#BeAProAgainstCons with OCBC – empowering you to bank safely and securely

The Guidelines are issued by MAS to protect users of electronic payments. They aim to encourage wider adoption of e-payments in Singapore.

The Guidelines establish a common baseline protection that Financial Institutions will provide to individuals and sole proprietors from losses arising from unauthorised e-payment transactions from their protected accounts.

Protected accounts as defined in the Guidelines are those that:

• are held by either individuals or sole proprietors, including those held jointly by multiple account holders; and
• can hold a balance of more than S$500 or equivalent at any one time (Stored value facilities like EZ-Link card and NETS Cashcard are thus not covered by the Guidelines), or is a credit facility

The guidelines cover all payments initiated through electronic means, and where funds are received through electronic means. These include online payments and transfers.

The Guidelines set out your responsibilities as an e-payment user to adopt good security practices. These include how you should protect your device, login credentials, access codes and protected accounts.

We will provide you with transaction notifications and a reporting channel so that you may be alerted of unauthorised transactions and report them should they happen.

We will investigate claims of unauthorised transactions, with the aim of achieving a fair and reasonable resolution.

Please note that the Guidelines do not apply to scams or frauds, which will be investigated by the police.

The notifications safeguard you against unauthorised and erroneous transactions. They are to alert you of such transactions so that you may report them to us for quicker resolution.

Notifications will be sent by us for outgoing payments initiated through electronic means. These include online payments/transfers and debit/credit card transactions.

Some electronic transactions may not trigger notifications if they were not initiated or received through electronic means. Transactions initiated by us, such as credit card cashbacks, will not trigger notifications under the Guidelines.

The notifications you receive may also depend on your instructions to us. For instance, you may have instructed us that a notification be sent only for certain types of outgoing transactions or if a transaction is above a certain amount.

For Individuals:

We will update you with your transaction details by sending SMS notification alerts to your mobile phone number. You will receive instantaneous SMS alerts (or Push Notifications if enabled) when you make the following transactions.

Note: To find out which transaction alerts are available under Push Notification, click here.

*If your transaction exceeds S$50,000.00, we will send you SMS notification alerts irrespective of the alert setting.

^#You are unable to unsubscribe to this alert as it is mandatory.
^{^}Transactions initiated by the Bank, such as credit card cashbacks, will not trigger notifications.

For Sole Proprietors:

*Transactions initiated by the bank, such as credit card cashbacks, will not trigger notifications under the Guidelines.

Where you have set thresholds for transaction notifications previously, those thresholds will continue to apply. Otherwise, the default threshold set by us will apply.

Notifications may be sent via any of these channels:

You are automatically enrolled for notifications of outgoing transactions initiated through electronic means. This is applicable for new and existing customers (please refer to the default threshold limit set out in Question 7).

Please update us with your^* latest mobile number or email address to ensure that you receive the notifications.

^*in the case of sole proprietors, the person appointed at point of application/maintenance

This service is currently free.

The notifications are a safeguard against unauthorised and erroneous transactions. There is a default threshold limit set for certain types of transactions (refer to Question 7 above). Based on your payment patterns, you may wish to adjust your notification thresholds so that you receive notifications that are most relevant to you. For instance, you may wish to be notified only if the transaction is above a certain amount.

Your existing notification thresholds will continue to apply and you may visit the notification settings to change it anytime.

For Individuals:

You may choose to customise the alert settings via OCBC Online Banking. For those alerts with selection of threshold limit available (such as ATM/card transactions), you can change the alert threshold to your preferred setting.

For more enquiries, please call 1800 363 3333 or visit any of our OCBC branches.

For Sole Proprietors:

• For Corporate ATM Card, download Corporate ATM Services SMS Alert Update form
• For Business Debit Card, call 1800 363 3333
• For online banking settings call +65 6538 1111 or
• Visit any of our OCBC branches

To ensure you are kept informed of your account/transaction details, it is important for the bank to be updated with your current mobile phone number.

You may update your mobile phone number via the following methods:

For Individuals:

You may choose to customise the alert settings via the following methods:

• OCBC Online Banking or OCBC Mobile Banking app
• Any OCBC ATM or Kiosk
• Call 1800 363 3333 using your telephone PIN

For Sole Proprietors:

• For Corporate ATM Card, download Business Account Update form
• For Business Debit Card, download Change of Address/Contact Details form
• For online banking via https://velocity.ocbc.com
• Visit any of our OCBC branches

This could be an unauthorised transaction and you should inform the Bank immediately. Please provide the following information to us:

1. The bank account affected;
2. Your identification information;
3. The type of authentication device, access code/login credentials and device used to perform the payment transaction;
4. The name or identity of any account user;
5. Whether the account number, authentication device, or access code/login credentials was lost, stolen or misused and if so,
   • the date and time of the loss or misuse,
   • the date and time that the loss or misuse, was reported to you, and
   • the date, time and method that the loss or misuse, was reported to the police;
   • any access code/login credentials that is applicable to the account,
   • how the account holder or any account user recorded the access code/login credentials, and
   • whether the account holder or any account user had disclosed the access code/login credentials to anyone

We should complete an investigation of any relevant claim within 21 business days for straight forward cases, and up to 45 business days for complex cases.

For erroneous/unauthorised transactions on credit cards, charge cards or debit cards, the dispute resolution process established under the respective card scheme will apply.

You will not be liable for any loss that arises from any action or omission by us, if you have complied with your duties as an account holder. For losses due to any other independent third party other than you and us, subject to the below, you will also not be liable if the outgoing transaction value is within S$1,000.

You will, however, be liable if it is ascertained that the primary cause was recklessness on your part, such as failing to protect your access code/login credentials or access to your protected account. Your liability will be capped at the transaction limit or daily payment limit, where applicable.

In all cases, we will conduct an assessment to determine the appropriate liabilities and work towards a fair and reasonable resolution.

For transactions on credit cards, charge cards and debit cards issued in Singapore, the apportioning of liabilities is governed by the ABS Code of Consumer Banking Practice.

Please inform us as soon as possible. You may be facilitating criminal activities, such as money laundering and unlicensed money lending, if you knowingly receive money from strangers, dubious sources or other unverified sources. It is a criminal offence if your bank account is used to receive money linked to criminal activities or keeping erroneously sent funds.

Please contact us immediately to log your case. Reasonable efforts will be taken by us to recover the money sent, where possible. We and the receiving bank will facilitate communication between you and the recipient to help you recover the money that was sent wrongly.

If you fall prey to fraud and have played your part in protecting yourself from fraud (see below), we guarantee a full refund of any money that has been fraudulently transferred out of your account via OCBC Internet Banking or the OCBC Digital app (subject to our Terms and conditions governing Electronic Banking Services).

Our guarantee protects you if you had adopted the following measures:

• You have kept your hardware token secure at all times;
• You have not shared your security details with anyone (these include your Access Code, PIN and hardware token);
• You have equipped your computer or mobile device with the latest operating system security patches, anti-virus, anti-malware and firewall software. The installed software should be regularly updated to the latest version and run with latest signatures;
• You have followed our recommendations on Safeguarding Your Internet Banking Access and complied with all your obligations under the Terms and conditions governing Electronic Banking Services and the Terms and conditions governing Deposit Accounts;
• You have updated us immediately when there is a change in your contact details, such as mobile number and email address, for the purposes of receiving SMS or email notifications on online banking transactions and activities;
• You have updated us immediately when you change your mobile number for receiving One-time Password (OTP) via SMS; and
• You inform us immediately if:
  • You are aware of any suspected fraud, including any compromise or loss of your security device or security details;
  • You receive SMS or email notifications for transactions which you did not perform; or
  • You receive alerts notifying you of transactions^* that you do not know of and/or did not make, and you provide us with your full cooperation (including providing all the information we request).

^*i.e. Change in your daily withdrawal limit or addition of beneficiary/beneficiaries for funds transfer.