Countries and Currencies
What currencies can I send to and from?
However, the SBA is an SGD-denominated account. As such, all foreign currencies will be converted into SGD and be reflected in your account.
Which countries can I send to?
Any other corridors that Sleek decides to prohibit are subject to its sole discretion.
What are the daily transaction limits?
However, there is a transaction limit of SGD 200,000 per outgoing transaction.
What are the transaction limits per transaction?
There is no transaction limit for incoming transactions.
What methods of local transfer does the Sleek Business Account (SBA) support?
2. MEPS (incoming and outgoing)
3. IBG (incoming only)
How do I add a new recipient?
What are the local transfer fees?
What is the processing time for local outgoing/incoming payments?
For local transactions via MEPS, transactions will be reflected in your SBA within 1-2 working days.
For local non-SGD transactions via the SWIFT network, transactions will be reflected in your SBA within 3-5 working days.
Can I send or receive PayNow transfer?
In the interim, if you have recurring collections, using FAST could be a better alternative as your payor only needs to save your account number in their banking app and thereafter it is easy to pay you. Furthermore, local transfer fees are absorbed by Sleek.
Can I make GIRO payments?
In the interim, if you have recurring payments, using FAST could be a better alternatives as you only need to add your beneficiary account number once in the Sleek Business Account web app and thereafter it is easy to make future payments. Furthermore, local transfer fees are absorbed by Sleek. You may refer here to learn how to add beneficiaries and send money.
Can I set up Sleek Business Account (SBA) for CPF contribution?
Does the Sleek Business Account (SBA) support Apple Pay or Google Pay?
Is the Sleek Business Account (SBA) able to process Stripe payments?
What methods of international transfer does the Sleek Business Account (SBA) support?
How do I add a new recipient?
What is the processing time for outgoing/incoming international payments?
Which countries are temporarily unavailable for outgoing international payments?
Why has my outgoing international payment been declined?
1. Incorrect Beneficiary Details
Please validate your beneficiary details before initiating the transfer again.
2. Insufficient Funds in your Sleek Business Account (SBA)
An SGD 100 buffer is implemented to cover any additional charges charged by the intermediary banks. Hence, you will only be able to transfer the total balance in your SBA less the SGD 100 for any international payments.
3. Sending SGD overseas.
Currently, SBA does not support sending SGD overseas (e.g. sending SGD overseas to Australia). You may send other currencies overseas.
4. All outgoing international payments are made by Sleek Tech Pte. Ltd. on behalf of your company.
Due to certain countries'/beneficiaries' regulations, they might reject the transaction.
Fees and Pricings
SGD Transfer Within Singapore
SGD Transfer (Sending and receiving) within Singapore via FAST
Cross Border Transfer (Charged by Partner Bank)
Outward Telegraphic Transfer
Handling commission, or handling charge, is a surcharge that the bank or remittance service provider levies on the money transferred overseas.
As its name suggests, it covers the administrative cost of handling the transaction for you.
0.125% (min S$10, max S$120)
In Lieu Of Exchange (not involving foreign exchange)
0.125% (min $S$10, max S$120)
When you wish to transfer money from your bank account into an overseas bank account, the bank needs to make contact with the receiving bank.
The time and effort to make contact with the receiving bank is accordingly chargeable as a cable charge. It is almost akin to the fees you must pay when you call your overseas friend on your telco post-paid plan.
The cable charge is typically a fixed fee per transaction, set by the bank or money transfer service provider.
There will always be a receiving bank in an overseas money transfer transaction. The receiving bank is also known as the agent bank. The agent bank will need to liaise with your bank or money transfer service provider to accept and complete the transaction. For these efforts, the agent bank charges a fee.
If Applicable (Approximately S$20)
Amendment / Tracer Charges
Charges apply for each tracer/amendment(e.g. incorrect beneficiary name or account details)
Inward Telegraphic Transfer
Cancellations and refunds
I would like a refund for something I bought.
Do note that point of sale transactions cannot be reversed. If you authorise a transaction and then fail to make a purchase of that item as planned, the approval may result in a hold of funds equal to the estimated purchase amount, for up to seven (7) days.
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