DBS Fund transfer not immediate

[duhduhduh]

I raised your concern when they decided to impose such blanket cooling period back then. I already foresee it will cause a huge inconvenience when someone want to do a one-time large transfer.

Unfortunately these cooling period are imposed by MAS, and the bank just follow.

If you want to kpkb, you can go ask your MP or write in to MAS.

 

[CaptainWu]

Yes I did. Now I have to personally call their busy hotline to effect the transfer but still have to wait.

So DBS confirmed this new rule is implemented? Anything more than 50k?

 

[Potent]

I recall reading somewhere that the bank transfer immediately to another “own account name” and later the person complained about the bank, because the “own account name” was set up by a scammer. The bank was faulted why transfer so fast, even to own name account.

Now that the scammers are intensifying their focus to scam Singaporean accounts, i would rather wait 6 hours than have the entire account wiped out. Some ppl lost their entire life savings.

They waited six hours but the acct of ner didn't even know also...

 

[ctan84]

Technically police can continue to wear shorts also.

but that’s life right

Well, they did revert back to wearing shorts when on patrol now. So clearly even the police knows that certain activities if its better to "move back", then just do so.

 

[reddevil0728]

Well, they did revert back to wearing shorts when on patrol now. So clearly even the police knows that certain activities if its better to "move back", then just do so.

ya lor so depends on situation lor

 

[sk0065]

Tell you use biscuit tin to keep your cash already

don’t listen

Then hard part is opening the tin lid
the actual transfer is very fast one.

 

[peppermint7]

So DBS confirmed this new rule is implemented? Anything more than 50k?

I just tried transfer more than that and it is fine.

 

[royalmix]

I just tried transfer more than that and it is fine.

One must "act like a scammer" before the system will flag! Do you know all the conditions to hit the red flag?

 

[peppermint7]

One must "act like a scammer" before the system will flag! Do you know all the conditions to hit the red flag?

I only know shopping sites open multi acc will be flagged. Banks wise not sure

 

[reddevil0728]

I just tried transfer more than that and it is fine.

But also relative to your account balance

 

[peppermint7]

But also relative to your account balance

My total 90k+. I transfered 90k out (via app). So it is still good.

 

[reddevil0728]

My total 90k+. I transfered 90k out. So it is still good.

then maybe got certain other reasons...

 

[peppermint7]

then maybe got certain other reasons...

I think they randomly spot check and hold . Unless more similar cases such as TS brings up then say.

 

[reddevil0728]

I think they randomly spot check and hold . Unless more similar cases such as OP brings up then say.

yea. so lets see lor

 

[iadpotato]

few years ago, i did a tx of $50k+ from SCB to DBS, both account under my name. The transfer was blocked and Immediately someone from the SCB bank called me and ask me alot of questions.. after that the transfer went thru. Since then, i have been doing this monthly for years already and so far no issues.

 

[peppermint7]

few years ago, i did a tx of $50k+ from SCB to DBS, both account under my name. The transfer was blocked and Immediately someone from the SCB bank called me and ask me alot of questions.. after that the transfer went thru. Since then, i have been doing this monthly for years already and so far no issues.

I gotten the same call from SCB many years ago but for 3k. Sounds like an Indian lady from overseas. She's friendly and polite. Only to verify I'm the one making the transaction.
DBS also called me before but not the usual cs. He's more like an officer performing checks on customers with suspicious transactions that period of time i did a lot of Socashing and also transfers to Singlife. he never heard of Singlife and Socash so he called up to check what are these transfers for. At the end he ask me why i don't leave my money with them instead of transfer to other banks. I ask him why they didn't offer competitive rate. Else i will surely support them. I ask him will he lock my account because of these transactions. He says no cos i didn't do anything illegal. They will only lock if they find a substantial reason to. In my case i can verify where the funds are from and what these transactions are for so its all well.

 

[wutawa]

I gotten the same call from SCB many years ago but for 3k. Sounds like an Indian lady from overseas. She's friendly and polite. Only to verify I'm the one making the transaction.
DBS also called me before but not the usual cs. He's more like an officer performing checks on customers with suspicious transactions that period of time i did a lot of Socashing and also transfers to Singlife. he never heard of Singlife and Socash so he called up to check what are these transfers for. At the end he ask me why i don't leave my money with them instead of transfer to other banks. I ask him why they didn't offer competitive rate. Else i will surely support them. I ask him will he lock my account because of these transactions. He says no cos i didn't do anything illegal. They will only lock if they find a substantial reason to. In my case i can verify where the funds are from and what these transactions are for so its all well.

All these positive posts abt transferring are making me assured that my $1k in posb is safe.

 

[peppermint7]

All these positive posts abt transferring are making me assured that my $1k in posb is safe.

Why u think not safe in the first place? Did i miss out something?

 

[wira]

Anti-scam measures are fine, but at least give people the option to whitelist payee accounts.

have you ever thought if you can whitelist accounts, so can fraudster when they take over your account.

 

[yiron]

have you ever thought if you can whitelist accounts, so can fraudster when they take over your account.

Have u ever thought that there can be secure means of whitelisting accounts so that fraudsters can't?