Sunday, June 26, 2005
What is Institution Code and Branch Code
For paypal transfer through your Singapore bank account, both codes are needed.
The institution code (4 digits) + branch code ( 3 digits ) + account number is available on the cheque itself (magnetic code number at the bottom of the cheque). For saving account just ask your bank for the institution code (MAS code if they don't understand what you are saying) + branch code
You will need the Institution code, branch code & complete bank name ! - The institution code for DBS is 7171 - Branch code is 081(code same for all POSB Saving Account). It is actually the type of banking account you have with them.
If you have a different account , call your bank and ask. DBS Bank generally takes about 6 working days for the transfer to complete. Surchage of SGD $1.00 if amount transfer is below SGD$199.99. Free for above SGD$200.00
