DBS, POSB customers can withdraw cash at Guardian, Sheng Siong stores in Singapore

Angela Tan
Published Thu, Nov 6, 2014 · 02:02 AM

DBS Bank customers can now make cash withdrawals at all Guardian Health & Beauty and Sheng Siong stores in Singapore as the bank expands its POSB Cash-Point.

With this expansion, DBS/POSB has effectively increased its withdrawal touchpoints to close to 2,000 islandwide, solidifying its presence in town and in the heartlands.

The banking group said DBS/POSB customers are now able to withdraw up to S$100, in multiples of S$10, with any item purchase at more than 140 Guardian Health & Beauty and over 30 Sheng Siong stores in Singapore.

Customers can enjoy the complimentary service using a DBS/POSB debit or credit card linked to a savings account. From now till the end of the year, the first 500 customers every day who make cash withdrawals at these stores will also have an additional S$5 credited into their accounts.

Since 2011, the bank has formed strategic alliances with organisations such as SingPost to extend banking beyond traditional touchpoints. In July 2013, the banking group partnered 7-Eleven, allowing customers to make withdrawals at over 500 stores islandwide.

The implementation of POSB Cash-Point has seen strong traction with an increase of close to 50 per cent from the previous year in withdrawals made at these stores.

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