PayNow is an electronic fund transfer service that allows you to transfer SGD funds instantly to a payee, using the payee's designated mobile number or NRIC/FIN or UEN number instead of his/her bank account number.
A payee can receive funds via PayNow as long as he/she has a Singapore bank account with one of the PayNow participating banks, and has registered his mobile number, UEN or NRIC/FIN as a PayNow Proxy with the participating bank.
Currently, PayNow participating banks in Singapore are as follows:
- DBS Bank/POSB: https://www.dbs.com.sg/personal/deposits/pay-with-ease/paynow
- OCBC Bank
- Standard Chartered Bank
- United Overseas Bank
- Bank of China
Are there any fees associated with using PayNow?
There are no fees associated with using PayNow, as of July 2017.
Are there any Terms and Conditions I need to agree to in order to use the PayNow service?
By registering for PayNow, you agree to the Terms and Conditions Governing Accounts, Terms and Conditions Governing Electronic Services and the specific terms and conditions set out in the abovementioned FAQs.