Today, OCBC Bank announced that it will now let customers withdraw cash at ATMs by scanning a QR code using the OCBC Pay Anyone app.

In the press release, OCBC Bank reported that while mobile banking usage has tripled, there are still 3 million cash withdrawals being made each month at OCBC Bank’s ATMs – a figure unchanged from last year.

With the new initiative, the process of cash withdrawals will be also reduced from 80 seconds to under 45 seconds.

• OCBC CDMS near CPF TAMPINES BUILDING, 1 Tampines Central 5 Singapore 529508 OCBC Cash Deposit Machines (CDMs) in Singapore allow its customers to deposit cash of S$2, S$5, S$100 and S$1000 notes Displaying 1 - 7 of 7 Results.
• OCBC Credit Card principal Cardmembers who currently hold at least one valid OCBC Credit Card. Minimum Call-for-Cash application amount of RM1,000 with any excess in multiples of RM100. Cardmember's line of credit must be sufficient to cover the Call-for-Cash amount for the entire repayment tenure.

Deposit services. Deposit notes into your OCBC current and savings account Deposit coins for a lower service charge of S$0.012/coin at selected branches. Note: Service charge is waived for coin deposits into accounts under the Mighty Savers Programme. Cash withdrawal limit, you will receive an SMS notification. Skip the branch queues and deposit up to S$20,000 per transaction at any of our cash deposit machines You will now be able to deposit up to S$20,000 in a single.

Ocbc Cash Deposit Machine In Singapore

Customers will also need to authenticate the transaction via fingerprint, ‘faceprint’, or mobile banking login credentials, “a more robust security feature than a PIN number that can be revealed or stolen”.

Mr Aditya Gupta, Head of Digital Business, Singapore and Malaysia, OCBC Bank said: “We believe this completely reimagines a core service for which customers engage with the banks and will move the needle in making QR code payments mainstream in Singapore.”

To make a QR code cash withdrawal, customers will need to:

Step 1: Click on “Withdraw cash with OCBC Pay Anyone” on ATM screen

Step 2: Log into OCBC Pay Anyone app

Step 3: Scan the QR code on the ATM screen

Step 4: Select the amount to withdraw or key in your preferred amount

Step 5: Cash is dispensed from ATM

Ocbc Cash Deposit Machine Locations

The service is now available on all OCBC Bank ATMs except 22 new ATMs which accept both coin and cash deposits.

Ocbc Cash Deposit Machine

Deposit Insurance Scheme Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$75,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

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Foreign Currency DepositsForeign currency deposits are subject to exchange rate fluctuations that may provide opportunities and risks. Earnings on foreign currency deposits would be dependent on the exchanges rates prevalent at the time of their maturity if any conversion takes place. Exchange controls may be applicable from time to time to certain foreign currencies. You should therefore determine whether any foreign currency deposit is suitable for you in the light of your investment objectives, financial means and risk profile. Any pre-termination costs will be deducted from your deposit.

Ocbc Cash Deposit Machine

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