What is a linked bank account in Singapore and how does it work?

03 Nov 2023
1 min read
Written by Saurab Gupta

Linked bank account is a payment method available via the Instarem app in Singapore. It operates through the eGIRO payment system, which authorises Instarem to debit funds from your linked bank account.

Linking your bank account to your Instarem account is a one-time process. When you choose ‘linked bank account’ as the payment method, you authorise us to debit the funds directly from your linked account to fund your transfer. You won’t need to leave the Instarem app and log into your bank’s portal to make a payment. It is faster and more convenient than other payment methods.

About Instarem

Instarem stands at the forefront of international money transfer services, facilitating fast and secure transactions for both individuals and businesses. Our platform offers competitive exchange rates for popular currency pairs like USD to INR, SGD to INR, and AUD to INR. If you're looking to send money to India or transfer funds to any of 60+ global destinations, Instarem makes it easy for you. We are dedicated to simplifying cross-border payments, providing cutting-edge technology that support individuals and businesses alike in overcoming traditional fiscal barriers normally associated with banks. As a trusted and regulated brand under the umbrella of the Fintech Unicorn Nium Pte. Ltd., and its international subsidiaries, Instarem is your go-to for reliable global financial exchanges. Learn more about Instarem.