Business payments online made simple in local & foreign currencies
To another OCBC Singapore account
Make same-day fund transfers between OCBC accounts in SGD quickly, easily and free-of-charge via OCBC Velocity (Business Internet Banking).
To non-OCBC bank accounts in Singapore
| Standard processing (GIRO) | Instant processing (FAST - Fast And Secure Transfers) | Same-day processing (MEPS-MAS ELECTRONIC Payment System) | |
|---|---|---|---|
| Overview |
Automated electronic payment service, which takes up to 2 working days
for funds to be credited NEW Any businesses with an OCBC SGD Business Account and OCBC Velocity can set up payment to participating billing organisations in minutes with eGIRO. Learn more |
Instantaneous SGD transfers to participating banks | Same-day funds transfers to banks for high value & time-sensitive payments. Subject to cut-off times. |
| Suitable for | Non-urgent and recurring transfers (eg: vendor and payroll) | Urgent transfers | Urgent transfers |
| Availability | Working days only subject to cut off times | Anytime – 24/7, 365 days a year |
Working days only subject to cut off times as follow:
|
| Transaction limit | Maximum of S$90 million per transaction | Maximum of S$200,000 per transaction | No limit |
| Fees |
S$0.20 per transaction |
S$0.50 per transaction | S$20 per transaction |
- Standard processing (GIRO)
- Instant processing (FAST - Fast And Secure Transfers)
- Same-day processing (MEPS-MAS ELECTRONIC Payment System)
| Standard processing (GIRO) | Instant processing (FAST - Fast And Secure Transfers) | Same-day processing (MEPS-MAS ELECTRONIC Payment System) |
|---|
|
|
Singapore Dollar Cheques
- Cheque deposit service at any OCBC branch
- Additional charges apply if your cheque bounces
- Account will be deducted only when cheque is presented
Cashier's Order
- A guaranteed cheque issued by the Bank that will not bounce
- To be used when your beneficiaries want assurance of guaranteed payments
- Amount will be deducted upfront from your account when a cashier’s order is issued
Business Debit Card
- Consolidate your business expenses
- Make payments and withdraw cash easily
- Enjoy up to 1% cashback on your everyday business spend, with no minimum spend
| Outward Telegraphic Transfer (OTT) | International Automated Clearing House (IACH) | Network Transfer | |
|---|---|---|---|
| Overview | Make overseas payments in more than 60 currencies | Enjoy flat fee transfers without additional agent fees for payments to 8 markets | Enjoy lower cost and full value transfers between OCBC accounts in ASEAN and Greater China |
| Processing time | 1-2 business days | 2-3 business days | Same day transfers |
| Supports Full Value Transfers | No | Yes | Yes |
| Number of supported currencies | 64 | 8 | 6 |
| Fees | S$30 per transaction (includes commission, waived commission in lieu of exchange and cable fee) | Flat fee of S$30 per transaction | Flat fee of S$15 per transaction |
| How to get started | Learn more | Learn more | Learn more |
- Outward Telegraphic Transfer (OTT)
- International Automated Clearing House (IACH)
- Network Transfer
| Outward Telegraphic Transfer (OTT) | International Automated Clearing House (IACH) | Network Transfer |
|---|
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Cheque (USD cheques cleared in Singapore)
- Cheque deposit service at any OCBC branch
- Additional charges apply if your cheque bounces
- Account will be deducted only when cheque is presented
Demand Draft
- Foreign currency guaranteed cheque that will not bounce
- Amount will be deducted upfront from your account upon issuance of the demand draft
- Validity period of a Demand Draft is currency dependent
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