Thought of the Day - Common Sense Lacking in Singapore Banks' Administration
I never have any problem in using the internet and ATM services provided by the banks in Hong Kong.
When I deposit money or do transfer money to another account, they will strike a good balance between "privacy" and providing "relevant" information.
For example, if I keyed in the account number to deposit or do transfer of money, when there is a confirmation page, it will show me the account number as well as partial name of the account holders., eg. Gxx Mxxg Sexx instead of a total blackout or lack of account information. This is to ensure that I am transferring to the correct account!
The printout slip should also review partial account number as well as partial account name to whom the money had been transferred or deposited into, instead of a total lack of account information!
As for the e-Statement, it is pretty silly to send me a "consolidated statement" with only opening and ending balances for my accounts!
Internet access only provide 6 months of details and what if I want to keep a set of my accounts?
Seriously, if this is the type of standards we have in Singapore banks, no wonder we are losing out to Hong Kong as a financial hub! And if our elite bankers are to remain so stupidly complacent and total lack of common sense in providing such customer service, then it is just a matter of time we are going to lose out to our neighbours as financial hub as well!
Goh Meng Seng
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9 comments:
Because the programmers doing the internet banking software for Singapore banks are not the same ones as those doing for Hong Kong banks lah. So of course the standard is different lah.
Just like the opposition in Singapore are not of the same kind as those in other countries mah.
If Goh Meng Seng were a Hongkie instead of a Sinkie, perhaps his political fate would also have been different. He probably would have been elected to a seat in the Hong Kong legislature.
GMS if you think the S'PORE banks are punishing in what had you had experience, than maybe all may find it difficult to make our way through the home loans, refinancing and repricing. The documentations and time with the banks , you may even required to take work leave. What is required below is severe dilemma.
§ Complete the attached application form
§ Copy of NRIC (front and back) / Passport
§ Income documents:
- If employed: latest computerized payslip, latest Income Tax Notice of Assessment and 12 months cpf contribution history
- If self-employed / commission-earner: last 2 years’ Income Tax Notice of Assessment
- Full set of tenancy agreement together with stamp duty certificate if there is any rental income
§ Tax portal statement – go to www.iras.gov.sg and log in with singpass – click on view my property portfolio – click on property address – print out page
§ Letter of offer from existing bank for refinance property
§ Latest CPF private property withdrawal statement
§ Latest statements for all car loans, credit cards (if utilised within the past 2 months), credit line, overdraft facilities or personal loans and letter of offer for mortgage loans that you may have
§ HDB page
When one come in contact with the banks, it contradicts the image that we are an efficient city.
When one come in contact with the banks, it contradicts the image that we are an efficient city.
7:30 PM
But there are also good reasons (ask the bank lah) why they are, or want to be, not efficient and got complained by a public figure like Goh Meng Seng.
Just as there are good reasons (ask Goh Meng Seng lah) why he want to form a new party to fight PAP in GE 2015 but instead got trounced hard hard by PAP in the process.
And if only outsiders know the good reasons, they will realise that the whole picture actually make sense, even though outcome is no good to some or even themselves.
Some banks have closed down some branches.
Aiyo Ah Goh don't anyhow say no common-cents leh. They are taking goodest care of all the coins leh.You can say our livehood got no common cents leh.
Comparison for refinancing/repricing. They have no common sense bone in their body?
1. Front and back I/C of all borrowers. (mandatory)
2. IRAS “My Property Portfolio” Page for Owner-Occupied Property (mandatory)
”
• Click on the property address that is “owner- occupied”
• Print out the page that indicates “Tax rate : Owner-Occupier”
*Kindly note printout to indicate date of printing and reflects IRAS logo
3. Income Documents (mandatory)
• Self-employed, commissioned or variable income earners: Latest Notice of Assessment
• Salaried Employees: Latest year Notice of Assessment and latest pay slip and Last 12 months CPF Contribution statement
• Overseas Employees: 3 months’ pay slips/Letter of Employment and 3 months bank statements reflecting crediting of salary
• Dividend income (if applicable)
- Latest CDP Statement
- Certification of latest year dividend income by a certified accountant
- Letter from company with corresponding bank statement showing crediting of latest year dividend
4. CPF Property Withdrawal Statement (mandatory by all registered owners)
”
• Print this statement to show Private Housing Property Withdrawal Details (print all if you own more than one property)
* The printout must clearly indicate your name, address of property, CPF amount used, and the date.
5. HDB Printout (mandatory)
• Please print this page
6. Statements for All Existing Credit Cards/Credit Line Statements (mandatory)
• Please provide statements which reflect cardholder’s name, card number and minimum payment amount
7. Details on other loans (for example: Car Loan, Housing Loan, etc)
• Original Loan Amount & Loan Tenure
• Outstanding Loan Amount & Remaining Loan Tenure
• Monthly Instalment
• Current Interest Rate
• Name of Financier
Are we surprised? Did they put the people into their decisions making?
too many orh pays at the top.
give them power and they will show
The following question was asked at a job interview a man had a few years ago. The question inspired him to change his outlook and how he approached problems.
You are driving along in your car on a wild, stormy night. You pass by a bus stop, and you see three people waiting for the bus:
1. An old lady who looks as if she is about to die.
2. An old friend who once saved your life.
3. The perfect woman you have been dreaming about.
Which one would you choose to offer a ride to, knowing that there could only be one passenger in your car?
Think before you continue reading. This is a moral/ethical dilemma that was once actually used as part of a job application.
You could pick up the old lady, because she is going to die, and thus you should save her first; or you could take the old friend because he once saved your life, and this would be the perfect chance to pay him back. However, you may never be able to find your perfect dream lover again.
The candidate who was hired (out of 200 applicants) had no trouble coming up with his answer. We love this. We might actually use it sometime for an interview situation.
He simply answered: “I would give the car keys to my old friend, and let him take the lady to the hospital. I would stay behind and wait for the bus with the woman of my dreams.”
The minister's answer would be : We would ordered a limo by phone and charged each of them Sg$1000 attached with solicitors letter.
Never forget to “Think Outside of the Box.”
Please SHARE this incredible answer with your friends today.
English especially from a bank?
“Updates in fees and charges guide.
We wish to inform you that the fees for marked CHEQUES have been revised.
$XXX per cheque + courier charges.”
Bank clarified that it was not the cheques but CHEQUE BOOK! OUCH !
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