SINGAPORE: OCBC banking services have been fully restored after a morning outage due to "network issues" on Monday (Aug 28) morning.
"Our customers can perform banking transactions at our branches, ATMs, internet and mobile banking platforms, and Velocity. Cards services have also been restored," said an OCBC spokesperson in an update at 12.22pm.
The bank added that it is investigating the cause of the "technical problem" which resulted in the disruption.
The latest update came about one-and-a-half hours after it said that its banking services were partially restored. It had said that its banking channels were "impacted by a technical problem at 8.33am".
"We would like to assure our customers that no customer data has been compromised and that their monies remain safe," said the OCBC spokesperson.
The bank acknowledged the issues in a Facebook post at about 9.40am, saying that it was facing "technical problems with our systems impacting our banking channels", which include mobile and online banking, PayNow, ATMs, Velocity and cards.
Screengrabs of OCBC's online banking services.
An announcement on OCBC's website earlier on Monday also
"We are experiencing network issues at the moment. All of our banking services are down," said OCBC.
"We are sorry for the inconvenience and are working to bring things back to normal."
According to updates from the bank on Facebook, card and branch services were restored at 10.33am, while ATM services were back up at 10.37am.
"Channels that are still impacted are internet banking, mobile banking, as well as Velocity," said an OCBC spokesperson earlier on Monday.
The spokesperson added that customers could still visit its branches for urgent transactions.
The spokesperson added that the bank was on standby to deploy additional resources at branches and extend branch banking hours to support customers.
Commenting on OCBC's Facebook post, some customers noted that their credit card payments were declined and that they were unable to withdraw cash.
One customer said in a comment in OCBC's Facebook post that her payment for an online doctor consultation could not go through.
Another said: "Have breakfast with a client, used credit card and then atm card to pay bills, all declined."
Several also said that it was embarrassing for them when their credit card transactions were declined.
CNA has reached out to the
In May, DBS online banking and payment services were disrupted for the second time in less than two months, with preliminary investigations linking the cause to human error.
In the wake of the two service disruptions, MAS imposed an additional capital requirement on Singapore's largest lender.
The bank will now need to apply a multiplier of 1.8 times to its risk-weighted assets for operational risk, bringing its total additional regulatory capital to approximately S$1.6 billion (US$1.2 billion).
This is up from the multiplier of 1.5 times - translating to S$930 million - imposed by MAS in February 2022 after DBS was also hit by a major, two-day disruption in November 2021.
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"Our customers can perform banking transactions at our branches, ATMs, internet and mobile banking platforms, and Velocity. Cards services have also been restored," said an OCBC spokesperson in an update at 12.22pm.
The bank added that it is investigating the cause of the "technical problem" which resulted in the disruption.
The latest update came about one-and-a-half hours after it said that its banking services were partially restored. It had said that its banking channels were "impacted by a technical problem at 8.33am".
"We would like to assure our customers that no customer data has been compromised and that their monies remain safe," said the OCBC spokesperson.
The bank acknowledged the issues in a Facebook post at about 9.40am, saying that it was facing "technical problems with our systems impacting our banking channels", which include mobile and online banking, PayNow, ATMs, Velocity and cards.
Screengrabs of OCBC's online banking services.
An announcement on OCBC's website earlier on Monday also
"We are experiencing network issues at the moment. All of our banking services are down," said OCBC.
"We are sorry for the inconvenience and are working to bring things back to normal."
According to updates from the bank on Facebook, card and branch services were restored at 10.33am, while ATM services were back up at 10.37am.
"Channels that are still impacted are internet banking, mobile banking, as well as Velocity," said an OCBC spokesperson earlier on Monday.
The spokesperson added that customers could still visit its branches for urgent transactions.
The spokesperson added that the bank was on standby to deploy additional resources at branches and extend branch banking hours to support customers.
Commenting on OCBC's Facebook post, some customers noted that their credit card payments were declined and that they were unable to withdraw cash.
One customer said in a comment in OCBC's Facebook post that her payment for an online doctor consultation could not go through.
Another said: "Have breakfast with a client, used credit card and then atm card to pay bills, all declined."
Several also said that it was embarrassing for them when their credit card transactions were declined.
CNA has reached out to the
In May, DBS online banking and payment services were disrupted for the second time in less than two months, with preliminary investigations linking the cause to human error.
In the wake of the two service disruptions, MAS imposed an additional capital requirement on Singapore's largest lender.
The bank will now need to apply a multiplier of 1.8 times to its risk-weighted assets for operational risk, bringing its total additional regulatory capital to approximately S$1.6 billion (US$1.2 billion).
This is up from the multiplier of 1.5 times - translating to S$930 million - imposed by MAS in February 2022 after DBS was also hit by a major, two-day disruption in November 2021.
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