Top Stories


    Aug 17, 2016

    POSB debuts S'pore's 1st video teller machine

    TIRED of waiting in line? POSB launched

    its first video teller machine (VTM) at its branch at the Institute of Technical Education (ITE) College Central yesterday, with six more to come by year-end.

    Touted as the first of its kind in Singapore, the machines will provide round-the-clock branch banking services to customers, with the option of "face-to-face" assistance from bank tellers via live-video streaming, parent firm DBS Bank said in

    its announcement yesterday.

    Besides providing services such as change of particulars or Giro and fixed-deposit arrangements, the POSB VTMs will also be able to dispense Internet banking security tokens as well as debit and ATM cards instantly.

    DBS and POSB receive some 45,000 requests per month for replacement debit or ATM cards, and 7,500 requests per month for replacement Internet banking tokens,

    said DBS.

    The pilot machine at ITE College Central in Ang Mo Kio can be accessed by the public from 10am to 2pm on weekdays and 10am

    to 1pm on Saturdays.

    Selected functions, including Internet banking token replacement, areavailable.

    More POSB VTMs will be progressively introduced to selected branches. The machines are expected to run

    with their full capabilities and be

    made available 24 hours by the end of the year, said DBS.

    For POSB, VTMs

    will help it serve customers without necessarily requiring more branch space or increase in manpower.

    To use the POSB VTMs, customers will need to have valid ID (such as identity card

    or passport)

    or their ATM card

    for verification.