Monday, January 03, 2011

Bank transfer by standing order

The Straits Times Forum published a letter from Stuart King about the time taken by the bank to make a transfer from one bank to another in Singapore. He asked why does it have to take three days, when banks are not connected electronically and can make the transfer instantaneously.

This is just another example where the "free market" does not work. MAS has to come in and tell the banks to improve their service to the public!
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1 comment:

Simon said...

For a ordinary investors, Singapore is like a cowboy town. There are many financial advisors going around to look for unsuspicious investors. If those financial advisors make money, they will return your principal and interest. If the investment turns sour, you will find an empty office and a poor clerk who does not know where is her employer is.

MAs will tell you that they can not help you to get back your money because it is not in their job descriptions. Just wondering who can help this group of investors to get back their money.

January 04, 2011 3:07 PM

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