Allowing Banks to Adopt Singpass as Primary Method to Verify and Update Addresses of Account Holders

Mr Yip Hon Weng asked the Prime Minister whether the Government will consider allowing banks to adopt Singpass as the primary method (i) to verify the addresses of bank account holders and (ii) for bank account holders to update their addresses.

Banks are allowed to adopt Singpass services, such as Myinfo, to obtain and verify their customers' personal particulars. This has been widely implemented for online banking channels. The extent of adoption at bank branches varies and depends on individual banks' considerations, such as the profile of branch customers and their respective preferences and the extent of information technology integration needed.

The Monetary Authority of Singapore encourages banks to integrate Singpass services into their branch systems so that customers have a choice between digital and physical identity card verification at branches.