Transfer Funds to Another Bank’s Account

Can I transfer funds to an account from another bank?

Yes, the Interbank Funds Transfer service lets you transfer funds to accounts of GIRO Participating Banks. As this service makes use of the Clearing & Settlement system for Interbank GIRO transactions, you will need to provide the recipient bank code and branch code as well as the recipient's account number.
Can I transfer money from any of my DBS or POSB accounts to another Bank's account?

The debiting account can be any of your Personal or Joint-Alternate Savings/Savings Plus or S$ Current/ Autosave accounts. Your Credit Card can also be used for the funds transfer and a cash advance fee and interest will apply. Please note that transfer of funds from a Joint-All account or a Trust Account is not allowed.
How do I add another bank's recipient?

To begin, you would need to pre-designate the recipient's account first:
- On the “Transfer” tab of the top navigation, select “More Transfer Services” in the dropdown menu.
- Select “Add New Other Bank Recipient”, under the “Manage Recipients and Transfers” category.
- Fill in the Recipient’s Name, Recipient’s Account, Bank Code and Branch Code.
- ^*You may also fill in your initials, which will be sent together as part of your fund transfer details to the recipient’s bank. This information in optional.
Note: Upon successful application, an SMS notification will be sent to your registered mobile number. The “Add New Other Bank Recipient” service lets you add up to a maximum of 20 recipients.

Please note that the Bank cannot check the accuracy of the recipient’s account number, as this information is not available to us. Therefore, we advise you to check with your recipient’s bank if you are unsure of the bank code, branch code and the account number. As an added safety measure, we will mail you a confirmation note to inform you of the account(s) you have designated for this service.

How do I transfer funds to another bank?

Once you have successfully added a recipient, you may proceed to transfer funds immediately:
- On the “Transfer” tab of the top navigation, select “To Another Bank’s Account”, under the “Make a Transfer” category.
- Input the necessary details: the recipient, your debiting account number, as well as the amount you wish to transfer.
- You can choose to carry out the transfer immediately or set a future date for the transaction to take place.
When will the funds be available in the receiving account after I have made an immediate fund transfer?

If you are transferring funds to another bank’s account via FAST, click here.

For Non-Instant Funds Transfers, transfers carried out before 8pm on a working day (Monday to Friday), the funds debited from your DBS or /POSB account will be available to the receiving account two working days later. Otherwise, it will be available to the receiving account three working days later.
How will I know if my interbank fund transfer is successful?

For FAST transfer transactions, you will be informed if your transaction is successful instantly on the completion page.

For Non-Instant Funds Transfers, the status of the funds transfer, be it successful or unsuccessful, will be available to you under "Notifications" on the 3rd working day after the funds transfer. For unsuccessful funds transfer cases, your account will also be refunded on the same day (3 working days after the transfer).
If my interbank funds transfer is not successful, how will the money be refunded to me?

For FAST transfer transactions, you will be informed if your transaction is successful instantly on the completion page.

For Non-Instant Funds Transfers, if the recipient’s bank rejects the interbank fund transfer, for example, because of an invalid account number, the money will be returned to your debiting account on the third working day after the transfer.
Can I set a future date for a fund transfer?

You can set a future date for up to a month from the date of transaction. However, please note that your account will be debited one working day before the effective date of transfer.

For example, if you have specified your interbank fund transfer to be effected on Friday 23 Jan 2015, your account will be debited on Thursday 22 Jan 2015.
How will I know if a future transfer is successful?

If the transaction cannot be carried out on the date set by you, we will inform you via the "Notifications" service. You can also view the status of your future transfers or check the reason for rejected transactions under the service "View or Delete Post-Dated Funds Transfer". All details of future transfers will be displayed for up to 1 month from the date of transfer.
Can I delete my future funds transfer?

Yes, all pending fund transfers can be deleted. Please make use of the "View or Delete Post-Dated Funds Transfer" service.
How can I remember all the numbers of my designated recipient accounts?

You can customise the recipient’s account with a description or name when you are adding them as a recipient. You can customise them with names such as “Mum’s Account” or “James’ Account”. This description will not be made known to the recipient’s bank.
Is there a maximum limit on the amount of funds I can transfer?

For fund transfers to accounts of another bank, you can transfer up to a pre-set daily limit of S$1,000. This limit will apply to both immediate and future transfers done on the same day.
Can this transfer limit be changed?

You can change your transfer limit anytime, by using the "Change Local Transfer Limit" service.
Is my daily limit for Funds Transfer between DBS or POSB Accounts the same as that for Funds Transfer to Another Bank's Account?

No. Your daily limit for funds transfer between DBS or POSB accounts is applicable for transfers to other DBS or POSB accounts, whereas your daily limit for funds transfer to another bank’s account is applicable for transfers to another bank.
Can I delete recipients that I no longer need?

Yes. You can choose to delete the recipients that you no longer need. You can also make use of this termination service to terminate any recipient’s account that you may have incorrectly set up. However, please note that if you have future-dated transfers with pending status, you will not be able to terminate the recipient account.

To delete a recipient:
- Select “More Transfer Services”, which can be found under the “Transfer tab” of the top navigation.
- Select “Delete Other Bank Recipient” under the “Manage Recipients and Transfers” category.
- Select the recipient’s account number that you wish to delete.
- Verify that you have selected the right recipient and click “Submit” to complete the process.
Can I opt out of the Interbank Funds Transfer service if and when I have no need for it?

Yes, you can choose to deactivate your Interbank Fund Transfer using "Deactivate Funds Transfer Service". This can be found under “More Transfer Services” on the Transfer tab of the top navigation. The deactivation will be immediate, and if you need to reactivate the service, please write in to us using Update Fund Transfer Limit & iB Message Contact Number form.
I have transferred money to the wrong account. How do I attempt to recover the funds?
- Record down the wrong account number that you have transferred to and delete the recipient from your list of recipients.
- Go to the nearest branch immediately to sign a form to recover the funds. Please provide our staff at the branch with the following information:
  - Date of transaction
  - The account number from which the funds were debited from
  - The wrong account number to which funds were transferred to
  - The name of the bank and the branch the funds were transferred to
  - The transaction amount
  - The transaction reference number if available
We will then attempt to help you retrieve the funds which were transferred to the wrong account.