At a Glance

Enhanced protection against scams

Locked digitally, unlocked physically.

Two hassle-free options to lock up your funds​

Open a new account, or put your Fixed Deposit under digiVault protection.

Additional fees? None.

Enjoy added protection with no extra charges

Set Up Now

 

What is digiVault

digiVault locks your money digitally, giving you added security like a physical vault. With digiVault, you can set up for a digiVault account or place your Fixed Deposit under digiVault protection.

digiVault Account is a My Account with added security. Funds deposited in digiVault cannot be digitally transferred out.


You can place your existing Fixed Deposit (FD) accounts under digiVault protection and lock up your funds. This prevents premature digital fund withdrawals or changes to maturity instructions for enhanced security.

 

Choose digiVault if…​

  • You are security conscious and want even more protection for your savings against scammers.
  • You are not using the money for daily expenses, investments or trading.​
 

How digiVault works?​

Simply set up for digiVault account via digibank app. Once you receive notification from us that your digiVault is ready, you may put funds in anytime to secure your savings in your digiVault.​

How much should I put in my digiVault?​

Assess your preference for additional security over convenience. We recommend putting funds in this account that are not used for your day-to-day spending or routine payments. This includes Investments, Trading, Settlement accounts, Insurance premiums and Loan repayments.​

Before transferring funds to your digiVault, check the terms and conditions on your existing bank account as you may have to maintain a minimum average daily balance before you are charged a fall-below fee.​

Here are two scenarios where you might use digiVault​

Scenario 1​

I want to set aside and secure a part of my extra savings.



You may consider putting up to $10,000 in your digiVault, as your monthly income is able to cover your regular monthly expenditure. When the annual insurance premium is due, schedule a time to visit your nearest DBS/POSB branch in Singapore to transfer that amount into an existing DBS/POSB account for the payment.​



Scenario 2

I want to set aside and secure a part of my important life expenditure.



You may consider putting up to $100,000 in your digiVault. When the education fees are due, schedule a time to visit your nearest DBS/POSB branch in Singapore to transfer that amount into an existing DBS/POSB account for the payment.​

Promotion​

As a welcome bonus, deposits up to S$50,000 in your digiVault will earn 1.80% p.a. for 3 months when you open a digiVault Account by 29 Feb 2024. Terms and conditions apply. For more information, please refer to our Promotion FAQs.

 

How digiVault protection for Fixed Deposits works​

You can request to lock your fixed deposit account through digibot (our chatbot on the bottom right of your screen) by entering the keywords "Fixed Deposit Lock“. We will process it within 2 working days. Once successfully locked, you will receive an email notification from us.

 

How to access locked funds​

You need to verify your identity in person at a DBS/POSB branch in Singapore to access your funds in your digiVault Account or unlock your fixed deposits. For unlocking of fixed deposits, it may take up to 1 working day to be processed. 

 

How to set up digiVault​

*You can apply for digiVault on your digibank app, from 8am to 8pm daily.​

 

Frequently Asked Questions​

Yes, digiVault is protected under SDIC as digiVault is an My Account with the added security of a physical vault.


You can do so using our digibank app.


You can apply for a digiVault via the digibank app and deposit funds.​

Log in to your digibank app, tap on ‘More’ followed by ‘Apply’ and tap on ‘digiVault’.​


digiVault helps secure your funds in a designated account that works similarly to a physical vault, where access can only be allowed upon verification of your identity — the funds in the account are locked away and will give you peace of mind as it cannot be accessed digitally. This helps protect the funds from scammers performing fraudulent digital transfers.


You can visit any of our branches in Singapore to verify your identity, transfer funds from your digiVault into your personal account.

For DBS Treasures, DBS Treasures Private Client or DBS Private Bank clients, you may visit your respective centres on top of the DBS/POSB branches in Singapore.​


You may call our call centre for assistance. We will perform checks to verify your identity before we can help you access your funds in digiVault.

For DBS Treasures, DBS Treasures Private Client or DBS Private Bank clients, you may also contact your Relationship Managers.


digiVault is a My Account with the added security of a physical vault. Enjoy My Account benefits with zero service charge and no minimum balance required

Exceptions: If you request for paper statements, there will be an SGD 2 service fee per statement.


As long as you are a DBS/POSB customer with an existing DBS/POSB Current or Savings Account. You can open digiVault instantly with digibank app.


Yes, you can have more than 1 digiVault. As digiVault is an My Account with the added security of a physical vault, we allow our customers to have up to 5 My Accounts, including those used as a digiVault account.

You will need to close one of your existing My Account if you already have 5 My Accounts. You can do so via digibank online or visit the nearest branch if you are unable to do so.


digiVault is not applicable to Joint Accounts.​


You may not be on the latest version of our mobile app. Please update your digibank app to apply for digiVault.​​


No, you can apply to lock your Fixed Deposits by typing "Fixed Deposit lock" in digibot.


These deposits are already protected against digital premature withdrawals.


Digital premature withdrawal and changing of maturity instructions will be blocked.​

If your maturity instruction is to withdraw Principal and Interest, only the interest will be credited to the designated account. The principal amount will be renewed at the prevailing board rates upon maturity.


You can visit any of our branches to verify your identity to unlock your Fixed Deposit. The request may take up to 1 working day to be processed.


Your request may be unsuccessful due to one of the following reasons. You may refer to your email for more details.

  1. Duplicate requests
    The Fixed Deposit placements in the selected Fixed Deposit account are already locked under digiVault protection.
  2. Ineligible accounts
    These Fixed Deposit accounts are not eligible for locking:
    Trust Fixed Deposits, Corporate Fixed Deposits, Executor and Administrator Fixed Deposits, Time Deposits (Wealth Portfolio) and accounts with Fixed Deposit placements which had been earmarked for other purposes (e.g. secured credit card).
  3. No active placements
    With no active Fixed Deposit placements in the selected Fixed Deposit account, we were not able process the request to lock. Once you have successfully made your Fixed Deposit placements, you may submit a new request to lock the Fixed Deposits in your selected account.
  4. Your joint account holder does not have a registered email address
    For Joint-All Fixed Deposit accounts, you will need to ensure that every account holder has updated their email address with us.
    Once your joint account holders have updated their email address, you may submit a new request to lock your Fixed Deposits.

Always ensure you only use the DBS digibank app to set up or deposit funds into digiVault.​

To apply for digiVault, customers will need to locate the ‘digiVault’ button found under the ‘Apply’ section on the “more” tab in the digibank app. You will receive a push notification in digibank to inform you when your digiVault is ready, after which you can start to deposit funds in it.​

Please refer to Set Up Now on how to securely set up / deposit funds into digiVault.

  • DBS will not send you login/invitation links in our official SMSes and email.​
  • DBS staff will never ask you for your credit card details, CVV, SMS or email OTPs, or Digital Token approvals to verify or unlock your account.​
  • Do not call phone numbers, click on URL links, or scan QR codes in unsolicited emails, SMS, or other Messaging Application messages.​
  • Always verify the authenticity of the message with the official websites or sources.​
  • Never disclose your card numbers or OTPs to unverified sources. Bank staff and government officials will never request your card details, OTPs, or Digital Token Approvals through SMS, voice calls, or unofficial websites.​

Note:

  • Please update your digibank app to the latest version to use the digiVault feature.
  • digiVault is an My Account with the added security of a physical vault and it is protected under SDIC.


Deposit Insurance Scheme​

Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$75,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.​

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