DBS recently announced that it was experiencing a payment processing glitch. The glitch caused multiple duplicate transactions, which saw some customers losing all the funds on their cards.
The bank now claims that all those accidental transactions have now been reversed, with all affected customers completely reimbursed.
In a statement published on its website, DBS said: “We have refunded the duplicate transactions affecting debit cards, credit cards, and cashline accounts. We are sorry for any undue anxiety and regret the inconvenience caused,”
In another post via its official Facebook page, the firm also said that all fees charged for those duplicate transactions will be waived, adding that customers can now rest assured that its systems are “safe, secure and uncompromised”.
The banks also encouraged customers to use all of the applicable platforms to verify that the undue charges to their accounts have been rectified.
Pan Finance is a print journal and news website providing worldwide intelligence on finance, economics and global commerce. Known for our in-depth analysis and opinion pieces from esteemed academics and celebrated professionals; our readership consists of senior decision makers from across the globe.