Is POSB and DBS are same bank?

[dgeralds]

Though I know DBS has acquired POSB I need some clarification.

I have a POSB account. But I log into DBS website to do ibanking and use DBS token. No problem.

Recently I saw POSB promotions (like 1.5% interest for 20k deposit) and DBS promotion (6 months deposit, $1000 to $100,000, 1.5%). Though I'm a POSB account holder, can I take part in DBS promotion?

Similarly I saw SRS account opening promotion...one by DBS and one by POSB. How to choose the promotion that I want?

Thank you.

 

[chiokcc]

For me, for all practical purposes, treat POSB == DBS. However, the branches do operate slightly differently I believe...

 

[simon_84]

apply debit card must go different branches...
last time i try to apply dbs debit card at posb branch, got a telling off from the posb counter staff.

 

[iCuteCube]

Let me try to clarify to my best extent.

If you are talking about usual branch banking services, those normal one, you can definitely transact at both DBS or POSB, any branch.

Example: Telegraphic transfer, Deposit, Withdrawal, update passbook, lost passbook.

There are some difference is for example for corporate customer, you want to go to DBS. POSB is able to do corporate like sole prop, partnership, but trust me, you would want to go to DBS as most of the time the POSB staff are not that experience because they rarely handle corporate customers. It's not their fault because of the volume, they cant practice much on the process of the corporate users.

Talking about cards, most card are available through ibanking and nobody really go to the branch to apply for card except for people without income, they will usually do a Fixed Deposit 10k and get a secured credit card. Otherwise if the credit card you want to apply can be applied online, I strongly recommend you to apply via online, it is fast and painless.

For promotion wise, DBS and POSB promotions are able to transact at any POSB or DBS branches. You may visit the branch for more information. It's just the branding, but if you look carefully DBS or POSB website and other information papers, they try to make it as similar as possible but separate the branding because majority of the Singaporean elderly (Above 55 years old) love POSB alot, it's the bank that they grew up with. That's why the brand gonna stay.

Otherwise almost all POSB/DBS branches will be able to transact almost all transaction, with special attention to corporate customers please go to DBS for ease transactions.

 

[wts2013]

Though I know DBS has acquired POSB I need some clarification.

I have a POSB account. But I log into DBS website to do ibanking and use DBS token. No problem.

Recently I saw POSB promotions (like 1.5% interest for 20k deposit) and DBS promotion (6 months deposit, $1000 to $100,000, 1.5%). Though I'm a POSB account holder, can I take part in DBS promotion?

Similarly I saw SRS account opening promotion...one by DBS and one by POSB. How to choose the promotion that I want?

Thank you.

POSB is a subsidiary of DBS, like mother and daughter lor. DBS choose to maintain POSB brand name, instead of merging it into DBS and call the branches DBS.

U just read the tnc lor, POSB promo is open to both POSB and DBS customers. DBS promo is only on invitation only, also open to both POSB and DBS customers.

SRS promo, since POSB is daughter of DBS, DBS makes use of POSB branches to help it promote the service lor, no different, u can apply at POSB or DBS branches, same one wor.

 

[cscs3]

apply debit card must go different branches...
last time i try to apply dbs debit card at posb branch, got a telling off from the posb counter staff.

After so many years of merger. They still cannot do it right.

 

[xrubiksx]

Yup! basically you can treat them the same. Just that sometimes certain retail promotions are only entitled to certain card holder. Ytd i was eating at four fingers and the promotion they had is only applicable to DBS debit card holder and not POSB..zzzz

 

[havetheveryfun]

After so many years of merger. They still cannot do it right.

you can do posb stuff at dbs but cannot do dbs stuff at posb

 

[chiokcc]

Yup! basically you can treat them the same. Just that sometimes certain retail promotions are only entitled to certain card holder. Ytd i was eating at four fingers and the promotion they had is only applicable to DBS debit card holder and not POSB..zzzz

Is it? I used POSB Everyday card w/o any issue leh

 

[lin.ci84]

both banks belongs to the jinx

enjoy!

 

[Kang meng]

So example lazada installment payment method. Its says dbs bank. But my credit card is Posb everyday card. Can I use it for the installment payment in lazada?

 

[BBCWatcher]

So example lazada installment payment method. Its says dbs bank. But my credit card is Posb everyday card. Can I use it for the installment payment in lazada?

Yes, you can.

If a merchant says "offer valid for all cards issued by DBS" (or similar) then POSB branded cards count since POSB is part of DBS. If the merchant says "offer valid using the POSB Everyday Card" then only that specific, named card is valid.

 

[politicalsg]

you can do posb stuff at dbs but cannot do dbs stuff at posb

This, pretty much. POSB is a small part of DBS.

 

[hkchew03]

Because old generation always say "post" bank, you change to DBS, they lost liao

Posted from PCWX using Redmi K20 Pro

 

[cscs3]

So example lazada installment payment method. Its says dbs bank. But my credit card is Posb everyday card. Can I use it for the installment payment in lazada?

No, different branding different offer. Although POSB parent bank is DBS.

 

[BBCWatcher]

No, different branding different offer. Although POSB parent bank is DBS.

No, Lazada's installment offer applies to all DBS issued credit cards, including those under the POSB brand (which are also DBS issued). Yes, I checked. Give it a try!

CAUTION: DBS/POSB and OCBC (the participating banks) are rather hoping you'll forget to pay your credit card bill or otherwise will incur late charges and/or interest. And they're also offering installment payments to encourage more spending and overspending. That's the whole point of making this offer with Lazada, to boost everybody's revenues (Lazada's and the banks'). It's reasonable to take advantage of interest free installment payments, but you should only do that for goods that you would have bought regardless (without installments), that you can easily afford (without installments), and (highly preferably) with your credit card set to automatic monthly full balance GIRO payment. Otherwise Lazada and the banks are going to win this particular game, at your expense.