Banking
Singapore — Banking: International Transfers
FAST and PayNow are Singapore's fast domestic SGD transfer rails (public scheme limit S$200,000 per transfer, subject to individual bank/account controls) — neither is a channel for international remittances. Overseas transfers require a separate international/cross-border wire, card, or wallet service. Individual banks may impose their own daily transaction limits below the public scheme cap (e.g. Standard Chartered lowered its daily limit to S$5,000 for some accounts) — the actual usable limit depends on the specific bank, channel, and account type.
VerifiedGovernment / official sourceDBS / banksinsg.com transfer service guidesLast reviewed: 2026-07-20
Key facts
- FAST and PayNow: domestic SGD transfer rails only, public scheme limit S$200,000/transfer — NOT used for international remittances.
- Overseas transfers require a separate international wire/card/wallet service distinct from FAST/PayNow.
- Individual banks can impose lower daily limits than the public scheme cap — e.g. Standard Chartered lowered some account limits to S$5,000/day.
- Actual usable transfer limit depends on the specific bank, app channel, payee profile, and account type — not just the public scheme maximum.
Required documents
- Recipient's international bank details (SWIFT/IBAN as applicable)
- Purpose of transfer declaration for larger amounts
Common mistakes
- Attempting to use FAST or PayNow for an international/overseas transfer — these are domestic-only rails; a separate international transfer service is required.
- Assuming the S$200,000 public scheme limit is always available — actual limits are often lower and vary by bank, channel, and account type.