Transfer Money from POSB/DBS to Other Bank Account

How to Transfer Money from POSB/DBS to Other Bank Accounts

A funds transfer is one of the most widely used services offered by many financial companies. When your child in college needs money, it is a very common thing to perform a transaction from your POSB/DBS account to other local bank accounts.

Do you have no idea how to transfer money from POSB/DBS to other bank accounts? You’ve come to the right place.

As long as you have an iBanking account, doing money transfers to another bank account is an easy task. You can perform this transaction without leaving the comfort of your bed.

Transfer Money from POSB/DBS Account to Other Banks via iBanking

Before you follow these instructions, make sure you have a registered POSB/DBS internet banking account.

  1. Log in to POSB/DBS iBanking with your User ID and PIN.
  2. Click Transfer, followed by To Other Bank Account (Fast).
  3. Log in with your 6-Digit iB Secure PIN.
  4. Click the Recipient you wish to transfer to.
  5. Click the Account you wish to transfer from and enter the Amount you wish to transfer.
  6. Click the Purpose of Transfer and add Comments for the recipient if you wish to.
  7. Click Next to review the details, followed by Submit to complete the transfer.

Transfer Funds from POSB/DBS to Other Bank Account via Mobile Banking

Here is the step-by-step on how to transfer money from POSB/DBS to other bank accounts. Also, be sure you have a digibank mobile account to conduct this money transfer process.

  1. Log in to your POSB/DBS mobile banking account using your user ID and PIN or with your Face/Touch ID.
  2. Select the Pay and Transfer option and tap on Local.
  3. Choose the Recipient you would like to transfer money to.
  4. Choose the Fund Source you want to transfer money from.
  5. Input the Amount of money you wish to send.
  6. If you want to, you can select the Purpose of Transfer and add some Comment for the recipient.
  7. Tap on Next to review the transaction details and tap on Transfer Now to finalize the transfer.

You may also like: How to Check DBS/POSB Transaction History

How to Add Other Bank’s Recipient in POSB/DBS

  1. You can either log in to your POSB/DBS internet or mobile banking account to add a new recipient.
  2. Under the Transfer tab, select the More Transfer Services option in the drop-down menu.
  3. In the Manage Recipients and Transfers section, click on Add New Other Bank Recipient.
  4. Fill in the recipient’s details, such as the name, account, bank code, as well as bank branch.
  5. If you wish to, you may fill in your name, which will be delivered together as a part of the details of your transaction to the recipient in another local bank account. But this detail is optional.
  6. Now, you have successfully added a new recipient to your account. You may proceed to send money immediately using the two tutorials above.

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