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DBS introduces SMS banking

img_2070DBS Bank customers can now perform simple banking transactions through SMSs. They can check account balances and transfer funds to their own accounts using this service. The customers will have to register for the SMS Banking service. The new service can also be used to activate new debit and credit cards or enable the cards’ magnetic stripes for overseas use without prior registration. The Singapore bank said in a statement that many consumers are more familiar with the SMS function and have used SMS to make service requests or to participate in marketing promotions. In 2013, more than 2 million stand-alone balance inquiries were performed at ATMs each month, DBS said. Compared to 30 seconds at an ATM, a balance inquiry takes only 10 seconds to complete via SMS Banking.

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