With the money safe guarantee, DBS’ iBanking customers will be automatically protected when transacting online, with the bank reimbursing them in the unlikely event of unauthorised transactions on their iBanking account.
Customers will need to continue to do their part by keeping their login PINs, identity and tokens secure, to minimise the risk of unauthorised transactions.
Rajan Raju, group executive of consumer banking group at DBS, said: “We believe that internet banking is becoming an increasingly important aspect of banking of the future. Although the industry follows a set of high security standards, many still have concerns over transacting on the internet.
“As the bank with the largest number of online users, we want to take the lead to give our customers greater peace of mind and assurance when they transact online with us.”
