What is the POSB Passbook conversion about?
POSB eSavings is an all-in-one account that comes with iBanking, eStatements and Debit Card.
We invite existing POSB Passbook Savings customers (of personal or joint-alternate account type) to convert their account to POSB eSavings without any hassle. The account number and the services linked to the account will not be affected by the conversion.
Existing POSB Passbook Savings customers who already have iBanking can convert seamlessly in 3 simple steps:
If you are not currently an iBanking customer, click here to sign up for iBanking now.
What are the benefits of converting to POSB eSavings?
POSB eSavings allows you to:
Will I have to pay a fee to convert?
No. This is a complimentary service.
Can I choose not to enroll for either iBanking, eStatement or Debit Card?
POSB eSavings comes with all 3 services to let you bank conveniently. Once you convert to POSB eSavings, you will automatically be enrolled with all 3 services if you do not already have them.
Can I choose not to replace my ATM Card with the Debit Card?
Debit Card is an enhanced ATM card. It functions like your current ATM card and let you pay for purchases at outlets that accept Debit Card. Plus, earning cashback* with the card.
If you do not already have a DBS/POSB Debit Card, a new Debit Card will be automatically sent to you upon conversion. This new Debit Card will replace your existing ATM Card that is primary tagged to your earlier POSB Passbook Savings Account. Upon activation of this new Debit Card, your existing ATM card will be terminated.
If you already have a DBS/POSB Debit Card, you will not be sent a new Debit Card upon conversion. The existing Debit Card that is primary tagged to your earlier POSB Passbook Savings Account will then be primary tagged to your new POSB eSavings.
* Details please refer to here.