SME Online Banking Frequently Asked Questions (FAQs)
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• Funds Transfer
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International Funds Transfer
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  Funds Transfer  

What kind of funds transfer can customers do in this service?
Customers can do –
   1. Fund transfers to 3rd party accounts within Standard Chartered
   2. Fund transfers to 3rd part accounts with other banks within Singapore
   3. Applications for Telegraphic Transfers


Do Customers need to pre-register 3rd party payee before they can use the funds transfer facility?
Yes, they will need to pre-register the 3rd party accounts or the GIRO participating bank accounts by filling up the Business Electronic Banking Maintenance Form (if existing electronic banking user) or Business Electronic Banking Form (if new applicant)and submitting it to Standard Chartered Bank (Singapore) Limited, Operations Shared Services, Tampines Central, P.O. Box 0393, Singapore 915214.


If I do not want my users to make fund transfers to 3rd party payees, what can I do?
Customers can stop their users from making fund transfers to 3rd party payees by not pre-registering 3rd party payees in the application form.


Are all users able to make transfers to 3rd party accounts?


Can I restrict my users to make payments to particular 3rd parties?
No, all users can make payments to all pre-registered 3rd party Payees.


How long does the customer need to wait after they have pre-registered the accounts before they can transfer the funds?
3-5 working days.

7. How many payees can customers add in Internet banking?
Customers can add up to 10 Inter-bank (within Singapore) account payees and up to 10 Standard Chartered account payees.

When will the funds be available in the receiving account after the customers make a Fund Transfer to accounts within Standard Chartered?
Funds transfer to other Standard Chartered SGD accounts will take effect immediately after the transaction.


When will the funds be available in the receiving account after the customer made an Interbank fund transfer?
Funds will usually be available to payee in 2 to 3 business days later, subjected to the receiving bank. However, the amount will be debited from the Standard Chartered account on the same day for immediate transfer. It is advisable for customers to make allowance and pay 1 business day before the due date to cater for any unforeseen delays.


How do users know if their Interbank Fund transfer is successful?
The successful transfer will be reflected in the month-end statement. However, should the fund transfer transaction be unsuccessful, they will receive a credit advice from the bank to notify of the Interbank GIRO returned item. Customers can also check the Payment & Transfer History section online to see status of their Inter-bank Fund transfer.


When will customer get back the funds if his or her Interbank Fund transfer is not successful?
If the Interbank Fund transfer is rejected, the transferred amount should be credited back to the account by the payee bank on the third business day.


Is there a maximum limit on the amount of funds I can transfer?
For transfer of funds between own accounts, customer can transfer up to the available balance in the account.

For transfer of funds to 3rd parties (Within Standard Chartered + Interbank Transfers), customers can transfer up to the maximum daily limit allowed of S$50,000 unless they have lowered the Transfer limit to a personal amount.

For Telegraphic Transfers customers can transfer upto S$50,000 per transaction.


Can users lower the maximum daily limits for 3rd party Funds Transfer and subsequently increase it online?
Users can lower the daily limits anytime, via (My Preference) to reduce the daily transfer limit. However, please note that if users wish to revert to a higher transfer limits or the original maximum daily limit, they will have to write in to us using a free format letter duly signed by the Approving Signatories.


What are the transfer modes available in this service?

  • Immediate Fund Transfer

  • Post dated (one-time transactions at a specified future date) and

  • Scheduled transfer (recurring transactions at a specified day of the month)

    Can customers maintain their Post-dated or Scheduled funds transfer instructions?
    Customers can maintain their Post-dated or Scheduled Fund Transfer instructions in the Payment & Transfer History section online.


    Can customers do a foreign currency transfer via Internet Banking?
    Yes, customers can do a cross currency transfer using our fund transfer facility or using the ‘International Fund Transfer’ for telegraphic transfers.


    If a fund transfer was made on a public holiday, when will it be processed?
    Transactions done on public holiday/ non-business day will be processed on the next working/business day.

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