DBS Bank will roll out a new 12-hour waiting period for selected digital banking transactions as part of enhanced anti-scam measures aimed at protecting customers from unauthorised activity.
The new rule will take effect on March 7 and applies to users who wish to increase their daily local or overseas transfer limits, add a new transfer recipient, or update key contact details such as email addresses and mobile numbers.
To Prevent Fraud
According to an email sent to customers on February 20, the cooling period is designed to provide additional time for the bank to detect and prevent suspicious transactions. During this 12-hour window, requests will not be processed immediately.
If a scammer attempts to change transfer limits or add new payees without the account holder’s knowledge, the changes will only take effect after the cooling period ends. Meanwhile, alerts will be sent to the customer’s registered contact details, allowing them to review and report any unauthorised requests promptly.
Current DBS Cooling Period
Currently, DBS already applies a 12-hour cooling period when customers set up new digital tokens. The latest expansion extends similar safeguards to other sensitive account changes.
The bank has advised customers to plan their transactions in advance to avoid delays, particularly when intending to transfer funds to new recipients. Users are also encouraged to regularly review their transfer limits and keep them at appropriate levels to minimise potential losses in the event of account compromise.
In recent years, banks in Singapore have introduced multiple security enhancements in response to rising scam cases. In October 2025, major retail banks implemented measures allowing them to hold or reject transactions if more than half of an account’s total balance is withdrawn within 24 hours.
Other financial institutions have also adopted cooling-off periods and additional authentication steps for internet and mobile banking services.
DBS said these latest changes are part of ongoing efforts to strengthen customer protection and reduce the risk of financial fraud, as scam tactics continue to evolve.
Customers are advised to stay vigilant, monitor account activity closely, and contact the bank immediately if they notice any suspicious transactions.