Key announcement materials
When will my accounts move to DBS?
We are pleased to let you know that the transfer has been approved by the Singapore Court and will take effect from Saturday, 5 August 2017, subject to the successful IT migration between ANZ and DBS. From this time, any financial products, accounts and credit facilities you hold with ANZ will be transferred to DBS and you will become a customer of DBS.
How does the sale impact my banking with ANZ?
There are no immediate changes to your banking relationship with us; your existing terms and conditions, repayments, interest rates, fees and charges as well as benefits will continue to apply until further notice.
If there are any actions you need to take, we will contact you directly. In the meantime, you can continue banking as usual with ANZ.
Do I need to do anything to move my bank account to DBS?
No, you don't need to do anything to move your bank account to DBS. All your bank accounts that are in place or outstanding with ANZ on the completion date will be transferred to DBS. ANZ and DBS are working closely together to ensure a smooth transition for you, and we will continue to keep you updated throughout the transfer process.
When will I find out more?
We expect to provide you with details on the transfer arrangements no later than one month before the transfer date.
As an ANZ customer can I now access DBS products and services?
As an ANZ customer, you do not have access to any DBS products or services beyond any arrangements you may already have with them.
For the time being, you should continue to use ANZ branches, ATMs, products and services.
If I am already a DBS customer, what will happen to my ANZ accounts?
All ANZ customers will have new accounts set up at DBS. Any accounts you already hold with DBS prior to the transition will not be affected as a result of this transfer.
What will happen to deposit insurance for my SGD deposits in ANZ that are being transferred to DBS?
ANZ SGD Deposits being transferred to DBS will still be insured up to $50,000 for a year from the transfer date.
For example: a customer that has $60,000 with ANZ and $30,000 with DBS prior to the transfer date would be insured for a total of $80,000 ($50,000 from ANZ + $30,000 from DBS). After the transfer date, the customer would continue to be insured for a total of $80,000 during the additional one-year cover period.
*SDIC (Singapore Deposit Insurance Corporation) administers the Deposit Insurance Scheme, where a depositor of a member bank or finance firm is automatically insured up to an aggregate of $50,000 for each person depositor per scheme member. The total protection amount depends on the depositor's balances with the respective scheme members as at the transfer date.
Am I required to give consent for the transfer of my products?
The transfer of the ANZ Retail and Wealth business in Singapore is effected through the Scheme of Transfer approved by the High Court of Singapore. Under this Scheme, your banking relationship with ANZ will be transferred to DBS and there is no consent required from you. ANZ will contact customers to obtain their consent if required for certain products or contracts.
How will my accounts be transferred to DBS?
Your ANZ accounts will be mapped to corresponding products at DBS. You will be given more information on your new accounts with DBS, including the terms and conditions, closer to the date of transfer.
Will my account number change?
Yes, you will be given a new account number and DBS will advise you of your new account details as part of the transfer. Your ANZ account will be closed upon transfer to DBS.
Can I access ANZ internet banking after the date of transfer to DBS?
Upon transfer to DBS, ANZ Digital Banking will cease and you will no longer be able to log in. DBS will provide you with more information on how to access DBS' suite of digital services closer to the date of transfer.
In the meantime, you can continue to access your ANZ Digital Banking as usual. We will notify you of any changes to this service in advance.
Do I need to pay off my loans or outstanding balances prior to transfer to DBS?
You do not need to close off any loans or outstanding balances as part of this transfer process.
Any outstanding balances on your existing loans or credit facilities with ANZ will be transferred to DBS. In the meantime, you should continue to make your loan, credit card or other payments as usual.
I have a Relationship Manager at ANZ and DBS, who will manage my accounts on transfer to DBS?
Your ANZ Relationship Manager will continue to manage your accounts before the transition. Once your accounts are transferred to DBS, DBS will notify you of the Relationship Manager assigned to support you.
If I have existing relationships with ANZ in more than one country, will my accounts across all jurisdictions be moved together to DBS?
ANZ has entered into an agreement with DBS to sell ANZ's Retail and Wealth business in Singapore, Hong Kong, Taiwan, China and Indonesia.
The transition will take place in a phased approach. If you have an account in another jurisdiction, you will be notified of the date of transfer and any relevant impacts or actions required by you in that country.