DBS Bank

DBS Partners Singpost to Nearly Double Number of Banking Outlets to 140

Press Release   •   Nov 10, 2011 16:04 +08

Strategic alliance offers greater banking convenience to both DBS and SingPost customers

DBS Bank Ltd (DBS) and Singapore Post Limited (SingPost) today announced a landmark partnership to offer basic banking services at all SingPost's outlets from 3 January 2012. This first-of-its-kind tie-up in Singapore between a postal service provider and a bank will enable DBS/POSB customers to conduct banking transactions at 140 outlets, up substantially from the bank’s 80 branches today.
Banking services available to DBS/POSB customers at post offices include cash withdrawals and cash deposits. In addition, customers can also submit a POSB Everyday Savings Account application form through a SingPost’s outlet as an additional convenient touchpoint. DBS corporate banking customers also have the option of depositing cash bags at four SingPost outlets, namely Bukit Batok Central Post Office, Jurong West Post Office, SingPost Centre Post Office and Yishun Central Post Office.
In 2010, DBS introduced mobile banking and expanded its self-service banking network to over 1,300 ATMs and Cash Acceptance Machines (CAMs) to provide its customers with more round-the-clock banking options. The collaboration between      DBS and SingPost will enable Singaporeans to enjoy even greater convenience with the expanded network of banking outlets in town and within the heartlands.
Mr Jeremy Soo, Managing Director and Head of Consumer Banking Group Singapore, DBS Bank said, “Today, DBS already has the largest number of banking touchpoints in Singapore. This collaboration with SingPost translates into even greater banking convenience for our four million customers when they visit the post office. Earlier in January, we partnered SingPost to offer the new notes exchanges during Chinese New Year at selected post offices. I am extremely pleased to see this relationship deepening further, now as to bring banking services to our customers at all SingPost’s outlets.”
Mr Loh Choo Beng, Executive Vice President (Retail & Financial Services), SingPost said, “SingPost has been transforming to stay relevant and close to our customers.   We have been bringing key services to our customers including e-Government services. This collaboration with DBS/POSB is another effort to provide a higher level of convenience to our customers.  By making basic banking services available at our counter, we give our customers a choice to have their banking needs met as they come to us to buy stamps, pay bills, remit money or complete other transactions.”
In recent years, DBS and SingPost have introduced a number of innovative initiatives to maximise the efficiency of their existing networks and to extend their reach within the community. This latest partnership serves to bring greater one-stop convenience to both DBS and SingPost customers.
For more information, please visit DBS Bank website www.dbs.com.sg or SingPost website www.singpost.com.
About DBS
DBS - Living, Breathing Asia
DBS is a leading financial services group in Asia, with over 200 branches across 15 markets. Headquartered and listed in Singapore, DBS is a market leader in Singapore with over four million customers and also has a growing presence in the three key Asian axes of growth, namely, Greater China, Southeast Asia and South Asia. The bank's strong capital position, as well as "AA-" and "Aa1" credit ratings that are among the highest in the Asia-Pacific region, earned it Global Finance's "Safest Bank in Asia" accolade for three consecutive years, in 2009, 2010 and 2011.
DBS provides the full range of services in consumer, SME and corporate banking activities across Asia and the Middle East. As a bank born and bred in Asia, DBS also understands the intricacies of doing business in the region’s most dynamic markets. This market insight and regional connectivity have helped to drive the bank’s growth as it sets out to be the Asian bank of choice. The bank believes that building lasting relationships with its customers is an integral part of banking the Asian way.
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 18,000 staff, representing over 30 nationalities.  For more information, please visit www.dbs.com.
About Singapore Post Limited
(Reg. No. 199201623M)
Singapore Post Limited (SingPost) is a leading provider of mail, logistics and retail solutions in Singapore and the Asia Pacific region. It is the designated Public Postal Licensee (PPL) for Singapore providing domestic and international postal services as well as end-to-end mail solutions such as data printing, letter-shopping, delivery and mailroom management. As a logistics provider, SingPost offers domestic and international door-to-door delivery services, including express delivery (Speedpost) along with warehousing, fulfilment and distribution services. SingPost owns one of the largest retail distribution networks in Singapore with its extensive tri-channel network of post offices, Self-service Automated Machines (SAM) and the online shopping and shipping portal vPOST. SingPost was listed on the Main Board of the SGX-ST on 13 May 2003. The company has won many awards and accolades. It is the only postal company in the world to have won the Express Mail Service (EMS) Cooperative Certification Gold Level Award by the Universal Postal Union for its Speedpost Worldwide Courier Service for 10 consecutive years since 2001. It was also named runners-up in the “Most Transparent Company Award 2010” for the fifth consecutive year in the SIAS Investors’ Choice Awards.  

Annex A: DBS Banking Services at SingPost Outlets