facebookHi. If I need to transfer S$1x,xxx to a European bank account, is it better to use DBS Remit (no fees, same day transfer) or DBS MCA account? - Seedly

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Hi. If I need to transfer S$1x,xxx to a European bank account, is it better to use DBS Remit (no fees, same day transfer) or DBS MCA account?

Can DBS MCA be used to transfer money overseas?

Discussion (3)

What are your thoughts?

You can try Transfernow which is base on how much you transfer as well as it has better exchange rates than DBS Remit and others which I have used so far. It is cheaper than M1 Remit and safe too. Transfer can be done with USD and other currencies but not in Taiwan dollars.

But in order to prevent money laundering, it has some step by step security features to follow.

You can use my referral code below to get a free transfer for the first time:

https://transferwise.com/invite/a/leel364

Let me know if you have any question. :)

Cheers.

Stuart

PN

Pham Nguyen Anh

03 May 2020

Level 4Β·PhD student at Nanyang Technological University

DBS MCA is a type of account while DBS Remit is a remittance service. DBS Remit will take the money in your MCA account to transfer.

There are a few other options you can look into: Transferwise, InstaRem, Revolut, Instamo, SingX, StanChart Remit. Compare the exchange rates & the cost. Since you are sending >10k, the rates & cost is gonna affects the amount received significantly. Hope it helps

DBS Remit is unavailable for some locations. You may want to check out first https://www.dbs.com.sg/...

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