Having multiple bank account increase the possibilities that scam SMS applies to you and increase the chances that you being scammed. For example, I often receives fake SMSes from OCBC and DBS scammers. How I know is fake? Because I do not have bank account with these banks.
So actually safest bank is banks like BOC or chica bank ? Because scammer also know the yield is so low. Why bother, scamming is like casting a net and hoping to catch fish.... If go cast a net in waters with less fish, chances are lower ... How many ppl use those banks?
1. What is the Deposit Insurance Scheme?
The DI Scheme protects insured deposits held with a full bank or finance company. Insured depositors will be compensated up to a maximum of S$75,000 in the event a DI Scheme member fails.
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