A small number of DBS Bank's four million customers in Singapore may have problems accessing certain banking services over Aug 5 and 6,
SINGAPORE - A small number of DBS Bank's four million customers in Singapore may have problems accessing certain banking services over Aug 5 and 6, the bank's spokesman told The Straits Times on Thursday (July 20).
This is due to the "scale of the migration" between DBS and ANZ Banking Group, she added. DBS announced last year it agreed to acquire ANZ's wealth management and retail banking businesses in Singapore, Hong Kong, China, Taiwan and Indonesia for S$110 million.
In a July 14 e-mail to some customers, the bank said: "Some DBS services will be down from 5 to 6 August 2017. But we are working hard to minimise disruption."
Its spokesman said DBS sent out its first notification on the impending disruption around July 14.
"We targeted customers that would likely be affected. These include active users of debit cards and Cashline. There will be another notification via SMS and e-direct mailers (eDM) at the end of the month to customers," the spokesman said.
The bank expects customer impact to be minimal, as it will "continue to proactively reach out to them via SMS, eDM, as well as its online and physical channels, so they can make alternative arrangements early".
There will be no impact on key services such as Internet, mobile and phone banking, ATMs and other self-service banking channels, and the customer call centre, the bank said.
Some of the service disruptions are:
Those with queries can contact the 24-hour DBS customer service hotline on 1800-111-1111.
"Since the announcement of the acquisition of ANZ's retail and wealth business in five markets across Asia, DBS and ANZ have been working closely together to ensure a smooth and seamless transition. The integration is progressing well and remains on track for completion in all markets by early 2018," the bank said.
The portfolio of businesses being acquired represents total deposits of S$17 billion, loans of S$11 billion, investment assets under management (AUM) of S$6.5 billion and total revenue of S$825 million for full year 2016. They serve about 1.3 million customers, of which more than 100,000 are affluent/private wealth customers and 1.2 million are retail customers.