digiVault — your personal bank vault against scammers

How digiVault Account works

Simply set up a digiVault account on your digibank app. Once you receive a notification from us that your digiVault is ready, you may deposit money in your digiVault Account anytime to secure your savings.

How much should I put in my digiVault Account?

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

Before transferring money into your digiVault Account, check the terms and conditions on your existing bank account and ensure you can maintain any minimum average daily balance to avoid being 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 Account, 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.

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 Account. 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.

digiVault helps lock 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 now lock any amount of funds in your existing Current and/or Savings Accounts by typing "Lock my savings" in digibot

It is the balance in your account available for spending, withdrawal or transfers. It shows how much you can lock with digiVault. Your available balance does not include any:

• Previous amounts you may have locked with digiVault
• Funds set aside for Debit Card spending
• Promotional Fixed Deposits that you may have signed up for
• Other transactions such as cheque deposits.

No, you can apply to lock any available funds in your existing Current and/or Savings Accounts by typing "Lock my savings" in digibot.

You will continue to enjoy all the benefits of your existing account.

Your locked funds will be protected from scammers gaining digital access and at the same time continue to enjoy the account benefits. However, certain transactions such as fees for unsuccessful GIRO deductions and SimplyGo payments may still be deducted if needed.

You can lock any amount but do keep enough available balance to avoid late fees and charges as you will not be able to access your locked funds until you release them.

• New or existing payment arrangements (e.g. GIRO, standing instructions or future-dated transfers)
• Transfers to another DBS/POSB account
• Transfers to another bank’s account (e.g. local and overseas transfers)
• Bill or credit card payments
• Fixed deposit placements or investments
• Insurance purchases or payments
• Loan or tax repayments
• ATM withdrawals or transfers

There are 3 ways to do so. You can:

1. Refer to the email notification we sent to you once locking was successful.
2. Or you can call our hotline for assistance.
3. Or you can check your digibank app. Go to the account where you have locked savings and tap on it to show details:
1. Look out for Earmarked Funds. Tap on it and refer to Others. This amount shows what you have locked, but it may include any pending debit card transactions or promotional Fixed Deposits that you may have signed up for.
   
   Example: $10,000 = Your locked amount + pending Debit Card spending
   
   
2. If you do not see Earmarked Funds under your account details, simply deduct the Available Balance from your Total Balance
   
   Example: Total Balance $100,000 - Available Balance $10,000 = $90,000. This amount shows what you have locked, including any pending debit card transactions or promotional Fixed Deposits that you may have signed up for.
   
   

You can go to your digibank app. Go to the account where you have locked savings and under your account details, look for Available Balance. This is the amount available for you to spend, withdraw or transfer. Available balance does not include any pending debit card transactions and/or promotional Fixed Deposits that you may have signed up for.

If you would like to know how much you have locked, you can refer to:

• The notification email we send to you once locking is successful. Or you can call our hotline for assistance.

digiVault lets you decide how you wish to protect your money. A digiVault Account is a separate locked account that auto-locks all the funds you deposit. While locking savings in an existing account means you can choose any amount inside that account to lock. The first way separates your spending with a dedicated savings account. While the latter allows you to keep spending from your existing account, depending on how much you lock.

Both ways give your savings extra protection, so it’s up to you.

Yes, you can transfer funds from your digiVault Account to any existing accounts and lock it.

To ensure that your locked funds are moved securely, you will need to visit the nearest branch or call us for assistance. The process will take 2 working days.

Yes, you can lock funds in your Joint-Alternate Current and/or Savings Account.

Joint-ALL account funds are not eligible for locking, as they are already protected against digital transactions.

To unlock funds for Joint-Alternate Accounts, only ONE account holder needs to visit any of our branches in Singapore to verify their identity and unlock the funds.

Yes, you can still lock funds in such an account. But any amount you lock cannot be used until you unlock them. We recommend that you set aside enough funds for your investments, trading or settlements before locking.

You can visit any of our branches in Singapore to verify your identity, unlock and transfer funds into your personal account before you close your account. Please refer to our Help & Support page for more information to close a deposit account.

You may apply to lock any amount of funds in your existing Joint-Alternate Current and/or Savings Accounts by typing "Lock my savings" in digibot.

Your account may not be eligible. The following accounts are not available for locking:

• Joint-All Accounts
• Trust Accounts such as POSBKids Trust Account and POSB Child Development Account (CDA)
• Foreign Currency Current Accounts
• Multi-Currency Settlement Accounts
• Supplementary Retirement Scheme Accounts (SRS)

No, you can apply to lock your Current and/or Savings Account without opening a digiVault Account.

In view of the rise in scam volume over the years, we have reviewed our Fixed Deposits feature to help you safeguard your assets with us. From 02 September 2024, all Fixed Deposit placements done over the counter will automatically be placed under digiVault protection, unless you inform us otherwise at the point of transaction. This is as an added layer of security against scammers by preventing unauthorised digital withdrawals from your Fixed Deposit placements during your tenor.

It will follow the maturity instruction that you have set when placing the Fixed Deposit, with one exception*.

Upon maturity, if your maturity instruction is to:

• Rollover Principal and Interest: Principal amount and Interest will rollover and stay locked.
• Rollover Principal and Withdraw Interest: Principal amount will rollover and stay locked, while the interest will be credited to your designated account on the date of maturity.
• Withdraw Principal and interest to your designated account: Principal amount and Interest will be credited to your designated account.

^*If you have a locked placement maturing before 16 September 2024, and its maturity instruction is to Withdraw Principal and Interest, upon maturity, the Principal amount will rollover and stay locked, while the interest will be credited to your designated account.

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

You may refer to your Monthly Consolidated Statement. A locked placement will have a description that says "OTHERS“ or “PROTECTED BY DIGIVAULT”.

For Joint-Alternate Fixed Deposit accounts: You may lock it with digibot, just like any other Fixed Deposit placement.

For Joint-ALL Fixed Deposit accounts: They are not eligible for locking as they are already protected against digital premature withdrawals.

Yes, you need to have an existing Fixed Deposit placement to lock before you proceed to lock it with digibot.

No, you can apply to lock your Fixed Deposits without opening a digiVault Account.

Yes, the DI Scheme covers Singapore dollar denominated deposits placed with a DI Scheme member in any of its branches in Singapore including deposit held in a savings account and deposit held in a fixed deposit account.

You can do so using our digibank app.

You can set up digiVault Account via the digibank app and deposit funds.

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

digiVault Account 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 paper statements, there will be a S$2 service fee per statement.

digiVault Account is a My Account with all its same benefits, you will earn interest at prevailing rates.

Alternatively, you can lock any amount of funds in your existing Current and/or Savings Accounts if you wish to continue to enjoy all the benefits of your existing account by typing "Lock my savings" in digibot.

Yes, you can have more than 1 digiVault. As digiVault Account is a 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.

You will need to visit any of our branches in Singapore to verify your identity, transfer funds from your digiVault into your personal account before you close your digiVault Account. This forms another layer of protection for your money that is locked in digiVault.

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.

Please call our hotline for assistance.

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

You can visit any of our branches to verify your identity to unlock your funds. The request may take up to 2 working day to be processed.

Any ONE account holder needs to visit any of our branches in Singapore to verify their identity and unlock the funds.

1. Always ensure you only use the DBS digibank app or DBS digibot to set up or deposit funds into digiVault.
2. Look out for official emails from us that inform you of whether your requests to lock or unlock your money are successful.
1. DBS will not send you login/invitation links in our official SMSes and email.
2. 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.
3. Do not call phone numbers, click on URL links, or scan QR codes in unsolicited emails, SMS, or other Messaging Application messages.
4. Always verify the authenticity of the message with the official websites or sources.
5. 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.