Cooling Period for selected digibank transactions

We're constantly enhancing our security measures to keep your account safe from the rising threat of scams.

Important information

A 12-hour cooling period will be progressively implemented for the following selected digital banking services, such as:
- Adding a new transfer recipient
- Increasing daily local & overseas transfer limits
- Updating contact details (email, mobile number)
With this 12-hour cooling period, it gives you a window to detect and report any suspicious activity if anyone tries to make unauthorised changes to your account.
You will be able to transfer funds to the new transfer recipient or up to your new transfer limits, only after the cooling period is over.
For application of new banking products and services, you may wish to proceed after the cooling period is over so that updated contact and address details will be reflected.

Here are some tips for seamless banking

Pre-plan your transfers
If you anticipate needing to add a new transfer recipient, or increase your limits, do so at least a day in advance.

Note: In line with MAS and IMDA’s Shared Responsibility Framework, we are constantly enhancing our fraud monitoring system to safeguard your savings more effectively. Keeping your money safe against scams is our top priority. Some transactions may be delayed by up to 24 hours, allowing you time to cancel the transfer if it is unauthorised. We appreciate your understanding and encourage you to plan your payments in advance to avoid any disruptions.

Review your limits regularly

Keep your transfer limits low to minimise potential losses in case of unauthorised access.

Keep your contact and address details updated

Your contact and address details are essential as they allow us to communicate important information and send you alerts on unauthorised transactions via letter, SMS or email. Please update your details timely to ensure you receive these timely alerts.

Frequently Asked Questions

Why do I need to wait 12 hours before my transactions take effect?

Keeping your money safe against scams is our top priority. The 12-hour cooling period is a critical security feature designed to give you time to detect and stop unauthorised activity on your account. For instance, if a scammer attempts to add a new transfer recipient or increase your transfer limits, transfers to new recipients or transactions above your existing limits will only be allowed after the 12-hour cooling period has ended. During this time, alerts will be sent to your bank registered contact details so you can review the request and report it immediately if it was not made by you.

Can I opt out of this security feature?

No. With the rise in scams, this is a regulatory security feature that has been put in place to safeguard your banking accounts and monies.

What activities will trigger a 12-hour cooling period?

You will experience the 12-hour cooling period whenever you increase your transfer limits, add a new transfer recipient or update your contact details.

These are in addition to the existing 12-hour cooling period for Digital Token setup.

Alerts in the form of SMS, email and push notifications will be sent to your existing bank registered email address and mobile number upon request submission. If you receive an alert regarding a transfer limit increase, recipient addition, or contact detail update but did not perform the request, kindly contact our Customer Centre immediately.

Increasing your transfer limit

New request to increase limits from existing transfer limit
Request to increase transfer limit during the 12-hour cooling period: If you have a pending request to increase your limit, any new requests to increase your transfer limit beyond your existing transfer limit will override your pending request. The new transfer limit will only take effect after 12 hours.

Adding of new transfer recipients
You will experience the 12-hour cooling period whenever you add a new local or overseas transfer recipient.

Updating of contact details (email address and mobile number)
You will experience the 12-hour cooling period whenever you update your contact details. Notifications and One-Time Passwords (OTPs) will be sent to your current contact details until your details are updated after 12 hours.

New request to update your contact details (email address and mobile number)
Request to update your contact details (email address and mobile number) during the 12-hour cooling period: If you have a pending request to update your contact details, any new requests to update your contact details will override your pending request. The new contact details will only take effect after 12 hours from the latest request.

Would I be able to perform transfers on digibank app / digibank online during the 12-hour cooling period?

Yes, you can still perform transfers that are within your existing transfer limits during this period.

What should I do if I need to perform an urgent transfer above my existing limit during the cooling period?

If you need to make a transfer above your limit immediately, you can visit any DBS/POSB branch during operating hours in person to perform the transaction over the counter.

What happens if I want to increase my limit again during the cooling period?

If you have a pending request to increase your limit, any new requests to increase your transfer limit will override your pending request. The new transfer limit will only take effect after 12 hours.

However, if you request to reduce your existing transfer limits, it will take effect immediately.

What happens if I want to decrease my limit during the cooling period?

Your request to reduce your existing transfer limits will take effect immediately and your pending limit increase request will be cancelled.

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