Direct Deposit USD to Syfe via DBS
Moving USD within Singapore can be expensive since it needs to move on the SWIFT network and cannot leverage low fee methods like FAST and GIRO. This means the sending and receiving bank would likely charge fees on each end of the transaction.
If you're holding USD at DBS Bank in Singapore, you may be in luck. We've heard that DBS doesn't charge SWIFT fees when moving USD between accounts as long as it stays within DBS. It is highly recommended to verify this with your Account Manager since there are many types of accounts available at DBS. After you confirm your situation with DBS and you wish to continue making a direct USD deposit to Syfe, you can use the following info to make the transfer:
- Bank Name: SYFE PTE. LTD. - CLIENTS A/C
- Bank account number: 0720110196
- Bank swift: DBSSSGSGXXX
- Reference/Memo: [see FAQ below on how to get your memo number, it is critical to provide this]