Frequently Asked Questions (FAQs)

If you are a Resident Indian (RI), which means you did not complete 183 days of sailing, you may need to declare your SeaBoard account for tax purposes. To do so, you will need to transfer the money from your SeaBoard account to your home country bank account and declare it to relevant authorities.

If you are a Non-Resident-Indian (NRI), which means you have completed 183 days of sailing, you may not need to declare the SeaBoard account. There is no limit to how much you can hold in your account. However, you may need to do so if you become a RI.

If you are unsure of your residential status, please consult with a chartered accountant (CA) or a tax specialist.

References: Income Tax Act, 1961, Section 6

DBS Bank of Singapore is the custodian of the money held in SeaBoard. Rated as one of the world's best and safest banks, your money is secure.

No. Since SeaBoard is a Singapore-registered company, the RBI's regulations or guidelines do not apply. As such, we are not required to share your transaction information with Indian authorities.

SeaBoard is a Singapore-based account / digital wallet. It is not regulated by the Reserve Bank of India (RBI). If you don't qualify for NRI status, you will need to transfer the money from your SeaBoard account to your home country bank account and declare it to relevant authorities.

References: Foreign Exchange Management Act (FEMA), 1999

You will be charged a fee for SeaBoard-to-bank transfers, online or offline purchases, and ATM withdrawals. The first SeaBoard-to-bank transfer (also known as remittance) per received wage is free. Reach out to us for more information on transaction fees.

No. There is no card maintenance fee.

No. There is no account maintenance fee.

The first remittance per received wage is free; subsequent payouts will incur fees.

No. There is no allotment fee.

No minimum balance is required.

Currently, only USD can be sent to other SeaBoard app users.

You can transfer/remit to traditional bank accounts in 🇦🇩 Andorra, 🇦🇹 Austria, 🇧🇩 Bangladesh, 🇧🇪 Belgium, 🇧🇬 Bulgaria, 🇭🇷 Croatia, 🇨🇾 Cyprus, 🇨🇿 Czech Republic, 🇩🇰 Denmark, 🇪🇪 Estonia, 🇫🇮 Finland, 🇫🇷 France, 🇩🇪 Germany, 🇬🇷 Greece, 🇭🇰 Hong Kong, 🇭🇺 Hungary, 🇮🇸 Iceland, 🇮🇳 India, 🇮🇩 Indonesia, 🇮🇪 Ireland, 🇮🇹 Italy, 🇱🇻 Latvia, 🇱🇮 Liechtenstein, 🇱🇹 Lithuania, 🇱🇺 Luxembourg, 🇲🇾 Malaysia, 🇲🇹 Malta, 🇲🇨 Monaco, 🇳🇱 Netherlands, 🇳🇴 Norway, 🇵🇭 Philippines, 🇵🇱 Poland, 🇵🇹 Portugal, 🇷🇴 Romania, 🇸🇲 San Marino, 🇸🇰 Slovakia, 🇸🇮 Slovenia, 🇪🇸 Spain, 🇱🇰 Sri Lanka, 🇸🇪 Sweden, 🇨🇭 Switzerland, 🇹🇭 Thailand, 🇬🇧 UK, 🇻🇦 Vatican, 🇻🇳 Vietnam.

Currently, you will not be able to deposit money into the SeaBoard account. Only your employers can do so.

Currently, you will not be able to schedule payments to beneficiaries. However, we are working on it and may be available in the near future.

Since this is a digital account, there is no interest provided on the balance maintained.

To receive wages in your SeaBoard account, you need to provide the following information to your ship captain:

1. Your name
2. Your SeaBoard account identifier (available in the app)
3. Your Continuous Discharge Certificate (CDC) number

Your ship captain will pass this information to your employer's accounts team for wages allotment.

You will need to provide a copy of your Continuous Discharge Certificate (CDC) and passport to set up a SeaBoard account. Please ensure that the documents:

1. Are clear; not cropped
2. Contain the front and back pages
3. Have not expired

Your SeaBoard account will take approximately 2 to 3 working days to be ready, as we will need to verify your documents for security purposes.

Once your SeaBoard account is ready, we will issue your physical card within 2 working days. We will also keep you updated on your card issuance status in the app.

Each SeaBoard account has a unique alpha-numeric wallet identifier (example: SB 1234 567 890) which you can find in the app.

You can share this wallet identifier with your employer, ship master or other SeaBoard app users to receive wages or money.

Your wallet remains active for 1 year after ship contract ends

No, cash withdrawals in 🇸🇬Singapore are not allowed due to local regulations. However, you may do so in other countries, from majority of the Mastercard ATM worldwide.

The CVV and expiry date of physical cards are not displayed in the app for security reasons.

Reward points on card spending is currently not available. However, we are working on it and may be available in the near future.