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Domestic Funds Transfers
FAST Payment
Make instantaneous SGD interbank funds transfer any time, any day
Why Choose DBS FAST Payment?
- Save time with instantaneous SGD interbank funds transfer. Your beneficiary will receive the funds within five minutes
- Pay any time, any day via IDEAL™ 3.0
- Enjoy greater convenience with this simple and secure SGD funds transfer of up to SGD 200,000
- Receive real-time email alerts on your payment status
- Notify your beneficiary via email or SMS for successful transfers
Product Details
You need to have a DBS SGD Business Account and are remitting to beneficiaries of the participating banks.
- DBS Bank
- Australia and New Zealand Banking Group
- Bank of China
- The Bank of Tokyo-Mitsubishi UFJ
- BNP Paribas
- CIMB Bank
- Citibank
- Deutsche Bank
- Far Eastern Bank
- HL Bank
- Hong Kong and Shanghai Banking Corporation
- Maybank
- Mizuho Bank
- OCBC Bank
- The Royal Bank of Scotland
- RHB Bank
- Standard Chartered Bank
- Sumitomo Mitsui Banking Corporation
- United Overseas Bank Limited
FAQ
How does FAST payment work?
Simply send your payment instructions via IDEAL™ 3.0. The funds will be received by the beneficiary within five minutes after the payment has been made, upon a successful credit. Your beneficiary will then receive an email alert. We will also send you an email alert confirming the payment if you have subscribed to IDEAL™ eReports.
Who are the participating banks for FAST?
- DBS Bank
- Australia and New Zealand Banking Group
- Bank of China
- The Bank of Tokyo-Mitsubishi UFJ
- BNP Paribas
- CIMB Bank
- Citibank
- Deutsche Bank
- Far Eastern Bank
- HL Bank
- Hong Kong and Shanghai Banking Corporation
- Maybank
- Mizuho Bank
- OCBC Bank
- The Royal Bank of Scotland
- RHB Bank
- Standard Chartered Bank
- Sumitomo Mitsui Banking Corporation
- United Overseas Bank Limited
What is the information that I need to provide to effect a FAST payment?
- Beneficiary Name
- Beneficiary Bank Account Number
- Purpose Code
- Beneficiary Bank Name
- Amount
Do I have to pay to use FAST?
Please refer to the Pricing Guide.
How do I apply?
Simply speak with your relationship manager or call us at 1800 222 2200 to apply.
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
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DBS SME Banking Services
No Minimum Balance Requirement
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The new Digital Account comes with NO MINIMUM BALANCE required.
