DBS, POSB internet banking services restored after hours-long disruption
SINGAPORE: DBS and POSB internet banking and payment services have been restored after they went down for several hours on Thursday (May 2).
Services returned to normal at about 8pm, DBS said in an update on Facebook at about 8.15pm.
The bank said at 6.54pm – about an hour after the outage was first reported by users – that it was aware of the issues.
"We have identified the issue and have activated measures to recover the services," said the bank. "You can continue to use your DBS/POSB credit or debit cards to make payment."
It added that people could also use the ATMs nearest to them.
DBS Wealth clients could contact their relationship managers to place trades, while Vickers and mTrading customers should contact the Vickers hotline at 63272288 for help.
"Please be assured that your monies and deposits remain safe. We are sorry for the inconvenience caused," it added.
Downdetector showed that users started reporting disruptions with DBS internet banking services at about 5.45pm.
In a notice to users on its mobile app, DBS said: "Access to digital services is currently unavailable. We are resolving the issue and will update as soon as services are recovered."
In another error message, it said that it was experiencing heavy traffic to its services and urged people to login later.
Users commented on the bank's latest Facebook post about the latest outage.
In the first of these comments at about 5.58pm, a user said: "Your iBanking is down pls fix it!"
Customers reported being unable to access services on the DBS' mobile app and website platforms. Another user reported that he could "log in but can't make any transfer".
Many users also described their frustration at being unable to pay for food or drinks during dinner time.
The latest disruption comes two days after the Monetary Authority of Singapore (MAS) said that it would not seek to extend the six-month pause on the bank's non-essential activities.
MAS added that it will retain the multiplier of 1.8 times for DBS' risk-weighted assets for operational risk until the bank "has demonstrated the ability to maintain service availability and reliability, and handle any disruptions effectively".
The authority noted on Tuesday that DBS has since made "substantive progress" to address the shortcomings identified from the service disruptions last year, even as efforts to implement its remediation plan are ongoing.
MAS said it would closely monitor the bank's progress and the effectiveness of the measures.
"In the event of service disruptions, MAS expects DBS to promptly recover its services and communicate to its customers in a clear and timely manner," it said.
DBS said on Tuesday that being able to resume its activities "will not dilute its focus on strengthening technology resiliency and enhancing digital service availability".
DBS, POSB internet banking services restored after hours-long disruption
SINGAPORE: DBS and POSB internet banking and payment services have been restored after they went down for several hours on Thursday (May 2).
Services returned to normal at about 8pm, DBS said in an update on Facebook at about 8.15pm.
The bank said at 6.54pm – about an hour after the outage was first reported by users – that it was aware of the issues.
"We have identified the issue and have activated measures to recover the services," said the bank. "You can continue to use your DBS/POSB credit or debit cards to make payment."
It added that people could also use the ATMs nearest to them.
DBS Wealth clients could contact their relationship managers to place trades, while Vickers and mTrading customers should contact the Vickers hotline at 63272288 for help.
"Please be assured that your monies and deposits remain safe. We are sorry for the inconvenience caused," it added.
Downdetector showed that users started reporting disruptions with DBS internet banking services at about 5.45pm.
In a notice to users on its mobile app, DBS said: "Access to digital services is currently unavailable. We are resolving the issue and will update as soon as services are recovered."
In another error message, it said that it was experiencing heavy traffic to its services and urged people to login later.
Users commented on the bank's latest Facebook post about the latest outage.
In the first of these comments at about 5.58pm, a user said: "Your iBanking is down pls fix it!"
Customers reported being unable to access services on the DBS' mobile app and website platforms. Another user reported that he could "log in but can't make any transfer".
Many users also described their frustration at being unable to pay for food or drinks during dinner time.
The latest disruption comes two days after the Monetary Authority of Singapore (MAS) said that it would not seek to extend the six-month pause on the bank's non-essential activities.
CNA has contacted DBS for more information.
On Tuesday, MAS said that it would not seek to extend the six-month pause on non-essential activities that it imposed on DBS after the bank's multiple service disruptions in 2023.
MAS added that it will retain the multiplier of 1.8 times for DBS' risk-weighted assets for operational risk until the bank "has demonstrated the ability to maintain service availability and reliability, and handle any disruptions effectively".
The penalty was imposed in May 2023, up from the 1.5 times that was implemented in February 2022.
The authority noted on Tuesday that DBS has since made "substantive progress" to address the shortcomings identified from the service disruptions last year, even as efforts to implement its remediation plan are ongoing.
MAS said it would closely monitor the bank's progress and the effectiveness of the measures.
"In the event of service disruptions, MAS expects DBS to promptly recover its services and communicate to its customers in a clear and timely manner," it said.
DBS said on Tuesday that being able to resume its activities "will not dilute its focus on strengthening technology resiliency and enhancing digital service availability".
https://www.channelnewsasia.com/singapore/dbs-posb-internet-banking-services-down-users-payment-paylah-paynow-4308641