WTF!! DBS minimum DAILY balance now $1500

[Boliao]

No I did not mean : "The bank does not want your business".

I meant exactly what I typed ie "The bank does not want your custom"!

My advice is for you to read widely in order to improve your vocabulary. There are subtle differences between the meaning of the words "business" vs "custom" that make the latter more appropriate in this instance.

http://www.yourdictionary.com/custom

Thank you for educating but there are huge differences between business and custom. In trying (very hard) to be fancy, you have made your vocab sound retarded... maybe it is just me but I fail to see the relevance of using "custom" in any scenario.

My recommendation for you would be to using stick to the basic instead of attempting to draw legs on snakes.

 

[kakowi]

From 1 September 2009, the average daily balance requirement for POSB Current Account will be S$1,500. The fall-below fee remains unchanged at S$2 per month for accounts with average daily balance of less than S$1,500.

People's bank??!!! Fuck I'm closing my account.

POSB belong to the LKY generation, at a time when people are encouraged to save and a bank where the bulk of the population can safely banked.

Since its merger with DBS, its identity is probably retained because of political implications and also because its huge source of liquid funds were merged with DBS.

Today, if you look at the queues inside the bank as well as the types of people using the ATMs, you will find that it is still mainly a bank for the majority of a certain segment of the population - students, elderly, blue-collared and the not-so-rich. Gone are the days when the rich will want to bank with POSB as the tax incentive is now common across banks.

So by raising the minimum balance, it is naturally safe to assume that the bank is telling the not-so-rich to ffuk off and put their pittance in tin cans.

But the bank may well say something like: "IT operations cost increase and a person can have multiple POSB-DBS accounts; such a policy will encourage them to consolidate, reduce our operational costs. Our cost savings can then be passed to our shareholders and customers."

Which is logical.

Except when you are dealing with people of very low incomes and have only one POSB account.

Then, the age old justification will be used - how many percent of such customers? 0.005%. Acceptable.

Moral of Today's Society? Don't be poor. You are a burden to everyone.

 

[Leongsam]

s

maybe it is just me but I fail to see the relevance of using "custom" in any scenario.

My recommendation for you would be to using stick to the basic instead of attempting to draw legs on snakes.

It probably is just you. It's not as if I substituted "business" for a term that sounded a bit more fancy. "Custom" just seemed to be an obvious choice in this particular context.

The underlying difference lies in the fact that "custom" implies regular and ongoing patronage of an establishment whereas the term "business" does not. In addition, the term "business" describes the relationship from the bank's point of view whereas "custom" is something that I, the consumer, give to a business concern.

Banks don't want low value customers taking up bank resources on a regular basis. Maintaining an account is a significant overhead and this category of depositors eat into profitability. Most banks would be happy if these small timers took their money somewhere else.

 

[makapaaa]

>>>There were many local banks in Singapore until this govt decide to toy with banking consolidation and the result was massive job losses , increase in prices and drop in service level.They followed it up with their billions investment in failed foreign banks.

Where is the accountability for they follies?<<<

This was Ass Loon's pet idea when he was Finance Minitoot.

 

[TeeKee]

From 1 September 2009, the average daily balance requirement for POSB Current Account will be S$1,500. The fall-below fee remains unchanged at S$2 per month for accounts with average daily balance of less than S$1,500.

People's bank??!!! Fuck I'm closing my account.

wah you so poor one? dun even have 1.5K in your bank account? PAP din pay you well enough?

so little, put your money in your mattress lah..why pay bank charges?

 

[johnny333]

You can sit while waiting for the teller.
But do they get a relationship maanger to serve you when you indicate that you want to place a time deposit?

The impression I get from Maybank is that of an old style bank. Personal service is provided by all the staff & not only by a relationship manager. I don't even they have a relationship manager

I have had a credit card with Maybank for 10+ years & the impression has been positive. I really think that Maybank deserves the title of "Peoples bank" more than DBS. They have a a people friendlier attitude, lower minimum deposit amount, ....

 

[kaipoh]

My bank.

 

[Whats4]

heheh... saving-zhihau-bank. you can place any amount inside this bank and your money will be very safe.

thats the last time i want to hear!!!!

 

[OverTheCounter]

Thank you for educating but there are huge differences between business and custom. In trying (very hard) to be fancy, you have made your vocab sound retarded... maybe it is just me but I fail to see the relevance of using "custom" in any scenario.

My recommendation for you would be to using stick to the basic instead of attempting to draw legs on snakes.

Even if you don't like Samleong's highfalutin vocubulary, surely that is no reason to abuse a chinese idiom in the process.

Like samleong, I suggest you brush up on your vocab too. Sinkees have one terrible habit -- they insist on not educating themselves, and then insist that others speak at their level.

No wonder the PAP sleeps peacefully at night

 

[sinren67]

Khong Yuan Biscuit Tin is the best

 

[johnny333]

My bank.

Sadly you represent a minority, many Sporeans must like DBS's long , long queues

I'm not complaining because whenever I have to pay my credit card bills the lines are short

 

[Leongsam]

I'm not complaining because whenever I have to pay my credit card bills the lines are short

You mean you actually QUEUE in a banking hall in this day and age??? That's ridiculous!

 

[DarthRevan]

tis is the problem of sillyporean, always suffer with silent. closing posb/dbs account the best protest, save time and won't get arrested by internet poodles when protest at road. i will close my account soon....

I closed my POSB/DBS account 13 years ago.

 

[Watchman]

It's pittance. What's the big deal? Anyone who can't maintain such a small sum should keep his money under his pillow instead. The bank does not want your custom.

Wahahahha .....

 

[ahpong]

Maybank seem to be a good bank. Currently I only have a credit card from them. I don't know why more people don't use them You can sit while waitig for the next teller is available With the aging population this is a plus

I don't have to wait. The teller is always free. I am referring to the branch at Hong Leong Bldg.

 

[Char_Azn]

source? i checked the POSB site and it's still SGD$500.00?

He is talking about the CURRENT account NOT SAVINGS ACCOUNT. Savings account is still at $500

 

[scoobyhoo]

take it or leave it. you have complete freedom to decide where you deposit your money. $2 per month =$24 per year. if the balance in the account is less than $500, say $100, after idle this account for 5 year, the depositor has to pay bank for additional penalties.

 

[kakowi]

take it or leave it. you have complete freedom to decide where you deposit your money. $2 per month =$24 per year. if the balance in the account is less than $500, say $100, after idle this account for 5 year, the depositor has to pay bank for additional penalties.

It is reasonings like this that makes the world a more terrible place to live in.

Freedom to choose on the part of the consumer does not imply freedom of choices - which is governed by institutional or governmental constraints.

In the case of POSB, the mindset is still that of the bank that is the mainstay of the lower incomes. Other banks would rather that such people do not bank with them. So it becomes a government matter - if they will look after the needs of the poor. Hence the issue under discussion.

It is safe to say that when you are rich enough to have three meals a day, you will not think of those who survive on only one meal a day.

Now, if only someone will be as callous to you in your day of need as you are to them.

If I have misread your post, my apologies.

If I did not, do consider that there are the poor in our midst, people who struggle each day.

 

[po2wq]

pillow ?

I keep mine in the ovaltine tin bury under the papaya tree

last heard ... national parks board chopped down many papaya trees ytd ...

 

[johnny333]

You mean you actually QUEUE in a banking hall in this day and age??? That's ridiculous!

In this day & age queues have gotten more common & longer in Spore. There are the extra couple of million new residents which pack this sardine can.

Banks like DBS have been closing down the POSB branches. The shorter queues at Maybank are appreciated by people like me