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Important Information

Bank Identifier Code (BIC) and Bank Code for Standard Chartered Bank (Singapore) Limited

In May 2019, Standard Chartered Bank completed the transfer of its Commercial Banking, Corporate & Institutional Banking and Private Banking businesses from its Singapore Branch (“the Branch”) to its local subsidiary, Standard Chartered Bank (Singapore) Limited (“SCBSL”).

Following this, SCBSL has been operating under the Bank Identifier Code (“BIC”) SCBLSG22 and Bank Code 9496 since 8 July 2019 for all Interbank GIRO, Fast and Secure Transfers (“FAST”), PayNow, MAS Electronic Payment System (“MEPS”) and Telegraphic Transfer transactions intended for accounts with SCBSL.

Please note that any MEPS transactions initiated on, or value dated 31 December 2020 onwards received under the Branch BIC (SCBLSGSG) will be rejected.

To ensure that all transactions to your account(s) are processed successfully, please request your remitters to select SCBSL BIC (SCBLSG22) while initiating new fund transfers to your SCBSL account(s).

Please refer to the table below for more information:

BANK FULL NAME STANDARD CHARTERED BANK (SINGAPORE) LIMITED
渣打银行(新加坡)有限公司
BUSINESSES • RETAIL BANKING (INCLUDING WEALTH)
• BUSINESS BANKING
• CORPORATE AND INSTITUTIONAL BANKING
• PRIVATE BANKING
• COMMERCIAL BANKING
SWIFT BIC SCBLSG22
BANK CODE 9496
meps/ telegraphic transfer/
FAST / INTERBANK GIRO / PAYNOW BANK DESCRIPTION (ONLINE / MOBILE / ATM CHANNEL)
STANDARD CHARTERED BANK (SINGAPORE) LIMITED (SCBLSG22)

 

FAQS

Q. WHY ARE CHANGES MADE TO THE BANK IDENTIFIER CODE (BIC)?
A. IN MAY 2019, STANDARD CHARTERED BANK COMPLETED THE TRANSFER OF ITS COMMERCIAL BANKING, CORPORATE & INSTITUTIONAL BANKING AND PRIVATE BANKING BUSINESSES FROM ITS SINGAPORE BRANCH TO ITS LOCAL SUBSIDIARY, STANDARD CHARTERED BANK (SINGAPORE) LIMITED (“SCBSL”). ALL OF THE BANK’S BUSINESSES, INCLUDING ITS RETAIL BANKING BUSINESS, ARE NOW OPERATING UNDER SCBSL.

IN LINE WITH THAT, A NEW INFRASTRUCTURE WAS ONBOARDED TO ALLOW SCBSL TO PROCESS LOCAL CLEARING SERVICES USING ITS OWN BIC, SCBLSG22, STARTING FROM 8 JULY 2019. SCBSL HAS BEEN OPERATING FULLY UNDER THIS BIC AND BANK CODE 9496 SINCE THEN.

THIS MEANS THAT ALL FUND TRANSFERS TO YOUR SCBSL ACCOUNTS, INCLUDING INTERBANK GIRO, FAST AND SECURE TRANSFERS (“FAST”), PAYNOW, MAS ELECTRONIC PAYMENT SYSTEM (“MEPS”) AND TELEGRAPHIC TRANSFER, MUST USE THE BIC SCBLSG22, AND BANK CODE 9496.

Q. WHAT HAPPENs IF MY PAYERS INITIATE A meps PAYMENT TO Standard Chartered Bank Singapore BRANCH (“the branch”) BIC (SCBLSGSG) ON or after 31 DeCEMBER 2020?
A. all meps TRANSACTIONS INITIATED ON, OR VALUE DATED 31 DECEMBER 2020 Onwards TO the branch BIC (SCBLSGSG) WILL BE REJECTED.

please request your remitters to indicate Standard Chartered Bank (Singapore) Limited (SCBLSG22) when initiating MEPS payment to you.

Q. HAS STANDARD CHARTERED BANK NOTIFIED THE PARTNER BANKS ABOUT THE BIC CHANGE?
A. Yes, Standard Chartered Bank has notified the banks on the SWIFT network since mid-2019 about the business transfer and the need to update the subsidiary BIC (SCBLSG22) in their systems.
Q. IF I AM EXPECTING AN INWARD PAYMENT TO MY STANDARD CHARTERED BANK ACCOUNT FROM ANOTHER BANK VIA ONLINE FUND TRANSFER, WHICH BANK NAME SHOULD THE SENDER CHOOSE?
A. THE REMITTER SHOULD SELECT “STANDARD CHARTERED BANK (SINGAPORE) LIMITED”
Q. For interbank GIRO, FAST and PAYNOW TRANSFERS, what actions do i need to take?
A. standard chartered bank has MADE THE CHANGES CENTRALLY to ALL interbank GIRO, FAST and PAYNOW TRANSFERS for CLIENTS OF SCBSL. NO FURTHER ACTION IS REQUIRED OF YOU.
Q. i’m expecting an inward telegraphic transfer, what actions do i need to take?
A. For Telegraphic Transfer payments, to avoid delay in payments, please request your remitters to indicate Standard Chartered Bank (Singapore) Limited (SCBLSG22) when initiating Telegraphic Transfer to your SCBSL accounts.
Q. IF I HAVE REGULAR OR STANDING INCOMING REMITTANCES INTO MY ACCOUNT, WHAT ACTIONS DO I NEED TO TAKE?
A. FOR LOCAL SGD TRANSFERS via interbank giro:

NO ACTION IS REQUIRED OF YOU.
ALL PARTNER BANKS HAVE BEEN INFORMED ABOUT THE TERMINATION OF OUR branch BIC AND SHOULD HAVE UPDATED THEIR PAYEE RECORDS WITH OUR subsidiary BIC (SCBLSG22) since 8 JULY 2019.
IF A FUND TRANSFER FAILS, PLEASE CHECK if THE correct BIC (SCBLSG22) IS SELECTED. OTHERWISE, please CONTACT THE REMITTing BANK FOR ASSISTANCE.

 

FOR LOCAL SGD TRANSFERS via meps:
please REQUEST YOUR REMITTERs TO USE THE subsidiary BIC (SCBLSG22) for their standing remittance to ensure payments are processed successfully as ANY MEPS TRANSACTIONS INITIATED ON, OR VALUE DATED 31 DECEMBER 2020 onwards RECEIVED UNDER THE BRANCH BIC (SCBLSGSG) WILL BE REJECTED.

 

FOR INTERNATIONAL REMITTANCES: PLEASE REQUEST YOUR REMITTERs TO USE THE subsidiary BIC (SCBLSG22).

 

FOR FURTHER ASSISTANCE, PLEASE CALL OUR CONTACT CENTRE AT:
Personal Banking – (+65) 6747 7000 (24-HOUR)
Business Banking – (+65) 6743 3000 (Monday to Friday, 9am to 6pm)
Commercial Banking – (+65) 6245 8811 (Monday to Friday, 9am to 6pm)
Corporate and Institutional Banking – (+65) 6876 0888 (Monday to Friday, 9am to 6pm)

Q. WILL I HAVE TO MAKE CHANGES TO EXISTING ACCOUNT PAYEES OF OTHER STANDARD CHARTERED BANK (SINGAPORE) LIMITED ACCOUNTS THAT I HAVE ALREADY SET UP THROUGH ONLINE BANKING OR SC MOBILE?
A. NO, THERE IS NO CHANGE TO YOUR EXISTING ACCOUNT PAYEE SETUP.
Q. HOW WILL THIS AFFECT MY OUTGOING PAYMENTS (NEW AND EXISTING)?
A. THERE WILL BE NO IMPACT TO YOUR OUTGOING PAYMENTS AND THEY WILL CONTINUE TO BE PROCESSED BY SCBSL USING THE subsidiary BIC SCBLSG22. NO ACTION IS REQUIRED OF YOU.