SINGAPORE: A payment processing glitch resulted in duplicate transactions on some DBS debit and credit cards, said the bank on Friday (Jun 18).
DBS first tweeted about the issue at about 11.20am on Friday, assuring affected customers that any duplicated transactions will be refunded.
In an update at 7.50pm, DBS said the glitch had been resolved.
"The automatic refund process is now under way and will be completed by this weekend," it said in a Facebook post.
"Please be assured that our systems remain safe, secure, and uncompromised. We’re sorry for any undue anxiety and inconvenience caused."
Scores of customers posted comments on the bank's Facebook page saying they had experienced duplicate transactions.
Several Facebook users said the transactions caused their bank account to fall into a negative balance.
The DBS and POSB mobile apps were also inaccessible for some customers, and many reported being unable to get through the bank’s customer service hotline.
"SAVINGS ALMOST WIPED OUT"
A CNA reader who wanted to be identified as Ms Chua said she was left with only S$10 in her POSB account.
The 31-year-old administrative executive found out about the duplicate transaction issue on Friday morning, after her friend sent her a message asking her to check her bank account.
“After checking my account, I realised my savings was almost wiped out,” Ms Chua said.
She said the duplicate transactions were mainly payments to merchants since Jun 14.
The Monetary Authority of Singapore (MAS) said it had been informed by DBS of "a technical fault" in its payment processing system.
DBS has been instructed to conduct a thorough investigation and submit a report to MAS.
"Supervisory actions will be taken if the bank has fallen short of MAS’ expectations," said an MAS spokesperson.
"We expect all financial institutions to put in place processes to ensure the reliability of their IT systems and the effective delivery of financial services to their customers."