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Local Funds Transfer
Transfer funds between accounts quickly.
Local Funds Transfer
Fund Transfers
| Transfer using PayNow | Transfer to your own or other DBS accounts | Transfer to other Bank’s accounts | |
|---|---|---|---|
| DBS digibank app | Fee: S$0 | Fee: S$0 (via FAST) | Fee: S$0 |
| Availability: 24x7 | Availability: 24x7 | Availability: 24x7 | |
| DBS digibank online | Fee: S$0 | Fee: S$0 (via FAST) | Fee: S$0 |
| Availability: 24x7 | Availability: 24x7 | Availability: 24x7 | |
| Centres / Branches | Not Available | Fee: S$20 (via MEPS) | Fee: S$0 |
| Not Available | Availability: Yes | Availability: Yes |
- 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 DBS digibank online or mobile app and Paylah!
How to transfer using PayNow
Sending money
- Please note that PayNow is only available for participating banks
- Login to DBS digibank online or mobile 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 DBS digibank online or mobile 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 digibank 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 digibank online or mobile 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
Participating banks and account types for funds transfer
| DBS digibank (online/app) | Centres / Branches | |
|---|---|---|
| Payments via FAST | Free | S$20 per transfer |
| Receipts via FAST | Free | |
| Personalised SMS | S$0.10 | |
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 DBS digibank and make the transfer. You can also send foreign bank drafts.
- Cashier’s Order: A Cashier's Order (or a Banker’s draft) is a cheque issued by the Bank, payable to your designated recipient. You can walk in to a branch to purchase and collect your Cashier's Order.
- 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 DBS digibank)
- Amendment fee - S$5 (via branch)
How to Transfer
If you have DBS digibank
Not a DBS digibank customer?
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