Starting on 15 December 2025 Singapore’s major banks will roll out a new anti-scam measure that automatically stops or delays digital transfers when they exceed 50% of an account’s balance in one day. This initiative targets the quick movement of funds that scammers typically use and helps shield customers from major fraudulent withdrawals. The system works by monitoring transaction patterns throughout the day. When someone tries to transfer more than half their account balance the bank’s security system kicks in and either pauses the transaction or blocks it entirely.
Understanding Singapore’s New Balance-Linked Transfer Restrictions
The new safeguard will apply to current & savings accounts that have balances of at least S$50000. This includes joint accounts. It forms part of an enhanced fraud surveillance framework that has been introduced by the Domestic Systemically Important Banks. These banks are DBS OCBC, UOB, Citibank, HSBC, Maybank and Standard Chartered.
The system automatically activates a 24-hour hold or sometimes blocks the transaction right away when a questionable transfer or multiple withdrawals go over half of what is in an account. This waiting period allows account owners to check the activity and stop transactions if they think something fraudulent is happening.
| Aspect | Details |
|---|---|
| Effective Date | 15 December 2025 |
| Affected Accounts | Savings and current accounts (including joint accounts) with S$50,000 or more |
| Trigger Condition | Transfers exceeding 50% of account balance within 24 hours |
| Action Taken | 24-hour hold or transaction rejection |
| Notification | Customers alerted via mobile app or online banking |
| Exemptions | GIRO, eGIRO, and bill payments to recognised billing organisations |
| Verification Options | Bank branches, ATMs, or customer service centres |
This security feature provides extra protection but it might slow down genuine transfers. People who need to make urgent payments like buying stocks or property should plan ahead & allow extra time.
How the 50% Account Transfer Limitation Will Operate From 15 December
When a customer tries to transfer money that would exceed half of their total account balance when added to other withdrawals from the last 24 hours the system will either hold or reject that transaction.
During the 24-hour window:
– Customers will receive alerts through mobile or online banking channels
– They can cancel the transfer immediately if they suspect a scam
– Genuine payments will be automatically released once the hold period ends
– Blocked transactions may be attempted again after verification with the bank
Recurring transactions — including loan instalments, utility bill payments, and standing instructions — will remain unaffected to avoid inconvenience.
Expected Effects on Daily Customer Payments and Banking Transactions
The new measure makes banking more secure but it might cause short delays when people need to transfer large amounts of money quickly. The Monetary Authority of Singapore has said that some inconvenience cannot be avoided. However these steps are needed to protect people from online scams that are becoming more sophisticated.
Banks will keep introducing verification notifications inside their mobile apps. These notifications will tell customers if a phone call or transaction request is actually real. This system will make it easier for people to recognize when their bank is truly trying to contact them.
Official Clarifications Issued by Singapore’s Financial Regulators
Ong-Ang Ai Boon serves as Director of the Association of Banks in Singapore. She explained that this initiative marks an important advancement for Singapore’s anti-scam infrastructure. She pointed out that scam tactics keep changing even though improvements have been made. This means banks must continuously adapt their approaches to stay ahead of fraudsters. The banking sector faces ongoing challenges as scammers develop new methods to target victims. Financial institutions need to remain vigilant and update their security measures regularly. This effort demonstrates the commitment of Singapore’s banking industry to protect customers from increasingly sophisticated fraud schemes.
Ho Hern Shin serves as Deputy Managing Director for Financial Supervision at MAS. She stated that protecting customers continues to be the most important goal. The new security measure may cause delays for certain large transactions. However it will greatly lower the chances of fraudulent money transfers happening.
Why the New Transfer-Control Framework Is Important for Consumers
Scams continue to be a major financial threat in Singapore even though cases fell by 26% in the first half of 2025. Banks managed to stop around S$78 million in potential scam losses during the first seven months of the year according to ABS. The 50% transfer safeguard adds to these prevention efforts by blocking high-risk transfers before money can leave an account.
What Customers Should Do
To adjust to the new measure, customers should:
– Review their usual payment schedules and plan any large transfers ahead of time
– Keep mobile notifications switched on to receive faster scam alerts
– Use authorised in-person verification channels when a transaction gets flagged or delayed
– Stay alert against suspicious calls or messages asking for urgent fund transfers
Starting on 15 December 2025, major banks in Singapore will implement enhanced security measures that will hold or block digital transactions that exceed half of an account’s total balance. This countrywide protection system demonstrates Singapore’s dedication to combating internet fraud and protecting the financial security of its citizens. Although this policy might result in short delays for some transactions, it marks a forward-thinking approach to safeguarding customer money in a world where digital banking continues to grow. The new framework applies to all significant financial institutions operating in Singapore and targets unusually large digital transfers that could indicate fraudulent activity.
