Frequently Asked Questions


Frequently Asked Questions

General Questions

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Q1. What is FPS?

Q2. How do I send money using FPS?

Q3. Who can use the service of instant payments supported by FPS?

Q4. Which banks and SVFs provide the service of FPS instant payments?

Q5. What are the operating hours of FPS? Can I use FPS over the weekends or holidays?

Q6. How much does it cost to make peer-to-peer transfer to another bank or SVF?

Q7. Is it safe to use FPS to send funds?

Questions on registration for FPS

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Q8. Do I need to register with a bank or SVF to send or receive funds via FPS?

Q9: How can I register mobile number for use in the FPS?

Q10: How do I know if the recipient has registered his/her mobile number or email address so that I can use his/her mobile number or email address for payment?

Q11: How can I remove an account from FPS registration?

Questions on personal information

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Q12: What personal information would be provided to the FPS?

Questions on transferring funds using FPS

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Q13. If my bank or SVF does not provide instant payment service, can I still send or receive funds through my bank using FPS?

Q14. Can I transfer money from banks to SVFs or vice versa?

Q15. How can I be sure the account I am sending to accepts payments via FPS?

Q16. What is the maximum transaction limit for using FPS?

Q17: How do I know if the payment is successful?

Q18. Can I transfer money to overseas account?

Q19. How to prevent mistakes when sending a payment?

Q20. I am trying to recover a payment I sent to the wrong account. What should I do?

Questions on Direct Debit

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Q21. How to establish direct debit instructions to top up my SVF e-wallet?

Q22. Is it safe to set up direct debit authorisation?

Q23. What if the account is debited for a wrong amount?

Q24. How can I cancel direct debit authorisation?

Q25. Can someone else set up a direct debit to debit my account?

Q26: Is there any limit to direct debit instructions?

Questions on QR code payments for consumers

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Q27. How can I scan QR code to make payments?

Q28. How can I present a QR code for receiving payments?

Q29. Is it safe to scan a QR code to pay?

Q30. Is it safe to provide my QR code to others to pay to?