OCBC resumes face-to-face wealth advisory services
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OCBC Bank's White Sands branch is one of three branches which reopened yesterday. They add to the 24 OCBC branches that remained open during the circuit breaker.
PHOTO: OCBC BANK
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OCBC Bank is resuming some face-to-face wealth advisory services by appointment only at 27 branches and nine premier banking centres from today.
It also reopened three branches - at Bukit Batok, Sun Plaza and White Sands - as well as one premier banking centre at Parkway Parade yesterday to support a growing number of customers visiting heartland branches, it said yesterday.
These add to the 24 OCBC branches that had remained open during the circuit breaker, with at least one operating near every neighbourhood town centre.
These outlets had offered only essential services, while physical wealth advisory and sales had not been allowed.
The footfall at branches has increased by more than 20 per cent on average since Singapore started to ease out of its circuit breaker on June 2, said OCBC's consumer financial services head Sunny Quek.
"While all safe distancing measures are implemented in our branches, it can get crowded at times and we continue to encourage our customers to use our digital banking solutions and virtual wealth advisory service," he added.
Financial institutions providing advice on banking, insurance and investment products, as well as private banks offering wealth management advice, can have in-person meetings with customers at their premises only with the Monetary Authority of Singapore's approval.
Permission is subject to additional safe management measures.
OCBC requires employees to don face shields and masks while advising customers, who must also download the contact tracing app TraceTogether and observe 1m queue markings.
Other banks are also reopening more branches.
United Overseas Bank reopened nine more this week, bringing the total number of branches operating to 47, with 14 remaining closed. Standard Chartered Bank has reopened four more since June 2 so that 12 of its 16 branches are now open.
DBS Bank said last week that it may gradually reopen branches to augment the 28 now operating.
Ms Jacquelyn Tan, UOB's head of personal financial services in Singapore, said face-to-face meetings with advisers are by appointment only and at the client's request.
THE BUSINESS TIMES
