Understanding how to transfer money from POSB to POSB is very important, particularly when you are living in Singapore, and POSB is the bank you use.
Transferring funds from your POSB account to other POSB account can be made really easily. All you have to do is following these tips below.
There will be three ways on how to transfer money from POSB to POSB that will be displayed. You can tell how to transfer funds via iBanking, mobile banking and ATM.
All of them are very easy to do and everyone can do it all the time. Here they are.
Transfer Money from POSB to POSB via iBanking
- Open Digibank online on your browser.
- Login to your account using User ID and PIN
- Select the option “Transfer” and then click on the option “Other DBS or POSB Account“.
- You will be asked to enter your Secure PIN. Enter the 6-digit PIN.
- Choose the Recipient or other POSB Account to transfer the money to.
- Select the Account to transfer your money.
- Click on the “Currency” and then select the Amount of money to transfer.
- Click “Next“
- The transfer is completed
Transfer Money from POSB to POSB via Mobile Banking
- Login to your Mobile Banking account using User ID and PIN or using Fingerprint login.
- Tap on the option “Pay and Transfer“.
- Select the option “Local“
- Tap on the Recipient selection and enter the POSB account you wish to transfer the money to.
- Now, click on the “Fund Source” and then select your account.
- Enter the Amount of money transfer and then select “Next“.
- Review the details and when everything is correct, select “Transfer now“.
- The transfer is completed
Transfer Money from POSB to POSB Using ATM
- Insert your card and then enter your ATM PIN.
- There will be option “More Services” on the screen, tap the button to select that option.
- Followed by pressing the button for “Funds Transfer/Fixed Deposit“.
- Now, select the account type of yours.
- Tap on the button of “To Another Account“
- Enter the other POSB account you wish to transfer the money to.
- Enter the Amount of money.
- Verify the detail and now press “Confirm“
- The transfer is completed.
How Long Does It Takes for the Transfer to Complete?
The transfer should take less than 30 minutes to complete, unless you select for the later on option. You can decide the particular time for the money to get into the recipient’s account.
Can I Change the Amount of Money for the Transfer?
When the transfer is completed, you cannot change the amount of money. However, if the transfer has not been established and you have not clicked the option “transfer now” or “confirm”, you can change the amount of money to transfer.
Can I Transfer Money from POSB to Other Bank Accounts?
Yes! Read this article: how to transfer money from POSB to other bank accounts.
Can I Cancel the Transfer?
Once the transfer is completed, you cannot cancel it. The cancellation can only be done when the transfer is still being made and no confirmation has been established.