OCBC Bank Singapore lets you transfer money through Facebook


Singapore-based banking and finance company — Oversea-Chinese Banking Corporation or simply known as OCBC Bank — has recently been gaining reputation for being perhaps the most advanced and innovative amongst Singaporean banks.

OCBC Banks has remarkably revamped its online consumer banking service by introducing a cleaner and minimalistic flat interface, along with useful features such as financial goal setting and money expenditure tracking.

The company then introduced Velocity 2.0, a refresh of its much-disliked online business banking product. Today, OCBC Bank has added a new features on its iOS app dubbed as Pay Anyone, where users can instantly transfer money via Facebook, email, or SMS within Singapore.

The functionality promises to make inter-bank transfer reliably fast and simple. Previously, You’d need to know the bank account details of the receiver to wire money. Now, all I need is contact information and six (6) digit passcode.

OCBC Bank’s latest offering has certainly killed the execution of the app and service as it’s easy-to-use. Pay Anyone app is already on Google Play Store, but the new features has yet to arrived on the app, but OCBC promised to update it next month to accommodate Android users.

While Pay Anyone simply destroyed the need for users to exchange bank account details with one another, senders need to manually send the passcode to the receiver and must key in their bank account details every time they get money, which simply act as a control number to access the money.

*Additional reporting by Irene Tham, Straits Times contributor

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