At Last : DBS Apologised On Levy Charged In Coin-Deposit

[Maxus-MIFA9]

I posted few days ago (6/12/07) on POSB who charges $4.50 for coins deposit by a child who was given a "Piggy Bank" in form of a 'can' by POSB in school so as to encourage him to save. His mother was fuming mad and wrote to the ST Forum page to complain.

 

In today ST Forum (11/12/07) read: "POSB Staff Wrong to Levy Coin-deposit Fee"

 

DBS reply : We are disappointed that we failed Mdm Tan's son when he went to our branch to deposit his saving into his personal POSB account.

 

In conjunction with the Children's Day this year, we produce specially-designed POSBkids Savers coin banks tp encourage our young customers to start saving. When the coin banks are filled up, the children can bring their savings to their favourite POSB branch and deposit the money into their POSBkids saving accounts. No coin-deposit fee is levied for these children.

 

We are sorry that our staff at the branch made a mistake and deducted the amount from his account. We have spoken to Mdm Tan and apologised to her and her son, and have since refunded the fee to his account.

 

 

At least DSB had clear the air in regards to saving by child.

 

My only hope is that it could be extended to all form of coins saving by the child in regardless of whether the "Piggy Bank" is issued by POSB or not. As well the coins is creditted into the POSBkids account, the coin-deposit levy should be waived.

[Sony]

And we can start see vendors getting their kids to open account to take advantages

[Mzrmazda3]

My only hope is that it could be extended to all form of coins saving by the child in regardless of whether the "Piggy Bank" is issued by POSB or not. As well the coins is creditted into the POSBkids account, the coin-deposit levy should be waived.

 

I share the same thoughts as you but there would be some 'Black Sheeps' whom would exploited it for their own personal benefits i.e Those hawkers whom collected many coins could jus bring their coins & deposit into their Gin Na's account without paying the levy charges for coin deposit and then withdraw them ... If the amount is big then they could saving a few ten bucks on the levy charges

 

Jus sharing my thoughts niah ...

[Adrianli]

I only use UOB for coin deposits. The first 199 coins are free. I deposit my spare coins daily to a coin box n deposit it when its full. So far so good.

 

Dont underestimate these coins, once I saved up to S$400+ of coins!!! Need a few trip to UOB to deposit. Now my coin box estimate ard S$200+ already.

[Rickster]

Yea, I have the habit of emptying my coins into a namecard box on my office desk. Easily can accumilate to about $10 per week!

[Maxus-MIFA9]

Ha...ha...ha... that's was also on my mind. There bound to be some who would take advantage of this.

 

Since DBS is making money........ let them go and thing of a system to beat those who take advantage.

 

We don't give to much ideals to them. Who knows, their CEO's is surfing MCF now.....

 

[Mustank]

the clerk tua kee liao

[Maxus-MIFA9]

Yup, bonus cut half liao...

 

[Sony]

and each trip need to spend time, petrol, car park, waiting time, etc. just to put 199 pieces of coin. If it's 10cents, how to justify the ROI

 

Frankly, the better ways is to use it. My Mum used to pack them into 10 or 20dollars and use it when she go market. Those hawkers welcome them with open arm. at times, got extra veg or meat..

[Mustank]

yap, his nick is wolverman

 

eh!!!!! where is wolverman??????how come don see him around amymore?????

[Maxus-MIFA9]

"eh!!!!! where is wolverman??????how come don see him around amymore????? "

 

 

busy shopping for Christmas gifts......

 

[Adrianli]

I used to walk to the bank. I stay Novena n visit the UOB branch at Novena Sq. There are quite a few counters n the queue move very fast unlike POSB. I only do coin deposit once or twice a yr when my coin box is full.

 

No trouble at all.

 

 

Now I stay Sembawang, my wife help me do coin deposit when she go Yishun to buy pet food. We dont purposely visit the bank for coin deposit. Only visit it when we know we are ard that area.

[Sony]

nah.. they sure will set a limit on the amount of coins.

 

If we can think of it, why not the bank?

[Sony]

but 199 pieces a time. so I guess your piggy is not been well fed

[Adrianli]

My piggy can hold more than 199 pcs lah. Jus that when its full, I take out 199 pcs n pack them in plastic bag ready to be deposited anytime.

[Nutty]

Wa... you got fetish for coins one ah?

 

I always make sure I clear away as much coins as possible. Troublesome to keep...

 

 

 

  Quote

I only use UOB for coin deposits. The first 199 coins are free. I deposit my spare coins daily to a coin box n deposit it when its full. So far so good.

 

Dont underestimate these coins, once I saved up to S$400+ of coins!!! Need a few trip to UOB to deposit. Now my coin box estimate ard S$200+ already.

[Adrianli]

I also make sure I clear my coins end of the day but there will still some left. So I jus dump them into my coin box.

[Jc777]

  Quote

And we can start see vendors getting their kids to open account to take advantages

in every system there would be people who try to take advantage (or cheat). probably with this, they might come up with a counter-measures to prevent people from withdrawing large amount of money from these accounts or set a limit to the number of coins (or amount of money) they can be deposited.