Business Enquiries: https://www.business.thebluecats.com.sg/ The Blue Cats' Instagram: https://www.instagram.com/singaporethebluecats/ -------- Scams are a big, growing problem in Singapore, with $456.4 million reported lost in just the first half of 2025. Education helps, but banks have been adding “hard” safeguards too, like a 12-hour wait before you can transfer to a newly added payee. These measures are meant to stop scammers from draining accounts if a phone or app is compromised. From 15 October 2025, there’s a new safeguard: you cannot transfer out more than 50% of your available bank balance within any 24-hour period via mobile or internet banking. If you try to exceed that, the amount above the 50% cap will be held for 24 hours or rejected. For example, with $200,000 in your account, your daily digital transfer limit is $100,000, even if you split it into multiple transactions. Major retail banks, DBS, OCBC, UOB, Citibank, HSBC, Maybank and Standard Chartered, will apply this to current and savings accounts, including joint accounts. It only affects digital transfers. Cash withdrawals at branches or ATMs are not affected. Because of the 24-hour hold risk, banks advise planning time-sensitive moves like share purchases in advance to avoid fees or missed deadlines. This won’t hit everyone. It applies only to accounts with balances above $50,000, so everyday small transfers are not the target. If a transfer is held, you can cancel it during the 24-hour window, and in some cases you may be able to release funds via an ATM depending on your bank’s rules. More anti-scam measures could roll out in the coming months, so the big idea is: small inconveniences now to prevent big losses later.