drivinghazard 2nd Gear March 17, 2014 Share March 17, 2014 http://www.todayonline.com/business/faster-interbank-transfer-service-start-march-17 SINGAPORE — A new electronic interbank service allowing almost-instant fund transfers by individuals and businesses will be available from next week, announced the Association of Banks in Singapore (ABS) today (March 10). Fast And Secure Transfers (FAST) will be launched on March 17, said ABS. Last month, it estimated that FAST would be made available by June. The service, accessible on Internet and mobile banking platforms 24/7, allows customers to transfer up to S$10,000 a transaction between banks in minutes, shortening a process that can at times take up to three days. Several banks, such as OCBC, are also making it available at their ATMs. Only Singapore Dollar transactions are allowed. Participating banks, including the three local banks and most major international banks based here, said the convenience FAST provides is vital as demand for electronic payments and transfers continues to grow. A total of 14 banks are offering the service. “Fund transfers via our retail and corporate Internet banking platforms grew by more than 13 per cent from S$396 billion in 2012 to S$450 billion last year. We expect this to continue to grow,” said Head of DBS Singapore Sim Seng Lim. The charges and conditions for the service differ among the 14 banks. Retail customers at DBS, OCBC and UOB would not be charged for using the service, said the three banks. For corporate customers, OCBC and UOB plan to charge S$5 a transaction after a limited period of complimentary service, while DBS said it would offer preferential rates to businesses. Foreign banks, such as Maybank, HSBC and RHB, are offering the service for free to retail customers. Maybank’s corporate clients will be charged S$0.20 a transaction. Anybody tried this today? Those who don't have a different bank account I can offer my bank account for you to try and transfer funds into. I have DBS, POSB, UOB, OCBC, Maybank, HSBC. Pls PM me for details :) ↡ Advertisement Link to post Share on other sites More sharing options...
Jamesc Hypersonic March 17, 2014 Share March 17, 2014 Please post your bank account. I have a friend from Nigeria who want to transfer US$14,000,000.00 to me. I will let you keep 13 million if you let me use your back account. My friend says he will convert it to S$ and will transfer it batches of S$10,000. He is such a nice friend. 3 Link to post Share on other sites More sharing options...
Zoomzoom5535 5th Gear March 17, 2014 Share March 17, 2014 Please post your bank account. I have a friend from Nigeria who want to transfer US$14,000,000.00 to me. I will let you keep 13 million if you let me use your back account. My friend says he will convert it to S$ and will transfer it batches of S$10,000. He is such a nice friend. Good lobang. Faster grab !! Link to post Share on other sites More sharing options...
Matoonia 6th Gear March 18, 2014 Share March 18, 2014 This is long overdue, but better late than never I guess This is the full list of participating banks ANZ Bank CIMB Bank Citibank DBS Bank/POSB Deutsche Bank Far Eastern Bank HSBC Maybank OCBC Bank RHB Bank The Royal Bank of Scotland Standard Chartered Bank Sumitomo Mitsui Banking Corporation United Overseas Bank Link to post Share on other sites More sharing options...
Leezld 1st Gear March 18, 2014 Share March 18, 2014 Just tried the new FAST transfer today! Money was transferred from my DBS account to my Citibank account in less than a second. Super impressed... Link to post Share on other sites More sharing options...
BoneStock 5th Gear March 18, 2014 Share March 18, 2014 Just tried the new FAST transfer today! Money was transferred from my DBS account to my Citibank account in less than a second. Super impressed... I do transfer between the 2 same banks as well. Did you do it like you normally do or there's a different way for FAST? Link to post Share on other sites More sharing options...
Nlatio Turbocharged March 18, 2014 Share March 18, 2014 The thing is.... they should have this loooooong ago..... transfer from bank to bank take 3-4 working days.... you wonder whether the bank ask an Ah Pek.... take the $$$ and slowly walk to the other bank to bank in..... wtf..... 1 Link to post Share on other sites More sharing options...
Leezld 1st Gear March 18, 2014 Share March 18, 2014 I do transfer between the 2 same banks as well. Did you do it like you normally do or there's a different way for FAST? There's a special option under DBS Ibanking to transfer funds through the FAST system. Can also select the non-FAST way. Link to post Share on other sites More sharing options...
Little_prince Supersonic March 18, 2014 Share March 18, 2014 I just tried today. But 10k limit nia. Sibei leceh Link to post Share on other sites More sharing options...
Vid Hypersonic March 18, 2014 Share March 18, 2014 I just tried today. But 10k limit nia. Sibei leceh Haolian liao lah. So much cash to transfer here and there Link to post Share on other sites More sharing options...
RadX Moderator March 18, 2014 Share March 18, 2014 Haolian liao lah. So much cash to transfer here and there aiyah i jus go priv banking branch lo, 500k oso no prob. got coffee summore...kekekekeke Link to post Share on other sites More sharing options...
Wyfitms Twincharged March 18, 2014 Share March 18, 2014 Please post your bank account. I have a friend from Nigeria who want to transfer US$14,000,000.00 to me. I will let you keep 13 million if you let me use your back account. My friend says he will convert it to S$ and will transfer it batches of S$10,000. He is such a nice friend. 1 Link to post Share on other sites More sharing options...
Vid Hypersonic March 18, 2014 Share March 18, 2014 aiyah i jus go priv banking branch lo, 500k oso no prob. got coffee summore...kekekekeke You infected with the T2 bug? Link to post Share on other sites More sharing options...
RadX Moderator March 18, 2014 Share March 18, 2014 You infected with the T2 bug? u can't beat em, join em.... Link to post Share on other sites More sharing options...
Mustank Hypersonic March 18, 2014 Share March 18, 2014 Can use ATM to transfer? Link to post Share on other sites More sharing options...
Soya Supersonic March 18, 2014 Share March 18, 2014 aiyah i jus go priv banking branch lo, 500k oso no prob. got coffee summore...kekekekeke oii.....haolian contest on again ah? transfer 500k to pay full cash for your cayenne izit? Link to post Share on other sites More sharing options...
Benarsenal Turbocharged March 18, 2014 Share March 18, 2014 Anybody tried this today? Those who don't have a different bank account I can offer my bank account for you to try and transfer funds into. I have DBS, POSB, UOB, OCBC, Maybank, HSBC. Pls PM me for details :) Lai, I transfer to you... $1 Link to post Share on other sites More sharing options...
Jimmylim 4th Gear March 19, 2014 Share March 19, 2014 i just tried to transfer 10k, failed leh... say shortage of fund, bluff people one. ↡ Advertisement 2 Link to post Share on other sites More sharing options...
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