Online banking services make any type of transaction from one bank account to another under the same financial institution become much more manageable. You can perform those transactions using many different devices. Though each method has its own pros and cons, all do the work properly.
If you have a DBS account and wish to transfer to another DBS bank account, there won’t be any transfer fee. But it will be a whole different story if you make a transaction to another bank account, such as OCBC. Even so, the methods of transferring money are pretty much the same. To know how to transfer money from DBS to OCBC using ATM, let’s delve into the following discussions.
Transfer Funds from DBS to OCBC Using ATM
To send money from your DBS account to your OCBC bank account using your ATM card, you first need to find the nearest DBS ATM.
- Insert your Debit or ATM Card and input your card PIN.
- Select the More Services option.
- Select the Funds Transfer/Fixed Deposit option.
- At the Account Type option, select Debit.
- At the Account Type option, select Credit.
- Press the button for To Another Account.
- Input the account number you want to send money to and enter the sum.
- Verify the transaction details and select Confirm.
You may also like: How to Change DBS ATM PIN
Transfer Money to OCBC Through iBanking FAST
Sending money to your other local bank account doesn’t have to be done in an ATM. Online banking services have made any type of transaction convenient and fast. Here is the step-by-step tutorial on how to transfer money from DBS to OCBC using ATM without having to actually go to the ATM:
- Log into your DBS internet banking account.
- Click Transfer and select the To Other Bank Account (FAST) option.
- Insert the one-time password if prompted.
- Under the To menu:
- Paying to: Add a new recipient or use the drop-down menu to find out the existing recipient.
- Recipient’s name: Insert the recipient’s name.
- Recipient’s bank: From the drop-down menu, select the bank you wish to transfer to.
- Recipient’s account number: Input the account number of the recipient.
- My initials: Insert your name.
- Under the From option:
- From account: Choose which account number you wish to transfer money from.
- Transfer amount: Insert the number of funds you want to send.
- Purpose of transfer: Choose a purpose why you send the money.
- Comments for the recipient: Include few comments, but you can also leave them blank.
- Select Next and confirm that the details of your transaction are correct.
- If it’s a new recipient, you will need to insert your DBS internet banking secure PIN.
- Select Submit, and the transaction is now completed.
Important to note, if you are sending money to other banks that aren’t a part of FAST, your transactions will only be completed within two to three working days. Suppose you conduct a money transfer before 8 pm on a business day. In that case, the transaction will be completed after two working days.
However, if you transfer money to another local bank account, such as OCBC after 8 pm on a business day, the recipient is able to receive the funds after three business days.