Cancellation service N°1 in Singapore
Contract number:
To the attention of:
Cancellation Department – Posb
One Raffles Quay, South Tower
048583 Singapore
Subject: Contract Cancellation – Certified Email Notification
Dear Sir or Madam,
I hereby notify you of my decision to terminate contract number relating to the Posb service. This notification constitutes a firm, clear and unequivocal intention to cancel the contract, effective at the earliest possible date or in accordance with the applicable contractual notice period.
I kindly request that you take all necessary measures to:
– cease all billing from the effective date of cancellation;
– confirm in writing the proper receipt of this request;
– and, where applicable, send me the final statement or balance confirmation.
This cancellation is sent to you by certified email. The sending, timestamping and integrity of the content are established, making it equivalent proof meeting the requirements of electronic evidence. You therefore have all the necessary elements to process this cancellation properly, in accordance with the applicable principles regarding written notification and contractual freedom.
In accordance with the Consumer Rights Act 2015 and data protection regulations, I also request that you:
– delete all my personal data not necessary for your legal or accounting obligations;
– close any associated personal account;
– and confirm to me the effective deletion of data in accordance with applicable rights regarding privacy protection.
I retain a complete copy of this notification as well as proof of sending.
Yours sincerely,
15/01/2026
How to Cancel Posb: Complete Guide
What is Posb
Posb is the consumer banking arm of DBS Bank offering day-to-day accounts, debit and credit cards, and overseas funds transfer services branded as DBS Remit and Outward Telegraphic Transfer. Posb moves money to 50+ destinations via DBS Remit and supports larger or specialised corridors via OTT with handling and cable charges.
This guide focuses on cancellations linked to Posb services most relevant to readers in Australia: overseas transfers, debit/ATM cards and linked recurring instructions. It gathers Posb policy points and public user feedback to give practical, rights-focused guidance about timelines, fees, refunds and dispute options.
How cancellations typically work for Posb overseas transfers
How to cancel posb overseas transfer requests depends on transaction status: pending, processed but not yet credited, or completed by the beneficiary bank. Posb’s documentation treats cancellation or amendment as “best effort” when the transaction has not settled, and notes specific fees may apply.
Processing timelines matter: DBS/Posb states most outward transfers are sent same day if submitted before cut-off, and typical completion to destination may take 2 to 4 working days depending on corridor and intermediaries. This means a cancellation window can be narrow for same-day transfers.
Fees and charges are applied unevenly: some DBS Remit corridors show zero transfer fees, while OTT transactions list cable and handling charges that are levied per transfer. Cancellation or amendment fees are captured in Posb guidance and should be expected in many cases.
Customer experiences with Posb cancellations
What users report
Public comments and independent articles show a mix of experiences: many users appreciate quick tracking and same-day remit options for selected corridors, while others report friction when attempting to amend or cancel transfers after submission. Users mention that cancellations are handled on a best-effort basis and that outcomes often depend on where the funds are in the payment chain.
Feedback collected from social posts and consumer blogs indicates delays can come from intermediary banks, regulatory checks or mismatched beneficiary details; some users report notification delays when a transfer has been rejected by receiving banks. One community post highlighted an unexpected cleared recipient list change that affected saved recipients.
Recurring issues and practical takeaways
1. Accuracy of beneficiary details is critical: incorrect names, account numbers or purpose codes are common causes of rejections or cancellations by the recipient bank, which then affects refund timing.
2. Timing is decisive: same-day corridors and cut-off times can leave almost no cancellation window. Expect Posb’s policy to treat late amendments as impractical.
3. Fees can apply even when cancelling: Posb documentation lists an amendment fee and a cancellation fee for remittances; these charges reduce the refundable amount.
Billing cycles, proration and refunds for Posb transfers and cards
For single overseas transfers there is no recurring billing cycle; each transfer is discrete and processed against available balance or earmarked funds. For scheduled or standing instructions the effect is recurring until terminated and any proration or pending items must be considered before stopping the instruction.
Refunds follow the path of the original payment: if funds have not left Posb’s clearing chain refunds may be quicker. If the beneficiary bank already received the funds, refunds depend on the receiving bank’s willingness to return funds and any intermediary charges that have accrued. Posb’s materials explicitly note agent bank charges and handling fees may apply and that the recipient bank’s agreement is required when funds have been credited.
Cooling-off and proration: typical bank remittance services do not operate with consumer-style cooling-off for single transfers; cooling-off periods used in retail subscriptions do not apply. For card products, card account closure or cancellation may still generate a final statement covering outstanding balances and posted transactions.
Documentation checklist
- Transaction ID or reference: Keep the transfer reference and time/date of submission.
- Account statement: A copy of the affected bank statement showing the debit.
- Beneficiary details: Full beneficiary name, account number and bank identifiers used in the transfer.
- Correspondence record: Notes of any official responses and the dates you received them.
- Receipts and charges: Evidence of fees charged, including amendment or cancellation fees.
- Identity documents: Proof of identity that aligns with Posb account records, if required for verification.
How to approach disputes, chargebacks and investigation with Posb
If a transfer has gone to an unintended recipient or fraud is suspected, banks generally follow payment-system investigation procedures that include transaction tracing and liaison with correspondent banks. Posb’s guidance mentions tracer and agent bank queries as part of the process for settled transfers. Expect investigations to take multiple weeks if intermediary banks are involved.
Chargebacks for card transactions and unauthorised debits follow a different track; Posb’s card FAQ outlines retrieval of charge slips and dispute timelines and costs for retrieval copies. Keep proof of non-authorisation and transaction details ready to support a dispute.
Practical pitfalls and mistakes to avoid with Posb transfers
- Incomplete beneficiary details: Mismatched name formats or missing bank codes can force a cancellation or rejection and delay refunds.
- Ignoring cut-off times: Submitting close to cut-off leaves little chance to amend or cancel same-day transfers.
- Assuming zero fees on OTT corridors: OTT and some non-DBS corridors carry cable or handling fees; check the fee schedule for the specific transfer type.
- Missing transaction references: Without transaction IDs the timeline for investigations will be slower or may stall.
Common questions about card cancellations and Posb debit cards
How to cancel posb debit card or how to cancel posb card queries often focus on lost, stolen or unwanted card closure. Posb’s card guidance explains liability protections for lost or stolen cards from the time the bank is notified and that cancelled cards can be replaced. Account closure or card cancellation commonly triggers a final statement and may leave outstanding authorised transactions to post.
Do not assume immediate cessation of all debits at card cancellation: recurring merchant authorisations already passed to merchants may still occur if a merchant obtains renewed authorisation through a stored mandate process. Monitor your statements for several weeks after a card cancellation or account closure.
Short note on local consumer protections that matter for Posb customers
Local financial consumer protections govern error resolution, unauthorised transactions and dispute handling and apply to Posb engagements with customers. When raising a dispute about a transfer or a card transaction, align your case to the bank’s stated policies and provide requested documentation promptly. This helps shorten processing time and strengthens your position during investigator queries.
Tables: Posb transfer options and comparison
| Service | Typical features | Representative fees (approx A$) |
|---|---|---|
| DBS Remit (selected corridors) | Competitive FX, some corridors show zero transfer fee, same-day options for selected markets | Varies; corridor-dependent. Example: A$0 transfer fee for some corridors (fee waiver applies to selected routes). |
| Outward telegraphic transfer (OTT) | Wider destination coverage, cable/handling charges, agent bank charges possible | Approx A$23 for cable/telex plus handling commission. Example conversion: OTT cable A$≈A$23 and handling commission ranges approx A$6-A$40 depending on amount (converted from SGD list; approx conversion used). |
| Scheduled/standing instructions | Recurring outward transfers on set dates; must be terminated ahead of execution to stop next payment | Varies; fees may apply on amendment/cancellation. |
| Comparison | Speed | Fee predictability |
|---|---|---|
| DBS Remit | Fast on eligible corridors | Higher predictability on corridor list |
| OTT | Slower to some destinations; depends on intermediaries | Lower predictability due to agent charges |
| Specialist remitters (generic) | Often clear timeline/transparent FX | Varies; usually disclosed upfront |
Address
- Address: One Raffles Quay, South Tower, Singapore 048583
What to do after cancelling Posb
After you lodge any cancellation or dispute with Posb follow these steps: keep the transaction reference, monitor account statements daily, and gather all documentation referenced earlier. Track the refund timeline and check whether any intermediary charges were deducted from the refunded amount.
If refund timing extends beyond published service standards, escalate via the bank’s formal complaint process and keep clear timelines and evidence of your communications. If the response is unsatisfactory, you may consider lodging a complaint with the relevant financial ombudsman or regulator; ensure you include the bank’s reference numbers and a concise chronology.
Finally, keep ongoing vigilance on card and account activity for at least 60 days after any cancellation event, and preserve original documents until the matter is fully resolved. This gives you the strongest footing for chargebacks or regulatory complaints if needed.