POSB wire transfer: transfer time, fees, and limits

If you’re a POSB account holder, you may be seeking easy ways to send wire payments domestically or internationally. Take a look at this guide to learn about transfer time, fees, limits and more!

POSB Domestic Wire Transfer Fees

You have the option to make a domestic wire transfer online, via mobile banking service or by personally visiting your preferred branch. If you prefer the latter, make sure to set an appointment with a specialist.

For domestic wire transfers, provide the following information:

• Recipient’s name and contact details.
• Recipient’s bank account details and transit number.
• Wire routing number (also called the ABA code).
• Details of the payment amount and the desired processing date.

POSB International Wire Transfer Fees

For international wire transfers with POSB, you’ll need to following information:

• Name and address of the recipient in the foreign country.
• Recipient’s overseas bank account number.
• Recipient bank ID, like a SWIFT code, BIC or national ID.
• Foreign currency of the recipient’s bank account for currency exchange.
• Purpose of the wire transfer.

POSB Wire Transfer Limit

POSB has wire transfer limits on outgoing wire transfers through its online banking system, particulary:

POSB Cutoff Times

Keep in mind that POSB imposes a strict cut-off time for both domestic and international wire transfers. Make wire transfers before this designated time to ensure timely processing!

Sources

Timing and Limits for Overseas Funds Transfer
Fees and Charges for Overseas Funds Transfer

Disclaimer

The information provided in this guide is intended for general informational purposes only. While every effort has been made to ensure the accuracy of the information, banking policies and fees may be subject to change. Users are strongly advised to verify specific details and consult with their banks should they have any questions or concerns.

Instarem assumes no responsibility for any errors or omissions in this guide, or for any actions taken based on the information provided herein.