I hope that our banks make it easier for their customers
to make payments using internet banking.
DBS Bank requires me, as a customer, to register a payee and to
authenticate the payee with my mobile phone. This is on
top of logging in to the account with my login name, PIN and
the token (2FA authentication).
As I have reached the limit of the number of my registered payees
I have to find one payee to delete, so that the new payee can be
When creating the payee, I must make sure that I have entered the
bank account correctly, as the system does not show me the name
of the payee. After going through so much hassle, it is easy to make
a mistake at this juncture.
Previously, I have asked DBS Bank to provide an option for the customer
to make small payments, say less than $500, without the need to go
through the complicated process of registering, authenticating and
deleting a payee. The customer will probably choose this option for a
It would also be useful for the name of the payee to be displayed (after
the bank account has been entered). This is more important than the
requirement to create a payee record.
DBS Bank was not able to accede to my request. I suspect that the
current practice must be mandated by the regulator, i.e. Monetary Authority of
Singapore. I hope that the regulator can give their comment on this issue.
Tan Kin Lian