How to instant deposit via DDA

We have updated our service of instant deposit via DDA. In addition to DBS/POSB Bank, now you can link your accounts at other major banks in Singapore for DDA.

1. What Is Instant Deposit via DDA?

DDA (Direct Debit Authorization) is an authorized transfer service provided jointly by banks and Moomoo Financial Singapore Pte. Ltd. 

Once you link your bank account to Moomoo Financial Singapore Pte. Ltd., you can initiate SGD deposits directly on your moomoo app, and your money will be debited from your bank account and then credited to your account with Moomoo Financial Singapore Pte. Ltd. 

Compared with other deposit methods, DDA has the following advantages:

● Free: It is free to link your bank account and deposit funds via DDA.  

● Efficient: You can initiate a deposit immediately after linking your bank account online. Your deposit will be posted to your universal account within 5 minutes. *

● Convenient: You can initiate instant deposits directly on your moomoo app.

*Exceptions may apply if the deposit is initiated during non-business hours.

2. How to Deposit Funds Instantly via DDA?

2.1. Link your bank account

1) If you haven’t linked any bank account before, please log in to your moomoo app, and go to Accounts > Transfers > Deposit > Instant Deposit via DDA to link your bank account.

2) Or, you can also go to Accounts > Assets > All Functions > Bank Account > Add a Bank Account > Link via DDA to link your bank account.

For more details, please refer to How to Set up DDA

2.2 Initiate a deposit via DDA

1) After your bank account is linked, you can go to Accounts > Transfers > Deposit > Instant Deposit via DDA on your moomoo app to initiate a deposit.

2) You can go to Accounts > Transfers > History at any time to check the progress of your deposit. We will also send you notifications and emails about the progress of your deposit.

Tip: After you initiate a deposit from your newly linked bank account, we may need a bit more time to verify your bank account information.

3.  Information on Instant Deposit via DDA