Frequently Asked Questions
Benefits of Transaction Signing
- What is Transaction Signing?
Transaction Signing is a new procedure introduced as part of an industry-wide initiative to bring you a more secure online banking environment. It is used for certain "high-risk" transactions like adding payees, updating personal particulars, or performing high-value transactions.
Transaction Signing requires you to digitally "sign" transactions, and serves as an authorization by you to ensure the authenticity of the specific online transaction.
As part of Transaction Signing, you will now be required to enter transaction specific details like the account or reference number and transaction amount, after which an OTP is generated. This OTP is based only for the specific number and transaction that has been entered. This process further minimizes any potential risk.
- Will there be any changes to the current iBanking services?
Effective 16 December 2012, your New Generation iB Secure Device can be used to offer a more secure authentication procedure for certain online transactions known as Transaction Signing.
- What are the new features that are available?
Besides offering additional protection for your high value transactions via Transaction Signing, we are introducing a series of other changes driven by customer feedback – all to make online banking easier and more convenient, yet more secure for you.
You will now be able to login and access basic account information like account balances with only the entry of your User ID and PIN. As you progress in your transaction, additional authentication may be required - all depending on the type of transaction.
For simpler 'low-risk' enquiries and transactions, all you need is an OTP delivered via your mobile. For other transactions that are deemed of 'higher-risk', the use of your new iB Secure Device will be required. This in turn provides you with the ability to transact at higher values than previously permissible.
- Why I was not prompted to enter OTP after entering my iB User ID and PIN?
Changes have been made to make it easier and more convenient to transact on iBanking. To provide you quick and easy access to your basic account information, you now just need to login using your User ID and PIN.
- I do not want a quick access to my account balances. It is not secure.
The security of your account and your peace of mind is of utmost importance to us. We have therefore taken measures to ensure that your account is protected.
Sensitive personal account information like your name and account number is either withheld or appears partially masked. No transactions can be carried out without the entry of 2FA.
- We are now able to access DBS iBanking with SMS?
Yes, you are now able to conveniently perform selected services such as Transaction History and low value fund transfers and bill payment conveniently using the iBanking OTP that is sent to your registered mobile phone.
To allow us to direct the SMS to the correct phone number, please ensure that you register your mobile phone number with us at the earliest. Registration may be done at either any of our ATMs, or by completing the form found here.
The New Generation iB Secure Device
- Why is DBS introducing this New Generation iB Secure Device?
This New Generation IB Secure Device is part of the financial industry-wide initiative for an even safer online banking experience. This device has stronger authentication capabilities and provides you an extra layer of security against potential fraudulent activities and threats.
- Why are there so many buttons on this device, when I need to use only one?
The remaining buttons enables us to progressively offer you new and improved features – for your greater online banking convenience. These additional features will be offered in a phased manner over the next few months.
- When will I receive my new device?
The Bank is sending our customers the new iB Secure Device in phases. We will complete this exercise by 31 December 2012. If you have yet to receive the new iB Secure Device, please call our Customer Service Hotline at (65) 6327 2265 or visit any DB/POSB branch to get a new device.
- This is a rather "bulky" device. Can I request for the previous version of the device instead of this one?
We regret to inform you that we are not able to accede to your request. From July 2012 onwards, the bank will be replacing the old device with this latest version of the DBS iBanking Secure Device for all our customers.
- Will my existing iB Secure Device be deactivated immediately once I received the new iB Secure Device?
Your existing iB Secure Device will only be deactivated after you have registered your new iB Secure Device.
- I find the buttons difficult to press.
The buttons does not require pressing with force, but to gently "press and hold" in order to generate a dynamic iB Secure PIN.
- What is the lifespan of the new device?
The lifespan of this device is dependent on the battery contained in it which is between 5 to 7 years and the frequency of usage.
- Is this device water-resistant?
Yes, the device is water-resistant but not waterproof. To avoid potential malfunctioning, please do not submerge your new device in water.
- Is there a device replacement fee?
As with the current device, the device replacement fee is S$20 nett.
How to Register
- I have received my new iB Secure Device, when must I register?
Please register your new iB Secure Device immediately.
- How do I register my new iB Secure Device?
- Login to DBS iBanking with your existing User ID, PIN and the 6-digit Secure PIN from your existing (old) device.
- Click on 'Register Now' button when shown a prompting page.
- Follow the simple on-screen instructions.
To complete the above registration, you will need:
1) Registration Code found in the letter accompanying the new device
2) Serial Number found at the back of your new IB Secure Device device and
3) A dynamic iB Secure PIN generated by your new iB Secure Device.
After you successfully register your new iB Secure Device, your old device will be automatically deactivated. Please dispose the old device.
- I have lost my old device. How can I register?
Please call our Customer Service Hotline at (65) 6327 2265 or visit any DB/POSB branch to report the loss of your device. The New IB Secure Device will be sent as a replacement.
- I lost/threw away the letter that came with my device and I do not have the Registration Code. What do I do now?
Please call our Customer Service Hotline at (65) 6327 2265 to request for a new Registration Code.
- What happens if the iB Secure PIN generated by the device is not accepted when I attempt to log in to my account or performing transactions?
This new device is a sensitive electronic device that can be affected by many factors including temperature fluctuations, humidity, and undue stress. This may lead to the device to temporarily de-synchronize, causing the iB Secure PIN to be rejected by our system.
Should this happen, simply press the DBS logo button again to generate the next consecutive iB Secure PIN, which can then be used to re-attempt login.