The Post Office Savings Bank commonly referred to as POSB is a financial services provider that was established in 1877 in Singapore.
The bank is one of the oldest banks in Singapore, since 1998 operating under DBS brand.
iBanking platform
To keep up with changing trends in technology, the POSB bank has developed online and mobile banking platforms. Such innovations provide clients with easy and convenient access to their accounts.
Since the inception of its online banking system, POSB bank has grown to have the largest online banking base in Singapore. The platform allows more than 2 million clients to carry out various services such as:
- check account balances
- money transfers
- pay bills
- view online statements
- manage accounts
- apply for a credit card.
Any person with an existing POSB personal account can register for iBanking by visiting the bank’s site at www.dbs.com.sg/bankonline. The client will then need to identify themselves using either their ATM/debit card, credit card, “iB secure device”, or a temporary user ID.
Then, the user can follow the steps online and and create a user ID and password to access the online bank.
Security
As POSB bank that takes pride in taking care of its clients, it has applied several security measures to their online platform to ensure that users data is always protected.
One such measure is the money safe guarantee that assures clients that in the event of an unauthorized transaction on their account they will have all their money refunded.
The platform also ensures safe and secure transactions by offering multi-factor authentication and alerts on selected transactions.
Also, it uses high-end 128 BIT encryption that ensures the protection of any data sent between the bank and the user.
Digibank mobile app
Account holders that have registered for iBanking can also access mobile banking by using the same used ID as for online banking. Mobile banking is provided through the POSB Digibank app that is designed to make banking faster, smarter, simpler and more secure.
The app comes with great features such as:
- peek balance that allows to check their balance with one swipe with no login required
- a touch ID feature that allows to access their accounts using their fingerprint
- instant account opening
- and personalised profiles.
In addition to these features, clients still have access to services such as:
- funds transfers
- account overview
- paying bills
- and online statement review.
The POSB Digibank app is available for download from the App Store and Google play. It is compatible with iOS 7.0 or higher, or Android version 4.2 and higher.