DBS is one of Singapore’s top banks and offers a wide range of banking and financial services. From loans to credit cards and investment options, DBS customers get access to a spate of products and services. Being one of Singapore’s largest banks – DBS recently acquired ANZ and also owns POSB – the bank has a strong online presence and its online interface allows customers to perform a wide range of banking tasks including withdrawals and fund transfers.
As far as iBanking services are concerned, the bank offers Internet Banking services to its customers. In the case of all banks including DBS, iBanking services are only offered if the customer holds an account with the bank. So, if there is a customer who does not have a DBS account but has a DBS credit card, he can access the DBS interface through the mobile application. The customer can also enter his credit card details and login to the DBS internet interface, but cannot perform inter-bank fund transfers.
DBS iBanking Services
In the purview of iBanking, DBS offers its customers a wide range of services. Let us look at the most common services available to DBS customers:
- Fund Transfer: Fund transfers are the most important feature as far as iBanking service of any bank is concerned. The fund transfer options allows customers to transfer funds within the bank and to other bank accounts. All fund transfers require customers to authenticate transactions with their registered mobile numbers – no transactions can come through without the customer authenticating the transaction through a One-Time Password received on his registered mobile number.
- Managing the account: Through iBanking, customers can manage their bank accounts as well as their credit cards and debit cards. Every transaction performed by the customer through his/her debit card is recorded in the iBanking interface (Note: The debit card has to be linked to the bank account of the customer and should be of the same bank that the customer holds an account in). As in the case of credit cards, customers can monitor their credit card account if the credit card is offered by the same bank that the customer has his/her savings account or current account with.
- Applying for banking products and services: By logging into their iBanking interface through their credentials, customers can apply for a spate of baking products and services. Popular products and services that customers can apply for include Cheque Books, debit cards and physical copies of their account statements. Customers can also apply for loans from DBS on the DBS iBanking interface.
How to apply for DBS iBanking in Singapore?
Customers who wish to apply for the DBS iBanking Service should hold a savings account with DBS Bank. Customers who have a DBS credit card can also get access to certain features of DBS bank’s iBanking provision.
In order to apply for DBs iBanking services in Singapore, the customer will have to visit his/her nearest DBS branch and place a request at the branch. Once the request is placed, the customer will receive his/her login credentials to the registered mailing address.
How to login to DBS iBanking?
Customers can login to the iBanking interface with their login details - their User ID and Password. Both the User ID and Password (DBS Login details) will be sent to the customer’s mailing address. The customer can then access the interface by entering his/her login credentials.
Customers can also reset their password - if they’ve forgotten their password - by clicking on the Forgot Password option. In order to reset the password, customers will be required to enter the PIN received to their registered mobile number and their debit card details.
Note: Customers can place a request for DBS iBanking services online but they will have to visit the nearest branch on order to complete the application process. Customers can also contact the DBS hotline number for any queries regarding iBanking services offered by DBS Bank.
Key Benefits of DBS iBanking
- DBS iBanking allows customers to make fund transfers within DBS and to other banks with absolute ease and convenience.
- Customers can apply for a range of banking products through the iBanking interface. An executive from the bank will get in touch with the customer to help complete the application.
- Customers can pay an array of bills including their credit card bills and utility bills through DBS iBanking.
- As a matter of fact, customers can perform any type of banking activity, including investments, through the DBS iBanking interface.
Things to know while using iBanking services from DBS Bank
There are certain aspects that customers need to keep in mind while using iBanking services. Let us look at the most common aspects associated with iBanking services:
- Adding beneficiaries: In order to perform fund transfers on the iBanking interface, customers will first be required to add a beneficiary. The interface will contain an option that allows customers to add beneficiaries. A beneficiary will be successfully added after the process is authenticated through a One-Time Password received on the customer’s registered mobile number.
- Investment Options: Customers can look at the various investment options available to them on their iBanking interface and open FD accounts and other investment cum deposit accounts on the iBanking interface.
- Authenticating transactions: Customers will need to authenticate transactions using a secure password received to their registered mobile number. No transaction (fund transfers in particular) will come through without the customer’s authentication.
Investment options available under DBS iBanking
DBS Bank’s iBanking interface allows customers to make investments through the DBS iBanking interface. Following are the various investment and savings options available to customers through the DBS iBanking interface:
- FIxed Deposits
- Unit Trusts
- Exchange Traded Bonds
- SIngapore Savings Bonds
- Structured Deposits
- Mutual Funds
As such, Customers can view the various options available to them on the iBanking interface of the bank and make investment decisions accordingly.
Frequently Asked Questions on DBS iBanking
- Does DBS charge you separately for using its iBanking services?
- Will I get an intimation on transactions i make to DBS accounts and other bank accounts through DBS iBanking?
- What if my fund transfer is unsuccessful?
- Can I cancel a fund transfer if its status is pending?
No. If you have a savings account with DBS bank, you will not be charged for using DBS Bank’s iBanking services. As such, even if you have an account with a different bank, you need to have an account with DBS bank in order to access comprehensive iBanking services offered by the bank.
Yes. You will get an intimation on your registered mobile number. Moreover, you will need to enter the authentication password received on your registered mobile number in order to authenticate and complete any transaction via DBS iBanking.
If your fund transfer has been declined for whatever reason, you will immediately get a notification from DBS bank on your registered email ID and mobile number. If the amount unfortunately gets deducted from your account, the bank will examine the details of the transaction and refund the money at the earliest. For FAST as well as Non-Instant transactions performed using DBS iBanking,
Yes. As long as your fund transfer reflects a pending status, you can cancel it. However, if the amount has been debited from your account and credited to the beneficiary’s account, you cannot cancel it. If in any case you want to reverse the transaction, you can contact the bank’s Hotline number. The customer service representative will guide you on how to go about it.