Fund Transfers & Payments
Sending money should be quick, easy, and secure. Whether you're transferring funds to another account within the bank, paying a friend, or sending money overseas, we provide a range of transfer options to suit your needs. This guide explains the different transfer methods available and how to use them.
Domestic Transfers
Internal Transfers (Within the Bank)
Transferring money between your own accounts or to another customer's account within our bank is instant and free of charge. Internal transfers can be made through internet banking, our mobile app, or at any ATM.
- Transfers are processed immediately, 24 hours a day, 7 days a week
- No transaction fees apply
- Daily transfer limit: $50,000 (adjustable via internet banking or by contacting us)
- You can save frequently used recipients as favourites for faster future transfers
FAST Transfers (Instant Interbank Transfers)
FAST (Fast And Secure Transfers) allows you to send money to accounts at other participating banks almost instantly. Transfers are typically completed within seconds, making it the fastest way to send money to external bank accounts domestically.
| Feature | Details |
|---|---|
| Processing time | Near-instant (typically under 30 seconds) |
| Availability | 24/7 including weekends and public holidays |
| Transaction fee | Free for transfers up to $10,000 / $2.50 for transfers above $10,000 |
| Daily limit | $30,000 (default) / Up to $200,000 (with enhanced authentication) |
| Supported currencies | Local currency only |
To make a FAST transfer, you will need the recipient's full name, bank name, and account number. Alternatively, you can transfer using their registered mobile number or national ID through our PayNow-linked service.
PayNow Transfers
PayNow is a convenient way to transfer money using just a mobile number or national ID, without needing to know the recipient's bank account details. You must first register your PayNow profile through internet banking or our mobile app.
- Link your mobile number or national ID to your preferred bank account
- Send and receive money instantly using just the linked identifier
- Free of charge for all personal transfers
- Business PayNow is also available for merchants using a Unique Entity Number (UEN)
To register for PayNow, log in to internet banking or the mobile app, navigate to "PayNow" under the transfers menu, and follow the on-screen instructions. Registration is completed instantly.
International Transfers
Telegraphic Transfers (Wire Transfers)
For sending money overseas, our Telegraphic Transfer (TT) service allows you to remit funds to bank accounts in over 120 countries and 30 currencies. International transfers can be initiated via internet banking, the mobile app, or at any branch.
| Feature | Details |
|---|---|
| Processing time | 1 to 3 business days (depending on destination and currency) |
| Transaction fee | $20.00 per transfer (online) / $30.00 per transfer (branch) |
| FX margin | Varies by currency — indicative rates available on our website |
| Minimum amount | Equivalent of $100 |
| Maximum amount (online) | $200,000 per transaction / $500,000 per day |
When making a telegraphic transfer, you will need the recipient's full name, bank name, bank address, account number, and SWIFT/BIC code. For transfers to certain countries, additional details such as an IBAN or routing number may be required.
Correspondent Bank Charges
International transfers may incur additional charges from correspondent or intermediary banks involved in processing the transaction. These charges are deducted from the transfer amount and are outside our control. You can choose one of the following charge options when initiating the transfer:
- OUR: You pay all charges including correspondent bank fees (an additional $25.00 is collected upfront as an estimate)
- SHA: You pay our bank's charges and the recipient pays any correspondent bank charges
- BEN: The recipient pays all charges, which are deducted from the transfer amount
Recurring & Scheduled Transfers
You can set up recurring transfers for regular payments such as rent, loan repayments, or monthly allowances. Scheduled transfers allow you to set a future date for a one-time payment.
- Available for internal transfers, FAST transfers, and international transfers
- Choose the frequency: daily, weekly, fortnightly, monthly, quarterly, or annually
- Set a start date, end date, or number of occurrences
- Manage and cancel recurring transfers at any time through internet banking or the mobile app
- You will receive a notification before each scheduled transfer is processed
Bill Payments
Pay your utility bills, telecommunications bills, insurance premiums, and government fees directly through internet banking or our mobile app. We support over 200 billing organisations.
- Add billers by searching for the organisation name or entering the billing account number
- Set up one-time or recurring bill payments
- Payments made before 6:00 PM on a business day are typically processed on the same day
- No additional fees are charged for bill payments made through our digital channels
Transfer Limits and Security
To protect your account, all transfers are subject to daily transaction limits. You can view and adjust your limits through internet banking or the mobile app. Increases to transfer limits require additional verification via a one-time password (OTP) or biometric authentication.
For your security, we recommend the following best practices when making transfers:
- Always verify the recipient's details before confirming a transfer, especially for new payees
- Be cautious of requests to transfer money from unknown individuals or unsolicited messages
- Enable transaction notifications to monitor all account activity in real time
- Contact us immediately if you suspect an unauthorised transfer has been made from your account
If you experience any issues with a transfer or need assistance, please contact our customer service team via live chat, phone at 1800-XXX-XXXX, or visit any branch during operating hours.