PayNow is a peer-to-peer funds transfer service available to customers of these seven participating banks: Citibank Singapore Limited, DBS Bank/POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank, and United Overseas Bank.
With PayNow, you enjoy an enhanced funds transfer service that lets you send and receive Singapore Dollar funds almost instantly from one bank to another through FAST – just by using the recipient’s mobile number or Singapore NRIC/FIN. The service is free, secure, and available 24/7.
PayNow is brought to you by ABS and the banking industry in response to the increased demand from customers to make funds transfer more convenient and efficient. The sender no longer needs to know the recipient’s bank and account number when doing fund transfers. They can simply send money using the recipient’s mobile number and/or Singapore NRIC/FIN.
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HOW TO RECEIVE money
You just need to link your mobile number and/or Singapore NRIC/FIN to the bank account that you want the money to be transferred to. This is a one-time registration.
Step 1:Log in to your bank’s existing internet banking or mobile banking app.
Step 2:At the PayNow registration screen, link your mobile number and/or Singapore NRIC/FIN to the bank account. You will next receive an SMS OTP for verification.
Step 3:Finally, enter the name that will be used to identify you to complete the setup.
IF YOU CHANGE YOUR MOBILE NUMBER
Please notify your bank of the change in mobile number. Your previous number will be de-linked from your bank account. You can then link your new mobile number to your bank account.
HOW TO SEND money
Use a mobile number to send money securely and almost instantly to anyone who has set up the PayNow service.
Step 1:Log in to your bank’s existing internet banking or mobile banking app.
Step 2:At the PayNow transfer screen, enter the recipient’s mobile number or NRIC/FIN, and the amount to be transferred.
Step 3:Verify that the recipient’s name (as registered on PayNow) is correct before confirming the transfer.
PAYNOW IS OFFERED BY THESE PARTICIPATING BANKS