Do you need to transfer funds daily? If so, the daily transfer limit may be quite disturbing for you as it retracts you back from dealing with the transaction. This default transfer limit is set at the time you open an account.
That amount may be lower than you need because you don’t find that you need to transfer this much. Good news is, this limitation can be amended. This article will show you how to change transfer limit in POSB/DBS.
Is It Possible to Change the Transfer Limit in POSB/DBS?
Have you ever needed some payment that you need to paid as soon as possible? If you have had such experiences, you must be annoyed when your bank account says no because the amount of funds transferred will exceed the limit. What should you do if these circumstances occur?
As we said earlier, it is possible to change the daily default transfer limit. Hence, you should not worry about having your transaction halted due to your limit already reached.
How much is the Default Transfer Limit for POSB/DBS Account?
The default daily fund transfer for POSB/DBS to other POSB/DBS account is S$3,000. While for interbank transfer, the daily limit is S$1,000 in default. Both of these transfer details have the same upper transfer limit, which is S$200,000.
The S$3,000 and S$1,000 transfer limits are changeable. You can make it higher or lower than the default. Plus, resetting back to default is also doable.
The process is not that difficult, you only need to do it either through digibank Online internet banking or mobile banking.
Make sure you have access to this service before you access the internet banking portal page or logging in to your account via mobile banking app.
You may also like: How to Change DBS/POSB ATM Withdrawal Limit
Changing Daily Limit Transfer of POSB/DBS
If you wish to change your POSB/DBS account daily transfer limit, either increasing or reducing it, you can do it with any of these methods:
Change Transfer Limit POSB/DBS via iBanking
- First of all, make sure to launch your browser, visit the internet banking DBS/POSB and log in to your account. Use your valid User ID and PIN to log in.
- Choose Transfer, and continue with clicking More Transfer Services.
- Below Manage Recipients and Transfers menu, pick Change local transfer limit.
- Authenticate your action by logging in back with your 6-digit PIN when prompted.
- Choose the transfer type, and then set a New Limit.
- To verify that this is your own action, 2-factor authentication is what you must do next.
- Finalize by clicking Submit.
Update Transfer Limit POSB/DBS
- With your digibank User ID and PIN, or with Face / Touch ID, log in to your mobile banking system.
- On your screen, find and tap More. Then, choose Local Transfer Limit menu under Transfer settings.
- Pick the transfer type which limit you want to edit, and set your new daily limit.
- Tap Next and you will be directed to a review screen. Make sure everything is according to your preference before you tap Change Daily Limit Now.
Once you complete any of these methods of how to change transfer limit in POSB/DBS, the setting applies immediately. Therefore, you can now transfer more bucks and stay hassle-free from daily limit!