Monday, August 17, 2009

It is easy to be cheated

Here is a reminder about the link on the right panel, which gives you a list of articles on how you can be cheated, and how to avoid being cheated.

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2 comments:

Anonymous said...

It's amazing when I went to deposit some money into a F.D. my so called relationship manager one month later called me to upgrade me to priority customer status. But i had to sign a new application form and she asked to meet me at my home. When she arrived then I realised her motive - upgrading me was secondary, trying to sell me some investment schemes was primary. I told her if I want to invest I would invest in hongkong, not Singapore. What makes her think I would trust RM
from FIs anymore. By the way this is my RM from UOB Bank. What nerve! So folks be careful when your Bank RM phones you. FIs here are good only for F.D. Never mind the lecture you would receive that F.D. interest are only 0 something percent, and blah blah blah they would go on. I shut her off by saying I want to be my own fund manager.

August 17, 2009 10:38 PM
Anonymous said...

This is understandable. For FDs, RMs earn zero commission. But not those investment products. Banks don't need RMs if people go for FDs only. And banks earn much more from investment products, for which they share a bit with their RMs.

You may also notice that most RMs are those sweet, sexy, young and of course female types, and of course banks hire them for a reason. And they are even charming and know how to flatter clients, especially older men, like saying this investment is exclusively for priority clients, you are specially invited, personal visit to any place of your convenience etc etc.

I have encountered them all. But once you are firm and turn them down, usually they don't bother you anymore. And of course their service to you on other banking matters are also affected accordingly. No more sweet and charming.

August 18, 2009 12:52 AM

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