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 Xfers Bank Account and click next

    add-non-australian-bank-account
  5. Read the instructions carefully and click send code to your mobile and enter the code from your SMSSignup-to-xfersverify-your-phone-number
  6. If you already have a bank account(s) registered with Xfers they will be displayed here. If you want to continue using the listed account(s) select Cancel and proceed to Deposit funds. If not, please proceed to step 7.
    add-a-bank-account
  7. Under Add Account select your Bank from the dropdown list and enter your account number
  8. Enter your password to your Independent Reserve account (not your bank account password) and click Save

Add-bank

Please ensure that the bank account number you enter is correct, if it is not then your account will not be verified and withdrawals may be impacted.

Now that you have linked your bank account with your Independent Reserve account, you can deposit SGD.

Account-balance

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. Deposit Funds into SGD Account screen will appear displaying the 3 steps required to deposit funds from your bank account into your Independent Reserve SGD Account
    deposit-funds-into-SGD-account
  5. Log in to your bank account via your banking app or website to the FAST transfer page
  6. Follow the 3 steps displayed on screen under step 4 above and remember to make sure your comment to payee in step 3 matches what you enter in the bank transfer screen.
  7. Countercheck that the payee name and account number under step 2, and comment to payee under step 3 match the details you have entered in your banking app/website. You may use the copy function on the right side of payee nameaccount number and comment to payee to paste into your banking app/website
  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, your funds should appear in a few minutes.

Are there any deposit or withdrawal fees?

There is a fee of 0.55% for depositing via Xfers. View our fees page for more information.

My account has not been verified or the funds are not showing in my Independent Reserve account, who do I contact?

If you are having issues with your bank account being verified or if the funds you have transferred from your bank have not been reflected into to your Independent Reserve account. Please contact the Xfers support team: https://www.xfers.com/sg/support

When do I transfer to the Xfers bank account to fund my Independent Reserve account?

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

If you have sent funds to Xfers prior to creating an Independent Reserve account or if you have sent funds to an Xfers account number that does not match the account number assigned to you, please contact the Xfers support team: https://www.xfers.com/sg/support