Business payments online made simple in local & foreign currencies

LOCAL BUSINESS PAYMENTS IN SINGAPORE DOLLAR

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)
Standard processing (GIRO) Instant processing (FAST - Fast And Secure Transfers) Same-day processing (MEPS-MAS ELECTRONIC Payment System)
Overview
Suitable for
Availability
Transaction limit
Fees
Standard processing (GIRO) Instant processing (FAST - Fast And Secure Transfers) Same-day processing (MEPS-MAS ELECTRONIC Payment System)

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 funds transfers to banks for high value & time-sensitive payments. Subject to cut-off times.

Non-urgent and recurring transfers (eg: vendor and payroll)

Urgent transfers

Urgent transfers

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:

  • Before 4.30pm via OCBC Velocity
  • Before 3pm at OCBC branches

Maximum of S$90 million per transaction

Maximum of S$200,000 per transaction

No limit

S$0.50 per transaction

S$20 per transaction

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
View business banking pricing guide

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
Learn more about the OCBC Business Debit Card

INTERNATIONAL MONEY TRANSFER IN FOREIGN CURRENCIES

Outward Telegraphic Transfer (OTT)

  • The secure way to make overseas payments and transfers in over 60 currencies
  • Pay in local currency such as VND to Vietnam and KRW to South Korea
  • Retrieve a copy of MT103 from OCBC Velocity (Business Internet Banking) and OCBC Business app as evidence of payment.
  • Track end-to-end payment status in real time with SWIFT gpi.
  • Commission of S$30 per transaction submitted via OCBC Velocity (Business Internet Banking), OCBC Business app, Host-to-Host, or API. Other charges may apply (refer to pricing guide).

International Automated Clearing House (IACH)

  • Cross-border low-value electronic transfer service at a flat fee
  • Transfer payments to your beneficiary in local currency of their countries
  • Suited for regular, non-urgent overseas transfers, with transfers completed in 3-5 days.
  • Certainty of full value transfers

Learn more about International Automated Clearing House (IACH)

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

View business banking pricing guide

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

APPS FOR ONLINE MONEY TRANSFER FOR BUSINESS
OCBC business mobile banking app

OCBC Business app

A simpler and more convenient way to bank on-the-go.

Learn more

A simpler and more convenient way to bank on-the-go.

Learn more
OCBC PayNow for businesses

PayNow for businesses

Your business can now receive payments or make transactions easily with PayNow.

Learn more

Your business can now receive payments or make transactions easily with PayNow.

Learn more