Are you searching for a way to send or receive money to your loved ones anywhere in the world? If that’s the case, then you should learn more about DBS’ inward remittance service called DBS PriorityPay. Bank remittance is essential, especially if you want to instantly make telegraphic transfers (TT) to any DBS bank account across their regional network. Thankfully, the DBS PriorityPay enables you to do just that, but even better. So if you want to know and understand the various benefits and features, keep on reading below to find out what these are.
Faster Transactions for DBS Account Holders
One of the main benefits of the DBS PriorityPay service is that account holders can receive their money within 10 minutes. You don’t have to wait for a few days before it’ll appear on your bank account. Once your friend or relative sends you the money in whatever eligible currency, it will be in your account in just 10 minutes. Therefore, you can withdraw it right after.
The Cheapest Inward Remittance Service
One of the main reasons why every DBS SME account holder should consider the DBS PriorityPay service is because of the cheap service. And by cheap, that means you get to pay $0 for the correspondent bank fee for the international money transfers and complimentary remittance service. You don’t have to spend extra dollars just to send money to your loved ones.
Each time you make a transaction, you will instantly receive an SMS or email alert from the system. That is once the beneficiary has already been credited. That means you will know if the funds are still being processed or are already transferred. You can track all payments with the help of SWIFT global payments innovation or SWIFT gpi.
Get the Proper Information
Another feature of DBS PriorityPay is that you can access information quickly. With the instant end-to-end border remittance payments, you don’t have to worry about not being able to get the correct information while the money is being transferred from your account to the beneficiary’s bank.
You Become More Efficient
Efficiency is important, especially with banks. You don’t want to spend a lot of time figuring out how to send money the cheaper way. Thankfully, DBS PriorityPay is a fast service that credits the beneficiary’s account within 10 minutes. The fast turnaround allows for better cash management that you’ll enjoy and appreciate.