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
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.
Transaction amount is capped daily at SGD1,000 per user per day, shared between PayLah!, digibank and iWealth apps.
There is a minimum transaction amount of SGD10 via digibank and iWealth apps.
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.