Singapore Biggest Bank DBS/ POSB ATM & Online Banking FAIL!!

Singapore Biggest Bank DBS/ POSB ATM & Online Banking FAIL!! - 05/07/2010

August 12th, 2010

SINGAPORE : The banking network of Singapore’s largest lender DBS and sister bank POSB crashed on Monday morning when a technical glitch affected its entire online system for over seven hours. The banking outage sparked anger and frustration among customers who needed to access the system urgently. It is not a good start to the week for 44-year-old Teo Thiam Chye. At 8 in the morning, the engineer tried to log on to DBS Bank’s online banking services, only to find that the system was down. And worse still, he discovered that DBS Bank’s ATMs across Singapore were out of service. Mr Teo, a DBS customer, said: “What if we need cash urgently? The reason why I want to access the Internet is that I need to check whether my cheque is cleared. I’ve a cheque that I banked in that I’m expecting to clear by today, and all this information I can’t get (at).” Mr Teo is not the only unhappy customer. Numerous customers also called Channel NewsAsia’s hotline to complain about not being able to use the bank’s ATMs. Ms Daisy Wong said: “(At) 8.30, I came down to withdraw money, but the ATM - all spoilt. (I was) so frustrated because I need to do marketing. So I went back home again.” Scores of DBS and POSB customers took to the social media to vent their anger. Some said they had visited as many as five different ATMs, but were left cashless and unable to top up their cash cards to pay for Electronic Road Pricing (ERP). The breakdown was reported as early as 6.30am. DBS said it regrets …