How to Make International Transfers from Hong Kong – A Better Alternative to DBS
Benjamin Clark - 2025-03-19 15:10:58.0 19
International money transfers are essential for many individuals and businesses, whether for sending funds to family, paying for overseas services, or handling cross-border business transactions. In Hong Kong, many people rely on DBS remittance services, which typically require a SWIFT code for international transfers. However, while DBS international transfers are widely used, they often come with high fees, long processing times, and less favorable exchange rates.
If you’re looking for a more affordable, faster, and more efficient way to transfer money internationally, Panda Remit is a better alternative. Let’s compare DBS remittances with Panda Remit to help you choose the best option for your needs.
What Is SWIFT Code & Why Do You Need It for International Transfers?
A SWIFT code (also called a BIC – Bank Identifier Code) is a unique bank identifier required for international wire transfers. If you use DBS for international remittances, you must provide the correct SWIFT code to ensure your funds reach the right recipient.
💡 DBS Hong Kong SWIFT Code: DHBKHKHH
💡 DBS Singapore SWIFT Code: DBSSSGSG
However, SWIFT transfers via DBS can be expensive and slow. Many DBS international transfers take 2–5 business days and involve intermediary bank fees, which reduce the final amount received by your recipient.
With Panda Remit, you don’t need to worry about SWIFT codes or intermediary bank charges—we offer a faster and cheaper way to send money abroad.
Comparing DBS International Transfers vs. Panda Remit
| Feature | DBS Remittance | Panda Remit |
|---|---|---|
| Transfer Fees | ✅ $10–$35 per transaction | ✅ Low or No Fees for many routes |
| Exchange Rate | ❌ Marked-up, lower than mid-market rate | ✅ Competitive, near mid-market rates |
| Transfer Speed | ❌ 2–5 business days | ✅ Minutes to hours |
| Intermediary Bank Fees | ❌ Yes (hidden charges) | ✅ No hidden fees |
| Convenience | ❌ Requires branch visits or complex setup | ✅ Fully online, fast & easy |
| Security | ✅ Safe but slow | ✅ Licensed, encrypted & fast |
Key Takeaway:
While DBS international transfers work, they are often slow, costly, and require SWIFT codes. Panda Remit provides a better alternative with lower fees, real-time exchange rates, and faster transfers—without needing a SWIFT code!
Hidden Costs of DBS International Transfers
Many users don’t realize that DBS charges multiple fees for international transactions, including:
🔹 Transfer fees: Up to HKD 270 (USD 35) per transaction.
🔹 Exchange rate markup: Banks offer weaker exchange rates than mid-market rates, reducing the amount your recipient gets.
🔹 Intermediary bank fees: If your transfer goes through correspondent banks, extra charges may apply—reducing the final payout.
With Panda Remit, you can avoid these hidden charges. We offer transparent pricing, better exchange rates, and no intermediary bank fees, ensuring your recipient gets more money.
How to Send Money Internationally from Hong Kong with Panda Remit?
Sending money abroad with Panda Remit is faster, cheaper, and more convenient than using DBS remittance services. Here’s how it works:
Step 1: Sign Up for Panda Remit
👉 Create an account here – it only takes a few minutes!
Step 2: Enter Transfer Details
✅ Select the destination country
✅ Input your recipient’s bank details (no SWIFT code required!)
✅ Choose the amount you want to send
Step 3: Pay Securely
✅ Use bank transfer, FPS, or credit/debit cards to fund your remittance.
Step 4: Enjoy Fast Transfers
✅ Your money arrives within minutes or hours (compared to 2–5 days with DBS).
Step 5: Track Your Transfer in Real Time
✅ Get instant updates through the Panda Remit app or website.
Why Panda Remit Is the Best Choice for Hong Kong International Transfers?
🔹 🚀 Faster: Transfers arrive within minutes or hours – no long waiting times.
🔹 💰 Lower Fees: No SWIFT charges, no intermediary bank deductions.
🔹 💱 Better Exchange Rates: Higher rates than banks, meaning your recipient gets more money.
🔹 🌏 Global Coverage: Supports transfers to over 30 countries worldwide.
🔹 🔒 Secure & Regulated: Licensed and compliant with strict financial regulations.
Send Money Today – First Transfer with Zero Fees!
Tired of slow and expensive DBS international transfers? Switch to Panda Remit and enjoy:
✅ Faster transfers – in minutes, not days
✅ Lower fees & better exchange rates
✅ No SWIFT code needed – simple & hassle-free
🌟 Sign up now and enjoy your first transfer with ZERO fees! 🌟
📲 Follow us on Instagram for the latest updates & promotions!
Conclusion: The Best Alternative to DBS Remittance in Hong Kong
If you’re using DBS for international transfers, you might be paying higher fees and waiting longer than necessary. Instead, **Panda Remit offers a modern solution with:
✔ Faster processing times (minutes instead of days)
✔ Better exchange rates (no hidden markups)
✔ Lower transfer fees (or zero fees for first-time users!)
✔ No SWIFT code requirement
Next time you need to send money abroad, choose Panda Remit—a cheaper, faster, and more convenient alternative to DBS international remittance.