How the iFAST Bridge Empowers Singaporeans to Move Their Money 

Moving money internationally can be difficult, especially when you’re moving large amounts of money. Moving your money in and out of Singapore often subjects your balance to questionable exchange rates and substantial transfer fees, so when your money finally lands in a new country, your balance could be substantially lower than when it took off. You shouldn’t have to give up such large chunks of your money just because you’re moving it from one of your accounts to another. That’s where making use of the iFAST Bridge comes in handy, helping you move your money without worry from one account to the next. But what is the iFAST Bridge, and how does it allow you to move your money across borders? This guide explores how. 

What is the iFAST Bridge? 

The iFAST Bridge is a link between iFAST Global Bank and other iFAST Group Platforms, such as FSMGlobal, iFAST Financial, and iFAST Global Markets. The bridge allows you to transfer funds that you hold from any iFAST Group platform in and out of iFAST Global Bank without paying any fees, ensuring that when your money travels, all of it makes it to the other side. 

How do you sign up? 

Signing up is simply a matter of linking your accounts.  

Remember, you can link multiple iFAST accounts, such as FSM Global Singapore, iFAST Global Prestige Singapore, and iFAST Global Markets Singapore, to one iFAST Global Bank Account, allowing you to transfer money from multiple sources. 

How do you transfer money? 

Keep your money working for you 

Just because your money has been moved out of your iFAST investment accounts, that doesn’t mean it should stop earning for you. Banking with iFAST Global Bank means access to several ways of wealth generation native to the bank itself. Any excess money that you don’t need right now can be put into a fixed-term deposit, allowing you to earn enhanced interest on your money. Customers transferring from other iFAST platforms in Singapore can create fixed-term deposits using 9 out of the 10 currencies transferrable from your investment platforms, with only CHF being non-eligible. In addition, customers can also exchange their money fee-free into AED, allowing them to create a fixed-term deposit, despite not being able to transfer AED from iFAST investment platforms**. Even if you don’t want to lock your money up, you’ll be able to earn on all your currencies regardless, as using the iFAST Global Bank Multi-Currency Current Account means that your money earns interest without having to be moved into a savings account, allowing you to spend and save without any barriers. 

**iFAST Global Bank Fixed Term Deposits are subject to a fixed deposit term. Early withdrawal before maturity is not permitted unless under exceptional circumstances and may result in loss of all accrued interest. A 14-day cooling-off period applies from the date of application, during which you may cancel your fixed term deposit without penalty. More details can be found on our website at www.ifastgb.com. Deposits up to £120,000 are fully protected by FSCS (Financial Services Compensation Scheme). More details: https://www.fscs.org.uk/. T&Cs apply. 

*** 18+, Interest rates are variable and are subject to change. Details regarding the interest rates can be found on our website at www.ifastgb.com. Please refer to our website for full terms and conditions. Deposits up to £120,000 are fully protected by FSCS (Financial Services Compensation Scheme). https://www.fscs.org.uk/ has further details on the scheme. 

The best way to move your money 

Building wealth is vital to living a comfortable life, and one of the best ways to build wealth is to minimise how much of it is taken when you have to move it. That’s why the iFAST Bridge exists: To make sure your money stays yours, no matter if that money’s parked in Singapore or the UK. Just link your accounts, and iFAST takes care of the rest. 

Additionally, Banking with us includes:     

Interest Bearing Multi-Currency Current Account  

Earn 1.50% AER (variable) on SGD balances held in your everyday Multi-Currency Current Account, with your money available for spending, transfers and payments as usual.   

Interest rates are variable and are subject to change. Details regarding the interest rates can be found on our website at www.ifastgb.com. T&Cs Apply.