Frequently Asked Questions

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Funds Transfer

Electronic Interbank Fund Transfer

1. How do I make an Electronic Interbank Fund Transfer (via Direct Debit Authorization-"DDA")?
2. How do I set up a DDA?

Question1: How do I make an Electronic Interbank Fund Transfer (via Direct Debit Authorization-"DDA")?
Answer:
DDA is a one-time debit instruction to authorise and effect any type of interbank fund transfer between two specified bank accounts. In this case, you are authorizing your other bank (for example, DBS Bank) to allow funds to be transferred between your specified DBS account and your specified finatiQ Investment Account. This is a standard practice for all banks participating in interbank fund transfer.

Question2: How do I set up a DDA?
Answer:
Complete a DDA form and send it back to finatiQ.

Approval may take up to one month depending on the other bank
No restriction on number of banks accounts for DDA set-up
No service charge to set up DDA

An email confirmation will be sent upon successful application.

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