Section 5 What is One Time Password (OTP)?

Q1:
What is One Time Password (OTP)?
A1:

One Time Password (OTP) is a security feature in DBS iBanking. The OTP of DBS iBanking is a password sent by us to your mobile phone number (registered with DBS Bank for this purpose) via Short Message Service (SMS). An OTP is required when you log on to DBS iBanking or perform designated transactions. The SMS will not be forwarded to any other mobile phone number even if you have subscribed for SMS forwarding service provided by telecommunication service provider in Hong Kong.

Q2:

Why do I need to have One Time Password (OTP) to access DBS iBanking? What are the benefits?

A2:

OTP further improves the security of DBS iBanking by providing additional password authentication. On top of your iBanking username and password, you will need to key in this additional password (OTP) when conducting logon and designated online transactions on DBS iBanking.

The introduction of the OTP means a dual password authentication is required when customers access DBS iBanking. This is a stronger means of customer authentication as it relies on:

(a) information you know (that is your username and password) and
(b) information the bank provides to you (that is the SMS-based OTP)

Online fraud and mischief is becoming increasingly sophisticated and as it evolves, online security itself has to advance to combat these cyber crimes. With the implementation of dual password authentication during the logon process, should your username and password be compromised for any reason, the "thief" will also need to have your registered mobile phone for the OTP, without which he will be unable to access your iBanking. This makes it more difficult for hackers who manage to obtain a string of customers' usernames and passwords via phishing or spyware.

Q3:
What designated services require an OTP?
A3:
An OTP is required when you use the following services via DBS (For customer who has not activated the Secure Device yet):
Log on to DBS
Reset DBS iBanking Password
Funds Transfer
  • Funds Transfer to Non-Registered Third Party Accounts
  • Setup Standing Instruction
Funds Transfer (Overseas)
  • Funds Transfer to Oversea Account
Bill Payment, payment to
 
• payees in the "Banking and Credit Card Services" category
• payees in the "Credit Services" category
• payees in the "Securities Broker" category
• payees in the "The Hong Kong Jockey Club" category
  • Set up Direct Debit Authorisation
Electronic Bill Presentment and Payment
  • e-Bill, one time payment and e-donation to designated payees
 
  • Industrial and Commercial Bank of China (Asia) Ltd
  • Beacon College
  • ClearFX
Update of Personal Details or My Alerts Contact
Increase of DBS Daily Limits*
Subscription, amendment or cancellation of “My Alerts” in relation to the following services
  • eStatement
  • Setup Standing Instruction
  • Bill Payment
  • Current Account Overdrawn
  • Cashline Payment Reminder
  • Credit Card Payment Reminder
  • Securities IPO Allotment Result

* To increase daily limit of funds transfer to non-registered third party account, you need to download and complete the DBS iBanking Service Request Form and return the form to any DBS branch or send it back to us by mail.

Q4:
How can I register for the OTP service?
A4:

You can register your mobile phone number to receive OTP in the following ways:

(a) Registering online
If you have not registered for OTP, we will ask you to register your mobile phone number to receive OTP when you log on to DBS iBanking, and send you a Security Code to verify the mobile phone number you entered. Once you receive the Security Code, simply log on to DBS iBanking and enter the code to complete the registration.
   
(b) DBS ATMs (not applicable to customers who only possess DBS credit cards and/or Cashline cards)
You may also register at DBS ATMs. Simply insert your DBS ATM card, enter your ATM PIN, choose "other" and then "OTP registration / update", and enter the mobile phone number you want to use to receive OTP.

If your ATM card is a joint-named ATM card, please register your mobile phone number to receive OTP by visiting any of our branches in Hong Kong and filling in the DBS iBanking Application Form.
   
(c) DBS branches
You may also register your mobile phone number to receive OTP by visiting any of our branches in Hong Kong and filling in the DBS iBanking Application Form.

After successful registration, you will subsequently receive an OTP through your registered mobile phone number every time you log on to DBS iBanking or perform any of the designated services.

Q5:
What should I do if I have lost my Security Code or it has expired?
A5:

If you have lost your Security Code or it has expired, you will need to register your mobile phone number by other means in order to receive One Time Password (OTP):

(a) DBS ATMs (not applicable to customers who only possess DBS credit cards and/or Cashline cards)
You can register your mobile phone number to receive OTP at DBS ATMs. Simply insert your DBS ATM card, enter your ATM PIN, choose "other" and then "OTP registration / update" and enter the mobile phone number you want to use to receive OTP.

If your ATM card is a joint-named ATM card, please register your mobile phone number to receive OTP by visiting any of our branches in Hong Kong and filling in the DBS iBanking Application Form.
   
(b) DBS branches
You may also register your mobile phone number to receive OTP by visiting any of our branches in Hong Kong and filling in the DBS iBanking Application Form.

Q6:
What is a Security Code?
A6:

We use a Security Code to verify the mobile phone number you choose to receive One Time Password (OTP). Once you receive the Security Code, simply log on to DBS iBanking and enter the code to complete the verification*. Before you enter the code, you can only enquire about your accounts, but cannot perform any transactions for security reasons. Once you enter the code, you can enjoy our full range of online functions, and also be able to receive OTP for greater security.

*You can also complete the verification at any of our branches or through DBS ATMs.

Q7:

How can I obtain my Security Code?

A7:

Security Code will be delivered to you by either SMS or registered mail if your OTP registration was done online.  

You will be receiving your Security Code via SMS if the mobile phone number you provided during the OTP registration is already in the Bank's record(s). However, if the mobile phone number you provided during the OTP registration is not in the Bank's record(s), you will be receiving your Security Code through registered mail instead.

Q8:
How can I update my mobile phone number for the purpose of receiving OTP?
A8:

To update your mobile phone number to receive OTP, you may go to any DBS ATMs. Alternatively, please download and submit the DBS iBanking Application Form to us.

Please note that SMS originating by our bank will be sent to your registered mobile phone number only for receiving OTP.  The SMS will not be forwarded to any other mobile phone number even if you have subscribed for SMS forwarding service provided by telecommunication service provider in Hong Kong.

Q9:
Do all mobile phones have the capability of receiving OTP?
A9:
As long as you have a SMS-enabled mobile phone or device, you will receive transmission of an OTP.

Q10:
Can I receive an OTP if I am overseas?
A10:
If you are overseas or using overseas mobile service providers, the service provider may not support receipt of international SMS. Please consult your service provider and /or hardware supplier for details.

Q11:

Are there any service charges for using the OTP service?

A11:
The OTP service is free if you receive an OTP via SMS in Hong Kong. If you are overseas or using overseas telecommunication service providers, your service provider may levy charges. Please consult your service provider for details.

Q12:
When does the OTP expire? What should I do if I am not able to confirm the transaction before the OTP expires?
A12:

The OTP expires in 100 seconds after it is issued. If you are not able to enter the OTP and log on to DBS iBanking before the OTP expires, you can click on "request a new OTP" on the OTP input page.

After logon, if you are not able to confirm the transaction before the OTP expires, you can request for a new OTP in OTP authorization page, and then enter the new OTP to confirm that transaction again.

Q13:

What should I do if I lost my mobile phone?

A13:

You should contact our Customer Service Hotline on 2290 8888 (press 6 and then 1 after language selection) immediately to deactivate your OTP service.

 
 
 
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