DBS: How to be world class?

[johnny333]

Its been almost 9 years since I've moved and I'm still receiving letters from DBS Asset Management sent to my OLD ADDRESS.

Obviously there is a failure to communicate internally.
It makes one wonder if anyone at DBS cares that you have already notified them of a change in adrress 9 years ago .

Fortunately for me that there are relatives still staying at my old place. Otherwise strangers will be get to read my personal statement.

If they can't process a simple address change, what other expensive$$$ goof ups is going on in DBS

 

[BuiKia]

It is world class yet? I dun think so and doubt it ever will be.

 

[ps07857]

bro, I get online statement nowadays... more convenient... no paper worries... whenever the balance is due in 7 days, they will write you an email... 2 days before it's due, they will send another email. I bank with HSBC though... (not local), maybe that's the difference. I jumped on the offer of a free $10 credit if I chose paperless statement about 5 years ago. Not too sure if they still offer it. So far I am quite happy with HSBC also because they don't call you on your mobile to push you to "buy" their new products...etc.... terribly annoying because their number always show up as "Unknown" and I keep thinking it must be some clients looking for me....:(

 

[johnny333]

bro, I get online statement nowadays... more convenient... (

Be careful of online statements if you are using a credit card. I have more than one online account with various banks & I missed out on a payment because forgot to check all of my accounts. :(

I used to have various unit trusts investment with DBS but now only use them for my CPF investment, Only Spore banks are allowed to handle CPF investments.

They bill me for the services which is sent to the correct current address, but the statement for the investments are sent to my old address. Obviously their priority is only for payments & they could care less for service

 

[johnny333]

It is world class yet? I dun think so and doubt it ever will be.

If I had a choice I would NOT use any local bank.

Which I don't except to handle my CPF investment & a POSB account to receive those gov't refunds.

If local banks were world class they wouldn't need gov't protection

 

[downgrader]

If I had a choice I would NOT use any local bank.

Which I don't except to handle my CPF investment & a POSB account to receive those gov't refunds.

If local banks were world class they wouldn't need gov't protection

DBS has not been a local bank for a long long time - since they had a string of American CEOs, then now an Indian one, and the whole IT floor of DBS is populated by Indian programmers and network engineers

 

[Watchman]

It is world class yet? I dun think so and doubt it ever will be.

 

[1sickpuppy II]

The title sould have been " From 3rd to 1st and back to 3rd. We have moved a full cilcle "

 

[johnny333]

The title sould have been " From 3rd to 1st and back to 3rd. We have moved a full cilcle "

The world according to LKY

Haven't read any of his books, must be interesting reading about all "HIS" achievements. Must be difficult to distinguish myths from reality

 

[johnny333]

DBS has not been a local bank for a long long ......

They never grew up. Just another half baked familee business.

Should have gone under except they were bailed out by POSB.

What can you say about a bank that threw away safety deposite boxes with owners possessions still in the boxes Ab honest mistake

When I held unit trusts bought from DBS they couldn't even look up my records of all my holdings Compared to Citibank which not only showed what I held, the performance info, nice charts, etc.

 

[Muthukali]

Its been almost 9 years since I've moved and I'm still receiving letters from DBS Asset Management sent to my OLD ADDRESS.

Obviously there is a failure to communicate internally.
It makes one wonder if anyone at DBS cares that you have already notified them of a change in adrress 9 years ago .

Fortunately for me that there are relatives still staying at my old place. Otherwise strangers will be get to read my personal statement.

If they can't process a simple address change, what other expensive$$$ goof ups is going on in DBS

Just give them a call. F them up... I used to have that kinda of problem too, even my name is not updated.

 

[johnny333]

Just give them a call. F them up... I used to have that kinda of problem too, even my name is not updated.

I tried to resolve the problem 9 years ago. Went to the counter staff to bug them about the problem. There are obviously problems in world class DBS. The internal processes of the company aren't working. The banks reputation is well deserved: Damn Bloody Slow, Damn Bloody Screwed,....

There's a point when you just have to give up & move on,

When I'm long gone, I imagine that DBS statemens will probably continue to be sent to my old address Can be another Spore ghost story

 

[jw5]

According to their management, they are "flushed with deposits".
I believe that this is due to the fact that every ft that comes to SG opens an account with them.
And of course all our big shots and fuddy duddy retirees also have accounts with them because of their apparent connections with the government.
And this is also why they will never really grow.

 

[johnny333]

According to their management, they are "flushed with deposits"........

I think there are still many small time POSB depositors banking there. I always see the long queues.

Personally prefer the shorter queues at Citibank & Maybank. Now that Citibank allows bill payment from their NET machines there's even less reason for a POSB account.