There could be a number of reasons for this, but some of the most common include:
The current limits for cross-border payments are set by our payment partners and vary over time. If a certain transfer is above the limit, you’ll see a message in the app to let you know.
If you're making a local SGD transfer to an account held in Singapore, there is a limit of SGD 200,000 per transaction. Additionally, please be aware of the Payment Services Act limits when making such outbound transfers.
The beneficiary bank may have rejected the transfer if the recipient account details don’t match. Similarly to limits, if we receive additional information about the failure, you’ll see a relevant message in the app to let you know.
The account you’re paying to may not be able to accept certain types of transfer (i.e SWIFT or SEPA) or may have been closed at the beneficiary bank end. To make sure this won’t happen, make sure that you keep your recipient account details up to date.
This is especially common for standing orders (recurring transfer). If you don’t have enough funds to complete a transfer, we’ll send you a notification 24 hours before, so that you have enough time to add money to the account and the transfer can go through.