It is easy to make an internet banking transfer with DBS Bank. You only need to come prepared.
I have made many transfers before and now come prepared with the token, mobile phone, screwdriver, pliers and torchlight (in case I have to open up my computer when the system hangs)..
I usually have to go through a complicated process to authenticate the payee and then to remove it. What is in the small white container next to the torchlight? Some headache ointment!
11 comments:
That is a good one!
I have a solution. Call DBS's RM, they will make all your money disappear in no time. Now, like me, you do not have any money to transfer. Problem solved :)
I have not encountered any problems so far. My only fear is entering the wrong account number of the payee, but if I do it right the first time, it should remain correct for subsequent transfers.
If I'm transferring a big amount, I send $1 first and send the rest after getting a confirmation that the amount has been received. So if I get the account number wrong, that mistake costs only $1.
Thankfully, I had never had to resort to using a screwdriver, a pair of pliers or a headache pill :-)
Hi Carne
I also fear entering the wrong amount or making the payment to the wrong party.
With so much hassle given by the bank, the risk of making this type of mistake is quite high.
The DBS website somethings hang and do not respond correctly. Guess what? I have made mistakes and luckily detected in time.
I suspect that all of these unnecessary "security measures" are imposed by MAS. Instead of improving security, they actually made things much worse!
My friend gave me the wrong bank acount number.
After going through the authentication process, and confirming by entering the PIN received on my mobile phone, it did not tell me that the bank account was wrong and that the bank account that I painfully authenticated did not exist.
Mindless people imposing impactical requirements. Could not even detect that the transfer is being made to a non-existing bank account.
i dun do many IB transfers but my wife does! almost every week to many different accounts cos she order stuffs online. i believe a certain level of security is necessary, DBS / POSB should send / issue all pins through our mobile phone only. no need extra hardware token. should reduce the hassle a bit.... open up computer?? maybe need to upgrade to new one liao....
Citibank online bank is more user friendly, maybe technology is more US centric and more updated. Confirmation is done thro sms, not hardware token. Token is old tech.
They do not charge for current acc and give free cheques, even for low income earner like me.
So I made the switch from dbs.
Now citi is my "national" bank. Sad.
When applying for IPO DBS has the most screens to go thru to protect the bank. OCBC is fast and nimble
Hi Mr. Tan,
I have both authentication systems (used by different banks) and I actually find using hardware token easier and faster than SMS. It would be better if the different banks share the same token.
I also have not encountered any problem using the DBS online system.
To sst.parents2009:
We should not have this "colonial" attitude and think that Ang Mo or US systems are always better. Not their banking system anyway.
hi hw
The 2FA token is okay. When you make an internet transfer to an existing payee (who is already registered, it is also okay).
The process is quite tiresome:
a) login with user name and password
b) authenticate with 2FA
c) make the transfer
d) authenticate again with 2FA.
Quite a number of steps.
When you have to register a new payee, it becomes more painful. You have the additional step of registering the payee and authenticate it with a SMS sent to your mobile phone. Make sure you have the mobile phone with you. Entering the PIN number is also quite troublesome, as DBS sent you a number that is 12 characters long.
Once, the registration failed (due to a fault in the DBS system) and I had to create the payee all over again.
As this is a once off payee, I had to delete it.
I also receive SMS to confirm the transfer.
It requires so many steps, so many numbers to enter, just to make a small payment.
Hi hw,
US banking system may be going downhill, but they are good in internet technology and software design, guess we can learn the good and discard the bad.
Have you tried using Citi internet transfer? Do tell us in a forum and share with us.
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