Payments

RMB Electronic and Paper Instrument

Transfer funds securely and efficiently to beneficiary banks in China

Strengthen your relationships with suppliers and facilitate trade with DBS RMB Electronic and Paper Instrument. Through this facility, we help you to transfer your payment funds securely and efficiently to beneficiary banks in China. We have also extended our cut-off time (4pm), so you can have added convenience and more time for your business operations without having to delay payments.

 

Why choose DBS RMB Electronic and Paper Instrument?

  • Save time and lower your administrative costs as we have setup direct links with China National Advanced Payment System (CNAPS), which will make payments between banks in China more efficient. We are also members with the local clearing system, managed by The People’s Bank of China (PBOC)
  • Improve efficiency with our extended cut-off time for payment instructions at 4pm on a working day
  • Ensure prompt transactions with IDEAL™ Connect and IDEAL™, our online banking platform. You may also submit your paper-based payment instructions at our branches
  • Save on lower transaction fees if you remit from your DBS China account to any DBS branch in China, via IDEAL™

FAQs

Can I make payments in RMB to any beneficiary bank in China?

Yes, you can.

Do I need to have a DBS Business Account to make payments in RMB?

Yes, you will need to have a business account with us in order to use this facility. If you do not have a business account with us, please call us at 4008208988 and we’ll arrange for a relationship manager to assist you. You may also visit our Business Account page for more information.

What are the different payment channels available for me to submit my payment instructions?

You can submit them electronically through IDEAL™ Connect and via IDEAL™, our online banking platform. Alternatively, you can submit your paper-based payment instructions over-the-counters at one of our DBS branches.

What is the cut-off time for making payments in RMB?

We offer an extended cut-off time at 4pm from Mondays to Fridays, except on Public Holidays.

Applications submitted after the cut-off time will be processed on the next working day.

Will I be notified when the payment is transferred to my beneficiary?

Yes, we can send you an email notification through IDEAL™ eReports when the payment has been transferred.

Awards

Awards we have won recently
Best Cash Management Solution, China

Best Cash Management Solution, China

2015
Best Bank for Treasury and Cash Management (Foreign)

Best Bank for Treasury and Cash Management (Foreign)

2015
Best SME Financing/Cash (Highly Commended)

Best SME Financing/Cash (Highly Commended)

2015
Best Card Solution – Chongqing Grain Group Co

Best Card Solution – Chongqing Grain Group Co

2015
View All

 

How do I apply?

Simply call us at 400 820 8988 (or +86 400 820 8988 if you're overseas) or visit any of our Branches. You may also email us and our Relationship Manager will contact you as soon as possible.

 

Disclaimer: 

The information provided in this website is for general information only and nothing contained in this website constitutes an invitation, offer or solicitation with respect to the entry into transactions mentioned in this website or subscription, purchase or sale of any products, services, securities or other financial instruments mentioned in this website or the taking of any position or the adoption of trading strategy in respect of any asset class (eg. currency, interest rate, commodity, equity etc). The information provided in this website is not provided with regard to the specific investment objectives, financial situation and the particular needs of any particular person who accesses this website.

 

The information provided on this website is subject to change without notice, its accuracy is not guaranteed, and it may be incomplete or condensed. Accordingly, no representation or warranty, express or implied, is made as to the accuracy, completeness or fairness of the information in this website. We are not acting as your advisor or agent when providing the information in this website. The information in this website does not purport to identify the risks (direct or indirect) or other material considerations which may be associated with you entering into a particular transaction, subscribing for a particular service or purchasing or selling a particular security or financial instrument. Prior to entering into any proposed transaction or entering into any subscription, purchase or sale of any security or financial instrument, you should determine (after consultation with your own advisors if you deem fit), without reliance upon us or our affiliates, the economic risks and merits, as well as the legal, tax, accounting or other material characterisations and consequences of the transaction, subscription, purchase or sale, as the case may be, and that you are able to assume these risks.

 

We, and/or our affiliates, may hold, or trade, or act as market-maker, in any securities or other financial instruments mentioned in this website or related derivatives or may take positions or use trading strategies in respect of any asset class similar to or which differ from or be contrary to those mentioned in this website.  We, and/or our affiliates conduct many businesses and activities that may relate to issuers of third party securities mentioned in this website and may provide broking, banking and other financial services to such issuers.

 

Anyone receiving or accessing this website must make their own assessment of the materials herein and conduct such investigations and seek such professional advice as they think fit for such purpose.  The information provided on this site should not be regarded by recipients as a substitute for the exercise of their own judgment.

 

© DBS BANK LTD, 2013.  All rights reserved.  Any unauthorized use, duplication or disclosure is prohibited by law and will result in prosecution.

Get in touch

DBS BusinessCare: 400 821 8881

Get in touch

DBS BusinessCare: 400 821 8881