DBS IDEAL supports banking services in 10 markets (Singapore, Hong Kong, India, Indonesia, China, Taiwan, United Kingdom, Australia, Macau, Vietnam), along with partnerships with Siam Commercial Bank Thailand, CIMB Malaysia and BDO Philippines.

More than just an online banking platform, you can also integrate DBS IDEAL with your company’s daily workflows to make your business operations more efficient.

• File based transaction upload
• ERP system integration via host-to-host setup or APIs connection

DBS IDEAL supports various payment services. Simply sign up for these functions using the DBS IDEAL Customer Self Administration module.

DBS IDEAL supports the issuance and amendment of Letter of Credit (LC), multi-currency LCs and Import Collection settlements, and application of trust receipt financing. You can also apply online for a banker indemnity to clear goods from the shipping or airline companies before transport documents are received.

If your company is the beneficiary party, enquiry of SWIFT Export Letters of Credit and amendments, as well as apply for a LC confirmation are supported online. Using DBS IDEAL, you can be updated of the status of the acceptance and payment of the Export LC or Collection.

You can also apply for a Banker’s Guarantee and Standby Letter of Credit and make amendments through DBS IDEAL.

Access DBS IDEAL’s advanced report function where you can personalise and schedule various report types. You may choose to email or directly download your daily account report, trade report, file report, payment advice or transaction summary in any of the available formats (PDF, Excel, and Text).

You can also subscribe to real-time email alerts for your account balance, incoming funds, change of transaction statuses and much more on DBS IDEAL All these services are provided at no additional charge.

For Cash Management, apply for these functions using the IDEAL Customer Self Administration module:

• Domestic payment
• Overseas payment with SWIFT gpi tracking
• Bulk payment
• Payroll payment

For Trade Finance, apply for these functions on IDEAL

• Import Products

             a. Letters of Credit (LC) Application
             b. Letters of Credit (LC) Amendment
             c. Shipping Guarantees / Air Way Bill Guarantee Application
             d. Bills under Letters of Credit
             e. Bills under Collection
             f. Settlement for Bills

• Export Products

              a. Export Letter of Credit Advising
              b. Export Letter of Credit Amendment
              c. Export Letter of Credit Confirmation Application
              d. Export Bills under Letter of Credit
              e. Export Bills under Collections

• Banker’s Guarantee/ Standby Letter of Credit

               a. Banker’s Guarantee / Standby Letter of Credit
               b. Banker’s Guarantee / Standby Letter of Credit Amendment

Yes, DBS IDEAL allows users to create templates for all recurring payments. Templates facilitate the creation of transactions by saving pre-determined payment details such as debit account, beneficiary name, account, bank and amount.

Pre-determined fields can be locked or protected so that crucial information cannot be edited or amended. Alternatively, you can make use of the copy function to create a new transaction from an existing payment.

Transactions created in DBS IDEAL can be dated up to 90 days in advance. These transactions are warehoused until the scheduled date and will be processed accordingly.

DBS IDEAL is accessible 24/7, so you can create transactions and perform account enquiries whenever you need, even on weekends or public holidays. However, transaction processing is dependent on the cut-off times of each payment type.

DBS IDEAL provides a comprehensive list of reports which you may print within DBS IDEAL, ranging from transaction-specific reports to summary reports and detailed reports on transaction statuses. You can filter the transaction information provided based on categories such as debit account, value date range, status, beneficiary name and amount.

DBS will process approved transactions on the scheduled date. Authorised signatories of the company must write to DBS in advance of this scheduled date in order to make changes. However, if the transactions have already been processed, for example, the cheque has already been mailed to the beneficiary, you will have to issue a stop payment instruction.