Chitchat beware of bank hidden scam while doing fund transfer

[eatshitndie]

yes i understand the concept,its like the insurance float,but is it enough?its only 25 bucks,compared to the hundreds of premiums u pay over the years for health insurance.the money just gets recycled thru the system quickly.i bet its not even enough to cover their cost of running the business.i put 20 bucks on my ezlink card each time and it pisses away so quickly.

volume and scale. imagine starfucks having 6.9 million members loading $25 at any one time. before they start spending the top up, starfucks suddenly finds itself richer by $172,500,000. if the average balance is $6.9 out of a total membership base of 69m, the total free cash flow at any one time just from account top up alone is $476m. there's hardly any cost associated with holding this "petty" cash hoard. and that's no chump change. it can be used to bury several competitors at one go or start new products.

 

[Satyr]

I discovered something to share. This may not be something so noticeable or relevant if the amount transferred is small. But for amount above $10k or more it is something not to be missed.

When someone transferred 30k to me , he selected immediate but within the immediate there is another option to select fast transfer or not and they defaulted it to 1 to 3 working days. The person didn't specified is immediate and immediate, resulted in a bloody cheebye situation - the money is deducted from his account and the money need to wait 3 fucking work days to reach me. So where is the fucking money now ? The fucking bank holds it and earn your interest ? it only make sense for this option if the transferer still hold the money and say decide to cancel this transfer within the next 1 to 3 work days ? correct ?
That person call the fucking bank and bank say transaction done cannot change woh :oIo:

All kinds of Organizations do things to hold on to your money. The government is the best example . Why should banks do things for free ? Don't blame them . Just be aware. Life is a game.

 

[chootchiew]

All kinds of Organizations do things to hold on to your money. The government is the best example . Why should banks do things for free ? Don't blame them . Just be aware. Life is a game.

yes. we should not succumb to this.
after anti slavery moves im going for anti consumerism moves.

 

[flatearther]

after anti slavery moves im going for anti consumerism moves.

You have my fullest support, just like what I said four months ago:
sammyboy.com/showthread.php?239269-Be-careful-more-SMEs-won-t-be-able-to-pay-employee-CPF-next-year&p=2552286#post2552286

I ended my slavery days early after I found I no longer required to put up with this human slave concept and able to lead a humble life.

Yes, a humble life or:
wikipedia.org/wiki/Simple_living
is the way to go!

But at the same time, one must not fear death, including unexpected, or earlier than expected, death.

And here is the wiki article about:
wikipedia.org/wiki/Anti-consumerism
You might also want to simplify your diet:
wikipedia.org/wiki/Simple_living#Simplifying_diet