Please advise the remitter to provide the following information to the sending bank:

Account Name: (the account name that has been maintained in Standard Chartered’s records)
Account Number: (your Standard Chartered account number)
Bank Name: Standard Chartered Bank (Singapore) Limited
Bank Address: (Go to http://www.standardchartered.com/contact-us/en/index.html for list of Standard Chartered’s address)
Standard Chartered SWIFT BIC code (Go to https://www.sc.com/sg/help/faqs/bank-code-finder/ for list of Standard Chartered’s SWIFT BIC codes)
Standard Chartered’s corresponding agent bank
Sender Name: Remitter’s Name

An IBAN is the International Bank Account Number that banks in the European Union and many other countries have adopted in order to ensure efficient processing of transactions. Failure to provide the correct IBAN will cause a processing delay or rejection of the transaction by the receiving bank.

Please go to the following website for more information on what the IBAN is and countries where IBAN is required. You will also find the IBAN Checker tool that will help you determine the correct IBAN for your transaction.

http://www.apacs.org.uk/payments_industry/ibans_4.html

Option Description Telegraphic Transfer Wire transfer to an overseas beneficiary account. May incur fees such as correspondent bank, beneficiary bank and repair charges. Demand Draft (over the counter) International bank cheque handed to you at our counter that you can deliver to your beneficiary for clearing. Demand Draft (courier) International bank cheque sent to the designated address via local courier. Demand Draft (beneficiary) International bank cheque sent to your overseas beneficiary via international courier services. Please contact your nearest Client Services Representative for more details on the options available in your country.

Straight2Bank users will be able to view the status of their transactions online.

Manual transaction status can be found by contacting your nearest Client Services Representative.

Note that Standard Chartered Bank (Singapore) Limited will only be able to update you on outbound payment status. Payment receipt must be confirmed by the correspondent bank.

When the beneficiary receives the funds depends on the processing time of the intermediary bank(s)/beneficiary bank or its branches. Normally it takes one to four business day(s) for beneficiaries to receive the funds.

However, it may take longer time for payment to countries where:

exchange controls are in place;
it is the receiving bank’s requirement to release funds upon contact with the beneficiary; or
the payment has to go through a number of banks and branches.
To ensure the remittance can be processed accurately and efficiently throughout the payment chain, please provide the correct SWIFT Bank Identifier Code/domestic clearing number of the relevant beneficiary bank branch/IBAN, if applicable.

Each bank has its own tariff and the pricing is subject to change. Please contact your nearest Standard Chartered Client Services Representative for more information.

The funds will be debited from your indicated account on the same day your application is received, or the next business day as per submission and processing cutoff times. Please contact your nearest Client Services Representative for the cutoff time details applicable to your country.

When payments are made locally and overseas, charges are imposed by various banks, such as the remitting bank, the beneficiary bank, the intermediary bank, etc. These charges can be paid or settled in one of the following ways:

1. BEN: Charges are borne by the beneficiary.
The beneficiary bears all charges of the banks engaged in the transfer of the payment. You only pay the remittance amount. All charges (Standard Chartered’s as well those of the intermediary bank, beneficiary bank, etc.) will be deducted from the remittance amount and the beneficiary will receive the remaining balance.

2. SHA: Charges are shared.
You pay Standard Chartered’s charges and the remittance amount. Your beneficiary bears the charges of all the other banks (the intermediary bank, beneficiary bank, etc.). The beneficiary will receive the remaining balance.

This is the most common type of charge, where each party bears their respective charges.

3. OUR: Charges are borne by the remitter.
You bear all charges of the payment, which includes the remittance amount, Standard Chartered’s charges, as well as all the other banks’ fees (intermediary bank, beneficiary bank, etc.), so the beneficiary receives the complete payment. Standard Chartered Bank (Singapore) Limited will debit your account for payment of the charges after the exact amount has been identified.

In the case where Standard Chartered Bank (Singapore) Limited has an OUR arrangement with our correspondent bank, we will debit the agent charges upfront. However, Standard Chartered Bank (Singapore) Limited will not be held liable if our correspondent or the beneficiary’s bank does not follow the instructions or if full payment fails to reach the beneficiary’s account for any other reason.

To ensure that your application is processed promptly, please provide the following information accurately:

Your name, address and account number
Payment currency code and amount
Receiving/beneficiary bank’s name and address
Beneficiary bank’s routing code
Name of intermediary bank, if available
Beneficiary’s account number or IBAN for payments to European countries
Beneficiary’s name

The charges are usually for the following:

Commission: Standard Chartered’s handling charges
Agent Charge: Charges imposed by our correspondents

You may send your payment instructions through our Straight2Bank; or alternatively send your instructions on the telegraphic transfer form (available for download at the locations listed below) to any of our branches. Please contact your nearest Client Services Representative for more information.