Outward Payment - Telegraphic Transfer

Outward Telegraphic Transfer

Cut-off time for outward telegraphic transfer submission

Payment type Branch submission OCBC Velocity
RENTAS 3.00pm 3.00pm
Telegraphic Transfer
4.00pm*
 5.00pm*

*Some currencies may have earlier cut-off times. For details, please refer to OCBC Velocity’s Telegraphic Transfer payment page.

Rate used to convert outgoing funds

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

Information Required for Telegraphic Transfer Payment

Telegraphic Transfer Payment To Currency Information required
United Arab Emirates All It is mandatory to quote the IBAN in beneficiary account number

IBAN format for the UAE consists of 23 alpha-numeric characters – AEKK BBBC CCCC CCCC CCCC CCC; K=Check digit; B=National Bank Code; C=Account number; sample AE880200000012345678910

IBAN number does not contain spacing.
Europe All It is mandatory to quote the IBAN in beneficiary account number

IBAN number does not contain spacing.
Canada All Please quote full address of beneficiary in beneficiary field
The People's Republic of China CNY CNAPS not required. Please quote the beneficiary’s bank swift code.

*CNY payment : Allowed only for Company to Company. Payment to individual is not allowed.
Indonesia IDR In Payment Details, please quote purpose of payment

*IDR payment : Not allowed to 3rd country
India INR It is mandatory to quote the beneficiary name and full address

In Payment Details, please quote a complete and meaningful purpose of payment regardless of amount. (Omission of this information may cause delay in effecting payment to beneficiary account or result in return of funds)

*INR payment : Not allowed to 3rd country
Thailand THB In Payment Details, please quote purpose of payment
Korea KRW A) If Beneficiary is an Individual. It is mandatory to quote:-

> In Payment Details- please quote purpose of payment and invoice number

> In Information To Beneficiary Bank- please quote beneficiary passport number, beneficiary date of birth and beneficiary contact number


B) If Beneficiary is a Corporate. It is mandatory to quote:-

> In Payment Details- please quote purpose of payment and invoice number

> In Information to Beneficiary Bank- please quote beneficiary email address, beneficiary contact number and person in charge

Payment with charge type “BEN"

> Ensure the amount to be contracted is the amount after less charges.              

*KRW payment : Not allowed to 3rd country
Taiwan TWD It is mandatory to quote the beneficiary name, address and contact number

Payment with charge type “BEN"
> Ensure the amount to be contracted is the amount after less charges.              

*TWD payment : Not allowed to 3rd country

** Transaction amount should be rounded without Cents **

Country Code

Please click here for country code listing.