Cash withdrawals at 7-Eleven

DBS Bank has partnered with 7-Eleven, enabling DBS/POSB customers to make cash withdrawals at over 500 stores island-wide.

The initiative, POSB Cash-Point, takes the bank’s physical touch-points to over 2000 in Singapore.

With the partnership, DBS/POSB customers will be able to withdraw up to $80, in multiples of $10, with any purchase at 7-Eleven stores, excluding stores located at Changi Airport and Shell stations.

Customers can enjoy the complimentary service using a DBS/POSB debit or credit card linked to a savings account.

The tie-up with 7-Eleven is the latest in a string of partnerships that highlights DBS’ strong corporate relationships and strategic plan to entrench its leadership position in Singapore.

Since 2011, the bank has formed strategic alliances with SingPost and SPH BuzzPods to extend banking beyond traditional touch-points. Customers have taken to these channels and over 33,000 cash withdrawal/deposit transactions were conducted at SingPost outlets in the fourth quarter of 2012.

The partnership will expand DBS’ network of physical touch-points by one-third, further solidifying the bank’s presence in town and in the heartlands. As part of the bank’s physical touch-points self-service banking machines such as ATMs and Cash Acceptance Machines (CAMs) also play a role in fulfilling customers’ cash or payment transaction needs.

Today, the bank handles more than 25 million transactions via its self-service banking network each month, making its machines one of the most widely used in the world.

7-Eleven Singapore is part of Dairy Farm International and has a network of more than 550 stores around the island.

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