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We offer a full range of domestic and international payment capabilities. We help you save money and time by reducing your processing costs

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Business Payments Services

We offer a full range of domestic and international payment capabilities. We help you save money and time by reducing your processing costs

Comprehensive payments solution

Our payment solutions can help to reduce your overall processing costs – for domestic and global payments – saving you time and money while providing a value-added service to your suppliers.



  • If the inward or outward payment instruction has missing, unclear or incorrect information, Standard Chartered Bank (Singapore) Limited will seek clarification from you, the applicant, unless we believe the information can be corrected without referring to you. Standard Chartered Bank (Singapore) Limited will also advise you (the authorised operators of the account as specified in the account opening documents) if a new instruction is to be submitted. If the payment instruction is not in compliance with local/Standard Chartered Group policies, Standard Chartered Bank (Singapore) Limited will advise you to cancel the payment instruction. For inward payment instructions, funds will be returned to the remitter accordingly. In some cases, the instruction may be rejected and returned to you.

  • Once an instruction has been submitted to Standard Chartered Bank (Singapore) Limited, it cannot be amended. You will need to submit a written request signed by the authorised account signatories to cancel the original payment instruction. Standard Chartered Bank (Singapore) Limited cannot act on telephone, e-mail or verbal requests to cancel payment instructions.

    While Standard Chartered Bank (Singapore) Limited will try to act on your request to stop or cancel your payment applications, we cannot always do so as the payment instruction may have already been processed by the time we receive the cancellation instruction. To avoid duplication of payment instructions, please submit new instructions only after the cancellation of the previous instructions has been confirmed by the bank.

  • Once a payment has been processed, the funds have been remitted. Therefore, Standard Chartered Bank (Singapore) Limited can only contact the receiving bank to recall the payment instructions. The success of any such recall depends on a number of factors that are outside Standard Chartered’s control, such as exchange control restrictions in other countries, availability of funds in the beneficiary’s account, policies of the receiving bank, etc. There is also no specific timeframe within which funds that are recalled may be returned. In many cases, payments may be returned after several weeks. The receiving bank may also levy a charge for processing/returning the funds.

    Therefore, please ensure you double-check to confirm the payment details are accurate before sending the instruction to Standard Chartered Bank (Singapore) Limited.

  • Standard Chartered’s electronic banking platform, Straight2Bank, allows you to receive electronic bank statements which capture inward remittance transactions. Alternatively, our e-mail notification service highlights all inward remittances credited to your account. Your Client Services Representative will be glad to provide details about these services and any charges.

  • Yes, Standard Chartered Bank (Singapore) Limited will send you a credit advice for these transactions

  • 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.


  • 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.

Terms and Conditions

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.