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Understanding the Table:
The comparison table above helps you see the total cost of your DBS Bank currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your details and click ‘Get Rates’.
DBS Bank is a Singapore-based multinational bank and is particularly popular in Singapore and the wider Southeast Asia region. The bank has a strong presence in countries such as Indonesia, Hong Kong, Taiwan, and China, where it offers a range of banking and financial services to individuals and businesses. DBS Bank has also expanded its presence in India and other parts of South Asia in recent years.
In addition to its core markets in Asia, DBS Bank has a growing presence in other regions, including the Middle East, Europe, and the Americas. The bank has established itself as a leading player in the digital banking space, with a focus on delivering innovative and user-friendly banking services to customers across multiple geographies.
DBS Bank offers international money transfer services that allow customers to send and receive funds from abroad. Customers can initiate a money transfer online or in person at a branch. DBS Bank provides fast and secure international money transfer services with competitive exchange rates and low transfer fees. The bank offers two main types of international money transfer services:
DBS Remit: DBS Remit is an online money transfer service that allows customers to send money from their DBS or POSB account to another bank account overseas. The service is available in 26 currencies and allows for same-day or next-day transfers. DBS Remit also offers preferential exchange rates for selected currencies.
Telegraphic transfers (TT): TT is a traditional method of sending money overseas that involves transferring funds from one bank to another via a secure telegraphic transfer. TT is available in a range of currencies and allows for both incoming and outgoing transfers.
DBS does not publish their exchange rates publicly which is frustrating. Our BER International Money Transfer partners tend to offer guaranteed transparency on all conversions.
Our research shows that on average, DBS profit margin for foreign exchange rates is somewhere between 3 - 7%, depending on the amount you're sending, where you're sending it to and which currency will be received.
When you get a quote for your Global Money Transfer from DBS on their website or in-app, you can also see the DBS exchange rate, but it can be difficult to then calculate how much you are being charged.
While all banks charge this mark-up, the extra amount being charged is much higher than it would be with a global money transfer specialist.
Sending money to Indonesia can be an expensive business, more so if you aren’t even aware of all the hidden fees. Money transfer companies and banks profit by charging you fees and a normally hidden margin on the exchange rate.
Using your Bank to make international wire transfers to India can be especially expensive – often 5% to 10% worse than using a foreign exchange specialist to send to Indonesia bank accounts or pay a Indonesian rupiah invoice.
The table below shows DBS Bank Singapore dollar (SGD) Send Money exchange rates with the percentage of margin being charged from the current market mid-rate :
| Currency route | Mid market rate | DBS Bank Send Money Rate | Cost% |
|---|---|---|---|
| SGD - AED | 2.8568 | 2.8145 | -1.5% |
| SGD - AUD | 1.1967 | 1.1826 | -1.2% |
| SGD - BDT | 95.07 | 93.81 | -1.3% |
| SGD - BHD | 0.2932 | 0.2866 | -2.3% |
| SGD - CAD | 1.0630 | 1.0511 | -1.1% |
| SGD - CHF | 0.6385 | 0.6321 | -1% |
| SGD - CNH | N/A | 5.5188 | - |
| SGD - CNY | 5.5867 | 5.5310 | -1% |
| SGD - DKK | 5.0754 | 4.9975 | -1.5% |
| SGD - EUR | 0.6804 | 0.6741 | -0.93% |
| SGD - GBP | 0.5734 | 0.5685 | -0.85% |
| SGD - HKD | 6.1029 | 6.0423 | -0.99% |
| SGD - HUF | 274.45 | 268.02 | -2.3% |
| SGD - IDR | 12,651 | 12345.68 | - |
| SGD - INR | 66.70 | 66.08 | -0.93% |
| SGD - JPY | 111.96 | 110.71 | -1.1% |
| SGD - KRW | 1,055.2 | 1039.50 | - |
| SGD - KWD | 0.2383 | 0.2319 | -2.7% |
| SGD - LKR | 232.70 | 228.21 | -1.9% |
| SGD - MMK | 1,631.8 | 3389.83 | - |
| SGD - MUR | 35.48 | 35.15 | -0.93% |
| SGD - MXN | 14.89 | 14.68 | -1.4% |
| SGD - MYR | 3.2901 | 3.2531 | -1.1% |
| SGD - NOK | 7.8444 | 7.7160 | -1.6% |
| SGD - NZD | 1.2873 | 1.2706 | -1.3% |
| SGD - OMR | 0.2990 | 0.2979 | -0.37% |
| SGD - PHP | 43.32 | 42.81 | -1.2% |
| SGD - PLN | 2.9123 | 2.8433 | -2.4% |
| SGD - QAR | 2.8327 | 2.7632 | -2.5% |
| SGD - SAR | 2.9173 | 2.8815 | -1.2% |
| SGD - SEK | 7.4596 | 7.3314 | -1.7% |
| SGD - THB | 25.37 | 24.98 | -1.5% |
| SGD - TND | 2.3072 | 2.2114 | -4.2% |
| SGD - TWD | 23.27 | 22.94 | -1.4% |
| SGD - USD | 0.7778 | 0.7717 | -0.78% |
| SGD - VND | 20,276 | 19607.84 | - |
| SGD - ZAR | 13.81 | 13.57 | -1.7% |
DBS Bank has received numerous awards and accolades over the years for its banking and financial services, including being named "World's Best Bank" by Euromoney and "Asia's Best Bank" by The Banker. The bank is recognized for its commitment to innovation, sustainability, and social responsibility, as well as its focus on providing a seamless and personalized customer experience.
DBS Remit is an online money transfer service offered by DBS Bank that allows customers to send money from their DBS or POSB account to another bank account overseas. The service is available in multiple currencies and allows for same-day or next-day transfers, making it a convenient and fast option for sending money internationally.
DBS Remit offers competitive exchange rates and low fees, making it an affordable option for sending money overseas. Customers can also benefit from preferential exchange rates for selected currencies, which can help them save money on their international money transfers.
DBS Remit is available in a range of countries and regions, including Southeast Asia, China, Hong Kong, Taiwan, India, Australia, New Zealand, Europe, the United Kingdom, and the United States. The service allows customers to send money to over 40 countries and regions worldwide, including the Philippines, Indonesia, Malaysia, Thailand, Vietnam, China, Hong Kong, Taiwan, India, the United States, and the United Kingdom.
To use DBS Remit, customers need to have a DBS or POSB account and access to DBS's online banking platform or mobile app. Customers can initiate the transfer online and track the status of their transfer through the platform. DBS Bank also provides customer support to assist customers with any questions or concerns related to their DBS Remit transactions.
Overall, DBS Remit is a reliable and convenient option for sending money internationally, with competitive exchange rates and low fees. As it operates in multiple countries and regions, it provides a flexible and accessible solution for customers looking to send money overseas.
The DBS Bank SGD to IDR exchange rate is 12345.68. This is - compared to the latest SGD-IDR mid-market rate 12,651.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare Singapore dollar (SGD) to Indonesian rupiah (IDR) rates from different sources before making a conversion.
The above DBS Bank - Singapore dollar to Rupiah comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by DBS Bank and other foreign exchange providers against the latest SGD-IDR mid-rate and the possible savings of using various providers.
Looking at the full comparison table the best SGD to IDR exchange rate is 12575.27 from XE. The next best rate is 12575.27 from Wise. Then WorldRemit with 12524.66.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks like DBS Bank often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.
View a full list of exchange rates by selecting your Base (from) currency: