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Anonymous

12 Aug 2021

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Is DBS Multiplier PayNow and FAST transaction reliable?

I have gone through the reviews on DBS Multiplier but I would like more first-hand feedback on the PayNow and fast transactions. Thanks in advance!

DBS/POSB Multiplier Account

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Sherwin Lim

24 Aug 2021

This is a very odd question to ask. But it might have arisen due to misconceptions or bad experiences from the people around you.

FAST is a payment rail that stands for Fast And Secure Transfers, it was designed for facilitation of fund transfers between local banks. PayNow leverages on the FAST payment rail. The older payment rail you might be familiar with is GIRO. Both are highly reliable from a system standpoint and are governed locally by the association of banks ergo MAS.

Regardless of banks, the only issues are mainly user related whereby users send money to the wrong account numbers or phone numbers by mistake.

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JK

24 Aug 2021

I’ve done a lot of PayNow & FAST transactions, they are and have been reliable. 🙃

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Foodie Jo

24 Aug 2021

Performed many transactions using DBS PayNow and FAST and it has never failed. I also activated DBS ...

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DBS/POSB Multiplier Account

4.3

332 Reviews

Up to 4.10% p.a.

INTEREST RATES

$0

MIN. INITIAL DEPOSIT

$0

MIN. AVG DAILY BALANCE

Related Posts

I have an existing Ready builder 20 endowment plan I bought from DBS 2 years ago. Recently I opened the DBS multiplier account. Does that still consider as 1 category transaction?

Are commissions, CDP charges and GST counted as transactions in DBS Multiplier when I buy shares using DBS Vickers? How about IPO or rights subscription via ATM?

Hi, I have recently opened the DBS Multiplier account. I would like to increase the interest rate by making transactions in the investment category. What are some possible unit trusts to consider if I already have the POSB Investsaver? ?

Should I save with DBS multiplier or where else should I put my money? The condition of maintaining $3000 per month, is that the net balance or total sum of transactions (in/out)?

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