Starting March 7, DBS digital banking customers will face a mandatory 12-hour waiting period before they can raise transfer limits or add new payees. This measure is a strategic security enhancement designed to counter increasingly sophisticated scam tactics.
The new protocol requires a 12-hour delay for updating contact information like email and mobile numbers, alongside the existing security token activation delay. DBS emphasizes this safeguard provides customers crucial time to identify and report any unauthorized account activity.
During the cooling period, customers will receive alerts to their registered contact details, enabling immediate reporting of suspicious requests. Standard transactions, such as transfers to existing payees within current limits, remain unaffected.
This initiative aligns with similar security measures adopted by OCBC Bank and UOB. In the first half of 2025, Singapore reported over S$450 million lost to scams, with phishing being a prevalent threat.