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Retail and Wealth: Singapore

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Important update – 6 August 2017

The transfer of ANZ Singapore's Retail and Wealth business to DBS was completed on 5 August 2017 and any financial products, accounts and credit facilities held by ANZ Retail and Wealth customers have been transferred to DBS.

For information on DBS Personal Banking and Wealth Management products and services, please visit dbs.com.sg/anzwelcome.

Key information

  • On Monday 31 October 2016, we announced that we entered into an agreement with DBS Bank Limited (DBS) where DBS will acquire ANZ's Retail and Wealth business in Singapore, Hong Kong, China, Taiwan and Indonesia.
  • The sale will enable us to focus our business in Asia on Institutional Banking where we are ranked a top four corporate bank with a significant presence in 15 countries in the region.
  • The transfer of the Singapore Retail and Wealth business to DBS was completed on 5 August 2017.

Frequently Asked Questions

  1. What was transferred to DBS?
  2. All your financial products, accounts and credit facilities which were in place or outstanding with ANZ Singapore prior to the transfer were migrated to DBS. Your ANZ accounts were mapped to corresponding products at DBS. DBS will provide more information on your new DBS accounts, including the new terms and conditions.

  3. Where can I find out more?
  4. Now that the transfer is completed, you can expect to receive a DBS welcome letter and details on your new banking relationship with DBS. Full details on DBS products and services are available at dbs.com.sg/anzwelcome.

    From early July, DBS started sending out new ATM, debit and credit cards, PIN numbers and DBS Cashline chequebooks that replace the existing ones you may have held with ANZ. Now that the transfer is completed, DBS will provide information on how to activate your new cards and when you can start using them.

  5. Has my account number changed?
  6. 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 was closed upon transfer to DBS.

    Once you have successfully activated your DBS products, and confirmed that you have no further need for your ANZ cards such as for booking validations or any other reason, please securely dispose of your ANZ cards, ANZ digital banking token, and ANZ chequebook (please note that ANZ cheques issued after the transfer will not be processed).

  7. Will I be able to access ANZ Digital Banking?
  8. After the transfer, ANZ Digital Banking will cease and you will no longer be able to log in. You can view your new DBS accounts via DBS digibank.

  9. Were my loans and outstanding balances with ANZ transferred to DBS?
  10. Yes. Any outstanding balances on your existing loans or credit facilities with ANZ were transferred to DBS.

  11. I had a Relationship Manager at both ANZ and DBS, who will manage my accounts with DBS?
  12. DBS will notify you of the Relationship Manager assigned to support you. For ANZ Signature Priority customers and ANZ Private Wealth customers, many of you can look forward to having the same Relationship Manager continue to manage your account at DBS.

  13. If I have existing relationships with ANZ in more than one country, will my accounts across all jurisdictions be moved together to DBS?
  14. ANZ has entered into an agreement with DBS Bank Limited (DBS) where DBS will acquire 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.

  15. Were my existing DDA & GIRO Standing Instructions (SI) transferred over to my new account in DBS?
  16. Some types of standing instructions (e.g. GIRO and direct debits) were transferred to DBS. Some will need to be re-established after the transfer. Please refer to the Standing Instruction table (Table 1 – link at top of the page) for further details.

  17. I have set up recurring payments via ANZ Digital Banking, what will happen to my standing instructions?
  18. All standing instructions set up via ANZ Digital Banking ceased on the transfer date. Now that the transfer is completed, you will have to set up this arrangement via DBS digital banking.

  19. I have issued a few cheques from my ANZ account. Will these cheques be returned when they are banked in for deposit?
  20. ANZ cheques issued from individual accounts before the transfer date will remain valid, subject to the cheque validity dates.  Those that are issued on or after the transfer date will no longer be valid.

    Full details on DBS products and services are available at dbs.com.sg/anzwelcome.

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