POSB iBANKING
Frequently Asked Questions
iBanking money safe guarantee
- Summary of POSB money safe guarantee?
POSB now offers a money safe guarantee. POSB iBanking customers will be automatically covered under the iBanking money safe guarantee for their online banking, and it is absolutely free.
- What is POSB money safe guarantee?
If the security of your online account is compromised, we pledge to replace your money
(*subject to terms and conditions) - Do I have to sign up for POSB money safe guarantee?
The moment you become an iBanking customer, you'll be automatically covered by this guarantee for your online banking.
- Is there a fee for POSB money safe guarantee?
There is no charge for this service
- How do I make a report if I discover suspicious activities when performing iBanking?
You may wish to contact us via our 24-Hrs hotline 1-800-1111111 or via the online feedback form.
- How long does it take for POSB to investigate suspicious activities?
We will begin investigations the moment you inform us that your account has been compromised and we will get back to you within seven working days. Depending on the complexity of the claims, which may require more time for investigations, we will notify you accordingly.
- What are my liabilities?
While we will protect you with the latest online security, as a customer, you too have a role to play in protecting yourself online and taking measures to safeguard against unauthorised access. If the security of your online account is compromised, we pledge to replace your money.
The replacement of your money is limited to the amount illegally transferred from your iBanking account. This guarantee does not cover any other losses, including indirect, consequential or special losses, damages, expenses, legal fees or loss of opportunity.
The guarantee will not apply where the transaction was carried out with your knowledge and consent, or where you have acted fraudulently, dishonestly or in a criminal manner, alone or with others.
- What must I do in order to be covered by POSB money safe guarantee?
While we will protect you with the latest online security, as a customer, you too have a role to play in protecting yourself online and taking measures to safeguard against unauthorised access. Please refer to POSB money safe guarantee for more details on the steps you should do to keep your iBanking secured.
- Is there a cap that the bank will pay me?
The replacement of your money is limited to the amount illegally transferred from your iBanking account. This guarantee does not cover any other losses, including indirect, consequential or special losses, damages, expenses, legal fees or loss of opportunity.
The guarantee will not apply where the transaction was carried out with your knowledge and consent, or where you have acted fraudulently, dishonestly or in a criminal manner, alone or with others.