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Old 18-12-2003, 00:48   #1
neorder
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how much exactly DBS charge for foreign checks?

well, i recieved a 44 dollars check from US (for hosting).

Deposite to DBS, then the bank deposite in 71SGD, deduct a 14SGD and a 8SGD...

how much do i left then? only 49...it's not worth...it's the same i m not making any profit from this business.

but how do you accept US clients then?
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Old 18-12-2003, 01:14   #2
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I dont accept cheque in foreign currency, coz usually it will be delayed and it is not worth.... all profit goes to the service charge already. My adsense cheque is charged 20+ also, but i got far more larger amount, so it didnt affect me much.
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Old 18-12-2003, 11:59   #3
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Re: how much exactly DBS charge for foreign checks?

Quote:
Originally posted by neorder
but how do you accept US clients then?
There are always other payment methods such as using credit/debit cards or through an online payment system such as PayPal.
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Old 18-12-2003, 16:45   #4
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citibank charges S$5 to process foreign check.

but better use paypal etc. coz it takes long time to receive and bank in foreigh checks.
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Old 15-01-2004, 13:17   #5
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Paypal seem like a good option. Especially if you are dealing with US based clients. However if you have dealing with some foreign companies that only issue cheques for payment (ie Some companies that offer pay-per click system) I guess the only way is to accept cheque but at a bigger amount.

Cos from the replies from fred and SgHosting, banks charge a flat rate to process. Hence having a larger amount send to you on a cheque might be a better choice. Do correct me if I am wrong thanks.
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Old 15-01-2004, 13:49   #6
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Yes. Unless hugh amount over few hundreds else not worth clearing an overseas cheque.

Use online payment system.

Alternatively, ask them do not send cheque, send bank draft in Singapore Dollars. In this way they absorb all the fees and charges.
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Old 15-01-2004, 14:27   #7
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Quote:
Alternatively, ask them do not send cheque, send bank draft in Singapore Dollars. In this way they absorb all the fees and charges.
With bank draft they absorb all the fees and charges? That is good.

But the exchange rates is there a difference?
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Old 15-01-2004, 22:57   #8
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I used to use Paypal for US payments...
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Old 16-01-2004, 02:38   #9
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Quote:
Originally posted by iDeBuggers
With bank draft they absorb all the fees and charges? That is good.

But the exchange rates is there a difference?
You fixed the exchange rate

Eg. You sell a product at US$50.
If the person going to buy from you, he has to buy an international bank draft in Singapore dollars. Then you say it will be US$50x1.8 = SG$90. Ask them to buy SG$90 international bank draft.

In this way, that person pay for the draft fee and exchange rate. When you receive the draft, you just need to happily go to the bank, deposit the draft, wait for a couple of days to clear
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Old 16-01-2004, 20:12   #10
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Thanks for the info, but I would like to know if the payment is from a foreign based company like Google for example.

Quote:
Alternatively, ask them do not send cheque, send bank draft in Singapore Dollars. In this way they absorb all the fees and charges.
Since you say that can ask them to send bank draft, how can I go about doing this? and what is the exchange rate? Cos their terms have stated that they will only issue cheques for payments.

For personal payment wise it is no problem I understand this. However what I am more concern is how to go about asking a foreign based company to send bank draft and the rates.

Hope I am not confusing anyone.
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Old 17-01-2004, 02:07   #11
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Quote:
Originally posted by iDeBuggers
Thanks for the info, but I would like to know if the payment is from a foreign based company like Google for example.



Since you say that can ask them to send bank draft, how can I go about doing this? and what is the exchange rate? Cos their terms have stated that they will only issue cheques for payments.

For personal payment wise it is no problem I understand this. However what I am more concern is how to go about asking a foreign based company to send bank draft and the rates.

Hope I am not confusing anyone.
In that case you are not able to request draft from them as they only issue cheques.
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Old 17-01-2004, 09:23   #12
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I see. OK thanks for the information. Guess no choice but to process cheques then.
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Old 08-08-2004, 21:12   #13
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DBS foreign cheque fees

Commission: S$10.00
Postage: S$4.00
Agent Fee: US$5.00

Total: around S$22

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