Singapore banks to expand ATM network and improve services for elderly customers

DBS, OCBC, UOB and Nets have committed to placing an ATM, branch or cash point within 500 metres of every Housing and Development Board (HDB) block in Singapore by the first quarter of 2027, reversing years of declining physical banking infrastructure.

The commitment is part of a 20-measure industry playbook launched to better serve the banking needs of seniors. It was announced at the annual dinner of the Association of Banks in Singapore (ABS) on Thursday, 25 June 2026.

The announcement marks a notable shift in direction. The number of off-premise ATMs in Singapore has been falling by an average of 2 per cent annually over the past decade, driven by the growing adoption of digital payments.

Chee Hong Tat, Minister for National Development and Deputy Chairman of the Monetary Authority of Singapore (MAS), said in a parliamentary reply in February that ATMs with consistently low utilisation had been progressively removed so that banks could prioritise resources for higher-demand areas. He noted that ATM withdrawals had fallen more than 30 per cent between 2015 and 2024.

Existing ATM and branch coverage

DBS currently operates more than 1,100 ATMs and more than 50 retail branches across Singapore. UOB and OCBC collectively maintain around 1,000 ATMs under a shared network, with UOB operating 45 branches and OCBC operating 33.

In addition to ATMs and branches, the banks will also expand coverage through cash points — participating merchants that allow customers to withdraw cash using a bank ATM or debit card when making a purchase through Nets. Partner merchants currently include 7-Eleven, Sheng Siong and Giant.

In the interim period ahead of the 2027 target, the banks and Nets will ensure that at least one ATM, branch or cash point is located within 500 metres of key public amenities, including public transport hubs, hawker centres and major supermarkets.

ABS noted that "cash still plays an important role" for some customers and that the expansion aims to reduce the risk of seniors feeling excluded as banking habits shift increasingly towards digital platforms.

Legacy planning and estate administration

Beyond physical access, the playbook also addresses the administrative burdens that families face during bereavement. By the first quarter of 2027, the banks will provide clearer and more streamlined legacy planning processes.

The industry will standardise frequently asked questions and provide clearer guidance on lasting power of attorney (LPA), deputyship, documentation requirements and activation processes. LPA deputy account and deceased banking information enquiry processes will also be harmonised across DBS, OCBC and UOB to reduce confusion and distress for families and caregivers.

Since the start of June 2026, OCBC has allowed executors and administrators to submit multiple instructions through a single consolidated deceased estate form, covering the closure of savings, current and investment accounts. The bank is looking to digitalise this process by the end of 2026.

OCBC has also introduced a four-step framework to assist executors and administrators in managing a deceased person's financial matters.

By the first quarter of 2027, consolidated public guidance on estate administration will be made available through both ABS and individual bank platforms.

The industry will also simplify and digitalise Supplementary Retirement Scheme (SRS) withdrawal processes, though further details on that measure are expected to be announced in the coming months.

Support for seniors with cognitive decline

The playbook includes targeted measures for elderly customers who show signs of cognitive decline. By the end of 2026, the banks will introduce a common set of guidelines to help frontline staff identify possible signs of cognitive decline in customers.

Throughout 2027, the industry will pilot what ABS described as "clear and respectful" escalation protocols through an industrywide referral approach. Branch officers will also be trained to recognise when customers may require additional assistance, and to respond with greater consistency and care.

The banks are working with the Agency for Integrated Care (AIC) to strengthen the broader safety net for vulnerable and at-risk seniors.

ABS described the initiative as the first industry-led effort of its kind in Asia, saying it "reflects a shared recognition across the banking sector that ageing is a journey, and that banking services must evolve alongside the evolving needs of seniors."