P2P Funding Options and Start Dates

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Bank Payment Instructions

Disclaimer: Depending on the method used, wire transfers can take anywhere from several hours to several days (4-5 business days). To prevent delays and late fees, please initiate a transfer several days before a due date especially for international wire transfer (SWIFT) and U.S. domestic wire transfer (Fedwire). Eventual transfer fees, whether to or from your account, will be charged to your P2P account.

Funding by cash or cheque should be deposited directly to your nearest DBS branch or cash/cheque deposit machine.

1) International Wire Transfer (SWIFT)

Can be done from anywhere. Involves multiple bank charges, including a 5.00 SGD (or USD equivalent) receipt charge by DBS.

USD – United States Dollar

Bank Name DBS Bank
Branch Address 12 Marina Boulevard,
Marina Bay Financial Centre Tower 3
Singapore 018982
SWIFT Code DBSSSGSG or DBSSSGSGXXX
Account Name Silver Bullion P2P Client Account
Account Number 0003-022482-01-3
(omit 0003 if already been keyed-in)
Reference S.T.A.R. ID or Name

If your bank requires additional wiring details:

Correspondent Bank JPMorgan Chase Bank, N.A.
SWIFT CHASUS33

SGD – Singapore Dollar

Bank Name DBS Bank
Branch Address 12 Marina Boulevard,
Marina Bay Financial Centre Tower 3
Singapore 018982
SWIFT Code DBSSSGSG or DBSSSGSGXXX
Account Name Silver Bullion P2P Client Account
Account Number 003-928756-9
(omit 003 if already been keyed-in)
Reference S.T.A.R. ID or Name

2) U.S. Domestic Wire Transfer (Fedwire) – USD only

Funds will be forwarded to our DBS Singapore Account by Western Union Business Solutions. This payment method involves a wiring charge of 30.00 SGD (or USD equivalent) by Western Union Business Solutions and a 5.00 SGD (or USD equivalent) inward receipt charge by DBS.

USD – United States Dollar

Bank Name The Bank of New York Mellon
Branch Address 1 Wall Street, New York, NY 10286, USA
SWIFT Code IRVTUS3N
ABA Number 021000018
Account Number 8900690429
Beneficiary / Name Western Union Business Solutions (USA), LLC
Beneficiary Address 100 Summit Avenue, Montvale, New Jersey 07645
Add Reference FFC: 58098-SG Silver Bullion followed by your S.T.A.R ID (or your name)

Important Note: To avoid delays in processing your wire transfer, please ensure to always include “FFC: 58098-SG Silver Bullion”. Please advise us through e-mail or secure notification that the transfer is to be credited to your P2P account.

3) Singapore Domestic Wire Transfer (FAST, MEPS, GIRO, or TT)

SGD GIRO can take 3 business days. SGD FAST is immediate but limited to 200K SGD, chargeable. SGD MEPS, latest next business day, chargeable. Intra DBS Bank transfers are free and immediate.

USD – United States Dollar

Bank Name DBS Bank
Bank Code 7171
Branch MBFC or Shenton Way
Branch Code 003
Account Name Silver Bullion P2P Client Account
Account Number 0003-022482-01-3
(omit 0003 if already been keyed-in)
Reference S.T.A.R. ID or Name

SGD – Singapore Dollar

Bank Name DBS Bank
Bank Code 7171
Branch MBFC or Shenton Way
Branch Code 003
Account Name Silver Bullion P2P Client Account
Account Number 003-928756-9
(omit 003 if already been keyed-in)
Reference S.T.A.R. ID or Name

P2P Start Dates

During the Bidding Period lenders and borrowers publish their respective offers / requests and create loan contracts if they agree to each other’s terms. This is followed by the contract Loan Start when funds are credited / debited to the parties respective P2P accounts.

All dates and times are on Singapore Time (SGT) as follows:

Bidding Period Loan Start / Payout
22 - 31 Jul 2019 Thursday, 01 Aug 2019
01 - 07 Aug 2019 Thursday, 08 Aug 2019
08 - 14 Aug 2019 Thursday, 15 Aug 2019
15 - 21 Aug 2019 Thursday, 22 Aug 2019
22 - 31 Aug 2019 Sunday, 01 Sep 2019
01 - 07 Sep 2019 Sunday, 08 Sep 2019
08 - 14 Sep 2019 Sunday, 15 Sep 2019
15 - 21 Sep 2019 Sunday, 22 Sep 2019
22 - 30 Sep 2019 Tuesday, 01 Oct 2019
01 - 07 Oct 2019 Tuesday, 08 Oct 2019
08 - 14 Oct 2019 Tuesday, 15 Oct 2019
15 - 21 Oct 2019 Tuesday, 22 Oct 2019
22 - 31 Oct 2019 Friday, 01 Nov 2019
01 - 07 Nov 2019 Friday, 08 Nov 2019
08 - 14 Nov 2019 Friday, 15 Nov 2019
15 - 21 Nov 2019 Friday, 22 Nov 2019
22 - 30 Nov 2019 Sunday, 01 Dec 2019
01 - 07 Dec 2019 Sunday, 08 Dec 2019
08 - 14 Dec 2019 Sunday, 15 Dec 2019
15 - 21 Dec 2019 Sunday, 22 Dec 2019
22 - 31 Dec 2019 Wednesday, 01 Jan 2020
01 - 07 Jan 2020 Wednesday, 08 Jan 2020
08 - 14 Jan 2020 Wednesday, 15 Jan 2020
15 - 21 Jan 2020 Wednesday, 22 Jan 2020

NOTE

  • Bidding closes at 23:00 hours SGT the day before Loan Start. There will be a 1 hour non-bidding period before bidding for the next Loan Start begins.
  • Funds must be in your account by 12:01 AM SGT on the Loan Maturity Date. You must have enough funds in your P2P Account to cover your payment / repayment commitments for the current Loan Start. Because a Loan Maturity Date can fall on a bank holiday(s) and international bank transfers are often delayed, please fund your P2P account early.
  • As an alternative to sending funds, or if you unable to do so in time, you can "roll-over" a loan, pending availability, by obtaining a new loan from a lender based on offered terms. Loans can be obtained up to 1 hour before Loan Start date.
  • Should funds in your P2P account be insufficient to cover your loan commitments by 12:01 AM SGT on the Loan Maturity Date, you will be charged a late fee of 1.0% of the outstanding balance at payment due date and for every loan period thereafter. In such a case the Sweeper Fund will, pending funds availability, provide you with an intra-day loan to cover your payment commitments and prevent a contract breach.
  • If you require funds immediately and have an upcoming valid loan contract, a loan advance can be arranged.