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Dear Valued Customers,
In order to provide better corporate online banking service, please note that the funds transfer transaction limits for business internet banking will be changed with effect from 23rd Nov 2015.
The Corporate Online Banking functions will be divided into four service segments: “Transfer between associated accounts”, “Transfer within bank”, International Remittance” and “Domestic transfer”. The changes for Single transfer limit and daily transfer limit are illustrated in the examples below:
1. For clients who have not set an account limit previously:
| Current function |
Updated function |
Current limits |
23/11/2015 Updated limit structure |
| Single transfer |
Daily transfer |
Single transfer |
Daily transfer |
| Transfer & Remittance |
Transfer between associated accounts |
Default limit: SGD300,000,000 |
Default limit: SGD300,000,000 |
Default limit: SGD300,000,000 |
Default limit: SGD300,000,000 |
| Transfer within bank |
Default limit: SGD300,000,000 |
Default limit: SGD300,000,000 |
| Domestic transfer |
Default limit: SGD300,000,000 |
Default limit: SGD300,000,000 |
| International Remittance |
Default limit: SGD300,000,000 |
Default limit: SGD300,000,000 |
| Total limits |
SGD300,000,000 |
SGD300,000,000 |
SGD300,000,000 |
SGD1,200,000,000 |
2. For clients who have set an existing limit:
| Current function |
Updated function |
Current limits |
23/11/2015 Updated limit structure |
| Single transfer |
Daily transfer |
Single transfer |
Daily transfer |
| Transfer & Remittance |
Transfer between associated accounts |
Example: 1,000,000 |
Example:
1,000,000 |
1,000,000 |
250,000 |
| Transfer within bank |
1,000,000 |
250,000 |
| Domestic transfer |
1,000,000 |
250,000 |
| International Remittance |
1,000,000 |
250,000 |
| Total limits |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
If the adjusted default transaction limits do not meet your business needs, please contact any BOC branches or your relationship manager and complete the new Corporate Online Banking Application Form to set your new funds transfer transaction limits. Once the Application Form is completed and approved by the Bank, the new transaction limits take effect from 23rd November 2015.
Should you have any queries, please contact our 24 hour Customer Service Hotline at 1800 66 95566 (local) or +65-6779 5566 (overseas).
We apologise for any inconvenience caused.
Bank of China Limited, Singapore Branch
9 November 2015
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