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POSB Newton Branch POSB deposit and cash withdrawal machines located at Bugis MRT station. On 24 July 1998, the Ministry of Finance announced the acquisition of POSBank by DBS Bank, [11] [12] which was fully acquired on 16 November 1998 for S$1.6 billion, [3] at the same time, ceased to exist as a statutory board under the Ministry of Finance.
NETS operates Singapore's national debit scheme enabling customers of DBS Bank, POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank, CIMB and UOB to make payments using their physical/contactless ATM cards or mobile devices at more than 120,000 acceptance points in Singapore including major retailers, food courts, hawker centres, convenience stores and supermarkets.
By 1976, POSB had one million depositors, while deposits crossed the S$1 billion mark. The bank was then renamed POSBank in 1990, before being acquired by DBS Bank on 16 November 1998 for S$1.6 billion (first announced on 24 July 1998), [ 17 ] [ 18 ] giving it a dominant market share with over four million customers. [ 19 ]
This is a list of banks with operations in Singapore. Location of incorporation is provided in brackets for foreign banks. There are, at present over 150 banks and deposit-taking institutions, and 45 banks with representative offices in Singapore. (EFA=Exempt Financial Adviser; ACU=Asian Currency Unit; SGS=Singapore Government Securities Market)
POSB may refer to any of the following: POSB Bank - a financial services provider in Singapore; formerly Post Office Savings Bank People's Own Savings Bank - a savings bank in Zimbabwe; formerly Post Office Savings Bank
Recently, there have emerged a number of unconventional abbreviations, such as A*STAR for Agency for Science, Technology and Research.) When SAFTI (Singapore Armed Forces Training Institute) was reorganised in 1995, it acquired the name SAFTI Military Institute , further abbreviated as SAFTI MI , which when fully expanded would form a rather ...
PayNow is a near-instant real-time payment system developed by Association of Banks in Singapore. [1] The interface facilitates inter-bank peer-to-peer and person-to-merchant transactions. The system is supported by all major Singaporean banks and is regulated by the Monetary Authority of Singapore (MAS) and works by transferring funds between ...
Singapore, later renamed POSB Bank; Kenya, also known as the Kenya Post Office Savings Bank; Austra, also known as the Österreichische Postsparkasse; Zimbabwe, later renamed the People's Own Savings Bank; Note that some of these institutions are no longer affiliated with a postal service, often as a result of privatization