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Payments - Outward Telegraphic Transfer
Frequently Asked Questions
 
What is Telegraphic Transfer?
How do I apply for Telegraphic Transfer (TT)?
Where can I obtain Telegraphic Transfer Application Form?
What is the cut-off time to apply for TT?
What are the charges incurred for a TT?
How long does it take for the funds to be transferred to my beneficiary's account?
If there is a foreign currency exchange involve in my application, what exchange rate will the bank use to compute the remitting amount?
Can I transfer funds to Malaysia?
If I want my beneficiary in Malaysia to receive the exact amount MYR, how do I apply for the TT?
What is OCBC's Swift Address?
What is Telegraphic Transfer?
A Telegraphic Transfer (TT) is a means to transfer funds using cable (SWIFT) of telegraph. It is the most commonly-used means to transfer funds overseas. OCBC Bank will send an instruction to another bank to make payment to a company or an individual ("Beneficiary") according to your instructions indicated in the Telegraphic Transfer Application Form.
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How do I apply for Telegraphic Transfer (TT)?

Complete the Telegraphic Transfer Application Form and submit it to any OCBC Bank Branch.

For Corporate customers, you can apply for TT through our corporate Internet Banking - Velocity@ocbc.

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Where can I obtain Telegraphic Transfer Application Form?

You can obtain the Telegraphic Transfer Application Form at:

- All OCBC Bank Branches, or

- Click here to download the form

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What is the cut-off time to apply for TT?

You can submit your Telegraphic Transfer Application Form at any OCBC Bank Branch by 4.30pm. Please note that the cut-off time for TT to Malaysia is 3.00pm.

For TT applications via Velocity@ocbc, please click here for the details on the cut-off time.

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What are the charges incurred for a TT?

In general, TT charges comprise commission, commission-in-lieu, cable and agent fee. Please click here for the details on the applicable charges.

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How long does it take for the funds to be transferred to my beneficiary's account?

Depending on the bank where your beneficiary maintains an account, it may take a few hours to 4 business days for your beneficiary to receive the funds.

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If there is a foreign currency exchange involve in my application, what exchange rate will the bank use to compute the remitting amount?

The Bank's prevailing board/counter rate will be used for computing the remitting amount.

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Can I transfer funds to Malaysia?

Yes. Due to Malaysian Ringgit (MYR) currency controls in Malaysia, you can only transfer non-MYR to Malaysia.

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If I want my beneficiary in Malaysia to receive the exact amount MYR, how do I apply for the TT?

You can indicate the MYR amount on the Telegraphic Transfer Application Form and submit it through any OCBC Bank Branch in Singapore. Our branch staff will compute the SGD or USD equivalent amount. Your account (either in SGD or USD) will be debited for this equivalent amount and the applicable TT charges.

If your beneficiary maintains an account with OCBC Bank Malaysia, the exact amount in MYR will be credited.

If your beneficiary does not maintain an account with OCBC Bank Malaysia, generally your beneficiary should also receive the MYR amount in full. However, there may be additional charges incurred by the beneficiary's banks.

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What is OCBC's Swift Address?

OCBCSGSG

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Related Links
FAQ - Inward 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
6538 1111 (Singapore)
or (65) 6538 1111 (overseas)
Email us at
BB-CSC@ocbc.com


 

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