I had tried it for one month only, and relationship manager told me if the foreign currency depreciates against the other (i.e. S$), the bank would close the account immediately, and I had to bear the exchange loss, and thus the principal capital invested would be affected, making a loss. When the Euro looked shaky, I closed the account against advice, and I was right. Never trust bank relationship managers, like what MAS said, you die your own fault.
You can see how hard HK regulators work and to the extend DBS HK is compensating HK investors for misrepresentation or mis-selling.
The only thing I see MAS work very hard is how to publish good statistic so that their Chairman and Deputy Chairman has a easier time when asking for a pay raise....
Sometime I think being a Sinaporean is a disadvantage..
I had tried it for one month only, and relationship manager told me if the foreign currency depreciates against the other (i.e.
ReplyDeleteS$), the bank would close the account immediately, and I had to bear the exchange loss, and thus the principal capital invested would be affected, making a loss.
When the Euro looked shaky, I closed the account against advice, and I was right. Never trust bank relationship managers, like what MAS said, you die your own fault.
MAS has a golden rule i.e. NMP : Not My Problem.
ReplyDeleteYou can see how hard HK regulators work and to the extend DBS HK is compensating HK investors for misrepresentation or mis-selling.
The only thing I see MAS work very hard is how to publish good statistic so that their Chairman and Deputy Chairman has a easier time when asking for a pay raise....
Sometime I think being a Sinaporean is a disadvantage..