POSB Pop-Up ATMs to Dispense New Notes From 29 January This Year

BankBazaar Singapore – January 24, 2018

Singapore: POSB has informed its customers in a recently released statement that starting 29 January 2018, it will set up 36 pop-up ATMs in 27 community clubs across the island to dispense new bank notes for the Chinese New Year.

The pop-up ATMs will be set up by DBS/POSB in association with People’s Association. The concept which was introduced by the bank for the first time before the Chinese New Year in 2015, has become extremely popular in Singapore, over time.

The bank has said that representatives will be stationed around the pop-up ATMs between 9:00 a.m. and 9:00 p.m. daily till 14 February 2018 to guide customers and help them conduct transactions at these pop-up ATMs. Except for the pop-up ATM at Chong Pang Community Club which will stay open between 9:00 a.m. and 10:00 p.m., all the other ATMs will stay operational throughout the day during the period.

More Options to Withdraw Money in Different Denominations

POSB/DBS customers will be able to use their cards to withdraw money in sums of S$100 (2xS$50), S$300 (30xS$10) and S$500(10xS$50) like last year. However, the bank will also allow its customers to withdraw the following sums to save the customers the hassles of making multiple withdrawals:

  • S$200 (2xS$100)
  • S$300 (2xS$50+20xS$10)
  • S$500 (20xS$10+6xS$50)

Jeremy Soo, Managing Director and Head of Consumer Banking Group (Singapore), has reportedly said that the bank has been consciously trying to reduce the time that customers had to spend at pop-up ATMs over the past few years due to heavy rush.

As a consequence, the number of pop-up ATMs at community clubs have gone up from 22 in 2016 to 27 this year. The bank has also upgraded the machines to ensure that the machines can hold and dispense more cash.

Online Reservation System to Offer Greater Convenience

POSB and DBS customers will be able to choose from denominations of S$2, S$10 and S$50 and make reservations through the designated bank websites for new and good-as-new notes. They can collect the notes from full-service branches on their preferred dates and times.

Priority Queues for the Elderly and the Physically Disabled

The elderly and those with special needs will continue to have priority queues at their disposal at all the full-service branches throughout the island to collect their new notes. The bank has confirmed that customers will be able to use the SMS ‘Q’ notification service to request a queue number prior to visiting a branch.

Deposits Via DBS Paylah! To Be Accepted on Li Chun

Mr. Soo, in his statement, revealed that customers will be able to make deposits by using the bank’s virtual payments app Paylah! at auspicious times on the day of Li Chun. The bank will incentivise customers who make deposits through the app on the day of Li Chun by giving them a chance to win S$88. This year, the festival will be celebrated on 4 February.

Customers To Receive Ang Baos From DBS/POSB

Customers who exchange new or good-as-new notes at one of the DBS or POSB branches or at one of the pop-up ATMs will receive two sets of Ang Paos or red packets from either POSB or DBS.

The bank has said that it is trying to make transactions faster and simpler during the festival season to gift customers a hassle-free experience.

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