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Payments - Inward Telegraphic Transfer
Frequently Asked Questions
 
How much does OCBC charge for Inward Telegraphic Transfer
If I am anticipating incoming funds crediting to my account, how do I check if I have received the funds?
Is there a cut-off time for crediting the funds received to my account?
What rate will OCBC use to convert my incoming funds?
Will OCBC send me advices for my Inward Remittance transactions?
What payment instruction must I supply to my remitter for them to credit my account maintained with OCBC.
How much does OCBC charge for Inward Telegraphic Transfer
For Inward Telegraphic Transfers crediting to SGD accounts, we charge S$10. However, we do not levy a charge if the inward Telegraphic Transfers are for credit to Time Deposit Account or to a Foreign Currency Account.
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If I am anticipating incoming funds crediting to my account, how do I check if I have received the funds?

To enquire if anticipated funds have been credited to your account, you can all our Commercial Service Centre at 1800 538 1111 for corporate customers, or our Customer Experience - Contact Centre at 1800 363 3333 for retail customers.

Alternatively:
For corporate customers:

  • Enquire via Velocity@ocbc, our Corporate Internet Banking Service
  • Enquire via eAlerts@ocbc, a SMS/email alert service (notification on incoming funds available from Oct 2006)

For retail customers:

  • Enquire via OCBC Internet Banking.
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Is there a cut-off time for crediting the funds received to my account?

Please note the Inward Remittance cut-off time for crediting of accounts maintained with OCBC:

Singapore Dollar Inward Telegraphic Transfer
For crediting to SGD Current and Savings Account - if the payment is received before 4.30pm we will process and credit customer's account within the same business day.

Foreign Currency Inward Telegraphic Transfer
For crediting to SGD Current and Savings Account - if the payment is received before 4pm, we will process and credit customer's account within the same business day.

For crediting to Foreign Currency account -  where payment involving USD/HKD/GBP is received before 4pm, we will processed and credit customer's account within same business day.  Payment involving all other currencies will be processed and credited to customer's account on the next business day. 

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What rate will OCBC use to convert my incoming funds?
We will use the Buying TT rate to convert your incoming funds.
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Will OCBC send me advices for my Inward Remittance transactions?
Yes, we will send you a computer generated advice with the transaction details. The advice will be sent to you via normal postal service on the next working day.
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What payment instruction must I supply to my remitter for them to credit my account maintained with OCBC.

For remittance in US Dollars to OCBC Bank Singapore in favour of your account with us, kindly advise your remitter or remitting bank to pay as follows:

Beneficiary Bank
Oversea-Chinese Banking Corporation Limited
Singapore
SWIFT Code: OCBCSGSG
CHIPS UID 010275

Intermediary Bank
JP Morgan Chase Bank, New York
New York, USA
SWIFT Code: CHASUS33
ABA Routing No.:FW021000021
CHIPS UID:CP0002

(Please note that you should advise your remitter or remitting bank to indicate either the SWIFT Code, ABA Routing No. or CHIPS UID in the payment instruction)  

Indicate the account number and account name as maintained with OCBC accordingly. For funds crediting to Foreign Currency account, please indicate the 3 digit account currency code which is part of the account number eg. 501123456201USD

For value same day crediting, remitting bank must inform Oversea-Chinese Banking Corporate Ltd, Singapore to confirm payment by authenticated SWIFT or test telex by 4pm Singapore time(for crediting into Foreign Currency Account) and 4.30pm Singapore time (for crediting into Singapore Dollars account)

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Related Links
FAQ - Outward Telegraphic Transfer
Apply for Velocity @ OCBC- Internet Banking for Business
Security Policy
Business Centres
Branch Locator
Pricing Guide

Information for you

Get in touch with our friendly customer service officers at :
SME Banking and Corporate Banking
Call us at
1800 538 1111 (Singapore)
or (65) 6538 1111 (overseas)
Email us at
BB-CSC@ocbc.com


 

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