Documentation

FAST (Fast And Secure Transfers) is an electronic funds transfer service in Singapore that lets users perform almost instant funds transfers from one bank to another in Singapore. FAST was brought in as a solution to remedy slow funds transfers, which would previously take up to three working days from bank to bank. From January 2019, the charge to the payer is S$0.50 per transaction.

Transfers must be in Singapore Dollars and be between one of the 19 FAST participating banks. As long as those criteria are met and the payer is able to use internet banking, either online or mobile, they can use FAST to make instant payments. It’s commonly used for paying bills and making interbank transfers between accounts.

Participating banks include:

FAST is available 24/7, and works via the consumers’ own online banking. They simply log in to their account, select FAST as the transfer method, and add the recipients bank details to make the payment. It’s important to note that the recipient also has to have an account at a participating bank.

From the customers online banking account, select fast as the payment method. User can then select where to send the money.