In just 5 steps!
Tired of juggling multiple bank accounts? Simplify your finances by switching your PayNow account from OCBC to DBS. Here’s a step-by-step guide to make the transition seamless:
Step 1: Unlink PayNow from OCBC
Before connecting your DBS account, you’ll need to unlink PayNow from OCBC. Follow these instructions:
- Log in to your OCBC Internet Banking account.
- Navigate to the “Settings” or “Profile” section.
- Find the “PayNow” tab and click “Manage PayNow Recipients.”
- Select the DBS account you want to unlink and click “Remove.”
Step 2: Register for PayNow with DBS
Now, let’s create a PayNow account with DBS:
- Log in to your DBS Internet Banking account.
- Go to the “Settings” or “Preferences” section.
- Find the “PayNow and FAST” tab and click “Register for PayNow.”
- Follow the prompts to provide your personal information and mobile number.
Step 3: Set Up the New PayNow Account
Once you’ve registered, you’ll need to set up your new PayNow account:
- Choose your unique PayNow ID (e.g., your NRIC, mobile number, or email address).
- Select your DBS bank account to link with the PayNow account.
- Review and confirm the details.
Step 4: Link the PayNow Accounts
To connect your OCBC PayNow contacts to your new DBS account:
- Log in to your DBS Internet Banking account.
- Go to the “PayNow and FAST” section and click “Manage PayNow Recipients.”
- Click “Add PayNow Recipient” and select “From Mobile Number.”
- Enter the mobile number associated with your OCBC PayNow account.
- Verify your identity by receiving an OTP on your OCBC mobile number.
Step 5: Confirm the Transfer
Once the PayNow accounts are linked, you’ll need to confirm the transfer:
- Log in to your OCBC Internet Banking account.
- Navigate to the “Transfer” or “Payments” section.
- Select “PayNow” and enter the PayNow ID of your DBS account.
- Enter the amount you want to transfer.
- Review and confirm the details.
- The funds will be transferred instantly.
Congratulations! You’ve successfully changed your PayNow account from OCBC to DBS. Enjoy the convenience of seamless fund transfers with your preferred bank.
Benefits of Changing Your PayNow Account
- Avoid Bank Fees: DBS offers free PayNow transactions, while OCBC charges a fee for non-DBS PayNow transfers.
- Simplified Transactions: Manage all your PayNow transfers from one account, eliminating the need to switch between banks.
- Convenience: PayNow is widely accepted, so you can make payments to businesses, individuals, and government agencies with ease.
Frequently Asked Questions
- What if I don’t have a mobile number linked to my OCBC PayNow account? You can request a mobile number verification code from OCBC via SMS or email.
- How long does the account transfer process take? The entire process typically takes a few minutes.
- Can I link multiple DBS accounts to my PayNow account? Yes, you can link up to 5 DBS bank accounts to your PayNow account.
- What happens if I change my mobile number? Update your mobile number in both your OCBC and DBS Internet Banking accounts to ensure seamless PayNow transactions.
Additional Tips
- Keep your PayNow ID and password confidential.
- Use two-factor authentication to enhance account security.
- Monitor your PayNow transactions regularly to identify any unauthorized activity.
Conclusion
Switching your PayNow account from OCBC to DBS is a simple and convenient process that offers numerous benefits. Follow these steps and enjoy the ease of managing your finances from a single bank account. Embrace the convenience of PayNow and simplify your financial transactions today!
