China News Service, February 17. According to Singapore's "Lianhe Zaobao" report, Singapore OCBC Bank launched the "kill switch" service, allowing customers to immediately freeze all bank accounts and bank card transactions under their name in an emergency. .
In the event of a fraud, the bank's official hotline can be used to use option "8", or the "emergency shutdown switch" can be activated through about 500 independent OCBC ATMs.
All OCBC ATMs will have this feature enabled by March 2022.
It is reported that if customers suspect that they are the victims of a scam, or believe that the relevant information of the main account has been leaked, they can immediately freeze all current and savings accounts (including joint accounts), ATMs, debit cards and Access to credit card, digital banking and OCBC Pay Anyone apps.
Once a customer activates the "emergency shutdown switch", they cannot conduct any transactions via digital, ATM or bank counters.
Periodic or pre-set transfers of funds will also be blocked.
If customers need to activate the "emergency shutdown switch", they can call the official hotline of OCBC Bank and use option "8". After entering and confirming the ID card and bank card number, the account and bank card can be frozen immediately.
In addition, customers can also go to an OCBC ATM, log in with a bank card, and select "Freeze Account and Bank Card" in the "More Services" option.
OCBC's head of customer service will contact customers once the "emergency shutdown switch" is activated to delete and replace the affected bank account or card.
A bank branch employee or customer service executive can only lift the "emergency shutdown switch" after receiving a formal verification instruction from the customer.
Once the "emergency shutdown switch" is lifted, the customer's account will return to the "normal" state, and all settings before the account freeze, including financial routing and preset fund transfers, will be restored.