Banking products let you make payments and transfer money easily. Find out more about payment modes, transfers, and online and mobile banking
- Banks provide a variety of payment options depending on your needs.
- Payment orders include standing orders, cashier's orders, demand drafts and telegraphic transfers.
A charge card is an alternative payment mode to using cash when making purchases. Charge card bills must be paid up in full by the due date every month. Balances incurred on charge cards cannot be rolled over from one billing cycle to the next.
Also known as electronic funds transfer at point-of-sale (EFTPOS). You can use your ATM card or debit card to make NETS payments for your purchases. Once the transaction is approved, the amount is immediately deducted from your bank account.
A standing order is an instruction you give to your bank to transfer specified sums of money regularly to a person or organisation. Or transfer to your other bank accounts. You can amend or cancel the standing order as and when you like.
A cashier's order is a form of cheque you can request from the bank, payable to anyone in Singapore for a stated amount in SGD.
A demand draft is a written order issued by the bank to their overseas correspondents to pay a stated amount (this may be in a foreign currency or SGD) to anyone you want.
Outward telegraphic transfer
An outward telegraphic transfer (TT) is a payment sent by SWIFT or Telex to an overseas person. Payment should be received within a few days depending on the currency, destination, period, and the agent bank used. This is a faster way of sending money overseas, but it costs more than a demand draft.
Ways to bank
With an ID and password, you can use your smartphone to carry out various banking transactions, such as fund transfers, and to check account information.
Log in to your bank’s website to check account information, pay bills, transfer funds, and explore other services and products. Safeguards such as banks' requirement for two-factor authentication (2FA) makes banking on your devices more secure.
Guide to banking products and services
Understanding bank accounts Understanding cheques Understanding debit cards Guide to Fast And Secure Transfers (FAST) Guide to GIRO Understanding money-changing Payment options, transfers and banking modes Understanding overdrafts Understanding money transfers Understanding e-wallets Understanding deposit insurance Understanding online banking security