I recently got a Revolut account as I’ve moved to Singapore from the UK and wanted an easy way to use funds in my UK account. Recently I moved a Sim of money into my Revolut account as GB Pounds. I now want to transfer this into my Singaporean account (with a bank called DBS). I set up the account, and wanted to transfer it as Singaporean dollars. I’ve tried twice now and both time last it’s failed, but I get no reason as to it’s failure. I’ve put on the correct name, account number and BICS, but it still fails. Is this because I’m trying to move it as Sing Dollars or is it something else? Please help as I’d really like to get money from my UK account into my Sing account without using another company like Transferwise, which charges a fee every time.
Check the SWIFT/BIC code you are using with a reputable code checker such as that offered by TransferWise: https://transferwise.com/swift-codes/bic-swift-code-checker . An error in the BIC code could cause the transfer to fail. Also, check with your Singapore bank the exact format in which funds need to be sent by SWIFT. Some countries require additional info such as official government ID numbers to be added to the account name or in the SWIFT message box. In some countries you have to send funds in a major currency such as USD or EUR and get them exchanged locally, but I’ve no idea bout Singapore. The other issue is that intermediate correspondent bank information sometimes needs to be provided for SWIFT transfers. The Singapore bank will tell you if correspondent bank details need to be provided.
Hi @RGuthrie - Did you manage to successfully make this transfer from your UK account to your Singaporean one? I’m hoping to do likewise and was curious about potential hiccups. Thanks.