Singapore

Account channel

Service specification

TypeDescription
Cash-out MethodDirect credit to bank account in Singapore Dollar (SGD).
Supported beneficiary account type – individual and company.
Supported sender type - individual and company.
Transaction Turnaround Time· T+1 Singapore Banking day for transaction processed and credited before 5.00pm (Mon-Fri) GMT +8.
· Up to T+2 Singapore Banking days for transaction processed and credited after 5.00pm (Mon- Fri) GMT +8.
· Transaction final status received T+2 (before cutoff) or T+3 (after Cutoff) Singapore Banking day (subject to bank systems). 
For e.g. a transaction is processed at 11am GMT +8 on Day 1, and transactions is credited on next day (Day 2). However, Tranglo system will only transmit the final status on the following business day(s) (Day 2 or 3) where applicable.
· Transaction sent on Saturday or Sunday or Public Holiday will be processed on next Singapore Banking day.
Area availabilitySingapore nationwide
Validation / VerificationNo system validation on account available.
Amount receivedBeneficiary received net amount as specified by Sender.
Transaction LimitMaximum per Transaction SGD 1,000,000.00
Minimum per Transaction SGD 1.00
Compliance accumulated limit SGD 15,000.00 per day per Beneficiary
Maximum BeneficiaryNo restriction
Service ChargeTransaction Fee will not be refunded once the Transaction is accepted by the gloRemit® Service System and submitted by the gloRemit® Service System to the Payout Channel.
Cancellation ProcessCancellation is on best effort basis.
Remarks
Do_Transfer bAccType Value1

Supported banks

NoNameIssuer Code
1 Deutsche Bank 6500018
2 ANZ Bank 6500014
3 BANGKOK BANK PUBLIC COMPANY LIMITED 6500024
4 BANK OF AMERICA, NATIONAL ASSOCIATION 6500025
5 Bank of China 6500011
6 BANK OF EAST ASIA LTD 6500026
7 BANK OF INDIA 6500027
8 Bank of Singapore 6500005
9 BNP Paribas 6500016
10 CHINATRUST COMMERCIAL BANK CO LTD 6500028
11 CIMB Bank 6500017
12 Citibank 6500013
13 COMMERZBANK AKTIENGESELLSCHAFT 6500029
14 CréDIT AGRICOLE CORPORATE AND INVESTMENT BANK 6500030
15 DBS Bank 6500001
16 DnB BANK ASA 6500031
17 Far Eastern Bank 6500019
18 FIRST COMMERCIAL BANK 6500032
19 HL Bank 6500020
20 HSBC Bank 6500006
21 INDIAN BANK 6500033
22 INDIAN OVERSEAS BANK 6500034
23 INTESA SANPAOLO S.p.A. 6500035
24 KOREA EXCHANGE BANK 6500036
25 Malayan Banking (Maybank) 6500008
26 Mizuho Bank 6500021
27 NATIONAL AUSTRALIA BANK LTD 6500037
28 NORDEA BANK FINLAND PLC 6500038
29 OCBC Bank 6500002
30 POSB Bank 6500004
31 PT BANK NEGARA INDONESIA (PERSERO) TBK 6500039
32 Qatar National Bank SAQ 6500045
33 RHB Bank 6500022
34 SKANDINAVISKA ENSKILDA BANKEN AB 6500040
35 SOCIETE GENERALE 6500041
36 Standard Chartered Bank 6500007
37 State Bank of India 6500009
38 Sumitomo Mitsui Banking Corporation 6500023
39 SVENSKA HANDELSBANKEN AB 6500042
40 The Bank of Tokyo-Mitsubishi UFJ 6500015
41 UBS AG 6500043
42 UCO BANK 6500044
43 UOB BANK 6500003