How to Open International Account Online

SWIFT - Society for Worldwide Interbank Financial Telecommunication.

Transaction orders are transmitted between members of this network.

Each member is identified with a unique SWIFT/ BIC code.

To this day, SWIFT is the biggest and most efficient tool for international money transfer, with over 11.000 member institutions in over 200 countries, sending over 5 billions financial messages globally every year.

SWIFT works by assigning each member institution a unique ID code that identifies the bank name, country, city, and branch.

For example DNBC Financial Group BIC code is: DSFE LT 21 XXX

Here's an example BIC code: DEUTDEFFXXX. Let's break it down:

Bank code: DEUT - This represents the bank. In this case, it's Deutsche Bank. Country code: DE - This is the ISO 3166-1 alpha-2 country code representing the country where the bank is located. In this example, it is Germany.

Location code: FF - This code defines the location (city) of the bank's head office. Here, it is Frankfurt. Branch code (optional): XXX - This part is optional and used to identify a specific branch of the bank. In this example, the 'XXX' indicates that the code refers to the bank's head office.

So, the example BIC code DEUTDEFFXXX represents Deutsche Bank's head office in Frankfurt, Germany.

An account held by a foreign bank is often referred to as an international account. You can either reside in London or New York or almost anywhere and still open an international current account in the capital of Singapore. There are no physical boundaries to possess an international company account. Or global companies whose ownership or business activities lie outside of Europe like some international nationalities/jurisdictions: Hong Kong, Singapore, etc can open overseas company accounts in Europe.

Moreover, It is remarkably easy to contact service providers and make an online registration for an international current account as long as your institution satisfies the eligible criterias.

Opening and owning an international company account is extremely beneficial for enterprises that do business globally because of the financial advantages and the manoeuvrability it brings.

For example, a large number of costs and fees will be less charged for money remittances by using an overseas current account which no traditional banks can offer. Also, having an international business account helps businesss avoid political risks and put their assets under protection.

In conclusion, an international business account gives enterprises a better, simpler way to make transactions without worrying about hidden fees. Everything that an DNBC Financial Group overseas account offers is completely transparent.

Absolutely. DNBC Financial Group welcomes and accepts online applications for opening an international current account anywhere in the world with the assistance of our dedicated consultant team and experts.

Just by a few minutes to register your information online on our public website dnbcf.com, you can own your international business account without any paperwork.

DNBC offers international business account for clients worldwide. If you are an entity operating your business outside Europe, we also support you opening an account, because every step for onboarding is performed online from registering to documents submission and remote interview.

Moreover, if you are clients whose nationalities/jurisdictions are international countries like HongKong, Singapore..., you can apply for DNBC overseas current accounts without any difficulty.

If your businesses are inbusinessd in the US, India, China, the Middle East..., and you need an international current account for transactions with Europe in euro currency, DNBC is the best option for you with an online opening account and fast onboarding process that help you manage cost and time effectively.

Please note that every nationality/jurisdiction will have different requirements, we flexibly support our customers case by case.

For more information, you can contact us by visiting the contact us page or chat box at the bottom right corner on DNBC public website. If you need to speak directly, you can call our hotline +65 6572 8885 or call WhatsApp/Viber at +370 6186 1961.

See more:

• Open international Account Online for Business
• How much does it cost to open an international account?

Difference between SEPA and SWIFT:

The main differences lie in the location that a legal entity inbusinesss. EU Business accounts are applied for companies that are operating businesses in the EU, while EU international Accounts are opened for entities that run business activities outside of Europe. For example, if your enterprise is licensed to operate in regions within the European Union territory, such as German, Italy, Spain, Sweden, etc. Then the most suitable current account for your institution should be a business account.

On the other hand, financial institutions like DNBC Financial Group also provide money remittance service and international company account opening service for establishments doing business outside of the EU. There are little to no limits for enterprises operating anywhere in the world legally when owning an EU international account.

However, there are some of the constraints on opening EU international accounts in specific regions due to the European commission's charter. Find out more about regional terms and conditions.

See more:

• Open EU international accounts with DNBC Financial Group
• Open EU Business accounts with DNBC Financial Group

At this time, with SWIFT transfer, you can send money online from your Euro account to other accounts in any other currencies.

Here at DNBC, we believe that every transaction made using our services should be carried out with the best possible price we can provide.

At www.dnbcnet.com or our mobile payment applications, you can find both SWIFT and SEPA services. When you fill in the information at any of the 2 pages, we will automatically identify whether your transaction should be made with SWIFT or SEPA and direct you to the suitable page to give you the best option regarding time and fee.

So in regard to the question, no, DNBC Financial Group simply does not allow our customers to be charged anything more for whatever you intended to do.

*Note: Please take note that the provided information about SWIFT Transfer above is for informational purposes. Currently, we have indirect relationships to perform any international SWIFT transfer and inbusinessd with main cash correspondent/intermediary banks that support our clients in making international money transfers/receive via SWIFT Transfer. The term "SWIFT" or its trademarks means all registered trademarks, non-registered trademarks, trade names and company names owned by SWIFT. DNBC manages and supports our clients to monitor their transactions and send payments via DNBCnet.