soCash

[Mecisteus]

I wonder how come socash has monopoly in this. Why have other players not entered this and why isn't DBS offering this in their own app, that would make it even more widespread adoption.

This is quite a simplistic view.

The idea is encourage more people to deal less frequently with ATM withdrawals and deposits.

If less people are going to ATM, then number of ATM machines can reduce. Banks save on maintenance costs.

Now banks are subsidising soCash a little I believe.

nekoarc is right. Once the promo is over, I think soCash will be over too.

I don't think this system is going to work in the long run.

 

[peppermint7]

Yeah I went to 2 shops. They said don't have a shop promo code.

Instead, he gave me a flyer with FLYER promo code. You can get +$2. You can try this code.

And a pop socket.

Oh so after u find the shop with promo code then u request the $ from socash app on the spot?

 

[revhappy]

The banks would totally do it themselves if they think it's worth it, but only after seeing soCash sort of succeed first. Also, DBS already has POSB Cash-Point.

POSB cash point is a failure, because it works with only certain stores.

What I like about socash is that it works with mom and pop stores, there is one right below my HDB block.

The main reason I started using socash is to bypass maximum ATM withdrawal requirement for the the DBS visa paywave promo. But I still find it convenient, the nearest ATM from my house is about 1/2 km away. So I have to remember that I need to withdraw cash. In case of socash, I just walk down and withdraw cash whenever I want.

For the shop keeper, it is like banking his cash and also people will likely buy from the shop if they keep visiting him to withdraw cash.

I understand that the incentive for the shopkeeper is not so high compared to the withdrawers.

Another extension of socash would be directly paying for the things you buy, bypassing the Nets network. This I am sure shopkeepers would love, since they save on the fees. Customers there is not much difference since nets doesn't give them points.

So with socash if all mom and pop stores accept for payment, then there is no need to withdraw cash at all.

 

[Mecisteus]

POSB cash point is a failure, because it works with only certain stores.

What I like about socash is that it works with mom and pop stores, there is one right below my HDB block.

Epic failure.

Zero merchant at Paya Lebar MRT.

Once I milk the free cash, I don't think I will be using it anymore.

 

[peppermint7]

Lol i walk all the way to find a store and ask for shop promo code. All she says is I don't know.

 

[peppermint7]

Yeah I went to 2 shops. They said don't have a shop promo code.

Instead, he gave me a flyer with FLYER promo code. You can get +$2. You can try this code.

And a pop socket.

I'll try your FLYER code thanks!

 

[Mecisteus]

I'll try your FLYER code thanks!

Yeah I went to 2 mamak shops.

All no promo code.

FLYER should still work.

 

[peppermint7]

Yeah I went to 2 mamak shops.

All no promo code.

FLYER should still work.

Strange.. I see i have $4 free cash. Then when I pay it deduct me exact exact $30. Never offset the $4 -_-

Now if I were to thick skin go in again. I will b paying $28 For $30 I saw on my app

Not sure where the other $2 goes

 

[NTTDoCoMo]

Strange.. I see i have $4 free cash. Then when I pay it deduct me exact exact $30. Never offset the $4 -_-

Now if I were to thick skin go in again. I will b paying $28 For $30 I saw on my app

Not sure where the other $2 goes

You can click on the FreeCash shown on the top right hand corner. It will show the breakdown of the FreeCash. Everytime you withdraw, it will use the earliest FreeCash available.

 

[Mecisteus]

Strange.. I see i have $4 free cash. Then when I pay it deduct me exact exact $30. Never offset the $4 -_-

Now if I were to thick skin go in again. I will b paying $28 For $30 I saw on my app ��

Not sure where the other $2 goes

The $4 free cash are still locked.

Can unlock after 1st withawal only.

Try withdraw $10 again.

 

[peppermint7]

Strange.. I see i have $4 free cash. Then when I pay it deduct me exact exact $30. Never offset the $4 -_-

Now if I were to thick skin go in again. I will b paying $28 For $30 I saw on my app

Not sure where the other $2 goes

The lady at Ubi minimart has a very smelly face and she was rude! Not all store welcome socash customer it seems -_-

My first withdraw i pay $30
2nd i paid $28 For $30
Now I have $2.60 lock inside. So tomorrow I can draw them all out issit?

Thanks all the Sifu for your kind guidance

 

[NTTDoCoMo]

The lady at Ubi minimart has a very smelly face and she was rude! Not all store welcome socash customer it seems -_-

My first withdraw i pay $30
2nd i paid $28 For $30
Now I have $2.60 lock inside. So tomorrow I can draw them all out issit?

Thanks all the Sifu for your kind guidance

Think depend on whether you have FreeCash left after your withdrawal. You click the FreeCash icon on the top right and see the breakdown, each withdrawal can only use one FreeCash.

 

[peppermint7]

Think depend on whether you have FreeCash left after your withdrawal. You click the FreeCash icon on the top right and see the breakdown, each withdrawal can only use one FreeCash.

Ohh i left $2. 30c. 30c. Meaning i got to cash out 3 times to get the $2.60?

 

[NTTDoCoMo]

Ohh i left $2. 30c. 30c. Meaning i got to cash out 3 times to get the $2.60?

Yes. Each Withdrawal can only use one FreeCash. New FreeCash might be awarded

 

[peppermint7]

Yes. Each Withdrawal one FreeCash. New FreeCash might be awarded

Better than nothing. Though it's a hassle to walk a distance to find a store

Thank you so much all you kind souls!

 

[Mecisteus]

My wife managed to find a shop with $3 promo code. But cannot stack on top of the FLYER code.

The uncle was so happy to encourage her to withdraw 3 times max.

 

[peppermint7]

My wife managed to find a shop with $3 promo code. But cannot stack on top of the FLYER code.

The uncle was so happy to encourage her to withdraw 3 times max.

So lucky her! This ubi lady I wanted to draw 3rd time she says cannot cannot! Got ppl in the store somemore how embarrassing

 

[Mecisteus]

So lucky her! This ubi lady I wanted to draw 3rd time she says cannot cannot! Got ppl in the store somemore how embarrassing

Yeah I think it depends on shops.

Some are eager. Some are not so welcoming. Don't visit the latter.

The shop I went yesterday told me max 1 withdrawal per person.

 

[kendaime]

Look out for occasional campaigns with $1 free cash!
However, I just realised that freecash now can be $0

Anw, you can download @ https://link.socash.io/IoJIDnoDIV

 

[IronMan123]

Tired of queueing up at ATMs? Use soCash instead. Get FreeCash upon signing up! T&C apply.
Download using link:
https://link.socash.io/lvCyzzguGV

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