It has been said that the full amount will be paid in good faith to the victims of the OCBC Bank related fraud.
The bank said everyone would be paid the full amount within the next week.
So far more than 100 have been donated.
The bank asked everyone to be patient, as it would take some time to confirm each of the victims.
In the difficult situation, it apologized for taking more time than expected to resolve issues with customers.
In this case, it was said that an attempt was made to increase awareness among the customers about the fraud.
Bank officials said it helped prevent more than 200 people from falling victim to fraud.
About 470 people were affected by a bank fraud carried out by SMS last December.
At least 8.5 million silver is said to have been defrauded.