Deposit SGD via FAST

We are pleased to announce that you can now deposit and withdraw Singapore dollars (SGD) using FAST transfer.

Add your bank account

To start depositing and withdrawing funds to your Independent Reserve account:

1. Log in to your Independent Reserve account.
2. Click on Accounts.
3. Under the heading of Bank Accounts click on add.
4. Select SGD Bank Account (FAST/MEPS Transfers) and click next.

   

5. Select your Bank name from the drop-down menu and enter your account details.

   
   
   Note: Beneficiary address is your residential address as it is on your bank’s records.

6. Click on save once the details are filled.

Deposit SGD to your account

To start depositing and withdrawing funds to your Independent Reserve account:

1. Log in to your Independent Reserve account.
2. Click on Accounts.
3. Under the heading of Account Balance find the SGD row and click on deposit.
4. A Deposit Funds into SGD Account screen will appear displaying the bank details of where you need to make the deposit.

   

5. Log in to your bank account via your banking app or website to the FAST transfer page.  If you use DBS, choose the “To Other DBS or POSB Account” option.
6. Enter the details as shown on your “Deposit Funds into SGD Account” popup window.
7. Countercheck that the payee name and account number are correct. 
8. Save this FAST transfer under a name that you will know is linked to Independent Reserve for easier & quicker transfers going forward.

Frequently asked questions

How long does it take for funds to appear in my account?

If the details you have entered are correct and your transfer is made using FAST, your funds should appear in a few minutes.

Are there any deposit or withdrawal fees?

There is a fee of SG$ 2.50 for deposits under SG$ 1,000. The withdrawal fee is fixed at SG$ 1.50. View our fees page for more information.

Funds are not showing in my Independent Reserve account, who do I contact?

If the funds you have transferred from your bank have not been reflected in your Independent Reserve account please contact our support team.

When do I transfer funds to my Independent Reserve account?

Please only transfer funds to the designated Independent Reserve bank account once you have set up your Independent Reserve account and only use the account number assigned to you.