From mid this year, you can expect interbank money transfers to take mere minutes, rather than the current few days.
The new Fast and Secure Transfers (FAST) electronic funds transfer service facilitates the immediate moving of up to S$10,000 between banks in a single transaction, and will be available after office hours, and on weekends and public holidays.
FAST will be a welcome change to the current GIRO system in use, which takes up to three working days for fund transfers from one bank to another.