What's happening with Syfe's banking partner?

Syfe is delighted to share that we are transitioning our partnering bank from DBS to HSBC Singapore, to improve clients' funding experience, reducing the confusion clients face when it comes to transferring funds to Syfe. This move involves shifting cash assets, a process set to take place from December 2023 to be completed by the end of January 2024.

Clients are not required to take any actions. We will manage the transition seamlessly.

What changes can clients expect?

Clients may observe updated banking details for their respective funding methods on some portfolio's funding page. Rest assured, these details are accurate, reflecting the new banking information for HSBC Singapore. Clients can proceed to transfer funds to the updated HSBC banking details.

Can the old funding methods still be used?

For ongoing transfers to DBS, there will be continued support. However, starting early 2024, Syfe will exclusively accept funding into HSBC. To prevent any delays and minimize inconvenience, it is essential to direct all funds to HSBC. We recommend reviewing and updating any standing instructions to align with HSBC's new banking details. This proactive step will optimize our processes and enhance the efficiency of your transactions.