Dear Valued Customers
For improved security against scams, Bank of China will revise the default online fund transfer limits to SGD5,000 with effect from 8 October 2022. This will apply to online fund transfers to other BOC accounts, local bank transfers, international remittance, bill payment and CNY Pre-Settlement.
Below is the list of online transaction types and default limits (SGD).
| Channels |
Service Type |
New Default Limit per transaction (SGD) |
| Personal Online Banking |
Transfer to Other Payee within Bank |
5,000 |
| Transfer to Other Banks |
5,000 |
| International Remittance |
5,000 |
| RMB Pre-Settlement Remittance |
5,000 |
| Bill Payment |
5,000 |
| |
|
|
| Personal Mobile Banking |
Transfer to Other Payee within Bank |
5,000 |
| Transfer to Other Banks |
5,000 |
| International Remittance |
5,000 |
| RMB Pre-Settlement Remittance |
5,000 |
| Bill Payment |
5,000 |
If you had not made any changes to your online fund transfer limits before, your transfer limits would be updated to the default limit of SGD5,000 from 8 October 2022. If you have had made changes to your transfer limits before 8 October 2022, your transfer limits would remain status quo as per your last update.
For customers who would like to update your online fund transfer limits, you may log in to BOC Personal Online Banking to update your current transfer limits.
How do I update my transfer limits in Personal Online Banking?
Steps:
1. Log in to Personal Online Banking with your User ID & PIN and complete the Authentication Process.
2. Under Service Setting, select Transaction Limit Setting.
3. Select the service type that you would like to update on Online/Mobile Banking.
4. Set your limits under Maximum Transaction Limit (SGD) and click Submit.
5. Review your new limits and complete the Authentication Process with your BOC eToken.
6. Your new transfer limits have been updated and you would also receive an SMS notification alert.
Important information:
- Local transfer limits apply to Scan & Pay transactions on Mobile Banking app.
- Transfer limits can only be updated on Personal Online Banking using BOC eToken as the authentication tool.
- If you do not have BOC Personal Online Banking/eToken, please proceed to any BOC branch to apply.
Should you require any clarification, please contact our 24-Hour Customer Service Hotline at 1800 66 95566 (Singapore) or +65 677 95566 (overseas).
Bank of China Limited Singapore Branch
7 Oct 2022
