Lastest S$ Deposit updates - Part 3

[bargin]

was at UOB Jem and ask CSO, cannot terminate or withdrawal with online banking, need to be done at the branch counter.

 

[silverbomb]

was at UOB Jem and ask CSO, cannot terminate or withdrawal with online banking, need to be done at the branch counter.

waiting for the 1 day someone feedback or UOB declares that online is possible to terminate.

 

[vsvs24]

What can that one or even two ambassadors do to make a difference to the long Q?

Makes a lot of difference from what I see at POSB branch near my house.

The ambassadors will screen to ask people what they need to do at the branch. If counter service is required, they give the Q tix. I see a lot of times no tix is issued. So the number of Q tix issued is kept low. Once you get your Q number the wait is not so long.

For those they do not issue tix, they will help them at the ATM or digital booth (replace ATM or token). They help to do replacement of passbook no need Q tix. Apply Tbill with CPF they bring them to the investment desk people no need Q tix. Answer queries and tell people that can be done online.

The ambassadors at that branch work very hard. Job tougher than tellers. Because have to deal with people queuing and a lot of time people keep approaching them to ask questions.

I was quite pissed off when I see some tellers attitude towards the ambassadors. They think they belong to a different class. They should be thankful to the ambassadors for reducing their work load.

Finally, these ambassadors because they have to know who to direct customers to and all the procedures, they end up having wealth of knowledge.

Once a staff at the desk was supposed to help me settle an issue due to bank error. He say need to email backend. 4 hrs later he still got no answer as backend ask him to approach another unit. After that he came back and say he was lucky to find someone who knows who he should be contacting at the backend and she will help me and takeover from him. To my surprise an ambassador took over. She called the correct dept, confirm the process and explain very clearly to me. And my issue was settled in the system the next working day.

 

[silverbomb]

Usually the ambassadors especially the local banks are seasoned bank retirees who were asked if they want to come back to work on contract basis. So it's no surprise they're quite knowledgeable than a typical part timer working for pocket money on holidays.

But I gotta acknowledge some of their patience, they have to deal with alot of old auntie uncle who either ask very long winded qns or very short fused cos they don't like to wait kind. Their skills in dialect is very much needed also, young ones won't possess dialect proficiency mostly.

 

[havetheveryfun]

For those they do not issue tix, they will help them at the ATM or digital booth (replace ATM or token). They help to do replacement of passbook no need Q tix. Apply Tbill with CPF they bring them to the investment desk people no need Q tix. Answer queries and tell people that can be done online.

yep but only usually works with banks that have space with a lot of atms.. namely only posb dbs this kind then will have .. the rest of the banks dont have that much atms or machines together in the same branch mostly..

anyway tbill can apply with CPF online meh? tot only the bank?

 

[vsvs24]

yep but only usually works with banks that have space with a lot of atms.. namely only posb dbs this kind then will have .. the rest of the banks dont have that much atms or machines together in the same branch mostly..

anyway tbill can apply with CPF online meh? tot only the bank?

CPF for tbill cannot. Fill up form

My this branch at lvl 3 has 3 normal ATM and 3 special ATM (the type where you can withdraw higher amount and choose denomination eg you want $10, $50 or $100 notes). Total 6 cash deposit cum ATM machine. Downstairs B1 NTUC has 1 ATM. MRT next to it has 2 more ATM. Total 9 ATM. Think break record.

Branch also have digital lobby to replace ATM and token and do other stuff. Have not explored.

 

[jywy2005]

Usually the ambassadors especially the local banks are seasoned bank retirees who were asked if they want to come back to work on contract basis. So it's no surprise they're quite knowledgeable than a typical part timer working for pocket money on holidays.

But I gotta acknowledge some of their patience, they have to deal with alot of old auntie uncle who either ask very long winded qns or very short fused cos they don't like to wait kind. Their skills in dialect is very much needed also, young ones won't possess dialect proficiency mostly.

I took my daughter to apply debit card and IB at POSB branch. The staff at the entrance will screen at the entrance, and tell you how long you expect to wait. They can guide you using iPad to do online transactions.

The staff at the video booth we’re also around to provide assistance. Mine was assisted by a temp staff. Think other banks dun have such a feature.

So I dun mind going to POSB /DBS to do my banking needs.

 

[pratik28]

For UOB cannot terminate FD online is 1 thing but funny is, their cust service got the audacity to ask me why i want to cancel the FD? hahaha. I thought the answer is obvious, promo rates offered by competitor banks. Banks should be expecting increase in volumes of FDs, savings accounts apply/terminate, not just for FD but even savings accounts or government securities, lol.

Like BEA offering 12 month FD 4.5% need to go branch for placement while CIMB offers 4.15% everything online. So its a choice i guess to avoid long queue, haha.

 

[vsvs24]

I took my daughter to apply debit card and IB at POSB branch. The staff at the entrance will screen at the entrance, and tell you how long you expect to wait. They can guide you using iPad to do online transactions.

The staff at the video booth we’re also around to provide assistance. Mine was assisted by a temp staff. Think other banks dun have such a feature.

So I dun mind going to POSB /DBS to do my banking needs.

The experience at POSB much better than UOB.

Last year CNY I ask UOB if they give out ang pow packet. The staff ask me to take Q number and get from teller.

Told him off. Covid still ask people to queue just to get ang pow packet. Then security guard quietly slip me ang pow packet.

 

[sohguanh]

Saw lot of readers sharing a lot of banks do not allow customer to do premature termination of FD online or via mobile. I understand the concept of FD is to hold to maturity. If they are worried that this cause a lot of customer to place, terminate creating a lot of un-necessary transaction or workload to counter staff etc, they can just implement penalty system like what DBS does. Online, mobile can do premature termination just need pay penalty. However I draw the line where penalty includes deduction from the principal. You can penalize and take away all the interest but never should touch the principal.

For readers who say there is a cost to building this premature termination of FD feature to online, mobile, well the banks can recoup the cost by penalizing the interest of that FD. Just don't give back to customer when they do that. So I think besides the cost to build this feature, there are other considerations banks are thinking? Imagine if counter staff can help to do premature termination of FD, it means the IT system can already do just this feature not released for customer to use in their online, mobile banking.

 

[bargin]

UOB and BOC is always long Q with uncles and aunties whenever there are changes to FD rate..
but BOC can still do online/mobile banking for placement or terminate FD as long as u have BOC savings account. They are chasing after the FD rates ...

 

[vsvs24]

UOB and BOC is always long Q with uncles and aunties whenever there are changes to FD rate..
but BOC can still do online banking for placement or terminate FD as long as u have BOC savings account

Problem with UOB is one counter serving. Maybe the branch and staff KPI is based on number of customers served. So they want to be busy to get higher bonus.

 

[sohguanh]

UOB and BOC is always long Q with uncles and aunties whenever there are changes to FD rate..
but BOC can still do online banking for placement or terminate FD as long as u have BOC savings account

The problem with uncles and aunties is some are really not IT savvy so even if it can be done via online, mobile banking, they will still go to branch to terminate, place FD. Imagine they go bank A cash out in physical cash put in thick envelope and go to bank B to deposit!!! What if along the way kena rob? Also bank B may request some proof that sum of cash is withdrawn from bank A before accepting.

 

[bargin]

The problem with uncles and aunties is some are really not IT savvy so even if it can be done via online, mobile banking, they will still go to branch to terminate, place FD. Imagine they go bank A cash out in physical cash put in thick envelope and go to bank B to deposit!!! What if along the way kena rob? Also bank B may request some proof that sum of cash is withdrawn from bank A before accepting.

With the removal of $1,000 note, Bank would probably issue CO to uncles and aunties for them to encash whichever bank they wan to place FD with ?

 

[hmyoth]

My own experience with UOB. Never been to any bank outlets for many many years but lately due to cpf T bill application , have to go UOB branch. Half an hour before opening already got 10 person Q-ing outside … if u go exactly at 930am. At least 20 person in front of you and prepare to wait 2 hours before ur turn.

 

[sohguanh]

With the removal of $1,000 note, Bank would probably issue CO to uncles and aunties for them to encash whichever bank they wan to place FD with ?

I also thought so but I think customer can have a choice to take CO or physical cash no? Bank branch I saw the two aunties chatting they prefer to hold physical cash as CO just a piece of paper they scared lose it compared to a big stack of notes (I saw they are all $100 note wonder which bank they withdraw from) or again auntie want $100 explicitly as $1000 is easy to lose it? Sometimes need to put yourself in the shoes of those aunties who are from the previous era and their mindset and thinking.

 

[bargin]

Ya lor, these aunties need to change their mindset, it's easier to lose $100 notes than a piece of paper CO which is issue to their name and get replacement if lose CO rather than $100 notes. Worse if kena rob on the way to the Bank. Bank will request proof if deposit cash for placement of FD which I have experience at ICBC. ICBC will require you to show receipt or ATM withdrawal receipt for cash deposit.

 

[wildcatorangutan]

Citigold (minimum = 10k) is now 4% p.a. for 6 months. Source: RM.

 

[DevilPlate]

I also thought so but I think customer can have a choice to take CO or physical cash no? Bank branch I saw the two aunties chatting they prefer to hold physical cash as CO just a piece of paper they scared lose it compared to a big stack of notes (I saw they are all $100 note wonder which bank they withdraw from) or again auntie want $100 explicitly as $1000 is easy to lose it? Sometimes need to put yourself in the shoes of those aunties who are from the previous era and their mindset and thinking.

Banks no more issue $1k notes.

$100 is the biggest denomination liao

 

[DenOOO]

The experience at POSB much better than UOB.

Last year CNY I ask UOB if they give out ang pow packet. The staff ask me to take Q number and get from teller.

Told him off. Covid still ask people to queue just to get ang pow packet. Then security guard quietly slip me ang pow packet.

UOB at Woodlands Civic Centre, it was the security guard giving out cartons of ang baos, no questions asked.

Many aunties take 5-10 packs each.