What does a bank’s ‘kill switch’ kill?

[royalmix]

What does a bank’s ‘kill switch’ kill? It became a point of contention after a victim lost money.​

https://www.straitstimes.com/singap...hOuESIsyEl0P-1_iyw_aem_mhDCLgU76dfmDtNe-YcEuw


Not all banks communicate which services their kill switches affect on their websites, and customers are none the wiser.

I dun want my giros to be killed!

A Monetary Authority of Singapore (MAS) spokesperson told The Straits Times: “MAS expects retail banks to provide a way for customers to promptly disable mobile and online banking access and outward payment transfers. Banks should disclose clearly to customers the access and transactions that will be disabled and which functions or transactions will still be operational and give customers the opportunity to disable those.”

 

[royalmix]

Related to this issue:

askST: Are e-SIMs safe?​

https://www.straitstimes.com/singapore/askst-are-e-sims-safe

 

[wira]

What does a bank’s ‘kill switch’ kill? It became a point of contention after a victim lost money.​

https://www.straitstimes.com/singap...hOuESIsyEl0P-1_iyw_aem_mhDCLgU76dfmDtNe-YcEuw


Not all banks communicate which services their kill switches affect on their websites, and customers are none the wiser.

I dun want my giros to be killed!

A Monetary Authority of Singapore (MAS) spokesperson told The Straits Times: “MAS expects retail banks to provide a way for customers to promptly disable mobile and online banking access and outward payment transfers. Banks should disclose clearly to customers the access and transactions that will be disabled and which functions or transactions will still be operational and give customers the opportunity to disable those.”

actually i do think they should stop those eGIRO setups to wallet apps like Wise, Favepay, Grab, etc. these are the main culprits for the scams