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Don't know. Not even sure if all POSB/DBS Master debit cards are affected.
Maybe the bank could tell us more?
I can only surmise they are moving towards getting rid of Debit Cards as a payment option on their system or there was a widespread fraud/scam event recently involving debit payments.
Feels bad being a Steam customer especially after having supported them for so many years. Still wouldn't patronise Epic games though haha.
It could just be an issue with the bank and not Steams fault at all as it only seems to be effecting those who are using a specific bank.
Have you tried asking the bank yet? Because none have said what their bank has said yet.
If the issue was on Steam's end, there would of been a statement made about it.
Also, Steam won't drop debit card usage as that is a LARGE portion of how users pay.
It seems on the discussion page for this issue, I was told the same thing as other Singaporean bank account holders of DBS/POSB: it is not the bank's issue/bank side that is restricting the payment for Steam transactions.
Noted on the debit card payment for steam for real. Good to learn.
Money being rejected is not always Steam's fault.
I already stated this in the earlier comment.
I'll add this quote from the previously locked post:
I stated it earlier. I contacted my bank and I believe others in this discussion (and an earlier one closed by Valve because fishy) shared that they did too.
I was told it was not an issue on the bank's side.