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Tuesday, April 3, 2012

Make it easy for customers to use internet banking



I hope that our banks make it easier for their customers
to make payments using internet banking.

DBS Bank requires me, as a customer, to register a payee and to 
authenticate the payee with my mobile phone. This is on
top of logging in to the account with my login name, PIN and
the token (2FA authentication).

As I have reached the limit of the number of my registered payees
I have to find one payee to delete, so that the new payee can be
added. 


When creating the payee, I must make sure that I have entered the 
bank account correctly, as the system does not show me the name 
of the payee. After going through so much hassle, it is easy to make 
a mistake at this juncture.

Previously, I have asked DBS Bank to provide an option for the customer 
to make small payments, say less than $500, without the need to go 
through the complicated process of registering, authenticating and 
deleting a payee. The customer will probably choose this option for a 
once-off payment. 

It would also be useful for the name of the payee to be displayed (after 
the bank account has been entered). This is more important than the
requirement to create a payee record.

DBS Bank was not able to accede to my request. I suspect that the 
current practice must be mandated by the regulator, i.e. Monetary Authority of 
Singapore. I hope that the regulator can give their comment on this issue.

Tan Kin Lian

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