Interbank funds transfer is getting more and more common these days, especially when e-commerce is getting more and more frequent to fulfill our needs. Hence, you should know how to perform interbank funds transfer to ease your transfer process.
You may send directly the money to the bank, but that is not effective there are various methods that you can use to transfer your money.
For POSB/DBS bank users, this article below will show you how to transfer money from UOB to POSB?
Can I Transfer Funds from UOB to POSB?
It will be a lie to say you cannot transfer from UOB to POSB. Funds transfer within these banks is doable, and there is this certain feature that enables you to perform a quick transfer, named as FAST.
FAST is a program that cuts down the normally 3 days interbank transfer waiting period. This program features instant online fund transfer that can be conducted within participating banks. Luckily, UOB and POSB are two member banks joining FAST.
Methods of Transferring Funds from UOB to POSB
In order to perform interbank transfer from UOB to POSB, the procedure that you need to do can be done through ATM or internet/mobile banking.
However, for corporate customers, you cannot conduct the transfer via ATM hence you are suggested to do it via internet/mobile banking.
How to transfer money from UOB to POSB? Find out below how to do it easily in the step-by-step procedure below.
Transfer Money from UOB to POSB Using ATM
- First of all, insert your ATM card to the prepared slot. Enter your PIN when prompted.
- Choose Other transactions and continued by Funds Transfer.
- Choose where your funds will be taken from linked current account/linked savings account
- Pick any account number that your transfer funds will be conducted from.
- Then, choose To Other Bank’s Account.
- Once you are there, you will be prompted to input the payee’s account number and amount of transfer.
- Review your transaction and confirm it to finalize the process.
Transfer Money from UOB to POSB via Mobile Banking
- Make sure you have downloaded the mobile banking application.
- Then, log in to your banking account using your user ID and PIN.
- On the shown screen, proceed by tapping Pay/Transfer.
- Choose Other Accounts/ Cards.
- Pick any accounts of payees that you wish to pay your funds to. If you cannot find any, you should add them POSB account owner as one of your payee beforehand.
- Next, you will be redirected to a page where you can set the amount and when you want to send the funds. Through this, you can set a scheduled payment as well.
- There are additional settings as well. If yours is a one-time transfer, simply ignore this, and continue your payment to the confirmation page.
- Review your transfer on the confirmation page. Make sure everything is well-adjusted and confirm your transfer afterwards.
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Transfer Money from UOB to POSB via Internet Banking
- Log in to UOB internet banking.
- Click Pay and Transfer.
- Select Transfer Funds/Fund Transfer.
- Click Others.
- Click Add Payee.
- Click Account Number and fill in the Payee Details.
- Click on the POSB account that you just added, fill in the necessary details.
Doing interbank transfer using UOB internet banking is pretty much similar to transferring via mobile banking. The interface may be slightly different, but the tasks that you should complete are just similar.
Now that you know the answer to how to transfer money from UOB to POSB, you will say that to perform interbank transfer is a piece of cake. It can even be done by spooning one bite of cake into your mouth.