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#Weixin ocbc g9ajvj0hr7 ycal how to#
#Weixin ocbc g9ajvj0hr7 ycal plus#

If you’re looking for the rate OCBC uses when they convert your money, they use what they call the buying rate.³ That’s not the mid-market rate. Thus, why OCBC charges you more when you have no currency conversion needs. And if they aren’t converting your money, then they make less. Which means if they convert your money from one currency to another, they will almost always make money. Why? It has to do with the exchange rate.īanks and major transfer services generally roll a large chunk of their profit into poor exchange rates. You may have noticed in the OCBC fees table above that you pay more upfront for an international transfer when there’s no currency conversion.

S$30 - rejected items due to insufficient funds.

Fixed fee - Bank agent charge may apply if you‘re assisted.

May range from S$14-55 per bank - Especially when sent via SWIFT, intermediary and recipient banks generally also deduct their own flat fee from the amount.

Varies - As noted in the previous section, most banks add a mark-up to the exchange rate at an additional cost to you.

Another ⅛% of total amount - Minimum S$25, maximum S$120 for commission-in-lieu of exchange.

Outgoing TT/Overseas fund transfer (without currency exchange)¹

Intermediary and recipient bank chargesⁱⁱ.

Fixed fee based on remitting currency - Bank agent charge may apply if you‘re assisted.

⅛% of total amount - Minimum S$10, maximum S$100 for commission.

Outgoing TT/Overseas fund transfer (with currency exchange)¹ Bear in mind that apart from the fees outlined below, your transfer will likely also be liable to fees charged by the recipient or intermediary banks that help to process the payment. When transferring money internationally, OCBC fees differ depending on whether you set up the payment via online banking or by going to a branch in person. Which means that the fees you see upfront, aren’t necessarily all the costs you’ll need to bear in mind. On top of that, there may be charges from other banks deducted if your money is sent via SWIFT.

#Weixin ocbc g9ajvj0hr7 ycal plus#

What are the fees for an overseas transfer with OCBC in Singapore?Īs you can probably already see above, OCBC charges a transfer fee, plus a mark-up in the exchange rate when more than 1 currency is involved. But check out yourself the live comparison tool for the most up to date information. The snapshot you see above is what the real cost of sending S$1000 from Singapore to a US dollar account in the US looks like on the day we published this article. In fact, it was so important to us that we built a tool so you can quickly compare the actual cost of sending money abroad - including a number of costs that many banks aren’t so upfront about. The people at Wise decided it was important that consumers knew the actual price of sending money abroad.

#Weixin ocbc g9ajvj0hr7 ycal how to#

This guide will help you navigate the fees, transfer times, and also how to send or receive international money transfers through OCBC. The good news is, you might be able to save time, money, and some of that confusion if you use a service like Wise. Things might get a bit complicated when you try working out how much it’ll cost you to transfer money overseas - the act itself has three different names in OCBC alone: outward remittance, telegraphic transfer, and overseas fund transfer. OCBC is among Singapore’s top 3 banks and is well-connected to the global banking network.