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DBS/POSB Consolidated Statement

View your complete portfolio of deposits, loans and investments at a glance.

DBS/POSB Consolidated Statement

To enhance your banking experience, we are progressively introducing the new DBS/POSB Consolidated Statement to all our customers. This new monthly all-in-one statement will allow you to conveniently monitor and track your total balance with us based on your relationship with the bank (Personal Account / Joint Alternate / Joint All).

Benefits

  • Convenience: Receive only one consolidated statement per month
  • Easier Tracking: View all eligible accounts at a glance
  • Fast & Secure: View eStatements from the past 7 years* via our secure iBanking portal

Learn how to read the new DBS/POSB Consolidated Statement.

Statement Guide

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FAQ


  1. Why is the bank introducing Consolidated Statements?

    The bank is constantly striving to improve customers’ experiences. Currently, customers are receiving individual statements for each product. With the new Consolidated Statement, you will receive only one statement per month based on your relationship with the bank (Personal Account / Joint Alternate / Joint All), depending on their mailing address.

  2. What is a Consolidated Statement?
  3. It is a combined statement of your deposits, loans and investments that you have with DBS and/or POSB.

  4. Am I eligible for the new Consolidated Statement?

    For personal banking customer, you will be eligible for the new consolidated statement if you are currently receiving statements for your deposits, investment (including CPFIS & SRS) and loans account.

    For Treasures, Treasures Private Client and Private Bank clients, 3 additional accounts, CPFIS, SRS and Autoloan will be added to your existing consolidated statement.


  1. How do I enrol for Consolidated Statements?

    You do not need to enrol to receive Consolidated Statements. The bank automatically consolidates all eligible products in this combined statement based on your mailing address and relationship with us.

  2. Can I choose to receive either individual product statement or Consolidated Statement?

    As part of the bank initiative to provide a value added service to customer, customer with eligible products for consolidated statement will no longer be offered the individual product level statement as part of the product features.

  3. When will I start to receive Consolidated Statements?
  4. The bank will roll out progressively to our customer from early 2015. An email notification will be sent by the bank to inform you one month before you receive your Consolidated Statement. All customers should receive their Consolidated Statement by last quarter of 2015.

  5. Can I select accounts to be included in my Consolidated Statement?

    All of your eligible accounts will be consolidated into the new combined statement as part of the product feature. You will not be able to select accounts to be included in your Consolidated Statement.

    Note - All eligible accounts will be included except the following: POSB Passbook Savings Account, POSB Work Permit Account, POSB Payroll Account, Trust Account, Corporate Account, Unsecured Loans.

    Structured Deposit and Currency Linked Investment standalone weekly statement will no longer be offered to Personal Banking and Treasures customers. For half yearly Singapore Dollar Fixed Deposit, Foreign Currency Fixed Deposit, Structured Deposit and Currency Linked Investment, your account details will be part of the new monthly DBS/POSB Consolidated Statement and Treasures Consolidated Statement.

  6. Currently, I am receiving 2 different paper statements at 2 different addresses. Will I continue to receive 2 separate Consolidated Statements with this initiative?

    If you have 2 different addresses, you will continue to receive 2 separate Consolidated Statements sent to your address.

  7. I’m a joint account holder; will both of us each receive a Consolidated Statement?

    For joint accounts with the same address, you will continue to receive one Consolidated Statement.

  8. Do I need to pay for this new Consolidated Statement service?

    No. This service is offered to you free of charge.

  9. What can I expect to see in the Consolidated Statement for mortgage?

    On a monthly basis, we will provide your outstanding loan amount as at the last calendar day of the previous month, as well as a summary of the year’s transactions for statements generated as at 31 December.

  10. What can I expect to see in the Consolidated Statement for renovation loan?

    On a monthly basis, we will provide your outstanding loan amount as at the last calendar day of the previous month.

  11. I have just taken up a mortgage loan with you. Why is my loan balance not displayed in the statement?

    If your loan account has not been drawn down, there is no amount due to the bank and therefore there is no outstanding balance to display on the statement.

  12. I have fully redeemed my loan last month. Why is my loan balance not displayed in the statement?

    If your loan account has been redeemed/fully repaid, the bank will send you a final statement detailing the transaction and amount redeemed/fully repaid; therefore it will no longer be printed in the Consolidated Statement.

  13. Will I continue to receive my detailed transactions for my renovation loan?

    Yes, you will continue to receive it in January of the following year.

  14. Will I continue to receive my summary statement for my mortgage loan?

    If your account is selected for consolidation, you will no longer receive a separate statement.

  15. Where can I view my detailed transactions for my mortgage loan monthly?

    Detailed transactions are not available on this Consolidated Statement, but you may view your detailed transactions for the current and past two months via iBanking.

  16. What can I expect to see in the Consolidated Statement for Auto Loan?

    We will provide your Outstanding Loan Amount as at the last calendar day of the previous month, and a summary of the detailed transactions will be available in the Yearly Statement generated as at 31 Dec.

  17. Will I continue to receive my detailed transactions for Auto Loan?

    Yes, you will receive in January 2015.

  18. I have fully redeemed my loan last month. Why is my loan balance not displayed in the statement?

    If your loan account has been redeemed/fully repaid, the bank will send you a final statement detailing the transactions and the amount redeemed/fully repaid, therefore it will no longer be printed in the consolidated statement.

  19. What is the difference between Outstanding Amount and Total Loan Outstanding in the Consolidated Statement?

    The Outstanding Amount refers to the outstanding amount for each loan while Total Loan Outstanding refers to the sum of all the outstanding loans.

  20. What is the definition of the term ‘Advance Payment’ in the Yearly Statement?

    The term ‘Advance Payment’ refers to the Excess Amount received in your loan account.

  21. What is the definition of the term ‘Interest Payable’ in the Yearly Statement?

    The term ‘Interest Payable’ refers to the Accrued Interest payable.

  22. Why does the Loan Outstanding Amount differ from the actual Redemption Amount?

    It differs as redemption charges will be imposed upon early redemption.


  1. I did not opt-in for eStatements for the new Consolidated Statement. Why am I being converted to eStatement?

    As part of our effort to go paperless, you will receive an electronic Consolidated Statement if any of your existing accounts are on eStatements. Here is an example for your reference.

     

    Current

    New

    Paper Statement

    eStatement

    Consolidated Paper Statement

    Consolidated eStatement

    Scenario 1

    Account 1

     

     

    Account 2

     

     

    Scenario 2

    Account 3

     

     

    Account 4

     

     

    Scenario 3

    Account 5

     

     

    Account 6

     

     

  2.  Can I opt for Paper Statement instead?

    If you wish to continue receiving Paper Statements, you may log in to DBS or POSB iBanking to opt-out of eStatements. You will no longer be able to view eStatements for the past 7 years* once you opt-out of eStatement.

    Three simple steps to manage your Statement preference:

    Step 1:

    Log in to DBS or POSB Internet Banking

    Step 2:

    Click on Request Statement on the top menu bar, then select More Request and Manage eStatement   

    Step 3:

    Click on Manage eStatement   

    *From the date of enrolment

  3. When will I start to receive my eStatements?

    Upon successful enrolment, you will be able to view your eStatements via iBanking from the next statement cycle onwards. Every month, you will receive an email notifying you that the eStatement is available for viewing.

  4. Is there an option to apply for both eStatement and Paper Statement for Consolidated Statements?

    No. Once you have enrolled for the eStatements, you will no longer receive the paper-based statements on the next statement cycle.

  5.  Will I be able to view my past statements online prior to the enrolment?

    No. You will only be able to view your electronic statements online on the next statement cycle after you have successfully enrolled for the service.

  6. Will I be able to view my past individual statements?

    If you receive eStatements currently for individual products, you will be able to view your past individual eStatement for up to the 7 years, from the date of enrolment.

    Once you have successfully signed up for the service, your eStatement will be available for viewing on DBS/POSB Internet Banking from the following month onwards.

  7. Can I request for my past Statement to be available online too?

    If you are already on eStatement for individual products, you will be able to view your past individual eStatements up to the last 7 years, from the date of enrolment.

  8. How long can I keep and view my eStatements online?

    For monthly statements of accounts, the eStatements are archived up to the past 7 years beginning from the date of subscription. For quarterly statements of accounts, the eStatements are archived up to the past 5 quarters, beginning from the date of subscription.

  9. How will I know when my eStatement is ready for viewing?

    You will receive a email notification when your eStatement is ready.

  10. Can I save a copy of my eStatement?

    Yes. You can download and save the monthly/quarterly eStatement for your own reference and archival. The eStatement will be presented as a PDF file, so you may save it in the same way as you normally would for any PDF file.

  11. I am unable to download my eStatement. How do I troubleshoot?

    Some Chrome users may encounter issues when trying to download their eStatement, due to a plugin. Users can try disabling their Chrome PDF Viewer Plugin, in order to automatically download the statements upon clicking “View eStatement”. Follow the below steps to disable your plugin:

    • Open your Chrome browser and in the address bar, type “chrome://plugins”
    • On the Plugins page, click “Disable” link under the “Chrome PDF Viewer” section.
    • Restart your Chrome browser and login to POSB iBanking to view and download your statements.
    Alternatively, you could also try using other supported browsers. For a full list of supported browsers, click here.

  12. Can I cancel the eStatement service and opt for paper-based statements in future?

    Yes. You can cancel the eStatement service anytime via iBanking. The cancellation of the eStatement service will take effect on the next statement cycle and you will automatically revert to receiving paper-based statements of the selected accounts. Your Paper Statements will be mailed to your address as per our records.

  13. After I have cancelled the eStatement service, will I be able to view the historical eStatements previously posted online?

    Yes. The eStatements generated previously will still be available for your viewing.

  14. Do I need to pay for this new eStatement service?

    This service is free of charge.

  15. Can I view the eStatement via digibank app?

    This service is currently not available via digibank app.

  16. Why am I unable to opt-in or opt-out for eStatement via iBanking?

    Some of the reasons could be:

    1. You are a joint account holder and one of the joint account holders has already made the opt-in/opt-out selection.
    2. Your accounts are not eligible for opt-out of eStatement (i.e. eAccounts)
    3. Wealth Management Consolidated Statement

  1. How do I view my eStatement on iBanking?

    1. Login to iBanking
    2. Click on “My Accounts” on the top navigation menu and select “eStatement
    3. Select Statement Type as “DBS/POSB Consolidated Statement”, Account Details as “Name” and click “Go”
    4. DBS/POSB Consolidated Statement

  2. How do I opt-out of eStatement?

    1. Login to iBanking
    2. Click on “Request” on the top navigation menu and select “More Requests
    3. Under “Statements & Advices”, select “Manage eStatement”

      DBS/POSB Consolidated Statement

    4. Change the eStatement Status of the account you wish to opt out of eStatements, accept Terms and Conditions and click “Next”
    5. Select “Reason for Opt-Out”, click “Continue”
    6. Verify the details and click “Submit” to confirm your Manage eStatement request.

      DBS/POSB Consolidated Statement

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