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The former POSB Centre, headquarters of POSB in the 1980s, now known as the NTUC Trade Union House. In 1971, it was announced that the bank would become a statutory board under the Ministry of Communications. The Post Office Savings Bank Bill was passed in Parliament on 30 July 1971 and the bank ceased to be a branch of the Postal Services ...
The system is supported by all major Singaporean banks and is regulated by the Monetary Authority of Singapore (MAS) and works by transferring funds between two bank accounts. Payments can be made to any registered Singaporean mobile number , NRIC , corporate Unique Entity Number (UEN) or Virtual Payment Address (VPA). [ 1 ]
As of 31 December 2015, POSB had total assets valued at US$133.7 million, with $63.81 million in customer deposits and made an after-tax profit of US$7.9 million in the calendar year 2015. [ 2 ] As at that time, the bank had over 500,000 savings accounts, maintained 34 brick and mortar branches, [ 3 ] operated 220 agency branches through ...
Transferring money from one bank to another has never been easier, thanks to the rise of online banking. Read on to learn how to transfer your money.
Keep fees in check when you shift money from one bank account to another. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 ...
Bank wire transfer: Banks and financial institutions typically allow large sums to be sent through wire transfers. It’s a secure option with a flat fee, usually $50 or less. It’s a secure ...
NETS operates Singapore's national debit scheme enabling customers of DBS Bank, POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank, CIMB and UOB to make payments using their physical/contactless ATM cards or mobile devices at more than 120,000 acceptance points in Singapore including major retailers, food courts, hawker centres, convenience stores and supermarkets.
Commercial banks in Singapore may undertake universal banking, such as the taking of deposits and the provision of cheque services and lending, as well any other business authorised by the Monetary Authority of Singapore, including financial advisory services, insurance brokering and capital market services, as long as they are permitted under section 30 of the Banking Act.