Mobile wallets such as Singtel Dash have made it very easy for users in Singapore to get paid. Once paid, you'll want to transfer money from Singtel Dash to bank account to better manage your funds.
To transfer money from Singtel Dash to your bank account, you'll need to make sure that your account has been verified. Once your account verified, the transfer of funds to your bank account will be even easier.
One of Singapore's most well-liked e-wallets is Singtel Dash. This electronic wallet will make it much simpler to transfer money. Singtel Dash has additionally just joined the nine banks that developed PayNow as a quick way to send payments among the nine banks.
If you have unused funds in your Singtel Dash, you might be wondering how to transfer money from Singtel Dash to bank account.
Well to assist you, this article focuses on showing all steps to use when transferring money from Singtel Dash to bank account.
Table of Contents
What is Singtel Dash?
With Singtel Dash, you can pay, send money, save, invest, and buy insurance from a single app. Make secure and simple payments with Dash whether you're shopping locally or online, or traveling abroad.
With Dash, you can quickly and conveniently send money to family members in Bangladesh, China, India, Indonesia, Malaysia, Myanmar, and the Philippines.
What are the Benefits of Using Singtel Dash?
- On both online and in-store purchases, you'll get discounts and Dash points.
- With just your phone, you can tap and pay for buses and trains.
- Send money quickly and easily to Bangladesh, China, India, Indonesia, Malaysia, Myanmar, and the Philippines.
- Let you easily make payments overseas. in a quicker and secure way.
How to Use Singtel Dash for Payments at Sites Such as Shopee, Mrt etc?
You can pay at merchants with Sintel Dash using "Dash Tap and Pay" by just tapping your phone against the Dash scanner.
To pay with Tap and Pay, follow these steps:
- From your phone's settings, enable NFC.
- Start using the Singtel DASH app.
- Notify the clerk about the Dash Payment.
- Lastly, Tap and you are all good.
How to Transfer/Top up money to Singtel
Instead of dealing with the hassle of credit cards and bank transfers, you can top up your Dash wallet with cash. Dash highly recommends SOCASH as a partner for account topping.
- Open the Singtel Dash app.
- Select Top Up.
- Select "Cash-in QR"
- At the SOCASH outlet, enter the amount and scan the QR code. Present the generated QR code to the cashier.
- After making payment, top up is complete. Check your Dash wallet for your new wallet balance.
Can I Withdraw Money From Singtel Dash?
Yes, you ca, withdraw or transfer money from Singtel Dash to your bank account.
After you verify your account, you can withdraw money from Singtel Dash to your bank account using FAST or PayNow. If you select this option, though, you won't be able to add money to your Dash wallet using a credit or debit card anymore.
You can now transfer money from Singtel Dash to a bank account! Previously, you couldn't do that.
How to Transfer Money from Singtel Dash to Bank Account
Transferring money from Singtel Dash to bank account is easy and straightforward process and can be done using Fast or PayNow.
However, you'll need to make sure that your account is verified before being able to transfer the funds.
That said, here are the steps involved in transferring money from Singtel Dash to bank account.
- Verify your account.
- Accept the terms and conditions.
- Select "Send Money" on your dashboard.
- Select PayNow or Bank / Wallet Accounts depending on how you want to transfer the funds.
- Enter the amount you want to transfer.
- Receive your funds.
Step 1: Verify your Account
You will first need to verify your account before you can start transferring funds with Singtel Dash.
When you open the Singtel Dash app, a pop-up window asking you to confirm your account should appear.
You can select this option on the top-up page if you don't see this pop-up.
There are two ways to verify your account:
- Manual registration
Step 2: Accept the Terms and Conditions
You will be prompted to enable PayNow VPA / FAST for your Dash wallet the next time you open the Singtel Dash app.
Before you can begin utilizing this feature, you must first accept the following terms:
- You are not able to use a credit or debit card to top up your Dash wallet
- Once you accept this, you are unable to reverse your registration
In the past, you could add money to your Dash wallet using a credit or debit card. You might be qualified for rewards when you use some of these cards, such as:
- Reward points
However, these benefits are no longer available to you once the PayNow VPA + FAST feature is activated. You should give this some serious thought since your choice cannot be changed!
You cannot withdraw cash from your Dash wallet if you decide to keep topping it off with a credit or debit card.
Upon completing the registration, a PayNow Virtual Payment Address (VPA) will be provided. There are two purposes for using this address:
- Topping up your Dash wallet
- Receiving money from your friends
Your mobile number with the hash symbol "#DASH" behind it serves as your VPA.
Step 3: Select Send Money
Go to the "Send Money" tab on your dashboard after setting up the PayNow VPA + FAST feature.
Step 4: Select PayNow or Bank / Wallet Accounts
There are two methods for transferring funds to a bank account:
- Bank / Wallet account
These 4 ways can be used with the PayNow to transfer funds to a bank account:
- Phone Number
- Unique Entity Number (UEN)
- Virtual Payment Account (VPA)
This is similar to a regular PayNow transfer that can be made using Google Pay and GrabPay.
You must be aware of the minimum amount if you're transferring to another mobile wallet! For instance, the minimum transfer amount to a Grab wallet is $10.
FAST can also be used to transfer money to a bank account.
You'll need to provide the following 3 information:
- Recipient name
- Recipient's bank / wallet name
- Account number
You can transfer money to 27 different banks, mostly to the banks that support FAST transfers.
Step 5: Enter the Amount you want to Transfer
Now, you'll have to enter how much you will want to transfer to your bank account.
You can send out $1 as the lowest amount.
Additionally, you have the option of sending cents. You can therefore use your Dash wallet to withdraw the full amount!
Step 6: Receive your Funds
Once the transfer initiated, you should receive your funds on your bank account within some few minutes.
Should I Enable PayNow / FAST on Singtel Dash?
You can easily transfer money between your bank account and Dash wallet using this feature.
The only drawback is that you can no longer top off your wallet using credit or debit cards.
But if you use the Dash wallet, you can still collect Dash reward points!
In the end, you'll have to weigh the advantages and disadvantages to determine which is best for you.
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What are the Best Alternatives (Other Mobile Wallets) to Singtel Dash?
You might want to keep using your Dash wallet's credit/debit card top-up option. Other Dash alternatives that allow you to keep your assets in your wallets without restriction are as follows:
1. Google Pay
You can use your credit or debit card to make a direct payment to a retailer using Google Pay. Google makes it possible to transfer money without having to save a wallet.
For any P2P or PayNow transfers you want to make, you have three payment choices:
- Standard Chartered
- DBS PayLah!
You won't need to initially add money to the wallet because Google Pay will make a debit directly from your bank account.
Similar to Google Pay, when you make a purchase with Fave, you can immediately use your debit or credit card. You can link your GrabPay wallet using Fave as well!
You might be qualified for very high partner cashbacks. Only if you go back to the same store later can you use it.
Fave's great feature is that you can use your credit or debit card to make purchases even if the retailer does not accept PayWave. You can get rewards when you use your credit or debit card!
In addition, the cashback you get is in addition to any other rewards your debit or credit cards may be able to offer you!
This means you can collect the partner cashback as well as the 1.5% from the cards if you use the Standard Chartered Unlimited or Amex True Cashback cards.
One of your bank accounts will be connected to your PayLah! account. You can therefore at any time deposit any amount in your PayLah! wallet into your bank account.
Even if you don't have a DBS or POSB account, you can transfer your wallet balance to a Singapore bank account listed under MyInfo.
One of Singapore's most well-liked mobile wallets is DBS PayLah! Because some businesses only accept PayLah! as a method of electronic payment, it is the most flexible wallet.
You won't be qualified for rewards like cashback or points because you aren't using a debit or credit card to make your purchase.
BigPay is a mobile wallet by AirAsia. You can take money out of BigPay and deposit it into your bank account. However, each transaction you make on the platform will cost you a flat $1 fee.
Final Thoughts: How to Transfer Money from Singtel Dash to Bank Account
If you enjoy using mobile wallets, you've probably heard of Singtel Dash. Similar to well-known mobile wallets (Google Pay, Apple Pay, PayPal), Singtel Dash offers Singaporeans a practical way to receive payments. You will want to transfer these funds to your bank account as soon as you are paid.
Recently, Singtel Dash joined PayNow and FAST. The transfer of money from Singtel Dash to a bank account is just one example of how this link has facilitated many previously impossibly transactions.
The unfortunate part of this transaction is that once it is finished, you can no longer add money to your Dash wallet using a credit or debit card. Therefore, you must be extremely wise and certain before making this transaction.