POSB iBanking Guide For First Timers

POSB iBanking is now called POSB Digibank, with more than 150 online banking services all in one place. From opening a new savings account to transferring funds to almost any other bank in Singapore, you can surely handle it smoothly with POSB iBanking.

Upon signing up, you will access the full range of banking services such as eStatements, PayLah! and SMS Banking. It is simple, secure and always available.

What are The POSB iBanking Eligibility Requirements?

You have to be at least 16 years old and currently have a personal or any joint-alternate account of:

• DBS AutoSave Account
• DBS Current Account
• POSB Savings Account
• DBS Savings Account
• DBS Savings Plus Account
• POSB Current Account
• DBS Cashline
• DBS Home Loan with Servicing Account
• POSB or DBS Credit Card/Debit Card

POSB iBanking Registration

You can register for POSB iBanking via four (4) channels:

• Online at dbs.com.sg/bankonline,
• Digibank mobile app by selecting on “Get Started”,
• any DBS/POSB Branches, and
• by calling the Contact Centre at 1800 111 1111

You will need to identify yourself with your Debit/ATM Card Number or Credit Card Number for online registration. This series of numbers is in front of the card.

You will also need to provide your mobile number and email address during registration.

What are The Benefits of POSB iBanking

Effortless Application

You can register using your personal ATM card (DBS Bankcard, ALUMNUS card and POSB ATM cards), debit card, or credit card. Once you have registered, you can start accessing your accounts online.

Quick Bank Access

You can easily access your latest banking information on both your POSB and DBS accounts. In addition, you can instantly see your deposit accounts, cards, investments and credits.

POSB Security Features

The intuitive navigation toolbars ensure smooth online services. In addition, the built-in security features protect every banking transaction and activity you do with POSB iBanking.

• In addition, POSB provides 100% security on your funds by covering them under the Money Safe Guarantee. Furthermore, if authorised access and transaction are done in your account, POSB will repay the money taken from your account.
• You can also set and customise your email and SMS notifications. For example, whenever you perform selected transactions, POSB will alert the moment transactions occurred and exceeded the amount you specified.
• The iBanking OTP serves as an additional security feature with a One Time Password authorisation. That is why you have to register your mobile number with POSB to receive a digibank OTP every time you make a transaction.

Fast

Getting your latest account information is just a breeze. You can even complete your banking transactions online to avoid the hassle and effort of queuing.

Anytime, Anywhere

You can do any banking transactions anywhere you are. You can also access your DBS and POSB monthly statements any time of the day.

Money Saver

POSB offers discounts when you use selected internet banking services.

Accessible

There is no need to worry about compatibility hardware. POSB iBanking is designed to run even with a PC with the minimum configuration.

Free of Charge

The standard commission or transaction fees for some services such as purchasing of cashiers’ order, demand draft or travellers’ cheque still applies. Still, the use of the iBanking services themselves and sign-ups are free.

How to Log In to digibank Online for the First Time

Use your temporary User ID and PIN when logging in for the first time. Also, you must register your DBS iB Secure Device once you receive the prompt.

1: Enter your temporary User ID and PIN

2: Tick the box to accept the Terms and Conditions of Electronic Services

3: Click “Next.”

4: Key in your preferred digibank User ID

5: Click “Next.”

6: Click “Submit.”

What is iBanking OTP?

The iBanking One Time Password (OTP) is a security feature introduced by DBS for DBS and POSB account owners with online banking access. It is essential to have your active mobile number registered with DBS or POSB to receive your iBanking OTP via SMS. You can use the iBanking OTP for the following services.

SMS Login

You will receive a 6-digit OTP via SMS. SMS Login with iBanking OTP is a new feature introduced in 2012. It is an alternative second-factor authentication on top of using your iB Secure Device.

Banking transactions

The bank will send a 6-digit OTP to your registered mobile number via SMS. Then, it authorises and completes the selected banking or online transactions, such as updating personal information and contact details.

Bank notifications

Also, they will send SMS to your registered mobile number once your online transactions have been completed.

You will not receive an iBanking OTP for online transactions if your mobile number is not updated correctly or the 3D Secure™ technology does not support the merchant website you are transacting on.

You will need your registered mobile number to add a payee, transfer funds overseas, pay bills, update personal details and update your mailing address.

Also, you will need your iBanking OTP and your iB Secure Device. It authorises changes to your personal and contact details, manages alerts, adds new cheques, and demands draft recipients.

How to Change POSB iBanking PIN

You can change your iBanking Pin on the iBanking platform. Simply click “Preferences” on the top right-hand corner to access the “Change iBanking PIN” service. You will be required to key in your iBanking OTP before accessing this service.

Your DBS iBanking PIN and your Credit Card or ATM PIN are not the same numbers. Changing your iBanking PIN does not alter your cards’ PINs.

How to Use iB Secure Device

The iB Secure Device keeps your transactions secured and safe from any fraudulent activities. Certain transactions require specific buttons on the device.

On the other hand, to access services such as Transaction History, Bill Payment or Funds Transfer, you will need an iBanking OTP sent to you via SMS. Otherwise, press and hold the DBS logo on the iB Secure Device button.

How to Replace DBS iB Secure Device

In case your DBS iB Secure Device has been damaged, you can request a free replacement in three ways.

Via Video Teller Machine (VTM)

Follow the steps below.

1: Proceed to your nearest VTM and complete the authentication process with your NRIC, passport, or ATM/Credit/Debit card.

2: Select “iB Secure Device.”

3: Tap “Yes” and select “Reason for Replacement.”

4: Collect your new DBS iB Secure Device

5: Register the new device

6: Scan the barcode

7: Key in the 6-digit iB Secure PIN

8: Press “Confirm.”

Via digibank Online

Do the following steps. 

1: Log in to your iBanking account

2: Select “Request” and then “More Requests.”

3: Tap “Other Services” and select “iB Secure Device Replacement.”

4: Click “Login with SMS” and then choose “Get OTP via SMS.”

5: Key in the OTP sent to you via SMS

6: Click “Login.”

7: Select “Reason for Replacement.”

8: Click “Next”, then “Submit.”

Via digibank Mobile

Ensure safe transactions with these steps. 

1: Log in to digibank

2: Select “Settings” and then “Request New iB Secure Device.”

3: Tap “Request/Replacement Reason.”

4: Verify your Mailing Address

5: Select “Reason for Replacement.”

6: Click “Submit.”

If your request via digibank Online/Mobile, they will send your new DBS iB Secure Device to your mailing address within 3-5 working days

Final Thoughts on POSB iBanking

POSB iBanking lets you Make a Transfer, Manage Payments GIRO Arrangements, Top Up, Redeem Rewards, Manage Investments, Apply to New Accounts, and Update Personal Details and Preferences. Each transaction is safe and secure with iBanking OTP.

Managing your banking transactions has become more convenient. However, it is still your responsibility to be financially savvy to manage your overall finances.

And when it comes to convenience, getting a loan is just as smooth if you apply in Cash Mart. Cash Mart provides flexible online loan solutions for every Singaporean whenever you need them.