Someone brought this news article to my attention. It said that Singapore plan to be cheque-free by 2025.
https://www.straitstimes.com/business/banking/singapore-aiming-to-become-a-cheque-free-country-by-2025-ong-ye-kung?
That is encouraging.
I observe that this article was 2 years old. It was made by the minister, as a board director of MAS, when PayNow was launched.
What has been the progress? How many cheques are used in Singapore in 2018 and what has been the progress in reducing the number of cheques? I did not see any update.
This is how I see the events.
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12 comments:
Electronic internet driving people up the wall.
Applied for a UOB supplementary bank card on the internet. The url they sent doesnt open.
It just go round and round like a wheel turning. Doesnt open. Gave up after half an hour.
There is a link to contact them by email. The computer-generated reply came back that they cant do bank business by email due to security reasons.
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Money without life is SEE SUAK🤔
No money no life is SEE KEOW KEOW😧
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Unemployed? Pay cut? Here’s what SG homeowners should do now9(https://www.99.co/blog/singapore/)
#4: Bring on co-owners from the family
If they’re okay with it, you could get other family members to be co-owners and take on part of the mortgage. For example, if your children are of working age, you could list them as co-owners right now, and get them to help with the housing costs.
Obviously, this might lead to disagreements and fallouts down the road, depending on the personalities at play, so this is not a solution to be taken without due consideration.
There were some people in such dire situations, did go to the bank asking to add their working children's names for the CPF contributions. Was told under MAS regulations, the loan needed to be paid off and start it off as a new purchase with the 4% stamp duty to be paid in cash. That is the kind of people we have for the country.🤢🤢🤢
July 31, 2020 2:47 PM
My aircon servicemen do a few of my aircons in one go when they come to my premises. Sometimes I do not have enough cash to pay, so I paid by cheque. After the day ended they handed all the cheques to the company collected from different homes.
No need repay loan. Just need to pay bank lawyer's fees plus stamp duty as it is a contract (i.e. the mortgage) variation.
With banks it will cost a few K. Who ask you to be so gian png in the 1st place?
If HDB loan, HDB will just charge you a couple hundred dollars for adding on additional owners.
When one is ready to buy a property, needs to pay by cheque 1% in the name of the owner.
When one is ready to buy a property, needs to pay by cheque 1% in the name of the owner.
Inspiration:
"We live in a world where the laws are getting so tight that management has changed to micro-management to quantum-management to paralysis."
Jane Siberry
"You do not lead by hitting people over the head -- that's assault, not leadership."
Dwight Eisenhower
"Micromanagers tell. Leaders ask."
Jo Miller
“Strive not to be a success, but rather to be of value.” — Albert Einstein
Next on the list to phase out not only cheques but couple having sex, the way things are going!
The reason a few (not all countries) were doing cashless, we have to do it. We do not have our own identity or whether people were given the choice for wider payment or convenience. A lot of non-value thwarts in the lead. We have a Prime Minister who just approves what they want to do. Like that I also can.
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Net banking
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