Which brokers accept PayNow or local bank transfer from Singapore?
Verdict
- None of the brokers in our data lists PayNow; Pepperstone, our pick for Singapore, offers SGD base-currency accounts funded by bank transfer, cards, Apple Pay, Google Pay, PayPal, Skrill, Neteller or crypto, all free to deposit.
- Pepperstone's international funding table lists 'domestic bank transfer' with no minimum, but it is the same table as its Australian one and does not name Singapore banks or FAST, so confirm the details with support before sending.
- XS lists bank transfer from $300, cards from $20 and Skrill or Neteller from $15, in EUR, USD or GBP, with no SGD account.
- Capital.com does not accept Singapore residents.
Singapore traders are used to moving money instantly between local banks, and brokers' funding pages rarely reflect that. We checked what each broker in our data publishes. The short version: nobody lists PayNow, but you can still fund from a local bank account, and choosing an SGD account at Pepperstone keeps conversion out of the picture.
Pepperstone: SGD account, free deposits, no PayNow listed
Pepperstone lets Singapore residents hold their account in SGD, one of ten base currencies on its international site. Its funding table lists cards, Apple Pay, Google Pay, PayPal, Neteller and Skrill from a $10 minimum and processed instantly, crypto from $18, and domestic bank transfer with no minimum, taking up to 7 business days. Every method is listed as free. PayNow does not appear. We still rank Pepperstone first because its low published trading costs matter far more over a year than a few days' wait on a first transfer, and card or e-wallet deposits arrive instantly.
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Can I fund a trading account from a DBS or OCBC account?
Yes, in the ways each broker allows, as long as the account is in your own name. From a local bank you have two routes at Pepperstone. One is a bank transfer: the funding table lists domestic bank transfer, but it is copied from Pepperstone's Australian page, so ask support for the receiving bank details and whether a Singapore-dollar transfer from your bank counts as domestic. The other is the Visa or Mastercard debit card your bank issued, which Pepperstone lists as an instant deposit method; whether your bank authorises the payment is between you and the bank. Withdrawals go back to the source you paid from.
Funding methods side by side
| Pepperstone | XS | |
|---|---|---|
| PayNow | Not listed | Not listed |
| Bank transfer | Domestic transfer, no minimum, up to 7 business days | From $300, 1-7 working days to withdraw |
| Cards | Visa and Mastercard, from $10, instant | Visa and Mastercard, from $20 |
| E-wallets | PayPal, Skrill, Neteller | Skrill, Neteller, from $15 |
| SGD base currency | Yes | No (USD, EUR, JPY) |
| Deposit fees | None listed | No internal fees |
Steps for a first deposit from a Singapore bank
- Open the account in SGD if your bank account is in SGD.
- Ask Pepperstone's support, in writing, for the bank-transfer details for Singapore residents and the expected timing.
- For speed, make the first deposit by debit card or e-wallet instead.
- Send a small amount first, then withdraw part of it back to confirm the route works both ways.
Sources
Funding pages as published.
Does Pepperstone accept PayNow?
Not on its published funding table. It lists cards, Apple Pay, Google Pay, PayPal, Skrill, Neteller, crypto and domestic bank transfer.
How long does a bank transfer to Pepperstone take?
Up to 7 business days for domestic bank transfer, according to its international funding table. Cards and e-wallets are listed as instant.
Can I deposit from a friend's bank account?
Use an account in your own name. Pepperstone returns withdrawals to the source of the deposit, and its UK site states it takes no third-party payments.
Funding a CFD account means putting money at risk in leveraged, complex products that can lose value fast. Pepperstone Markets Limited states that 80% of retail investor accounts lose money trading CFDs with it. Payment terms change; confirm them with the broker. Not investment advice.