DBS IDEAL and Payments Re-pricing
Driving value through digital

At DBS, we are investing in the future of digital, to help you live more, bank less.

DBS IDEAL

Experience the joy of banking with us digitally through DBS IDEAL – our award winning corporate online banking platform. Combined with IDEAL Mobile and IDEAL digital token, we provide a comprehensive range of digital services to help you manage your working capital, in a secure and cost-effective manner.

Alongside our recent IDEAL subscription fee waiver effective 1 January 2017, we are introducing a new Payments pricing structure to incentivise and reward businesses who use digital payments to bank in a faster, simpler and smarter way.

Reduced FAST pricing

FAST (Fast And Secure Transfers) is the fastest and most efficient way to pay to accounts with participating banks in Singapore. FAST transactions are available 24x7 via DBS IDEAL with almost instantaneous credit to the beneficiary. To drive value through digital we are lowering FAST pricing from S$5.00 to S$0.50 per transaction.

Increased Cheque and Manual remittance pricing

In order to offset the increased operating costs associated with processing non-digital transactions, we are increasing charges related to Cheque Clearing and Manual remittances. Cheque fees will be increased from S$0.50 to S$0.75 per cheque, from the 31st cheque onwards. Manual TTs via branches and other manual modes will be increased by S$5 per transaction.

A summary of the re-pricing

 Current pricingNew pricing (effective 1 May 2017)
Cheques S$0.50 per chq from 31st cheque S$0.75 per chq from 31st cheque
FAST S$1 for DBS accounts
S$5 for non-DBS accounts
S$0.50
TT
(Manual)
Commission: 1/8% (min $10, max $120)
In-lieu of exchange: 1/8% (min S$10 max S$120)
Cable charges: $30
Commission: 1/8% (min $10, max $120)
In-lieu of exchange: 1/8% (min S$10 max S$120)
Cable charges: $35
TT
(Electronic)
Commission: 1/8% (min $10, max $120)
In-lieu of exchange: 1/8% (min S$10 max S$120)
Cable charges: $20
Commission: 1/8% (min $10, max $120)
In-lieu of exchange: 1/8% (min S$10 max S$120)
Cable charges: $20

The benefits of going digital

Along with the benefits of managing your working capital in a secure and cost-effective manner, DBS’s digital banking solutions deliver:

  1. Accessibility to your accounts anytime, anywhere
  2. Later cut-off times with higher tier FX rates to make urgent payments
  3. Time-savings through easy payment screens
  4. Hassle free transaction reconciliation, and
  5. Automated Alerts and reminders across key banking activities.

So if not already, start banking with us in a faster, simpler and smarter way.

For more information on DBS IDEAL visit our website at http://www.dbs.com/ideal

If you would like to get in touch with us regarding this pricing revision or to obtain more information on DBS IDEAL, please contact us at our Corporate Hotline 1800 2222200.