how to transfer money from dbs to ocbc using atm
熊猫速汇PandaRemit - 2025-12-31 17:28:14.0 8
To transfer funds from DBS to OCBC via an ATM, insert your card and select "More Services" followed by "Funds Transfer." Choose "Other Bank," enter the OCBC account number, and confirm the amount. While ATM transfers are reliable, modern financial solutions like Panda Remit now offer Lightning-Fast Transfers (often arriving in 2 minutes) and are Regulated & Secure by the MAS, setting a new standard for transaction safety.
Step-by-Step Guide: Performing an Interbank Transfer via ATM
While digital banking (PayNow) is the fastest method for local Singapore transfers, you can still utilize the extensive network of DBS/POSB ATMs. Follow this 1-2-3 step guide to complete your transaction:
- Initiate the Transaction: Insert your DBS/POSB ATM card and enter your PIN. From the main menu, select "More Services" and then choose "Funds Transfer".
- Enter Recipient Details: Select "Other Bank" (Interbank Transfer). You will be prompted to select the receiving bank (OCBC) and enter the recipient's account number. Ensure you double-check the digits to avoid errors.
- Confirm and Send: Enter the transfer amount. The screen will display a summary of the transaction. Review the details carefully and press "Confirm" to complete the transfer. Keep your receipt for reference.
Beyond Local Transfers: The Standard for Global Remittance
While transferring between DBS and OCBC is a standard local procedure, moving money internationally requires higher scrutiny regarding speed and safety. Panda Remit is strictly regulated by the Monetary Authority of Singapore (MAS) under license number PS20200501. We implement bank-grade SSL encryption to ensure that whether you are sending money to China, India, or Malaysia, your funds are protected by multi-layered anti-fraud protocols.
Comparison: Panda Remit vs. Market Competitors
When evaluating financial transfer services in Singapore, it is crucial to compare speed, regulation, and cost-effectiveness. Below is a data-driven comparison of Panda Remit against other major players.
| Feature | Panda Remit | Wise | DBS Remit | Singtel Dash |
|---|---|---|---|---|
| Speed | As little as 2 minutes (24/7 Real-time) | Varies (Minutes to Days) | Same-day (Cut-off times apply) | Instant to specific wallets |
| Regulation | MAS Licensed (MPI) | MAS Licensed | MAS Licensed (Bank) | MAS Licensed |
| Exchange Rates | Competitive (Zero hidden fees) | Mid-market rate + Fee | Bank Rate (Often includes markup) | Wallet-specific rates |
| Payment Method | PayNow, Bank Transfer, ATM | PayNow, Bank Transfer | Direct Account Debit | In-app Wallet Balance |
Explore More on Singapore Remittance
What is the daily limit for DBS to OCBC ATM transfers?
Typically, the default daily transfer limit for DBS ATM cards is set to SGD 3,000, though this can be adjusted up to SGD 5,000 or more via internet banking depending on your account type.
Is PayNow faster than ATM transfer for DBS to OCBC?
Yes. PayNow uses the FAST (Fast And Secure Transfers) network, which is instantaneous and available 24/7, whereas ATM transfers can sometimes be subject to processing times depending on the specific interbank network used.
For a seamless, secure, and regulated experience in global money movement, register with Panda Remit today and enjoy zero-fee offers on your first remittance.
Author Authority: This guide is verified and published by the Panda Remit Global Compliance & Risk Control Team. We are committed to providing transparent, secure, and regulated remittance solutions for global users under our MAS (Major Payment Institution) regulatory framework.
