On 3 February 2017, also known as “Li Chun” on the Chinese calendar, Singaporeans will be able to deposit money 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 deposit money physically for Li Chun 2017 and simply deposit money electronically during their “lucky timings”.
Depositing money for Li Chun 2017 with DBS PayLah!
Over the last few years, Singaporeans have taken to the practice of depositing money 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 deposit money on 3 February 2017 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 (CNY), and double their chances when they deposit money into their DBS/POSB bank account from their DBS 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 in time for Li Chun 2017
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 2017. These eight machines will be located at eight community clubs – Toa Payoh West, Toa Payoh Central, Bedok, Yew Yee, 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 CNY money. 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 CNY 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 CNY 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 for CNY 2017
This CNY, 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. The total amount withdrawn increased by 80% this year with over 14 million new notes issued, compared to 8.6 million last year, and 6 million in 2015.
DBS - Living, Breathing Asia
DBS is a leading financial services group in Asia, with over 280 branches across 18 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's capital position, as well as "AA-" and "Aa1" credit ratings, is among the highest in Asia-Pacific.
DBS is at the forefront of leveraging digital technology to shape the future of banking, and has been named “World’s Best Digital Bank” by Euromoney. The bank has also been recognised for its leadership in the region, having been conferred “Asia’s Best Bank” by The Banker and Euromoney, and “Asian Bank of the Year” by IFR Asia. The bank has also been named “Safest Bank in Asia” by Global Finance for eight consecutive years from 2009 to 2016.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 22,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.