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Important Notice: New Bank Identifier Code (BIC) and Bank Code for Standard Chartered Bank (Singapore) Limited

Dear Clients,

Please note that we will be taking on a new BIC – SCBLSG22 – with effect from 8 July 2019 to allow our newly consolidated local subsidiary, Standard Chartered Bank (Singapore) Limited (“SCBSL”), to process local clearing for all Inter-bank GIRO, Fast and Secure Transfers (“FAST”), PayNow, MAS Electronic Payment System (“MEPS”) and Telegraphic Transfers transactions intended for accounts with SCBSL.

To ensure that transactions to your accounts are processed successfully, please request your remitter to select the new BIC when initiating new fund transfers to your SCBSL accounts.

You may refer to the table below for more information.

 

Bank Full Name Standard Chartered Bank (Singapore) Limited (“SCBSL”)

渣打银行(新加坡)有限公司

Businesses ·     Retail Banking (Retail + Wealth)

·     Business Banking

·     Corporate and Institutional Banking

·     Private Banking

·     Commercial Banking

SWIFT BIC SCBLSG22
Bank Code 9496
FAST/IBG/PayNow Bank Description

(Online / Mobile / ATM Channel)

Standard Chartered Bank Singapore or

Standard Chartered Bank (Singapore) Limited

(SCBLSG22)

¹As of May 2019, Standard Chartered’s Commercial Banking, Corporate & Institutional Banking and Private Banking businesses were transferred from its Singapore branch to its local subsidiary, Standard Chartered Bank (Singapore) Limited (“SCBSL”). SCBSL’s ratings are on par with the ratings of Standard Chartered Bank at A1/Stable by Moody’s Investor Services and A/Stable by Standard & Poor’s.

Frequently Asked Questions

  • As of May 2019, Standard Chartered Bank’s Commercial Banking, Corporate & Institutional Banking and Private Banking businesses were transferred 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, we onboarded a new infrastructure that will allow SCBSL to process local clearing services using its own BIC (SCBLSG22), with effect from 8 July 2019. SCBSL will operate fully under this new BIC and Bank Code (9496).

    This means that all funds transfers to your SCBSL accounts, including Inter-bank GIRO, Fast and Secure Transfers (“FAST”), PayNow, MAS Electronic Payment System (“MEPS”) and Telegraphic Transfers, will need to use this new BIC and Bank code with effect from 8 July 2019.

  • All payment transactions will need to select the new BIC (SCBLSG22) with effect from 8 July 2019. This is applicable for all new fund transfers such as Fast and Secure Transfer (“FAST”), Inter-bank GIRO, MAS Electronic Payment System (“MEPS”) and Telegraphic Transfers (“TT”) to Standard Chartered Bank (Singapore) Limited.

  • The sender should select “Standard Chartered Bank Singapore” or “Standard Chartered Bank (Singapore) Limited” when adding you as a payee via online or mobile banking.

  • For Local SGD Transfers, no action is required of you. We have worked with partner banks to update all payee and GIRO records to our new BIC (SCBLSG22) by 8 July 2019.

    For International Remittances, please request your remitter to use the new BIC (SCBLSG22).

    If you encounter any difficulty in making transfers, please contact our contact centre at (65) 6747 7000

  • No, there is no change to your existing account payee set up.

  • There will be no impact to your outgoing payments and they will continue to be processed by Standard Chartered Bank (Singapore) Limited using the new BIC (SCBLSG22). No action is required of you.