DBS Enhances Security with 12-Hour Cooling Periods for Key Banking Actions

DBS, Singapore’s largest bank, is implementing new security measures to protect customers from increasingly sophisticated scams. Effective March 7, 2026, users will experience a 12-hour cooling-off period before certain key banking actions can be completed.

What Changes are Being Implemented?

The new measures introduce a 12-hour delay for the following actions:

• Adding a new payee
• Increasing daily local and overseas transfer limits
• Updating contact details such as email addresses and mobile numbers

This is in addition to the existing 12-hour cooling period already in place for the activation of digital security tokens as outlined by DBS.

Why is DBS Implementing These Changes?

DBS states that these changes are a “critical safeguard” designed to provide customers with sufficient time to detect and halt any unauthorized activity on their accounts. Recent data indicates a rise in phishing scams targeting DBS customers, with at least 83 victims losing $155,000 since the beginning of 2024.

How Will the New Measures Work?

After initiating one of the affected actions, transfers to new recipients or transactions exceeding existing limits will be delayed for 12 hours. During this period, DBS will send alerts to the customer’s registered bank contact details, allowing them to review the request and immediately report any unauthorized activity. DBS encourages customers to report suspicious activity via their 24/7 Fraud Hotline at 1800 339 6963.

What Banking Activities Are Not Affected?

Other banking activities, such as transferring funds to existing payees within current transfer limits, will not be subject to the 12-hour cooling-off period and can be performed as usual.

Protecting Yourself from Scams

DBS emphasizes the importance of vigilance against scams. Customers are advised to be cautious of unsolicited communications requesting personal or sensitive information, and to avoid clicking on links or downloading attachments from unknown sources. Key reminders include:

• Never share your banking credentials or Singpass details.
• Be wary of messages containing links, QR codes, or attachments.
• Verify unexpected communications directly with DBS.

For more information and resources on scam prevention, visit the DBS Scam Defence website.