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New electronic funds transfer service allows quick interbank transfers

New electronic funds transfer service allows quick interbank transfers

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egghead Offline
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#11
23-03-2014, 12:01 PM
My experience - if I make EPS payment on T+3, my broker will only receive the next day, T+4. For FAST, the moment I transfer, it is immediately reflected in my destination account.
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Temperament Offline
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#12
23-03-2014, 05:04 PM
High time for us to have this service FOC! i have tried it. Wonderful! If only they(banks) allow the transfer amount increases to $25000.0 per account. Then we all can use less other banking services. It's no very good for their chargeable banking fees, isn't it? i think that's why it take so..........o long for this service to reach us.
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CityFarmer Offline
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#13
23-03-2014, 09:05 PM (This post was last modified: 23-03-2014, 09:09 PM by CityFarmer.)
(23-03-2014, 12:01 PM)egghead Wrote: My experience - if I make EPS payment on T+3, my broker will only receive the next day, T+4. For FAST, the moment I transfer, it is immediately reflected in my destination account.

Yes, the experience is true. I have mistaken the transfer effective timing.

Anyway, it makes no different to me, I always pay on the T+1, once the contract is updated into the contract table.

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From DBS website on EPS

For EPS made before 2130 hours (Singapore Time), your broker will receive payment on the next working day. For EPS made after 2130 hours (Singapore Time), your broker will receive payment 2 working days later (for Friday, Saturday, Sunday and eve of public holidays, your broker will receive payment on the next working day regardless of the time of transaction).

Ref: http://www.dbs.com.sg/personal/ibanking/...fault.page
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