dbs deposit bag

Deposit Bag

Tamper-proof and secure, anytime

Deposit Bag

Tamper-proof and secure, anytime

Important Notice:
The Electronic Deposit Slip service will no longer be available from 31 March 2021. To track the status of your cash deposit bags, please retain the customer’s copy of the deposit slip for your own reference and only insert the bank’s copy into the cash deposit bag. You can verify the amount against your IDEAL statement within 2 business days. Reduce your company’s cash handling and consider adopting digital solutions such as PayNow Corporate or DBS MAX, a collections solution for merchants’.

At a Glance
Save time and deposit cash or cheques in tamper-proof bags.
orange bar code scan icon

Unique

Each bag comes with a unique serial number for easy tracking

Sealed

Sealed

Prevent the unauthorised removal of bag contents once sealed

Accessible

Accessible

Deposit at DBS branches all over Singapore

Features & Benefits
security

Added security

Each bag is tamper-proof and carries a unique serial number for easy tracking.

convenient icon

Greater convenience

Deposit your cash and cheques at DBS branches all over Singapore

fast issuance bankers guarantee DBS

Save time

Avoid the queues when you deposit your cash and cheques

How To Apply for Cash Deposit Service
  1. Register for PayNow Corporate and link your DBS corporate account to your PayNow proxy (UEN + Suffix). Find out more about PayNow Corporate here.  
  2. Sign up for Deposit Bag service via your Relationship Manager or submit the Application Form to one of the DBS/POSB Branch listed here. Please indicate your company’s PayNow proxy (UEN + Suffix) on the form. 
  3. Collect your Cash Deposit Bags and Cash Deposit Slips from one of the DBS/POSB Branch listed here to begin using them at your premises! Do kindly note that bags are subject to the individual branch stock availability. 
Download PDF
Cash Deposit Bag Application Form
Cheque Deposit Bag Application Form
Pricing Guide
Where can I drop off the Cash Deposit Bag

You may drop off your Cash Deposit Bag at the Cash Bag Deposit Machine at any of these DBS/POSB branches:

DBS/POSB Branches with Cash Bag Deposit Machine
DBS Ang Mo Kio Central POSB Paya Lebar
DBS Bishan DBS Plaza Singapura
POSB Bukit Batok Central DBS South Bridge
DBS Bukit Timah DBS Suntec City
POSB Compass One DBS Century Square
DBS Choa Chu Kang DBS Takashimaya*
DBS Clementi POSB Tiong Bahru
DBS HarbourFront DBS Thomson
DBS Holland Village DBS Toa Payoh
POSB Hougang Central DBS Towner Road
POSB Jurong Point POSB Waterway Point
DBS Kovan POSB Whitesands
DBS Marina Bay Financial Centre DBS Westgate
DBS Parkway Parade DBS Woodlands
POSB Square 2 Branch  

 

* Cash deposit bag application and cash deposit bag collection are not available here. 

Frequently Asked Questions

How To Deposit Cash?
  1. Ensure you have a Cash Deposit Bag and an accompanying Cash Deposit Slip 
  2. Head to one of the DBS/POSB Branch listed here
  3. Complete the Cash Deposit Slip with all required fields. Your PayNow proxy (UEN + Suffix) is mandatory.
  4. Load the Cash Deposit Bag with (A) cash and (B) completed Cash Deposit Slip 
  5. Tear off the receipt on the Cash Deposit Bag, remove the tape and press down the adhesive to securely seal the Cash Deposit Bag 
  6. Proceed to the Cash Deposit Machine, enter your contact number and place the sealed Cash Deposit Bag into the Cash Deposit Machine 
  7. Cash Deposit Machine will start to scan the Cash Deposit Bag barcode 
  8. Upon successful scanning of barcode, collect your customer acknowledgement receipt 
  9. Funds will be credited to your PayNow proxy (UEN + Suffix) registered bank account within 2 working days
When will I receive my funds?

Drop off your Cash Deposit Bags before 4.30pm (weekdays) or 1pm (Saturdays) to receive funds within 2 business days. Drop off your Cheque Deposit Bags before 3.30pm (weekdays) to receive the funds after 2pm the next clearing day.
Will I receive an acknowledgement slip?

Receipts will be issued for Cash Deposit Bags deposited into the Cash Deposit Bag Machines. The receipt will contain the unique serial number of the bag and the date/time of the deposit. All deposits are subject to the bank count before cash is credited to your account.

Our staff will stamp and sign a detachable flap on the Cheque Deposit Bags. This flap is an acknowledgement of receipt and bears the bag’s unique serial number for tracking.
How do I know my funds are safe?

Deposit Bags are tamper-proof and locked up at our premises. They are opened under supervision or in front of a CCTV camera.
How do I check the status of my cash deposit bags?

The funds deposited via the cash deposit bag will be credited within 2 business days and reflected on your IDEAL statement. Refer to your IDEAL statement for amount verification.
When will I stop receiving the cash deposit slip?

In the event that both copies of the cash deposit slips are deposited between 1 November – 31 December 2020, customer’s copy will still be returned. However, we strongly encourage your company to adopt and familiarise yourselves with the updated process as the return of cash deposit slips will cease from 1 January 2021.
Am I required to keep the cash deposit slip?

Yes, please retain the customer’s copy for your reference and insert only the bank’s copy into the cash deposit bag.
What are the instances of exception handling that will result in additional processing fees?

You will be charged up to S$20 for each exception, capped at S$2,500, which include, but are not limited to the following:

  • Multiple deposit bags or deposit slips found in a single deposit bag
  • Illegible handwriting or unregistered account numbers on deposit slips
  • Depositing cheques in cash deposit bags
  • Depositing more than 50 coins in a single cash deposit bag
  • Depositing cash in non-standard tamper-proof bags

Please refer to pricing guide for more information. You may also wish to consider using our digital collections solutions such as PayNow Corporate and DBS MAX for more convenience and to save on these potential additional costs. For coin deposit needs, you may wish to do so via our Coin Deposit Machines available islandwide.
Can I deposit foreign currency notes at DBS/POSB branches?

Foreign currency deposit & withdrawal service is available at the following branches:

a. DBS MBFC branch
b. DBS Suntec City branch
Which foreign currencies can I deposit or withdraw?

You can deposit the following foreign currency notes : USD, EUR and JPY.

You can withdraw foreign currency notes in USD.
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