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    Best DBS Credit Cards

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    DBS is the largest bank in Southeast Asia and Singapore. It is headquartered in Singapore and has seen steady growth in South Asia, Southeast Asia, and Greater China. It has more than 280 branches with a huge customer base of more than four million. It has been declared as the “Safest Bank in Asia” for nine continuous years (2009 to 2017) by Global Finance. Also, Euromoney has recognised DBS as the World’s Best Digital Bank.

    Features & Benefits

    • Contactless payments: You can pay for your purchases through Visa payWave, Samsung Pay, Apple Pay, and Android Pay.
    • Cash rebates: Some DBS credit cards earn you cash rebates when you make certain kind of transactions. DBS Live Fresh Card (which gives you up to 10% on certain transactions), DBS Live Fresh Student Card (which gives you 0.3% cashback on all spends), DBS Takashimaya Cards, the SAFRA DBS Card, and the DBS Esso Card are some of the cashback/cash rebate cards.
    • Miles-earning: With a DBS Altitude Card, you can earn miles faster. The miles don’t even have an expiry period.
    • Rewards points: Cards such as DBS Woman’s Cards, DBS Black Card, DBS NUS Alumni and NUSS Cards let you earn DBS Points, which can be exchanged for attractive vouchers or even frequent flyer miles.
    • Instalment plans: With My Preferred Payment Plan and 0% Instalment Payment Plan, you can convert any kind of large purchase into smaller repayments.
    • Income tax payment: You can also pay your income tax on instalment over a period of 1 year through DBS cards. There will be a one-time fee of 3% of the amount paid to IRAS, and an EIR of 5.63% annually. You also earn rewards points for paying income tax through DBS cards.
    • Recurring bill payments: If you link your repeating bills – such as telecom, utility, broadband and insurance – to DBS cards, you won’t have to bother about their due dates any more. You will receive DBS Points for some of these transactions.

    Most Popular DBS Credit Cards

    Popular DBS cards with perks are listed below:

    Card name Annual fee Rate of interest (% p.a.) Best suited for Rewards Programme
    DBS Live Fresh Card
    • Principal card: S$128.40
    • Supplementary card: S$64.20
    (1-year annual fee waiver)
    25.90% p.a. Online shopping Cashback Programme Read More
    SAFRA DBS Card No annual fee – SAFRA membership fee is applicable. 25.90% p.a.
    • SAFRA privileges
    • Online transactions
    Cash Rebate Programme, SAFRA$ Programme, SAFRAPOINTS programme Read More
    DBS Esso Card
    • Principal card: S$85.60
    • Supplementary card: S$42.80
    (1-year annual fee waiver)
    25.90% p.a. Fuel transactions Esso Smiles Driver Rewards Programme Read More
    DBS Takashimaya Cards
    • Principal card: S$192.60
    • Supplementary card: S$96.30
    (1-year annual fee waiver)
    25.90% p.a. Shopping at Takashimaya Departmental Stores in Singapore and Japan DBS Rewards Points Programme, Takashimaya Bonus Points Programme Read More
    DBS Woman’s Card
    • Principal card: S$160.50
    • Supplementary card: S$80.25
    (1-year annual fee waiver)
    25.90% p.a.
    • Online shopping
    • Beauty and wellness
    • Fashion
    DBS Rewards Points Programme Read More
    DBS Woman’s World Mastercard
    • Principal card: S$192.60
    • Supplementary card: S$96.30
    (1-year annual fee waiver)
    25.90% p.a.
    • Online shopping
    • Overseas shopping
    • Beauty and wellness
    • Fashion
    DBS Rewards Points Programme Read More
    DBS Black Card
    • Principal card: S$192.60
    • Supplementary card: S$96.30
    (1-year annual fee waiver)
    25.90% p.a.
    • Shopping
    • Visa payWave transactions
    DBS Rewards Points Programme Read More
    DBS NUS Alumni Card
    • Principal card: S$128.40
    • Supplementary card: S$77.04
    (Annual fee waiver for 2 years)
    25.90% p.a.
    • NUS alumni
    DBS Rewards Points Programme Read More
    DBS NUSS Card
    • Principal card: S$192.60
    • Supplementary card: S$96.30
    (No annual fee if you’re a NUSS member)
    25.90% p.a.
    • NUSS members
    • NUSS campus stays and outlets
    DBS Rewards Points Programme Read More
    DBS Altitude Card
    • Principal card: S$192.60
    • Supplementary card: S$96.30
    (1-year annual fee waiver)
    25.90% p.a.
    • Travel
    • Online hotel and flight reservations
    DBS Frequent Flyer Programme, Rewards Points Programme Read More
    DBS Live Fresh Student Card Principal card: S$128.40 (Annual fee waiver for 5 years) 25.90% p.a.
    • Students
    • Online shopping
    Cashback Programme Read More
    DBS Credit Card

    DBS Bank offers a wide variety of credit cards. You can choose a DBS credit card based on the category in which you spend the most.

    DBS Altitude Card: Best Air Miles Credit Card

    • With each S$1 spent on online hotel and flight transactions, you earn 3 miles.
    • With each S$1 spent on an overseas transaction (in foreign currency), you earn 2 miles.
    • With each S$1 spent on a local transaction, you earn 1.2 miles.
    • Pay the entire air ticket fare using your DBS Altitude Card and qualify for a travel accident insurance coverage of up to S$1 million.
    • You will be entitled to preferential rates with Alila Hotels and Resorts.

    DBS Woman’s World Card: Best Rewards Credit Card

    • For every S$5 you spend on online spends, you earn 10 DBS Points (or 20 miles).
    • For every S$5 you spend on overseas spends, you earn 3 DBS Points (or 6 miles).
    • For every S$5 you spend on anything else, you earn 1 DBS Point (or 2 miles).

    Note: Miles will be credited to you in the form of DBS Points (1 DBS Point is equal to 2 miles).

    DBS Esso Card: Best Fuel Credit Card

    • Enjoy instant 17% savings on your fuel bills at Esso service stations islandwide.
    • Spend at least S$180 nett per month on your fuel bills for 3 continuous months (January, February and March 2018) and enjoy fuel savings of up to 21.6%.
    • Earn Smiles Points on your dining, shopping, and other card purchases and enjoy free fuel.

    DBS Live Fresh Card: Best Cashback Credit Card

    • Enjoy a cashback of 5% on Visa payWave transactions and online shopping. Visa payWave transactions include Samsung Pay, Android Pay, and Apple Pay too.
    • On all other spends, earn a cashback of 0.3%.

    Rewards Programmes Offered by DBS

    DBS rewards its credit card users with several rewards programmes. This includes DBS Points, SAFRA$, Takashimaya Bonus Points, Esso Smiles Points, frequent flyer miles, cashback, and cash rebates.

    • DBS Points: This is offered on DBS Altitude Cards, DBS Woman’s Card, DBS Woman’s World Mastercard, DBS Black Visa and American Express Cards, DBS NUSS Card, and the NUS Alumni Card. The base earnings are 1 DBS Point (or 2 miles) per S$5 spent. The maximum you can earn is with the DBS Woman’s World Card, which offers 10 DBS Points (or 20 miles) per S$5 for online shopping. These points can be accumulated and redeemed for air miles, cash credits, or discount vouchers on shopping, eating out, travel, and other categories.
    • SAFRA$: This is a cash rebate programme offered only on the SAFRA DBS Cards, and can be redeemed at SAFRA Clubs and member stores, for card bill payments, or for Krisflyer Miles.
    • Takashimaya Bonus Points: These points are also a cash rebate programme, and can be earned only on the DBS Takashimaya Amex and Visa Cards. The points can be redeemed at Takashimaya stores only.
    • Esso Smiles Points: Esso Smiles is a customer loyalty programme by Esso, and if you are a DBS Esso Card holder then you automatically get enrolled in this. You can redeem Smiles points for
    • Air miles: Miles are credited in the form of DBS Points, and can be earned on any card offering these points. However, you need to be enrolled in the frequent flyer programme to convert points to miles. Currently, the DBS Altitude Visa Signature and American Express Cards are the only ones the bank portrays as travel cards.
    • Cash rebates and cashback: This is offered on DBS Live Fresh Card and POSB Everyday Card. You can get up to 10% cashback with these cards.

    Bill Payment

    You can make your DBS credit card payment in several ways. A few of them have been listed below:

    • iBanking
    • Interbank GIRO
    • digibank
    • SMS banking
    • Phone banking
    • DBS/POSB ATM
    • Video Teller Machine (VTM)
    • AXS Station/AXS QuickBill/AXS m-Station/AXS e-Station
    • Cheque payments
    • By paying cash at one of the branches of the bank directly
    • Via cash deposit machines

    DBS Credit Card Hotline

    The hotline numbers for personal banking are mentioned below:

    Personal banking Local Overseas
    Loss of credit card 1800 339 6963 (65) 6339 6963
    General queries and phone banking 1800 111 1111 (65) 6327 2265

    DBS Credit Card Statement

    You can receive your DBS card statement via e-statements. They are convenient, fast, eco-friendly, safe, and secure. You can access up to 7 years’ of your card statements via the iBanking portal. For accessing this portal, you will need to update the bank authorities with your mobile number or email address.

    Card Activation and Cancellation

    • You can activate your DBS credit card for local and overseas use in the following ways:
      • SMS banking
      • DBS digibank app
      • iBanking
      • DBS/POSB ATMs
      • Video Teller Machine (VTM)
    • You can cancel your DBS credit card via Digital Banking Services.

    Balance Transfer

    With the help of DBS Balance Transfer, you will be able to transfer debts from all your other credit cards into a single DBS credit card. You will be charged 0% interest rate for up to 1 year.

    Cash Advance Facility

    With the help of this option, you can use your DBS credit card to get instant cash. You can use this facility in several ways listed below:

    • DBS/POSB ATM: You can use your credit card PIN to withdraw cash in Singapore as well as when you are overseas.
    • DBS/POSB branch: You can get cash by showing your credit card logo (Visa, Mastercard, and American Express) at any of the DBS bank branches (both local and overseas branches)
    • iBanking: You can use your login credentials and get cash through FAST.
    • Phone: You can call at 1800 111 1111 (local) and +65 6327 2265 (overseas).

    You can apply for cash advance option in the following ways:

    • iBanking
    • ATM
    • Visit any of the bank’s branch
    • Call the hotline numbers 1800 111 1111 or +65 6327 2265 (from overseas)

    Terms and conditions for the cash advance facility:

    • The maximum amount you can withdraw using cash advance will depend on your available credit card limit.
    • Per day, you can withdraw a maximum of S$3,000 using the cash advance facility from any of the DBS/POSB ATM.
    • For every cash advance transaction you do, you will need to pay either a transaction fee equal to 6% of your withdrawn amount or S$15. Whichever is a greater amount between the two will be considered as your cash advance fee.
    • Also, 28% p.a. will be the prevailing cash advance interest rate that is applicable (rate of interest will be compounded if you fail to make the payment in full) on your withdrawn amount. It will be charged on a day-to-day basis starting from the date you performed the cash withdrawal and will go on until and unless you have repaid the full outstanding amount. S$2.50 is the minimum interest charge that is applicable.

    Eligibility Criteria

    Card Name Minimum income for residents Minimum income for foreigners Minimum age Read more
    DBS Live Fresh Card S$30,000 and above p.a. S$45,000 and above p.a. 21 years and above -
    SAFRA DBS Card S$30,000 and above p.a. NA 21 years and above You should hold SAFRA membership.
    DBS Esso Card S$30,000 and above p.a. S$45,000 and above p.a. 21 years and above -
    DBS Takashimaya Cards S$30,000 and above p.a. S$45,000 and above p.a. 21 years and above -
    DBS Woman’s Card S$30,000 and above p.a. S$45,000 and above p.a. 21 years and above -
    DBS Woman’s World Card S$80,000 and above p.a. S$80,000 and above p.a. 21 years and above -
    DBS NUS Alumni Card S$30,000 and above p.a. S$45,000 and above p.a. 21 years and above You should be a graduate from the National University of Singapore.
    DBS NUSS Card S$30,000 and above p.a. S$45,000 and above p.a. 21 years and above
    • You should be a NUSS main or spouse member
    • A supplementary applicant should be a NUSS main, spouse or junior member.
    DBS Black Card S$30,000 and above p.a. S$45,000 and above p.a. 21 years and above -
    DBS Altitude Card S$30,000 and above p.a. S$45,000 and above p.a. 21 years and above -
    DBS Live Fresh Student Card NA NA 18 to 27 years (both inclusive)
    • You need to be a Singapore citizen or a Permanent Resident.
    • You should be an undergraduate student from select educational institutions.
    • If you are below 21 years of age, you need to provide your parental or legal guardian’s consent.

    Documents Required

    Singaporean citizens and PRs

    Salaried employee:

    • A front and back copy of your NRIC
    • Any one of the following income documents:
      • Recent 12 months’ statement of CPF Contribution
      • Latest salary slips
      • POSB/DBS salary account statement
      • Most recent Income Tax NOA along with either of the above documents

    Commissioned/variable income individual:

    • A front and back copy of your NRIC
    • Recent 12 months’ statement of CPF or Income Tax NOA for the past 2 years

    Self-employed individual:

    • A front and back copy of your NRIC
    • Income Tax NOA for last 2 years

    Foreigners

    • A valid employment pass/work permit and passport
    • Most recent Income Tax NOA and latest salary slips or POSB/DBS salary account statement
    • A letter from your company certifying your salary and employment

    Instalment Payment Plans

    • My Preferred Payment Plan:
      • You can split your credit card bill into easy instalments that can go up to 24 months.
      • A one-time processing fee will be applicable which is generally low.
      • All your instalments will be 0% interest-free.
      • You can instantly convert and combine a maximum of 10 transactions.
    • 0% Instalment Payment Plan:
      • You can divide your credit card payment into 3, 6, 12, 18, or 24 months at 0% interest.
      • You can use the Instalment Payment Plan at select merchants’ islandwide.
      • You can initiate the Instalment Payment Plan at the store itself. However, it is better to confirm with the merchant once before you shop something.

    Annual Fees

    Card Name Annual Fee Annual Fee Waiver
    DBS Live Fresh Card S$128.40 1 year
    SAFRA DBS Card NA Annual fee is not applicable if you are a SAFRA member
    DBS Esso Card S$85.60 1 year
    DBS Takashimaya Cards S$192.60 1 year
    DBS Woman’s Card S$160.50 With a minimum spend of S$15,000 per year, your annual fee for the following year will be waived off.
    DBS Woman’s World Card S$192.60 With a minimum spend of S$25,000 per year, your annual fee for the following year will be waived off.
    DBS NUS Alumni Card S$128.40 2 years
    DBS NUSS Card S$192.60 You need not pay an annual fee if you are a member of NUSS.
    DBS Black Card S$192.60 1 year
    DBS Altitude Card S$192.60 1 year
    DBS Live Fresh Student Card S$128.40 5 years

    DBS Cashline

    • With DBS Cashline, you can get up to 4 times your monthly income. In case your annual income is more than S$120,000, you can borrow more.
    • You can withdraw cash 24/7 using any DBS/POSB ATMs islandwide or via DBS Digibank/iBanking.
    • No fee will be charged when you withdraw cash or when you make an early repayment.

    Loan on DBS Credit Cards

    DBS offers you different kinds of loans if you already have a credit card with them. They are:

    Complimentary Privileges

    • Complimentary travel insurance: When you pay your complete travel fare using your DBS Altitude Card, you will be eligible for free travel accident insurance coverage worth up to S$1 million.
    • EZ-Reload: DBS Live Fresh Card gets registered for EZ-Reload automatically. You just need to activate the EZ-Reload option after which you can utilise the card as your EZ-Link card.
    • Petrol savings: You can convert all your dining, shopping, and other card purchases into Smiles Points with the DBS Esso Card, which can be later redeemed for free fuel.
    • 24-hour Butler Service: With the help of DBS Altitude Butler Service, you will get assistance to make your vacation plans, dining reservations, airport transfer, etc. 1800 732 1000 is the hotline number and is available 24/7. You can call from anywhere at any given point in time.
    • Free global airport lounge access: With the DBS Altitude Visa Signature Card, you will be eligible for 2 free global airport lounge visits within a 1-year period of Priority Pass Membership.

    Security Features

    In order to keep your DBS credit card transactions safe and secure, the bank offers several security features such as:

    • DBS iB Secure
    • iBanking OTP
    • Transaction alerts
    • DBS Money Safe
    • 2-Factor Authentication
    • Transaction Screening
    • Secure Technology

    Temporary Credit Limit Increase

    You can use the DBS temporary credit limit increase facility only for wedding, hospitalisation, compassionate, and travel purposes. To use this option, you should be a principal cardholder with a personal liability credit card on your name. In case you own a DBS Live Fresh Student Card or a POSB Multi-tude Card, you will not be able to use this facility.

    Both the principal and supplementary credit card holders can utilise the amount granted via temporary credit limit increase option. However, a supplementary cardholder will not be responsible for any kind of spend made using the temporary limit amount. The entire outstanding credit card balance amount needs to be repaid by the principal cardholder.

    If you repay the temporary limit amount utilised after the expiry date of the temporary limit increase, you will be charged an over limit fee.

    Frequently Asked Questions on DBS Credit Cards

    1. Are supplementary cards available with DBS Credit Cards?
    2. Yes, supplementary credit cards are available with most of the credit cards from DBS. However, an annual fee might be charged for the supplementary card.

    3. What is the annual fee for the SAFRA DBS MasterCard Card?
    4. There is no annual fee for this credit card, as long as the cardholder remains a member of SAFRA.

    5. Does DBS offer any American Express credit cards?
    6. Yes, DBS offers the following American Express credit cards:

      • DBS Altitude American Express Card
      • DBS Treasures Black Elite American Express Card
      • DBS Takashimaya American Express Card
      • DBS Black American Express Card
    7. I am an 18 years old Singaporean citizen and an undergraduate student at Nanyang Polytechnic. Can I apply for a DBS Credit Card?
    8. Yes, you will be eligible to apply for the DBS Live Fresh Visa Student Card.

    9. I want to earn air miles with my credit card. Which DBS Credit Card should I opt for?
    10. If you want to earn air miles, you can opt for the DBS Altitude Visa Signature Card or DBS Altitude American Express Card.

    11. What is the minimum income required to get a DBS Woman’s MasterCard card?
    12. The minimum income required to get a DBS Woman’s MasterCard card is S$30,000 p.a. for a Singaporean and S$45,000 p.a. for a foreigner.

    13. Who do I contact to find out more information about the credit cards?
    14. To find out more information about the credit cards, you can visit the bank’s website or visit any branch or contact on their customer care number.

    15. Will I be charged for late payment?
    16. If your outstanding balance is up to SGD50, then the bank will not charge you for late payment. In case your outstanding balance is SGD50.01 and more, then you will have to pay SGD60 as penalty for paying late.

    17. What is the interest rate on cash advance?
    18. The interest rate on cash advance is 28 percent p.a. on the amount you withdraw. This interest is charged on a daily basis from the date you withdraw until you make the full payment.

    19. How much do I have to pay monthly ?
    20. You have to pay minimum 3 percent of the amount mentioned on your credit card statement or SGD50 (whichever is higher) plus the outstanding sum, if you have any.

    News About DBS Credit Cards

    • Win Tickets to FIFA World Cup with DBS Credit Cards

      Existing DBS Visa Credit Card holders now have the opportunity to win a trip for two to watch the finals of the 2018 FIFA World Cup in Russia. To be eligible for this lucky draw, cardholders need to register on DBS’ website before 31 March 2018. The winner will be selected based on the total spends across all their DBS Visa Cards. Every spend of S$100 provides registered members with one chance to win.

      DBS is looking to pick a total of three winners for the 5-day, 4-night stay in Moscow. While first prize winners get two tickets for the finals, second and third prize winners receive two tickets each for the semi-finals. Along with the tickets for the match, all three winners also get to enjoy free economy airfare, deluxe accommodation with daily breakfast, pre-match hospitality, a day tour of Moscow, exclusive gifts, and more.

      Customers who own multiple DBS Visa credit cards need to register only one card and need to be 21 years old and above to be eligible for this promotional offer. The draw will be conducted on 13 April 2018 in the presence of external auditors.

      The names of the winners will be published on the DBS website within seven days of the draw and they will be notified by post within 15 working days.

      20 February 2018

    • DBS Launches Promotion Offering Angbao Worth S$88

      In the latest promotion introduced by DBS/POSB, cardholders will get ang baos worth S$88 this Chinese New Year on a minimum spend of S$1,888 using the bank card. This offer is valid only till 4 March 2018.

      31st January 2018

    • DBS & Xero Make Billing and Transaction Reconciliation Simpler for MSMEs

      DBS and Xero have added a new feature to their API-based banking solution for easier invoicing to ensure that customers don’t have to enter transaction details separately to DBS internet banking and Xero, thereby cutting down more time.

      30th January 2018

    • DBS launches an easy way for customers to reserve CNY Notes Online

      DBS is offering its customers the option of reserving their CNY notes online. The process of reservation is a five-step process and it can be done until 12 February 2018. The collection process starts from 31 January 2018 and will end on 14 February 2018.

      30th January 2018

    • Domestic Earnings for Fourth Quarter 2017 Expected to Improve

      DBS expects to see an improvement in domestic earnings in Q417 due to better-than-expected GDP flash numbers. It has also predicted better returns on stocks under its coverage for 2018 and support levels for the service sector to sustain.

      05th January 2018

    • Advisory: Beware of emails claiming to be from SIA or DBS

      Singapore police have warned the public of phishing attempts through false emails pretending to be from DBS Bank and Singapore Airlines. Victims are lured to give up their personal details and credit card information, using which illegal transactions are made.

      21st Decemember 2017

    • Enjoy Exclusive Christmas Deals by Using Your DBS Lifestyle App

      DBS has announced special deals for the festive season on their DBS Lifestyle App. From dining to shopping, have a merry Christmas with DBS credit cards!

      18th Decemember 2017

    • Smart Mobile Apps Drive Large-Scale Cashless Transactions

      Cashless transactions have become the new norm these days with multiple payment platforms allowing individuals to make payments through mobile applications, smart watches, QR codes, etc. The cashless landscape has seen significant expansion over the last few years owing to massive advancement in technology and new innovation techniques has only benefited the cause even more.

      Payment through QR Code: The QR Code payment involves scanning barcodes (date) onto a smartphone. The code is associated with the seller’s/customer’s (whichever is relevant) credentials, allowing for payments to be done almost instantly.

      Contactless Mobile Payments: Payment through mobile apps including Samsung Pay, Android Pay and Apple Pay have also contributed to revolutionising the cashless landscape and bringing in far more efficiency in the financial system. These payment platforms use Near Field Communication technology to accept and receive payments and don’t require an internet connection. This greatly reduces potential risk of hacking and breach of information (as NFC doesn’t require the internet).

      Wearable Devices: Wearable devices are also gaining widespread recognition – Smart Watches are one such example. DBS launched the Smart Buddy Programme in about 19 schools in Singapore. Under the programme, students received a smart watch capable of performing smart, contactless transactions.

      P2P Services: Although not very popular yet, P2P services have also gained god distance in influencing the contactless landscape. In a P2P platform, two individuals can directly enter into an agreement and payments can be sent or received.

      25th September 2017

    • DBS Rewards Update 2017

        • Starting from 1 August 2017, DBS Woman’s Cards’ Comfort & CityCab Priority Bookings Programme will be discontinued. However, cardholders will continue earning up to 10X DBS Points on Comfort (payment made with Masterpass), Uber and Grab rides.

        • Starting from 2 July 2017, DBS Points will not be awarded on DBS Takashimaya Credit Cards for purchases made at Takashimaya Square, B2 and Takashimaya Department Store. These purchases will only earn Takashimaya Bonus Points. However, select non-Takashimaya purchases on the credit cards will continue earning DBS Points.

        • Starting from 2 July 2017, Smiles Points will not be awarded on certain transactions including non-fuel spends at Esso service stations, balance transfer, cash withdrawals, interest charges, etc. Starting from 1 May 2017, spends on DBS Esso Card will not earn DBS Points.

        • Starting from 2 July 2017, SAFRA$ cash rebate will not be awarded for certain transactions including utility bill payments, payments made to insurance companies, non-profit organisations, financial institutions, hospitals, payments made through AXS, SAM, eNets transactions, etc.

        • Starting from 1 May 2017, bonus DBS points will not be awarded on DBS Woman’s Cards’ for payments made through iPaymy and CardUp.

        • Starting from 14 February 2017, the DBS CapitaCard has been renamed to the DBS Visa Platinum Card.

      31st July 2017

    • DBS Now Offers Free Advisory Services in Singapore

      DBS has established a financial planning centre which offers customers advisory services free of cost at Tanjong Pagar NAV Hub. “NAV - Your Financial GPS” is the name that DBS has given to this initiative.

      The centre does not deal with the sale of any of the bank’s products or services, but offers customised financial planning to customers. The sessions are offered by DBS/POSB staff members.

      Furthermore, the bank is also conducting financial planning classes every month preceded by experts from the industry which is open to the public to attend. Customers can also visit the bank’s online portal for useful tips.

      The initiative is a result of a survey that was conducted by the bank which yielded the outcome that over half of Singapore’s young crowd do not know how to or do not plan their finances. The survey also showed that 60% of customers between the ages of 20 years and 35 years having below 2 years’ of work experience wanted to achieve their goals through managing their money better.

      18th July 2017

       
    • DBS/POSB Banks Turning to Chatbots

      Banks in Singapore are resorting to chatbots to save time on frequently asked questions and repetitive or redundant queries by customers. DBS Bank’s chatbot, dVA (digital Virtual Assistant), is run through POSB and is available on the banks’ Facebook page.

      dVa helps customers with queries about the bank’s services and products, as well as to locate the nearest ATMs and operating hours of branches. Jeremy Soo, head of consumer banking group of DBS Bank, said, “We know that our customers are spending time conversing on their favourite mobile messaging apps, and we are immersing ourselves in the customer journey by making it easier and more convenient for them to engage us. Customers can also soon look forward to conducting their banking transactions via this service.” DBS has a customer base of over 5 million currently.

      OCBC also launched two bots – Emma for home loans and Buddy for internal HR queries. Chatbots are likely to save banks over S$8 billion every year by 2022, according to Juniper Network.

      18th July 2017

       
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