POSB iBanking Money Safe Guarantee

With POSB iBanking money safe guarantee, you enjoy peace of mind whenever you bank online.

As the bank that cares, we know that security is very important to you when you bank online. POSB iBanking guarantees your money is secure when you bank online. In the unlikely event that there is an unauthorized transaction when you bank online, we will repay you so you incur no loss.

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Our guarantee to all POSB iBanking customers in Singapore

The moment you become an iBanking customer, you'll be automatically covered by this guarantee for your online banking. While we'll 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 unauthorized access.

If the security of your online account is compromised, we pledge to replace your money.

Our guarantee protects you if you have kept yourself secure online including taking the following steps:

• You have kept your 2 Factor Authentication Token (IB Secure) secure.
• You have not given your security details (such as your User ID, PIN and 2 Factor Authentication Token or SMS-One-Time Password (IB message) to someone else.
• You do not use an account aggregation service (a service provided by another company that allows you to view all of your bank details on a single website) or similar service.
• You have followed our recommended security practices and complied with your obligations in the terms and conditions that apply to your account and iBanking facility.
• You inform us the instant you are aware of any security breach or suspected fraud (Tel number: 1800-1111111).
• You monitor records of your transactions regularly, and report discrepancies to us within fourteen days from the date of your statement of account.
• You help us by providing your full co-operation and all information requested, including working with relevant authorities.

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.

We'll begin investigations the moment you inform us that your account has been compromised and we'll 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.