Incoming Funds

MAS Electronic Payment System (MEPS)

Receive SGD payments quickly

Receive payments quickly through the MAS Electronic Payment System (MEPS), which is a local electronic inter-bank payment and settlement system.

 

Why choose DBS MEPS?

  • Access your funds quickly and without delay with DBS. We are the largest MEPS clearing bank in Singapore
  • Stay informed via IDEAL™ eReports, our instant SMS and email alerts that notify you when the funds have reached your account

FAQs

What information will my remitting party require to pay me via MEPS?

Your remitting party will require the following information:

  • Beneficiary name: Your company name as registered with DBS
  • Bank Name: DBS Bank Ltd Singapore
  • DBS SWIFT Bank Identifier Code  (BIC): DBSSSGSG
  • Beneficiary's account number: The number of the account in which you would like to receive the funds
How do I know if I’ve received the funds?

We’ll send you an email or SMS alert when the funds have reached your account (if you have subscribed to IDEAL™ eReports). Alternatively, you can check your transaction history online via IDEAL™, our online banking platform to see if the money has been credited.

How quickly will I receive the funds?

You will receive the funds immediately once we have received the payment instruction. However, if the instruction arrives after 5.30 pm, you will receive the funds the following working day.

 

How do I apply?

Simply call us at 1800 222 2200, or +65 6222 2200 if you are calling from overseas to apply. Alternatively, please speak with your relationship manager.

Not a DBS SME Banking customer? Enjoy IDEALTM set-up and monthly fee waivers* by starting your DBS Business Account application online. This service is available to Sole Proprietorships, Partnerships, Limited Liability Partnerships and Private/Limited Companies.
*Terms & Conditions apply

No Minimum Balance Requirement
No Minimum Balance Requirement

The new Digital Account comes with NO MINIMUM BALANCE required.

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