Enjoy a rewarding start to your banking journey with POSB, all without the need to visit a branch!

From 1 August to 31 October 2023, get up to S$78 cash reward when you open your first account online via our POSB digibank app and link the new account with both PayNow Mobile and PayNow NRIC.

This promotion is valid for customers who are new to DBS/POSB. Terms and conditions apply.

Here’s how:

Step 1: Open your first POSB account to get S$68 cash reward

Download POSB digibank app.


Open My Account or DBS Multiplier with Singpass.

Pro-tip: For quick and easy verification, please ensure that your Singpass profile is up-to-date with your residential address, mobile number and email address.

Applicable to new DBS/POSB customers who do not hold any DBS/POSB products in the last 12 months.

Do not have Singpass*?

Please prepare the following required documents prior to your application with Singpass. Once your application is approved, you will receive an email and SMS notification

*Note: Your account must be opened with Singpass to be eligible for this promotion.


Step 2: Link your new account with PayNow Mobile and/or NRIC to get up to S$10 cash reward (Applicable to Singaporean / Permanent Residents only)

Receive payments from friends, businesses and selected government entities faster and send money instantly with PayNow! Link your new account to both PayNow Mobile and/or PayNow NRIC within 7 days from account opening to get up to S$10 cash reward.

How to link your account with PayNow:

On your digibank app

Step 1
Launch digibank and log in

Step 2
Tap on <Pay & Transfer>

Step 3
Tap on <PayNow>

Step 4
Tap on <Your Profile>

Step 5
Tap on <Register Your Mobile No.>

Step 6
Enter your preferred nickname and account that will link with your PayNow

Step 7
Review information and tap on <Register Now>

Repeat Steps 5 to 7 link your <NRIC/FIN> as well

On digibank online

Step 1: Log in to online banking
Step 2: Go to ‘Transfer – To PayNow (Mobile Number, NRIC or UEN)’
Step 3: Click on 'My Registrations'
Step 4: Click on 'Register my Mobile Number' or 'Register my NRIC / FIN'

Need help?

Click here to view Frequently Asked Questions.
Click here for full terms and conditions for S$78 Account Opening Reward.


Frequently Asked Questions

Account Opening

How long will it take for the account to be open upon submission of application?

If you have applied using your Singpass, your new account will be opened instantly.

A notification email will be sent to you when your account is opened. Please ensure that you update your email address before applying.


How long will it take for my cash reward to be credited?

The Reward will be credited to the eligible Deposit Account by 31 January 2024 (or such other date as POSB may determine in its sole discretion and without prior notice to you). Thereafter, Eligible Customers will receive a notification that it has been credited.

What happens if I close my account prior to the crediting of cash reward?

Your cash reward will be forfeited as there is no available account for the crediting of cash reward.

Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$75,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.


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