A Fast Bank Transfer is a transfer of funds from one bank account to another locally. In most cases, you will need to login to your online banking and authorize the bank transfer or authorize your bank to. A bank transfer is when money is sent from one bank account to another. Transferring money from your bank account is usually fast, free and safer than withdrawing and paying in cash. Read on for more.
Fund TransfersA wire transfer is one of the fastest ways to transfer money electronically from one person to another through a bank or a nonbank provider such as TransferWise and Western Union. No physical cash. If your estimation says 'should arrive in seconds' — your transfer will be instant. 2 Choose the fastest payment option. For many currency routes, paying using credit cards, Apple Pay or your balance are faster than bank transfer.
Fund Transfers
Transfer using PayNow NEW | Transfer to your own or other DBS accounts | Transfer to other Bank's accounts | |
|---|---|---|---|
digibank App | Fee: S$0 | Fee: S$0 (via FAST) | Fee: S$0 |
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Slot machine to play for free. Internet Banking | Fee: S$0 (via FAST) | Fee: S$0 | |
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Branches | Not Available | Fee: S$0 | Fee: S$20 (via MEPS) |
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PayNow
- PayNow is an instantaneous way for you to transfer SGD funds to someone within Singapore, using his/her mobile number or NRIC/FIN number
PayNow is available on iBanking, digibank app and Paylah!
How to transfer using PayNow
Sending money
- Please note that PayNow is only available for participating banks
- Login to DBS iBanking or digibank app
- Under 'Transfer', select 'To Mobile Number or NRIC (PayNow)'
- Enter recipient's Mobile Number or NRIC and initiate the transfer
Receiving money
- Register your Mobile Number and/or NRIC/FIN for PayNow via iBanking, digibank app
- Ask the sender to send funds to your Mobile Number or NRIC/FIN via PayNow
FAST
- FAST (Fast and Secure Transfer) is an electronic funds transfer service that lets you transfer SGD funds almost instantly from one bank to another within Singapore.
- With effect from 5 February 2018 - FAST transfers have a maximum limit of $200,000 per transaction.
- To take advantage of this new limit, change your existing personal local transfer limit on ibanking here.
How to transfer using FAST?
Receiving money
- Inform the sender of your DBS account number
- Inform the sender to send funds to your account via FAST
Sending money
- Please note that FAST is only available for participating banks
- Login to DBS iBanking or digibank app
- Under 'Transfer', select 'To Other Bank Account (FAST)'
- Select recipient's bank; enter payment details and SMS message
- Click 'Submit' and wait for transaction status
iBanking/digibank app | Branches | |
|---|---|---|
| Payments via FAST | S$20 per transfer | |
| Receipts via FAST | Free | |
| Personalised SMS | Free |
MEPS
- MEPS (MAS Electronic Payment System) is an online Singapore Dollar (SGD) inter-bank payment and settlement system which allows you to make same day inter-bank transfers if the application is submitted before the cut-off time of 2.00pm on weekdays. Transfers submitted after the cut-off time will be will be effected on the next working day
MEPS transfers are only available at branches at S$20 per transfer.
Others
- Online Cheques & Drafts: PayEasy enables you to send cheques to someone when you do not have access to your cheque book or when the receiving party requires a bank draft. We mail out cheques on your behalf for free — all you need to do is log in to iBanking and make the transfer. You can also send foreign bank drafts.
- Cashier's Order: It's easy to log in to iBanking to send a Cashier's Order for free. A Cashier's Order (or a Banker's draft) is a cheque issued by the Bank, payable to your designated recipient.
- Recurring Funds Transfer: Also known as Singapore Dollar Standing instructions, this service automatically transfers a fixed amount in SGD from your DBS/POSB Savings or Current Account, to a designated receiving account on a regular basis (e.g. weekly, monthly, quarterly) based on your request.
- One-time sign up fee - S$10 (via branch), Free (via iBanking)
- Amendment fee - S$5 (via branch)
Transfer funds
digibank User
Fast Bank To Bank Transfer
Not yet a digibank user?
Apply online now
For customers with ATM/Debit/Credit Card
Fast Bank Transfer
For customers without card, kindly visit our branches.
Please note that some branches are closed temporarily in view of stricter safe distancing measures.
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