Online banking vocabulary is the practical language of account balances, PayNow, FAST, GIRO, transaction limits, login security and scam prevention. The most important terms are available balance, beneficiary, transfer confirmation, PayNow, FAST, OTP, digital token, cooling period, Money Lock and kill switch. Understanding them helps people make fewer mistakes when moving money.
The biggest difference is between money shown in an account and money available to transfer. A pending card authorisation or account restriction can make those amounts differ. Another vital distinction is transfer confirmation versus reversibility: a payment marked completed can be difficult or impossible to reverse. Singapore’s Association of Banks says PayNow uses participating bank and payment-institution infrastructure to make near-instant Singapore-dollar transfers, so checking the displayed recipient name before approval matters.
Quick answer: Open only your bank’s official app or website. Before transferring, check the recipient’s name, account or PayNow identifier, amount and currency. Understand the bank’s limits and any fraud-control delays. Never share a password, OTP, token approval or verification code with an unexpected caller. If you suspect fraud, contact your bank immediately through its verified emergency channel; in Singapore, ScamShield’s 1799 line can help check whether an approach is a scam.
- Reading accounts: separate current balance, available balance and pending entries.
- Sending money: distinguish PayNow, FAST, GIRO and international transfers.
- Confirming recipients: verify the actual payee before approving payment.
- Protecting access: understand digital tokens, 2FA and suspicious prompts.
- Spotting scams: know phishing, impersonation, remote access and money mules.
- Responding to loss: act promptly through official bank and police channels.
This article is general financial-language education, not personalised financial advice or a live banking instruction. Read current conditions from your own bank and country-specific authorities. For broader vocabulary, visit eduKateSG Vocabulary Articles & Knowledge.
How to read an online banking transfer screen
Imagine sending money to a tradesperson. The app asks for a payment method, beneficiary and amount. A saved contact name is not enough to verify a receiving account. Confirm the displayed recipient name and independently verified payment details before authorising. If the job involves a sizeable transfer, check whether the bank has safeguards, transaction limits or verification steps that apply.
Singapore’s PayNow service lets eligible users pay registered identifiers such as mobile numbers and UENs rather than manually entering every bank account detail. FAST is the underlying near-instant interbank transfer service in many relevant contexts. GIRO generally concerns authorised payment arrangements often used for bills. These are related but different terms with different workflows.
A completed transfer is not the same as a recoverable payment. Do not send a small “test fee” to an unverified stranger merely because they promise to return it. Scammers may exploit real-time transfer systems, urgency and even genuine personal information. It is safer to pause and verify than to rely on pressure or an attractive screenshot.
Bank accounts, balances and statements
The 29 entries in this section show how the vocabulary appears in actual banking decisions. Definitions are followed by an example; exact features and legal treatment vary by institution and country.
Online banking
Using a bank’s authorised digital services to access account information and perform eligible transactions. In context: Log in through the bank’s official application.
Mobile banking
Banking functions accessed through a smartphone app under the bank’s settings. In context: Mobile banking can show transfers and balances.
Account holder
The person or entity legally associated with a particular bank account. In context: Confirm the account holder before transferring funds.
Account number
A bank-assigned identifier used to direct certain payments or identify an account. In context: Do not confuse an account number with a card number.
Bank code
An identifier for a bank used in selected transfer or clearing arrangements. In context: Some international instructions request a bank code.
Branch code
A code identifying a branch or processing unit under certain banking systems. In context: Verify the branch code against official instructions.
Savings account
An account commonly used to hold funds, sometimes earning interest under specific terms. In context: Check the savings account’s conditions before relying on interest.
Current account
A transactional bank account designed for payments and day-to-day activity, with terms varying by country. In context: A current account may have fees or minimum balance requirements.
Joint account
A bank account associated with more than one authorised holder under agreed mandates. In context: Read joint-account signing rules before making changes.
Available balance
The amount currently accessible for eligible withdrawals or transfers under the bank’s rules. In context: Available balance can differ from an account’s displayed total.
Current balance
An account’s reported total under the bank’s accounting conventions, which may include amounts not yet available. In context: Current balance does not always equal spendable money.
Pending transaction
An initiated activity not yet fully posted or settled under the banking system. In context: A pending card charge may change after final posting.
Posted transaction
A completed entry added to the account’s formal transaction record. In context: The posted transaction appears on the monthly statement.
Deposit
Money paid into or held in an eligible bank account. In context: A salary deposit increases the account balance after crediting.
Withdrawal
Money taken out of an account through an allowed method. In context: A cash withdrawal reduces the available balance.
Debit
An entry that reduces an account balance under the relevant statement convention. In context: A debit may represent a bill payment.
Credit
An entry increasing an account balance under the relevant convention. In context: A received transfer appears as a credit.
Transaction history
A list of account activities over a selected period. In context: Review transaction history for unfamiliar payments.
Bank statement
A record summarising transactions and balances over a given period. In context: Download the official bank statement for reconciliation.
Statement date
The date associated with a particular account statement or reporting period. In context: Check the statement date before using figures in a budget.
Transaction date
The time or date a payment or withdrawal was initiated or recorded under the bank’s system. In context: The transaction date can differ from posting date.
Value date
A date used for interest or settlement calculations under relevant account terms. In context: The value date may differ from the visible timestamp.
Reference number
An identifier used to trace a payment or bank transaction. In context: Keep the reference number when contacting support.
Transaction description
Text identifying an account entry, which may be abbreviated. In context: A vague description is not enough to prove a transaction’s purpose.
Account reconciliation
Matching transaction records against independent receipts and expected amounts. In context: Reconcile the account monthly to catch errors.
Interest rate
A stated rate used to calculate interest under an account or borrowing product’s rules. In context: Check whether the interest rate is annual and conditional.
Minimum balance
An account threshold that may affect fees or benefits. In context: Read minimum balance rules before withdrawing funds.
Overdraft
A facility or position allowing spending beyond the account’s funds under agreed terms. In context: An overdraft can carry fees or interest.
Dormant account
An account classified as inactive after a period under bank policies. In context: Ask the bank what makes an account dormant.
Payments, transfers and settlement
The 35 entries in this section show how the vocabulary appears in actual banking decisions. Definitions are followed by an example; exact features and legal treatment vary by institution and country.
Funds transfer
Moving money from one account or institution to another through a payment process. In context: Verify the beneficiary before a funds transfer.
Internal transfer
A movement of funds between accounts within a bank under its product rules. In context: Move money from savings to current using an internal transfer.
Interbank transfer
A payment between accounts at different banks or participating institutions. In context: Check whether the interbank transfer is instant.
PayNow
Singapore’s service enabling participating customers to transfer SGD using registered identifiers such as a mobile number or UEN, via FAST. In context: Check the displayed recipient name before confirming PayNow.
FAST
Singapore’s Fast And Secure Transfers system for near-instant eligible SGD interbank transfers at participating institutions. In context: A FAST transfer can arrive quickly.
GIRO
A Singapore payment arrangement often used for authorised recurring or scheduled billing debits under its rules. In context: Utilities may be collected through GIRO.
eGIRO
An electronic method for setting up certain GIRO arrangements under participating institutions and organisations. In context: Verify the eGIRO mandate before approval.
Standing instruction
A direction for the bank to perform recurring or future transfers according to agreed conditions. In context: Set a standing instruction for regular savings.
Scheduled transfer
A payment initiated now but arranged to execute at a future date under the bank’s rules. In context: Check the execution date of a scheduled transfer.
Recurring payment
A payment made repeatedly according to an agreement or instruction. In context: Review recurring payments after cancelling a service.
Bill payment
A transfer or banking function for paying a recognised biller. In context: Pay a bill using the verified biller listing.
Biller
An organisation designated to receive payments for goods or services. In context: Choose the correct biller instead of a similar-looking name.
Beneficiary
The intended recipient of a money transfer. In context: Confirm the beneficiary’s name and account details.
Payee
A person or entity receiving a payment. In context: A payee may be stored in a saved list.
Recipient verification
Checking the intended receiving party before authorising a transfer. In context: Recipient verification is essential for instant payments.
Unique Entity Number
A Singapore identifier used by registered entities, often abbreviated UEN. In context: Some business PayNow registrations use a UEN.
Virtual Payment Address
A registered payment identifier supported in certain PayNow arrangements, often abbreviated VPA. In context: Use the approved VPA where the receiving institution supports it.
SGQR
A Singapore QR label standard designed to combine participating payment schemes. In context: Look for the actual payment scheme shown in the SGQR code.
QR code payment
A payment initiated by scanning an encoded code with a supported banking or payment app. In context: Check merchant details and amount before approving QR payment.
Transfer limit
The maximum amount permitted for a transaction or period under bank settings. In context: Lower the transfer limit when appropriate to reduce exposure.
Daily limit
A cap on activity within a bank-defined day or rolling period. In context: A daily limit is different from the balance.
Transaction fee
An amount charged for a particular payment or banking action. In context: Check transaction fees before choosing an overseas transfer.
Transfer status
The bank’s label for a transfer’s current stage, such as pending, held, completed or rejected. In context: A completed status is not the same as a recipient agreeing to refund.
Processing
Work done to validate or move a transfer before final completion. In context: Processing may take longer outside supported instant rails.
Settlement
The process of completing the transfer of value between participating financial institutions. In context: Settlement arrangements differ by payment method.
Clearing
Exchange or reconciliation of payment instructions before or alongside settlement under the relevant system. In context: Clearing and settlement are distinct steps.
Exchange rate
The rate used to convert one currency into another. In context: Compare the exchange rate and total charges for an international transfer.
Foreign exchange spread
The difference between a reference exchange rate and the rate offered for a transaction. In context: A small spread matters on large transfers.
International remittance
A transfer of money across national borders using an eligible provider or banking service. In context: An international remittance may require recipient-bank details.
SWIFT or BIC
A bank or financial institution identifier used in certain international payment messages. In context: Verify the SWIFT/BIC using the receiving bank’s official instructions.
IBAN
An international bank account number format used in many, but not all, jurisdictions. In context: Singapore domestic transfers usually use other identifiers rather than a universal IBAN.
Transfer confirmation
A record indicating the bank accepted or completed a transfer instruction under its rules. In context: Save the confirmation reference for a legitimate payment.
Reversal
An action or process attempting to undo a payment when supported and authorised. In context: Do not assume an instant transfer can be reversed.
Refund
Funds returned by a merchant or recipient after a transaction under applicable terms. In context: A refund requires a real process rather than an urgent stranger’s promise.
Disputed transaction
An entry challenged by the account holder for a stated reason. In context: Report the disputed transaction to the bank promptly.
Authentication, device controls and fraud warnings
The 35 entries in this section show how the vocabulary appears in actual banking decisions. Definitions are followed by an example; exact features and legal treatment vary by institution and country.
Username
An identifier used to sign in to an online banking service. In context: Use a username only on the official bank login page.
Password
A secret credential for authentication, which should not be shared. In context: A bank employee should not ask for your full password over the phone.
Passcode
A secret code used for selected access or transaction functions. In context: Keep the app passcode private.
PIN
A personal identification number for eligible banking activities. In context: Do not tell a caller your PIN.
One-time password
A short-lived code used as part of authentication, abbreviated OTP. In context: Never share an OTP in an unsolicited call.
Two-factor authentication
A process using two distinct authentication factors. In context: Turn on available security controls under the bank’s guidance.
Biometric authentication
Sign-in or confirmation using features such as fingerprints or face recognition on supported devices. In context: Biometrics help secure a device when correctly configured.
Digital token
A software-based mechanism used by some banks for secure sign-in or transaction approval. In context: Verify the details in a digital-token approval prompt.
Push notification
A message sent by an application, which can include security approval requests. In context: Decline an unexpected transfer approval push.
Transaction signing
Approving a transaction through a protected method that may bind the authorisation to specific details. In context: Read the amount and recipient before transaction signing.
Authentication request
A prompt asking the authorised user to prove identity or approve an action. In context: An unexpected authentication request can signal account abuse.
Device binding
Associating a specific device with a banking account under a bank’s security system. In context: Follow official instructions when replacing a bound device.
Trusted device
A device enrolled or recognised for certain secure account activities. In context: Remove a lost device from trusted-device lists.
Secure login
An access process using authorised application or website controls and suitable authentication. In context: Navigate to secure login independently.
Official app
Software distributed through an institution’s recognised channels and trusted stores. In context: Install the official app, not an APK sent in chat.
Phishing
A deceptive message or site seeking credentials, money or other sensitive information. In context: A fake parcel message may direct you to a bank login phishing site.
Smishing
Phishing carried by SMS or text-message channels. In context: A smishing message can imitate a bank alert.
Vishing
Phishing or manipulation conducted over a voice call. In context: A vishing caller may pretend to be a regulator.
Impersonation
Pretending to be a trusted person or institution to obtain cooperation. In context: A copied bank logo is not proof of identity.
Spoofed caller ID
A manipulated displayed telephone identity that appears to come from another number. In context: Do not trust a spoofed caller ID alone.
Malicious app
Software designed to steal, control or misuse devices or information. In context: Never install a malicious app from an unsolicited link.
Remote-access scam
Manipulating someone into granting device control to a fraudulent party. In context: Refuse unrequested remote-access software.
Social engineering
Manipulating a person into an unsafe action instead of defeating technology directly. In context: An urgent story can be social engineering.
Money mule
A person whose account is used to receive or move illicit funds, knowingly or otherwise. In context: Do not let strangers use your account to receive funds.
Suspicious transaction
A transaction that seems unfamiliar, unauthorised or inconsistent with the account holder’s activity. In context: Check suspicious transactions through official support.
Unauthorised transaction
An account activity performed without the required authority or consent. In context: Report unauthorised transactions immediately.
Fraud alert
A warning from a bank about suspicious activity, which must still be verified if received unexpectedly. In context: Open the bank app independently rather than clicking a link.
Cooling period
A delay applied to eligible banking or security actions under certain safeguards. In context: A cooling period can delay a transfer while fraud checks occur.
Money Lock
A protective feature offered by some Singapore banks to separate funds from normal digital outflows under each bank’s rules. In context: Check your bank’s Money Lock withdrawal conditions.
Kill switch
An emergency control that can suspend certain account access or transactions after suspected compromise. In context: Use the bank’s official kill switch if advised during a scam emergency.
Account freeze
A temporary restriction on account operations for security, legal or operational reasons. In context: A frozen account is not automatically closed.
Security notification
An alert about account changes, device activity or a transaction. In context: Investigate an unfamiliar security notification promptly.
Bank fraud hotline
An official contact route for urgent suspected fraud. In context: Call the bank fraud hotline from its verified website or app.
ScamShield
Singapore’s official anti-scam information and checking service, including a 1799 helpline. In context: Use ScamShield 1799 to check a suspicious situation.
Police report
A formal report to law enforcement, distinct from notifying a bank or scam-checking service. In context: A scam victim should follow official police-reporting guidance.
Banking statements, charges and consumer understanding
The 27 entries in this section show how the vocabulary appears in actual banking decisions. Definitions are followed by an example; exact features and legal treatment vary by institution and country.
Service fee
An amount charged for a banking product or function under stated conditions. In context: Check the service fee schedule before transferring.
Account maintenance fee
A charge for maintaining an account under some bank terms. In context: Some accounts impose a maintenance fee if conditions are not met.
Fall-below fee
A fee imposed by some products when balance falls under a defined threshold. In context: Review the fall-below fee before withdrawing savings.
Interest credit
Interest added to an account under applicable product conditions. In context: An interest credit may appear monthly.
Interest debit
Interest charged or deducted in relation to borrowing or an overdrawn position. In context: Check interest debits on an overdraft statement.
Annual percentage rate
A rate expression for interest or borrowing costs under a given jurisdiction’s methodology. In context: Read APR together with fees and calculation rules.
Annual percentage yield
A deposit-return measure reflecting compounding under relevant rules in some jurisdictions. In context: Do not compare APY and a nominal rate blindly.
Compounding
The process by which accumulated interest affects subsequent interest calculations. In context: Compounding frequency changes the effective return.
Exchange-rate markup
An added cost reflected in the offered currency conversion rate. In context: A markup may make a transfer cost more than its flat fee.
Foreign transaction fee
An additional charge on some cross-border or foreign-currency purchases. In context: Read the fee disclosure before overseas spending.
Merchant
The business receiving a legitimate payment. In context: Check the merchant name against the receipt.
Authorised payment
A transfer knowingly approved by the person with authority, subject to fraud and liability rules. In context: Even an authorised payment to a scammer can cause loss.
Authorisation hold
A temporary reservation of available funds associated with a transaction, commonly with cards. In context: A hotel hold may reduce available balance before the final charge.
Chargeback
A card-payment dispute process through an issuer under card-network and legal rules. In context: A chargeback is not the same as reversing a FAST transfer.
Transaction dispute
A formal challenge concerning a payment or account entry. In context: Gather the receipt and reference for a transaction dispute.
Complaint
A report seeking explanation or remedy from a service provider. In context: Escalate a complaint using the bank’s official process.
Statement reconciliation
Comparing bank records with receipts and expected payments. In context: Reconcile statements to identify duplicates.
Duplicate charge
A transaction appearing twice for one expected payment, which needs investigation. In context: Check whether both entries actually posted.
Pending versus posted
The distinction between a provisional activity and a final account entry. In context: A pending charge may fall away without a second refund.
Payment confirmation versus settlement
The distinction between bank acknowledgement and completion of interbank movement under the relevant system. In context: Read the status rather than assuming every message means final settlement.
Transfer recall
A bank-assisted effort to request return of transmitted funds, not a guaranteed reversal. In context: A recall attempt may fail, particularly after instant transfer.
Fraud recovery
Steps intended to limit loss and possibly recover stolen money, with no guarantee of success. In context: Act quickly but do not trust anyone promising guaranteed fraud recovery.
Liability
Responsibility for a loss or obligation under applicable facts, agreements and law. In context: Liability cannot be determined from a generic app label.
Transaction limit change
An alteration of an account’s permitted payment threshold under bank controls. In context: Review limits after large one-off payments.
Beneficiary list
Stored details of possible recipients in a bank’s interface. In context: Remove obsolete beneficiaries after reviewing them.
Periodic review
A regular check of account activity, access and recurring instructions. In context: Do a periodic review of statements and payment mandates.
Financial institution
A bank or other regulated organisation offering financial services under applicable rules. In context: Verify that the institution is authorised in the relevant jurisdiction.
Four financial situations explained without jargon
1. The account has money but a transfer is rejected
Look at available balance, not only the headline current balance. Pending card holds, transfer limits, security restrictions or a fraud-control cooling period may affect what can move. A bank can also reject an otherwise legitimate transaction for reasons that require review. Read the app’s exact status, and contact the bank through its verified support channel rather than following a stranger’s troubleshooting link.
2. The PayNow recipient looks wrong
Stop before confirming. PayNow is designed to make transfers convenient using registered identifiers, but entering the wrong mobile number or scanning a deceptive QR code can direct funds to an unintended recipient. The Association of Banks in Singapore specifically advises verifying the recipient name displayed before approving a transfer. Do not assume a copied QR image or familiar contact nickname proves ownership.
3. A caller says a regulator needs money for an investigation
This is a major impersonation warning sign. The Monetary Authority of Singapore states that its officials will not ask people to transfer money, disclose banking login details, install apps from unofficial stores or transfer their call to the Police during phone calls. Independently check suspicious messages through official channels; knowing a person’s name or identity number does not prove the caller is legitimate.
4. An unexpected transfer may already have gone through
Time matters. ScamShield advises contacting the bank immediately if money or banking details were compromised, then making a police report and securing accounts. The bank may be able to restrict further losses, but recovery is not guaranteed. Singapore’s ScamShield Helpline at 1799 is for scam-related checks and support; it does not itself submit a police report for you.
FAST, PayNow and GIRO — quick comparison
- FAST: a Singapore funds-transfer system for almost immediate eligible Singapore-dollar movement between participating institutions.
- PayNow: an easier way to address eligible payments using registered identifiers, with relevant transfers moving through FAST.
- GIRO: an authorised payment arrangement often used by billing organisations for regular deductions from a bank account.
- Standing instruction: a user-arranged recurring or future transfer under the bank’s instructions.
- QR payment: a way to supply payment details through scanning, which still requires recipient verification.
- International remittance: a cross-border transfer subject to different exchange rates, compliance steps, fees and timing.
The terms have different purposes. If you want to send a one-off instant payment, a PayNow or FAST option may be relevant where supported. If you want routine bill collection, GIRO may apply. For overseas money movement, international remittance arrangements introduce other identifiers and exchange-rate issues. Read the bank’s actual terms before selecting.
Why banks sometimes delay a legitimate transfer
Banks may impose transaction limits, checks, holds or cooling periods to reduce scam losses. Singapore’s banking industry has described enhanced safeguards for certain patterns of large or rapid digital outflows, with implementation differences between banks. This does not mean that every transfer is delayed or that a delay always indicates fraud.
If a transfer is held or rejected, consult the official banking channel for the reason and next steps. Do not pay a stranger to “release” a transfer, and do not disclose token codes to someone claiming they can override a cooling period.
Words that must never be confused
- Current balance versus available balance: the reported total may differ from spendable funds.
- Pending versus posted: a provisional entry differs from a final account transaction.
- PayNow versus FAST: an identifier-based payment service differs from the underlying transfer rail.
- GIRO versus a single manual transfer: an authorised recurring billing arrangement is not the same as sending one payment.
- OTP versus transaction reference: an authentication secret must be protected; a reference helps trace a legitimate payment.
- Recipient name versus saved nickname: a personal label is not independent proof of the receiving party.
- Bank alert versus bank identity: an SMS claiming to be from the bank may be spoofed.
- Confirmation versus reversal: bank acknowledgement does not establish the ability to cancel payment.
- Money Lock versus account freeze: a protective locked-funds feature differs from wider account restrictions.
- Chargeback versus bank transfer recall: card disputes and attempts to recover instant payments use different processes.
- ScamShield checking versus police reporting: the helpline helps assess scams but does not automatically create a police report.
A practical security routine before transferring money
1. Navigate independently. Open the official bank app or type the known website address yourself. Avoid links in unexpected texts, chats, emails or advertising results.
2. Confirm the beneficiary. Review the receiving name, number or bank details and verify any last-minute change through a previously known independent contact route.
3. Review the complete instruction. Check amount, currency, fees, exchange rate, transfer purpose and limit. A large transfer deserves proportionate care.
4. Treat authentication as a protected action. Read what your digital token is approving, and reject any prompt you did not initiate. Never read an OTP to someone because they say they are “from security.”
5. Keep a reference and check the statement. Save legitimate transfer confirmation, then reconcile the completed statement entries later. A screenshot sent by another person is not bank-side settlement proof.
6. Know emergency contacts before an incident. Use the bank’s published fraud hotline or official in-app emergency controls. ScamShield can help check doubtful situations, but it cannot promise recovery of transferred money.
Practice using the banking vocabulary
- The app shows $2,000 but only $1,700 can be transferred: check available balance and pending holds.
- You pay a friend using their registered phone number: PayNow, with name verification.
- An eligible Singapore interbank transfer arrives almost immediately: FAST.
- The electricity provider collects an authorised monthly debit: GIRO may be involved.
- A stranger wants the OTP sent to your phone: likely fraud risk; do not share it.
- An unfamiliar device asks to approve a transfer: suspicious authentication request.
- A supposed regulator asks you to move savings for “safe keeping”: impersonation scam warning.
- The bank delays a suspiciously large payment: possible fraud-control hold or cooling period.
- You do not recognise a posted debit: report the disputed or unauthorised transaction promptly.
- You suspect losing money to a scam: contact your bank immediately and follow official reporting guidance.
Frequently asked questions
What is the difference between current and available balance?
Current balance is an account total under the bank’s reporting rules; available balance is the amount accessible for certain transactions after applicable holds or restrictions.
Is PayNow the same as FAST?
No. PayNow helps address payments using registered identifiers, while FAST is a Singapore interbank transfer system used by relevant transactions.
Is GIRO a scam?
No. GIRO is a legitimate payment arrangement, but an unexpected or unauthorised instruction still requires checking. Verify mandates through your bank and biller.
Can an instant transfer always be cancelled?
No. Recovery depends on facts and the payment system. Treat approved transfers as potentially difficult to reverse, and contact the bank promptly about errors.
What is a digital token?
An authentication or transaction-approval mechanism offered by some banks. Verify every prompt and never authorise actions you did not initiate.
What should I do if someone asks for an OTP?
Do not share it. If a call or message is unexpected, disconnect and verify through the institution’s official channel.
What does Money Lock mean?
A protective feature offered by some banks to restrict normal digital access to a chosen portion of funds, subject to bank-specific requirements.
What is ScamShield 1799?
Singapore’s 24/7 anti-scam helpline for checking suspicious situations and receiving support. For suspected losses, contact your bank urgently and report to the Police through their official process.
Can MAS officials ask me to transfer money over the phone?
MAS states its officials will not ask people to transfer money or reveal banking login details by phone. Treat such requests as suspicious.
Does an alert mean the bank has already frozen my account?
Not necessarily. Read the exact notice in the official app. An alert, temporary hold and full freeze have different effects.
Official Singapore sources and next reading
Payment rules and security functions differ by bank and can change. Use the bank’s verified instructions for any live transaction and the official sources below for general concepts.
- Association of Banks in Singapore — PayNow
- Association of Banks in Singapore — FAST
- Monetary Authority of Singapore — scam advisory
- ScamShield — check whether something is a scam
- ScamShield — 1799 anti-scam helpline
- ScamShield — what to do after a scam
- ScamShield — bank anti-scam hotlines
- Singapore Police — PayNow phishing advisory
For suspicious communications, read Vocabulary for WhatsApp Web | Messages, Linked Devices and Privacy Explained. For the wider series, return to eduKateSG Vocabulary Articles & Knowledge Hub.