Skip to main content
...Duitnow TransferIntroductionOverview

DuitNow Transfer

DuitNow Transfer

DuitNow Transfer is an instant credit transfer service designed for seamless integration into your digital banking channels. It supports both retail and corporate transactions, making it adaptable for various financial services. Easily integrated into Internet and Mobile Banking platforms, DuitNow Transfer provides your customers with a secure and efficient way to transfer funds instantly.

The service operates in two main steps:

Account Verification: When a payment is initiated, an account inquiry is sent to the Receiving Participant to display the recipient's name. This lets the payer confirm the recipient before proceeding with the transaction.

Credit Transfer: Once the recipient's name is verified, the Originating Participant debits the payer's account and sends the credit transfer request to the Receiving Participant for processing.

Credit Transfer

A Credit Transfer allows you to send money from one bank account to another. This can be done through Internet Banking, Mobile Banking, or at a branch.

Overview

Credit Transfer Reversal

The Reversal Service automatically retries transactions with unknown statuses and provides immediate reversals if successful. For rejected Credit Transfers, reversals are processed right away. If retries fail after the maximum attempts, the issue must be resolved by the involved banks.

Overview

DuitNow Transfer is for​

Issuer Bank

Originating Financial Institution [OFI]

Acquirer Bank

Receiving Financial Institution [RFI]

DuitNow Transfer Types​

Pay by Proxy

Pay by Proxy allows customers to make payments using a registered Proxy ID, such as a mobile number, NRIC, passport number, army number, or business registration number.

Pay by Account

The Account Resolution Enquiry API verifies the validity of a beneficiary account before processing a payment request, ensuring the account is ready to receive funds.



National Addressing Database

National Addressing Database

Manages the sign-on, sign-off, and echo processes with the DuitNow system, ensuring smooth operation and reliable service delivery.

Network Administration

Network Administration

Handles the sign-on, sign-off, and echo processes with the DuitNow system, ensuring smooth operation and reliable service delivery.