DBS to roll out money lock feature on existing bank accounts

IN THE coming weeks, DBS will be extending its money lock feature – aimed at mitigating scam losses – to other types of accounts and products, including existing bank accounts.

Customers of DBS will be able to enable the digiVault function on their existing bank accounts, without needing to open a separate account, said head of consumer banking group (Singapore) Jeremy Soo.

“To ensure that we continue to address customers’ needs amid the evolving landscape, we constantly review how to enhance our security features,” Soo said.