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The integration of both banks allowed customers of either bank to share the facilities; DBS Bank depositors may use the Cash Deposit Machine installed island-wide in POSBank branches and vice versa.

Following the end of and the dissolution of the Straits Settlements, the 1948 Savings Bank Ordinance came into effect and in 1949, POSB was separated from the other post office savings banks in , with the bank's assets and liabilities split between and the.

Savings competitions were also organised among all government and government-aided schools with the incentive of a POSB lucky draw to encourage students to open an account with the bank.

Wah Yuen Kwok and its Chairman of the Board is Mr.

POSB started as a savings bank in 1877 in the same year that Singapore achieved self-government status , when it was called The Post Office Savings Bank of Singapore, Malacca and Pinang.

Most importantly, the bank exempts the bank service charge for the individual who is under 21 years.

Retrieved August 22, 2016.

It has 97 branches, primarily all over the island of Singapore, and 13 overseas branches in Indonesia 8 , China 2 and India 1.