General
The purpose of this connection is to facilitate cross border funds and provide a convenient (24/7), fast (near real time), secure and cost-effective means of cross border funds transfer between Thailand and Singapore bank customers.
In essence, users of Singapore's PayNow and Thailand's equivalent PromptPay will be able to send money instantly and securely across the two countries with their mobile phone numbers that have been registered with PayNow and PromptPay respectively (“Mobile Proxies”).
Singapore participating banks
DBS, OCBC, UOB
Thailand participating banks
Bangkok Bank, Kasikorn Bank, Krung Thai Bank, Siam Commercial Bank, Bank of Ayudhya
Transfer
Please note you will receive two notifications if your funds are successfully transferred to your recipient. The first notification indicates a successful submission of your request. An additional notification will be sent to you when the transfer has been made. You can also refer to your bank account balance to check if the funds have been successfully debited.
As part of the PayNow-PromptPay service, a sender may ‘look up’ a Mobile Proxy to see the name which is associated with that Mobile Proxy, before initiating a transfer. The purpose of this feature is to provide the sender with a degree of assurance that he will be transferring the funds to his intended recipient, and so help to prevent erroneous transfers.
No. Your name will be partially masked. This will provide the sender with reasonable assistance in identifying his intended recipient, without disclosing your full name.
The Thailand recipient needs to have registered for PromptPay with one of the Thai banks participating in PayNow-PromptPay.
There is no need to re-register your mobile number if you are already registered with one of the PayNow-participating banks.
Transaction amount is capped daily at SGD1,000 per user per day, shared between digibank and iWealth apps.
There is a minimum transaction amount of SGD10 via digibank and iWealth apps.
The transfer is real-time and will reach your recipient almost instantaneously.
No. You can only transfer funds to an individual in Thailand via his Thailand Mobile number.
Receiving funds
You can only receive funds via PayNow-PromptPay into your bank account if you are PayNow-registered via the Mobile Proxy.
Fees & Charges
Currently, we do not charge any fees for PayNow-PromptPay service.
However, for recall of funds from Thailand recipient, there will be a recall fee of THB300. The amount will also be subject to FX losses, depending on the prevailing rate.
Notifications
Yes, you will receive an email notification to your DBS-registered email address.
Yes. For transfer via digibank or iwealth app, you will receive this notification via email, SMS or Push note, according to your PayNow alerts setting. You can change this under ‘Manage alerts’ page.
Other
PayNow users will be automatically opted into the PayNow-PromptPay service. In order to opt out of the PayNow-PromptPay service, you would need to de-register yourself from the PayNow. This would mean opting out of both the PayNow-PromptPay service and the PayNow service.