Friday, August 12, 2016

Bad service from DBS Bank

I wanted to pay my Standard Chartered credit card bill by GIRO from my DBS account. My relationship manager told me that I have to get a manual from from SC Bank, sign it and send it to SC Bank for processing.

DBS allows my to go online and submit my GIRO request to many organizations. But they don't allow it for payment of credit card to another bank? Why?

This is another example of the wasteful and inefficient practices that is allowed to happen in Singapore.

I wonder if the government or MAS will step in and ask the banks to wake up and help to improve productivity and reduce waste in Singapore.  

1 comment:

Anonymous said...

DBS also states that when withdrawing cash from ATMs outside of Singapore, they will not be charged $5 "service" fee

ATMs in Australia ( certain banks only ) and in Hong Kong through
DBS (HKG) and Dao Heng banks, and in Taiwan.

However, my own experience is that there is no break down of the transaction. All you see is a withdrawal in local currency and the equivalent amount in SGD. Calculations also will show that the exchange rates are much more expensive than changing with money changers in SIN or HKG.

Just sharing.

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