Tuesday, July 07, 2009

Funds Transfer

Service Quality Manager
DBS Bank

I find the funds transfer facility provided by DBS Bank through internet banking and ATM to be very useful. I wish to pass this suggestion for your bank to improve this service.

1. Type of account
When I make a funds transfer by internet banking or ATM to a DBS or POSB account, I am asked to specify the type of account, e.g. current, saving, or other type. Usually, the payee does not tell me the type of account. They only indicate DBS or POSB

Can you change the system to avoid specifying the type of account. I believe that the account number should be sufficient for DBS to identify the actual account.

2. Reference Number
When another person transfers money to me through ATM, the transferor is not able to enter a Reference in your ATM machine. I do not have any idea about the identity of the person making the payment to me through ATM.

Can you change your ATM system to allow a Reference Number to be entered. I am aware that this has to be restricted to a Numeric number, but this is better than no reference at all.

Thank you.

Tan Kin Lian
Posted by at

4 comments:

Jessica Ong said...

Yes Mr Tan, DBS's requirement to indicate current or savings for POSB or DBS is really a pain. It's been irritating me for years, and I've had at least 5 funds transfer rejected because of the wrong indication. There is also no way to tell from the account nos.

I hope someone in DBS listens to the feedback.

July 07, 2009 1:17 PM
Anonymous said...

If you think the type of account is a pain, the stupid question that POSB ATM always ask me whether I want Malay used is a double pain, inspiteof the fact that I do not know Malay and less than a quarter of the population uses it. It is plain stupidity in the informative age for POSb to be so clueless about the preferences of its customers and ask this stupid question repeatedly.

July 07, 2009 6:11 PM
Anonymous said...

Is it always safe to transfer funds via internet? Once i advised my account number to an overseas friend to reimburse me for something i purchased for her....after checking for few days i still did not receive the money even though she confirm having sent it...i did not pursue the matter with her as the amount is small....

July 08, 2009 10:02 PM
Anonymous said...

Hi Mr Tan,

I would like to ask your advise regards to professonal fees.

I will receive my professional fees soon but I'm worried that the goverment will interogate me once the money is transfer to my account.

I'm just a ordinary person which introduced a lessor and leesse for project fund and the already towards the approval.

Yuor advise is important to me

Thank you
Fendi

August 19, 2009 9:22 PM

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