Can I transfer funds to any DBS and POSB accounts?

You can transfer funds:
- Between your DBS/POSB Singapore Dollar, Multi-Currency Autosave (MCA) and Wealth Investment Multi Currency Settlement Accounts (MCSA)
- Between DBS Cashline and Credit or Charge Cards*
- Transfer Funds to Another DBS or POSB Account (One-Time) allows you to transfer funds immediately to another account within DBS or POSB without adding a recipient.
Please note that you will not be able to perform a transfer to Foreign Currency Current Account (FCCA). You may only view the account balances in your FCCA.

^*The Credit Card limit shall apply.
Can I transfer to corporate accounts?

Yes, you can transfer to another Corporate DBS Current/Corporate Plus accounts.
Can I transfer to accounts of other banks?

You may transfer to accounts of another bank by using the ”Transfer Funds to Another Banks Account” service. To find out more, click here.

Can I transfer funds to another DBS/POSB account at any time?

The below table gives a summary of the types of transfers you can make between your own accounts, as well as the submission and processing times.

Singapore Dollar Transactions

When Transferring	Example	Submission & Processing
Between Wealth Investment Multi Currency Settlement Accounts (MCSAs)	Transfer from Multi Currency Settlement Account #A to Multi Currency Settlement Account #B	Submission is available at any time of the day and transaction will be processed immediately.
Between DBS/POSB Singapore Dollar and Multi-Currency Autosave (MCA) Accounts	Transfer from POSB Savings Account to Multi Currency Autosave (MCA) Account	Submission is available at any time of the day and transaction will be processed immediately.
Between DBS/POSB Singapore Dollar, Multi-Currency Autosave (MCA) and Wealth Investment Multi Currency Settlement Accounts (MCSA)	Transfer from DBS/POSB Singapore Dollar (or MCA) accounts to Wealth Investment Multi Currency Settlement Account (MCSA) and vice versa	Submission is available at any time of the day. Transactions will be processed immediately after submission except for the last day of the month, where transactions will only be processed the next day if the submission is made between 2000 hr and 0000 hr.

Please note that funds transfers made after 2330 hr (or 2030 hr on the last working day of the month) will not be available for any deductions such as (but not limited) to GIRO items, cheque clearing and payment of loan instalments that have been pre-scheduled for the following day.

Foreign Currency Transactions

When Transferring

Example

Submission & Processing Schedule

Between Wealth Investment Multi Currency Settlement Accounts (MCSAs)

Transfer from Multi Currency Settlement Account #A to Multi Currency Settlement Account #B

Submission is available at any time of the day and transaction will be processed immediately.

Between DBS/POSB Singapore Dollar and Multi-Currency Autosave Accounts

Transfer from POSB Savings Account to Multi Currency Autosave Account

Submission is available only between 0900 hr and 2100 hr on working days. Transactions will be processed immediately within the same time period.

On any last calendar day of the month that also falls on a working day, submission is available only between 0900 hr and 2000 hr.

Note: Working days are Mondays to Fridays, excluding public holidays.

Please note that funds transfers made after 2330 hr (or 2030 hr on the last working day of the month) will not be available for any deductions such as (but not limited) to GIRO items, cheque clearing and payment of loan instalments that have been pre-scheduled for the following day.

Do I need to apply?

This service is made available to you unless you deactivate it. Before you can do a funds transfer to another DBS or POSB account, you will need to add your recipient’s account through the iBanking OTP authorisation process.
How do I add a recipient account?

Select “Add New DBS or POSB Recipient" on the “Transfer” tab of the top navigation. Enter the required information and complete the transaction to add a recipient account.

You may add up to a maximum of 20 recipients.
Do I have to remember the Recipient Account Number each time I make a transfer?

It is not necessary to remember the Recipient Account Number as you will be able to view both the Recipient Account Number and Name in the "Recipient Account" dropdown list after adding New DBS or POSB Recipient.

How much can I transfer?

The initial daily transfer limit for funds transfer to local accounts is as below:

	Type of Transfer
	To Another DBS or POSB Account	To Another Bank's Account
Initial Default Limit
For DBS or POSB Customers	$3,000	$1,000
For Wealth Customers	$5,000	$5,000
Maximum Transaction Limit
For DBS or POSB Customers	$25,000*	$50,000
For Treasures Customers	$100,000	$100,000
For Private Bank & The Private Client Customers	$250,000	$250,000

You can change this limit anytime by accessing the "Change Local Transfer Limit" service, which can be found under "More Transfer Services" on the "Transfer" tab. This can be changed to a maximum of $25,000.

If you wish to set a transfer limit above $25,000, please fill in the Update Fund Transfer Limit form .

For each Wealth Investment portfolio, there is a maximum daily transfer limit of up to S$250,000 (or equivalent in foreign currencies) capped on the MCSA.

How do I know how much remaining daily limit I have for 3rd Party Funds Transfer?

The Authorised Daily Limit and Remaining Daily Limit is available on the top of the page.
How do I do transfer funds to another DBS or POSB account?

You may transfer funds by selecting “To Another DBS or POSB Account”, which can be found on the “Transfer” tab of the top navigation.
When will the funds be available in the receiving account after I make an immediate Funds Transfer?

For immediate funds transfer to DBS or POSB account, the transfer will be effected immediately.
Can I assign a future date for a 3rd Party Funds Transfer?

Yes, you can designate a future date for your transfers, up to 30 days in advance.
How will I know if a Future Transfer is successful?

If the transaction cannot be carried out on the date set by you, we will inform you via "Notifications". You may set a maximum of 50 future-dated fund transfers and future-dated bill payments allowed for the same requested date of transfer.

You can also view the status of your future transfers or check the reason for rejected transactions under the service "View/Delete Post Dated Funds Transfer". All details of future transfers will be displayed for up to 1 month from the date of transfer.
Can I delete my Future Dated Funds Transfer?

Yes, all pending fund transfers can be deleted. Please make use of the "View or Delete Post-Dated Funds Transfer" service. This service can be found under “More Transfer Services”, which can be found under the “Transfer” tab of the top navigation.
How do I terminate a selected account that I do not need?

Select “More Transfer Services”, which can be found under the “Transfer” tab of the top navigation. Click on “Delete DBS or POSB Recipient” under “Local Transfers”.

Select the account you wish to terminate and click "Next". Check that the details are correct, before clicking “Submit”. Please note that if you have future-dated transfers with pending status, you will not be able to terminate the pre-designated account.
Can I opt out of the 3rd Party Funds Transfer service if and when I have no need for it?

Yes, you can choose to deactivate your 3rd Party Fund Transfer using "Deactivate Funds Transfer Services". The deactivation will be immediate, and if you need to reactivate the service, please mail us the Update Fund Transfer Limit & iB Message Contact Number form .
I have transferred money to the wrong account. How do I attempt to recover the funds?

You may follow the below steps:

Step 1: Record the account number of the wrong recipient that you have set up. After you have recorded it down, delete this recipient from your list of recipients.

Step 2: Proceed to the nearest branch immediately to sign a form in order to recover your funds. Please provide our staff at the branch with the following information:
- Date of transaction
- The account number from which the funds were debited from
- The wrong account number to which funds were transferred to
- The name of the bank and the branch the funds were transferred to
- The transaction amount
- The transaction reference number (if available)
We will then attempt to help you retrieve the funds which were transferred to the wrong account.

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