Payments

Outward Telegraphic Transfer

Required time for funds transfer

It will take a few hours to 4 business days, depending on the bank location of your payee’s account

Rate used to convert outgoing funds

The Bank’s prevailing board / counter rate will be used.

Transfer funds to Malaysia

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

However, you can indicate the MYR amount on the telegraphic transfer application form and submit it to an OCBC 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 telegraphic transfer charges.

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

If your payee does not maintain an account with OCBC Bank Malaysia, they should also receive the MYR amount in full. However, there may be additional charges incurred depending on the payee’s bank.