Protecting your financial assets is crucial in today’s digital age. The "Kill Switch" is a powerful tool against online scams and unauthorised access. It allows you to instantly disable access to your account, service, or payment method through your bank’s app or website, providing swift response to threats.

When to Use the "Kill Switch"

• Suspicious Activity: If you notice any suspicious or unauthorised transactions.
• Suspected Scam: If you believe you’ve fallen victim to an online scam.

Activate the "Kill Switch" immediately to lock down your account and prevent any further unauthorised access.

Why Do We Need a "Kill Switch"?

• Preventing Data Breaches: 

The "Kill Switch" allows you to quickly stop unauthorised access, protecting your sensitive financial data.

• Mitigating Financial Loss: 

By halting fraudulent transactions, the "Kill Switch" helps minimise potential financial damage.

• Ensuring Regulatory Compliance: 

Using the "Kill Switch" helps meet legal and regulatory requirements for data protection and incident response.

• Protecting Reputation: 

Proactively managing incidents with the "Kill Switch" minimises reputational damage by showing customers that the bank is taking decisive action on any financial fraud.

Understanding the "Kill Switch"

• What It Is: 

A security measure designed to protect your financial data and assets by temporarily disabling access to certain banking services.

• How It Works: 

When activated, the "Kill Switch" halts access to your account to counter potential threats, ensuring your funds remain secure.

• Why It’s Important: 

The "Kill Switch" is vital for protecting your sensitive information and minimising the risk of fraud.

Impact of Activating the "Kill Switch"

• Temporary Inconvenience: 

Access to online banking or transactions will be temporarily unavailable. While this may be inconvenient, it is a necessary step to protect your assets.

• Reassurance: 

Rest assured that by using the "Kill Switch", the bank is taking all necessary steps to protect your interests.

Transactions Affected by the “Kill Switch”

Activating the "Kill Switch" may stop all or most of all types of transactions, including:

• New incoming and outgoing transactions
• New and existing standing instructions or standing orders
• Bill payments
• Financial Process Exchange (FPX) transactions
• Online or physical (in-store) card payments
• Payments to loans/financing accounts
• Incoming and outgoing overseas/local fund transfers

Reactivating Your Account

Reactivating your account after using the "Kill Switch" will require a strict identity verification process by the bank to ensure your security. This ensures that only you can regain access to your account, further protecting your funds.

Banks worldwide have introduced the "Kill Switch" not just as a security feature but as a proactive measure for peace of mind in digital banking. While activating it may cause inconvenience, the benefits—protecting financial data, reducing losses, and ensuring compliance—are worth the temporary disruption. Trust your bank to safeguard your assets and maintain operational integrity swiftly.