Customers can deposit funds during lucky timings via DBS PayLah! or avail themselves to over 350 DBS/POSB cash deposit machines islandwide
SINGAPORE, 1 February 2017 – On 3 February this year, also known as “Li Chun” on the Chinese calendar, Singaporeans will be able to make deposits to their bank accounts while on the go via their DBS PayLah! mobile wallets. Available to users from all Singapore banks, DBS PayLah! users can skip having to bank in cash physically on “Li Chun” and simply make electronic money deposits during their “lucky timings”.
Depositing on “Li Chun” with DBS PayLah!
Over the last few years, Singaporeans have taken to the practice of making cash deposits to their bank accounts on “Li Chun”. According to a guide put up by fengshui firm Chang Consultancy, different timings are advised for people to bank in money on 3 February based on their Chinese zodiac sign. This year DBS PayLah! users stand to win SGD 88 when they send an eAng Bao during this Chinese New Year, and double their chances when they deposit money into their bank account from their PayLah! wallet on “Li Chun” day. The draw is open to 100 lucky winners. New users also get SGD 5 when they download DBS PayLah! with the promo code ‘PAYLAHCNY’. For more details, please visit www.dbs.com.sg/personal/promotion/paylah-cny.
Mr. Jeremy Soo, Managing Director and Head of Consumer Banking Group (Singapore), DBS Bank, said, “We’ve been very encouraged by how quickly customers have come to embrace our alternative and digital channels for the Chinese New Year. Last year, customers were quick to take advantage of the convenience provided by DBS PayLah! during Li Chun, with the number of account deposit transactions spiking a whopping 47 times on that day. We also understand that this is the time when parents and younger customers start to deposit cash from their red packets. With this in mind, we have converted some of our popular new notes pop-up ATMs so they have now cash deposit functions, alongside our network of some 350 cash deposit machines. Our aim is to provide customers with more innovative and convenient options to help meet their banking needs during this festive season.”
POSB new notes pop-up ATMs converted to accept cash
Eight POSB new notes pop-up machines will also be converted to accept and dispense cash, and will be available for use in time for “Li Chun”. These eight machines will be located at eight community clubs – Toa Payoh West, Toa Payoh Central, Bedok, Yew Tee, Chong Pang, Henderson, Clementi and Jurong Spring. The machines in Toa Payoh West and Chong Pang will open from 9am to 10pm daily while the remaining machines in other locations will be fully operational round-the-clock – a key benefit to customers who wish to deposit their Chinese New Year funds. Customers can also avail themselves to over 350 DBS/POSB machines with cash depositing functions islandwide. To find out where these machines are located, please visit www.dbs.com.sg/index/locator.page.
Sending eAng Baos with DBS PayLah!
DBS was the first in Singapore to introduce eAng Baos via DBS PayLah! in 2015 and it was quickly adopted by users for the Chinese New Year season. The eAng Bao provides customers with a digital alternative that allows them to carry on the tradition of red packet-giving with their families and friends even if they’re apart. Last year, during the Chinese New Year season, some 20% of DBS PayLah! money sending transactions were in the form of eAng Baos. More eAng Baos are also used – up to 3.5 times as much – during festive seasons. The number of eAng Bao transactions last year also grew by 30% compared to 2015.
POSB new notes pop-up ATMs return to massive demand in 2017
This year, the POSB new notes pop-up ATMs saw a record number of transactions flow through averaging more than 22,000 transactions a day, some 67% higher than last year, and more than double than in 2015. Since its debut in 2015, the POSB new notes pop-up ATMs continue to see large increases in demand. The ATMs served more than 138,000 customers this year, 61% higher than last year. Total withdrawn amounts increased 80% this year with over 14 million in new notes issued, compared to 8.6 million for last year, and 6 million in 2015.
This Lunar New Year, you can receive a prosperous S$28 Hong Bao from DBS/POSB when you open a new Deposit Account or an eMySavings/SAYE Account online!
This is easily achievable if you create a new Deposit Account as you can just deposit a minimum of S$3,000 into your newly opened account and maintain a minimum average balance of S$3,000 for at least 6 consecutive months.
You can create a new Deposit Accounts such as:
Multi-Currency Accounts: Multiplier Programme
Day to Day Accounts: POSB Everyday Savings Account
Current Account: POSB Current Account
Special Savings Accounts: POSB SAYE Account or POSB eMySavings Account
Most of us have a POSB Passbook Savings Account, so you can simply open a new account (i.e POSB Everyday Savings Account) and deposit $3K into it (without withdrawing it for 6 months) to earn the S$28 cash hong bao.
Each customer is only entitled to 1 Cash Gift. All Cash Gift will be credited to the Deposit Account or eMSA/SAYE Account before 30 April 2017. Eligible customers will receive a notification SMS after the Cash Gift is credited into their account.
DBS is entitled to recover the Cash Gift by debiting the same from any account that the customer has with DBS/POSB without prior notice, if during the 6-month Period:
(a) the Deposit Account or eMSA/SAYE Account is closed;
(b) customer fails to maintain a minimum average daily balance of S$3,000 for the Deposit Account or customer fails to have salary crediting into the Deposit Account;
(c) the monthly contribution of eMSA/SAYE Account is lowered or not successfully credited in any of the months or withdrawal is made from the eMSA/SAYE Account.
For more information on this promotion, click here.
With Chinese New Year coming up in a couple of weeks time, it’s about time to get new and good-as-new notes to welcome the Lunar New Year.
From January 11 onwards, customers will be able to withdraw new and good-as-new notes at 41 POSB new notes pop-up ATMs located in 22 community clubs across the island, an increase from the 36 ATMs in 12 community clubs last year.
Customers will be able to use their DBS/POSB ATM card to withdraw new notes in sums of SGD 100 (SGD 2 x 50), SGD 300 (SGD 10 x 30) and SGD 500 (SGD 50 x 10), up to their individual card limit.
This year, DBS/POSB is also offering customers the option to reserve their new and good-as-new notes online. With just a few simple clicks, customers can choose from a flexible combination of denominations and select their preferred collection dates at all full-service branches. From 9 January onwards, customers can visit go.dbs.com/sg-cnynotes to reserve their new and good-as-new notes.
SMS Q for DBS/POSB full-service branches
Customers are also able to get their new and good-as-new notes at all full-service DBS/POSB branches from January 11 to 27. Special priority queuing will continue to be available for the elderly and those with special needs. Customers will be able to use the SMS ‘Q’ notification service option, where they can request for a queue number via SMS prior to visiting the branches and receive notifications on the number of customers ahead of them. Customers can find their nearest branch’s respective SMS number at www.dbs.com.sg/personal/deposits/bank-with-ease/sms-q
Depositing on “Li Chun” with DBS PayLah!
Over the last few years, Singaporeans have taken to the practice of making cash deposits to their bank accounts on “Li Chun”. According to a guide put up by fengshui firm Chang Consultancy, different timings are advised for people to bank in money on 3 February based on their Chinese zodiac sign. This year 
