SWIFT (Telegraphic Transfers)

With SWIFT you can transfer money internationally, it’s a secure way of sending or receiving money from banks around the world. It works by connecting banks using standardized codes for payments. 

Outward Remittance 

Transferring money via telegraphic transfer from a sender’s bank account to recipient’s bank account

Benefits

  • Fast and secure transfer 
  • Transparency  
  • Saves time  

Fees and Charges

  • TT Charges – 0.125% (mini USD 25.00)
  • SWIFT Charges – USD 3.00
  • Bank Charges – Mini USD 10.00
  • Amendment & Enquiry – USD 20.00

Necessary Documents for Import

  • TT Application Form
  • Cover letter with company Letter Head
  • Foreign Currency Account Number/ Name
  • Import License/ Permit (original)
  • Import Declaration (Original)
  • Bill of Landing/ Air-way Bill/ Cargo Recipient (Original)
  • Commercial Invoice (Original)
  • Company registration (DICA Extract)

Inward Remittance

Receiving international payments via a telegraphic transfer typically across international borders.

Benefits

  • Alerts on receipt of Funds 
  • Faster Services 

Fees and Charges

USD 10.00 (or) equivalent amount of USD 10.00 with SGD/EURO/INR transactions.

Necessary Documents for Export

  • Cover letter with company Letter Head
  • Export License
  • Export Declaration
  • Sales Contract
  • Proforma Invoice/ Commercial Invoice