Information on Migration of Internet and Mobile Banking
The world’s best digital banking experience is coming soon!
Your digital banking experience is about to get elevated with digibank by DBS - your digital banking partner. Your erstwhile LVB internet and mobile banking platforms will soon be migrated to digibank by DBS. Please note that once the migration process is completed, Lakshmi Vilas Bank’s internet and mobile banking applications will no longer be accessible.
The following are pre-requisites to link your LVB bank account on digibank by DBS internet banking or mobile banking app:
- You hold a valid Debit Card and PIN – your existing debit card and current PIN (Personal Identification Number) will be valid if the expiry date of your debit card is not before the migration date
- Your mobile number is registered with us, and a unique mobile number is linked with your Customer ID
- Your email address and PAN are registered with us. This will enable you to retrieve your login credentials in case you forget your login credentials.
In case you need further assistance, please walk into your nearest branch.
Other important changes you need to know about this migration:
- Post-migration to digibank by DBS, you will be able to view and change your daily fund-transfer limit. You will be able to transfer funds within the defined limit of up to Rs. 5 Lakh for Mobile Banking, and up to Rs. 20 Lakh (depending on savings account defined limits) for Internet Banking. The above-mentioned limit is applicable for:
- Transferring funds to other DBS Bank accounts
- Transferring funds to other bank accounts (IMPS, NEFT, RTGS & UPI)
- Overseas remittances
- Payment via the merchant's website
- Utility bill payments e.g., DTH, mobile prepaid, electricity, etc
- Account statements for a period before the migration will not be available on digibank by DBS online banking platforms. Please reach out to our contact centre or visit your nearest branch to request earlier statements
- With digibank by DBS, you will be able to instantly download monthly account e-statements for the period after the migration.
- Your transactions through the digibank app will be secured by a virtual soft token eliminating the need for OTP (One Time Password) making your online transactions even more secure
- The addition of a new payee/biller will be available only through the digibank app
- The option to choose the frequency of interest payout for a new fixed deposit would be available only through the branch
- If you already have a digibank account, there is no action needed from your side and your existing Lakshmi Vilas Bank Savings Account will automatically migrate under the existing digibank by DBS app profile
Experience Instant, Intelligent, and Intuitive digital banking with digibank by DBS
- Manage multiple accounts from different banks via UPI in a single app
- Quick and easy digital payments with Scan & Pay, UPI and Bill pay
- Same-day international money transfers at zero fees
- Invest in Mutual funds in a flash with Morningstar 5-star rated funds
- Instant & paperless personal loans
- No wait time for new beneficiary fund transfer
- Intelligent alerts to help you stay on top of your spending and savings
You can continue to get access to the following from your nearest branch:
- Cheque-positive Pay services through branch or contact centre
- Servicing of loans and overdrafts against Term Deposits through branches
Frequently Asked Questions
Will mobile banking, internet banking & UPI /other services be unavailable during the technical migration?
Will I need to apply for a new mobile banking app/internet banking access post the banking system migration?
What are the mandatory requirements to register on digibank by DBS mobile app or internet banking?
To register on the digibank by DBS app, you must have an active savings / individual current account, a debit card with a valid PIN and your mobile number must be registered with the bank. Please visit your branch if you need to submit a request for any of these details.
Will my mobile banking & internet banking login credentials change?
Are LVB customers required to update their mobile number or email again with DBS Bank for availing mobile / internet banking services?
I have accounts in both DBS and LVB. Will I be able to access/operate both my accounts in the digibank mobile app or internet banking?
If you have an account with DBS Bank and are already registered on the digibank app, then you can operate/access both accounts seamlessly without any registration process.
Will my registered payees be available after mobile banking & internet banking migration?
Will my registered billers be available after mobile banking & internet banking migration?
What will be mobile banking & internet banking transactions limit post migration on the digibank platform?
- Transferring funds to other DBS Bank accounts
- Transferring funds to other bank accounts (IMPS, NEFT, RTGS & UPI)
- Overseas remittances
- Payment via the merchant's website
- Utility bill payments e.g., DTH, mobile prepaid, electricity, etc
Do I need to register for UPI again when doing transfers within the DBS mobile banking app? Will my LVB UPI ID work post-migration to the digibank app?
Which bank should I select while using internet banking, to make online payments on merchant websites (e.g., e-commerce, ticket bookings, etc.)?
What will happen if I do a transaction through IMPS / UPI with the old LVB IFSC Code?
All IMPS / UPI transactions done using the old eLVB IFSC Code may be declined, as the old eLVB IFSC codes had been surrendered in February 2022. Communication regarding the same was sent to customers, advising them to use the new IFSC codes.
Can I register on digibank mobile or internet banking, if I do not have any Savings account but have a fixed deposit account(s) and/or loan account(s) with LVB?
Customers not holding a savings account can only access/operate their fixed deposit account(s) and/or loan account(s) through our branches. To register on digibank mobile/internet banking, customers must have an active savings / individual current account, a debit card & PIN and their mobile number should be registered with the bank.
Are PAN and Email address mandatory for digibank mobile or internet banking registration? I have a PAN / Email address, which is not yet updated in my bank records.
Will I be able to generate DEMAT statements in the digibank App or internet banking?
Can I use the digibank app or internet banking in any other language other than English?
Will my debit card be migrated to DBS with my account, and will I be able to block and replace the debit card through the digibank app?
Can I close my fixed deposit through the digibank mobile app? Is there any penalty for pre-mature withdrawal of the deposit?
Yes, you can close your fixed deposit on the digibank app if it is held singly. In case of a fixed deposit held jointly, the closure request must be submitted at the branch. In case of premature closure, a penalty of 1% will be levied. However, a Tax Saver Fixed Deposit cannot be prematurely closed before its maturity date.