Important Message for Non-Singapore residents

Restrictions on product access for retail investors residing in the EEA/UKDue to the regulatory requirements of the European Union, certain products offered by DBS will not be available to retail investors who are residents (regardless of nationality) in the European Economic Area (EEA)¹ and UK. If you are resident in the EEA or UK, please read this section carefully before proceeding with any transaction.The regulation on key information documents (KIDs) for packaged retail and insurance-based investment products (Regulation (EU) No. 1286/2014, commonly referred to as the PRIIPs Regulation) came into effect on 1 January 2018. Due to the PRIIPs Regulation, DBS is currently unable to offer structured notes and other products falling within the scope of the PRIIPs Regulation to retail investors resident in the EEA or UK.A retail investor is defined as a client who does not meet the criteria to qualify as a professional client. Such criteria are set out in Annex II of Directive 2014/65/EU (commonly referred to as MiFID II)². Please note that this is different from the “professional investor” and “accredited investor” criteria applicable in Hong Kong and Singapore respectively. For clients whose beneficial owners are resident in the EEA or UK, by default, we have classified them as retail investors.The PRIIPs Regulation obliges DBS, when advising on or selling a Packaged Retail and Insurance-based Investment Product (PRIIP)³ to a retail investor resident in the EEA or UK, to provide such investor with a pre-contractual product disclosure document in the form of a KID, unless the investor is a professional client. KIDs will not be available for any of the structured notes or products (regardless of issuer) on our product platform unless our product manufacturer informs us otherwise. As such, until further notice, DBS will not be able to avail PRIIP products⁴to retail clients resident in the EEA or UK⁴, unless the investor is a professional client.

For EEA or UK clients who had before the relevant effective date acquired PRIIP products through us, they may continue to hold and/or sell these products in or through their DBS accounts. We encourage our clients to speak to their Relationship Manager to better understand their options and address their queries. For more information on the PRIIPs Regulation, please visit the European Commission website at go.dbs.com/priips.¹ EEA countries (as of November 2022): Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, *Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden. The United Kingdom is no longer an EEA country as of 31 Jan 2020 but the UK has onshored the PRIIPs Regulation under its domestic regulations, so principles of PRIIPs Regulation continue to apply after Brexit (until further update). For more details on application of PRIIPs Regulation in the UK, see https://www.gov.uk/government/publications/draft-packaged-retail-and-insurance-based-investment-products-amendment-eu-exit-regulations-2019/packaged-retail-and-insurance-based-investment-products-amendment-eu-exit-regulations-2019-explanatory-information.
*Gibraltar is not an EEA country but implements EEA/ PRIIPs regulation due to some form of special status.
² http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32014L0065
³ A PRIIP is any investment where the amount repayable to the investor is subject to fluctuations because of exposure to reference values or to the performance of one or more assets which are not directly purchased by the investor. PRIIPs will include investment products such as investment funds, life insurance policies with an investment element, structured products and structured deposits. With effect from 1 January 2023, UCITS (i.e. Undertakings for Collective Investment in Transferable Securities) will be classified as a PRIIP product, after the exemption from providing a KID under the PRIIPs Regulation for UCITS ends on 31 December 2022 for EEA countries. The UCIT exemption for the UK will end on 31 December 2026: https://www.gov.uk/government/news/announcement-hm-treasury-to-extend-priips-exemption-for-ucits-funds-for-five-years
⁴ UK residents who are DBS Wealth clients, i.e. Private Bank (PB), Treasures Private Client (TPC) and Treasures, may continue to purchase of UCITs unit trusts and UCITs-exchange traded funds online via digiWealth until the UCIT exemption for the UK ends on 31 Dec 2026. DBS PB and TPC UK resident clients may refer to their relationship managers for purchase of UCITs unit trusts and UCITs-exchange traded funds.

Clients Residing in Australia - Limitations to Banking Services and Investment OfferingsLimitations had been imposed on banking services and investment offerings availed by DBS Bank Ltd (“the Bank” or “DBS”) to DBS Personal Banking and Treasures Clients (collectively known as “Retail Clients”) whose registered residential address is an Australian address. Only DBS Private Bank Clients (PB) and Treasures Private Clients (TPC) who are Accredited Investors with a valid Wholesale Client Certification are not affected by these limitations.All Retail Clients with an Australian residential address with us are subject to the limitations. For more details on the limitations in banking services and investment offerings, please refer to FAQs.

Frequently Asked Questions

How will my accounts be affected?

Limitations (see table) have been imposed on the following banking services and investment offerings that DBS avails to Retail Clients whose registered residential address is an Australian address. Only DBS Private Bank Clients (PB) and Treasures Private Clients (TPC) with a valid Wholesale Client Certification are not affected by these limitations.

No.	Banking Services / Investment Offerings	Limitations
1	Deposits	Account transactions such as incoming and outgoing transfers may continue No new account may be opened No top-up of existing fixed deposits Rollover of fixed deposits at prevailing rates before maturity is permitted Funds may not be used to purchase new investment products
2	Investments	Clients may continue to hold existing investment holdings Subscription pursuant to a corporate action arising from existing holdings is permitted Redemption or sale of existing investment is permitted No new holdings or transfer-in of investment products Existing Regular Savings Plan account will be terminated.
3	Singapore Government Schemes Supplementary Retirement Scheme (SRS) Central Provident Fund Investment Scheme (CPFIS)	Clients may continue with existing holdings in SRS/CPFIS accounts No opening of new SRS/CPFIS accounts No top up for existing accounts No new application on existing accounts
4	Others Credit Facilities for investments or trading DBS digibank Online Online Alerts and Notification Set-Up	Clients may continue with existing credit facilities No refinancing or increase in credit limits No new credit facilities for investment or trading purposes DBS digibank Online (Internet Banking) will be discontinued (Only DBS digibank mobile banking on our DBS digibank app will be available) Alerts and notifications are set-up via DBS digibank Online (Internet Banking) only.

*Wholesale Client Certification
(a) Net assets of at least A$2.5 million OR
(b) a gross income for each of the last two financial years of at least A$250,000 per year.
AND certified by a qualified accountant.

I have a Wholesale Client Certification. Will I be subjected to the limitations?

If you are a DBS Private Bank client (PB) or a DBS Treasures Private Client (TPC) with a valid Wholesale Client Certification, you are not affected by the limitations, even if your registered residential address is an Australian address.

I have a valid Wholesale Client Certification. Can I continue to purchase new investments?

If you are a DBS Private Bank client (PB) or a DBS Treasures Private Client (TPC) with a valid Wholesale Client Certification, you may continue to trade using your Wealth account.

Will the limitations affect joint account holder(s) whose registered residential address is outside Australia?

No. The limitations only apply to account holder(s) whose registered residential address is in Australia.

Will these limitations affect corporate accounts?

Entities which are incorporated in Australia will be affected by the limitations abovementioned, even if the instructions/orders are given by an authorized signatory who resides outside Australia.

For entities which are not incorporated in Australia, the limitations only apply if control (e.g. directors or authorised signatories) is exercised by Australian residents. Under Australia’s Corporations Act 2001, “Control” in general, means having the capacity to determine the outcome of decisions about the entity’s financial and operating policies.

What should I do with my existing investments if I do not hold a valid Wholesale Client Certification?

You may hold or liquidate your existing investment. However, you will not be able to purchase any new investments.

Will dividends and coupons received from my existing investment(s) be credited to my account?

Yes, all dividends and coupons will be credited to your existing account.

I am a Singapore Citizen / Permanent Resident whose residential address is in Australia. Can I open an SRS account or trade using my CPF Investment Scheme/SRS Account funds?

You will be able to maintain your existing CPFIS/SRS accounts. However, no top up and no new application will be permitted.

Will I be able to perform Foreign Exchange (FX) transactions?

FX spot transactions, for the purpose of online purchases and remittances will not be affected by the limitations abovementioned. However, FX contracts for investment or trading purposes are affected by these limitations.

Will I be able to use DBS digibank Online and DBS digibank Mobile?

Clients with a registered residential address in Australia will only be able to access our DBS digibank Mobile. Access to DBS digibank Online (Internet Banking) had been discontinued. To ensure seamless mobile banking convenience for the limited offerings, please download the DBS digibank Mobile app.

All existing account alerts and notifications remain unchanged.

How do I apply for the DBS digibank Mobile?

To set up your digibank mobile account, visit https://go.dbs.com/sg-digibanksetup

Wealth Management clients please visit https://www.dbs.com.sg/personal/support/wealth-iwealth-application.html

How do I sell or redeem my Singapore Government Securities?

Sale/Redemption of:	Cash	SRS
SGS Bonds	Via any DBS/POSB Branch/Relationship Manager
T-bills	Via any DBS/POSB Branch/Relationship Manager
SSB	Via ATM	Via any DBS/POSB Branch/Relationship Manager

Please contact our Customer Service Centre or your Relationship Manager and we will assist you with the sale of SGS Bonds / T-bills and redemption of SSB using SRS.

If you prefer to sell or redeem Singapore Savings Bonds in cash, this option is only available via digibank Mobile.

Australia Wholesale Client Certification (Applicable only for DBS Private Bank Clients (PB) and Treasures Private Client (TPC))Certain products and services offered by DBS may only be made available to Wholesale Clients in Australia. For more information on Wholesale Client Certification, please refer to the FAQs.

Frequently Asked Questions

How do I/We qualify for Wholesale Client status?

DBS Bank Ltd¹ may, in its discretion, only offer certain products and services to Australia residents who are Wholesale Clients.

A valid certification by a qualified accountant certifying you qualify for wholesale client status as follows:

Qualification for Wholesale Client Status
(a) net assets of at least A$2.5 million, or
(b) a gross income for each of the last two financial years of at least A$250,000 per year.

For entities incorporated in Australia, DBS Bank Ltd may only offer certain products and services if the entity qualifies as a Wholesale Client or Professional Investor² .

¹We would like to inform you that where DBS Bank Ltd. (the “Bank”) provides financial services in Australia to wholesale clients, the Bank will be acting from its Head Office in Singapore (“DBS Bank Singapore”) which is exempt from the requirement to hold an Australian financial services licence under the Corporations Act 2001 of Australia.
DBS Bank Singapore is regulated by the Monetary Authority of Singapore under the laws of Singapore, which differ from Australian laws. DBS Bank Singapore holds a banking licence and is an Exempt Capital Market Service License holder as defined in the Securities & Futures Act (Chapter 289 of Singapore) and an Exempt Financial Adviser as defined in the Financial Advisers Act (Chapter 110 of Singapore).

² Professional Investor is defined in Section 9 of the Corporations Act as a person who has or controls gross assets of at least AUD$10m (including any assets held by an associate or under a trust that the person manages. For assessment of professional investor, Company will be required to provide proof of assets.

What supporting documents should I/We submit to be eligible as a Wholesale Client?

A qualified accountant’s certificate stating either;

(a) net assets of at least A$2.5million or
(b) a gross income for each of the last two financial years of at least A$250,000 per year.

The certificate is valid for two years from the date of the certification.

What happens if I/We do not submit the Wholesale Client Certificate?

DBS Bank Ltd will not be able to make available new or additional products/services to you. However, we shall continue to provide services to you for the existing product holdings.

If I have a joint account, do all my joint account holders need to complete/submit the Wholesale Client Certificate?

Yes, each individual client (only for DBS Private Bank Clients (PB) and Treasures Private Clients (TPC)) who resides in Australia will be required to complete and submit the Wholesale Client Certificate.

Will the product restrictions apply to joint account holder who resides in Singapore?

No, the joint account holder who is residing in Singapore may continue to transact in any products.

How will I know if my request has been processed?

DBS may take approximately 3-5 days to process your request. We will notify you once your request has been processed and your status has been updated in our records.

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