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Thread: Would you mind paying?

  1. #1

    Default Would you mind paying?

    Do you think that banks will impose service charge for using ATM?

  2. #2
    Senior Member Big Kahuna's Avatar
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    Default

    I have not seen them cutting nor reducing any service charge so I won't be surprised. At the end, like when they impose minimum balance and cheque book cost, find one bank that waive such cost if not suck thumb fly kite lot

  3. #3

    Default Re: Would you mind paying?

    Malaysia has been doing this for a while: they charge if you withdraw money more than x number of times a day.

  4. #4

    Default Re: Would you mind paying?

    If banks want to charge ATM transactions, they will have to charge transactions done at branch tellers first. Cost of doing ATM transactions are much less than at branches, and the proliferation of ATM is to reduce the dependency on branches.

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    Moderator Octarine's Avatar
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    Default Re: Would you mind paying?

    Paying to get my own money back? Are they nuts? It's standard duty and obligation of the bank to return my money. I would accept service charges if I withdraw from an ATM of another bank (say: using DBS card on UOB ATM) - but that's already too complex here for the banks .. in other countries it works like a charm.
    EOS

  6. #6
    Moderator diver-hloc's Avatar
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    Default Re: Would you mind paying?

    A better answer would be "Do You Have A Choice"...

    If one bank does this.... you could switch to another bank. But if ALL of them does the same ?? What are you going to do... line up at the Teller daily to draw $$ ?? Or after pay day, take every cents out of your account ??

    I could accept charging ppl who make more than 3 withdrawal a day... but the current 'limit' to 3 withdrawal a day should remain free.

    Scuba & Father... For Life

  7. #7
    Senior Member sinned79's Avatar
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    Default Re: Would you mind paying?

    hmm last time (10+ years ago), when i was posted to Kanchanaburi during my NS, i rem they charge service charges when u use atm card from other banks with other bank atms.

  8. #8

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    Same still now in SIN. 30cents for using other banks'ATM machine? Keep $$ at home lah interest is almost equal to zero...
    Canon 30D, G11, 50 f1.8II, 10-22 f3.5-4.5, 24-70 f2.8L, 70-200 f2.8L IS, EX580II

  9. #9

    Default Re: Would you mind paying?

    haha, no way i would pay to get a ATM withdrawal on my own account! i would rather keep the money under my pillow... in any case, any financial savvy people shouldnt hoard too much money as savings, most of it will be reinvested at a rate that is higher than inflation...

  10. #10
    Moderator diver-hloc's Avatar
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    Default Re: Would you mind paying?

    Quote Originally Posted by evilorgi View Post
    haha, no way i would pay to get a ATM withdrawal on my own account! i would rather keep the money under my pillow... in any case, any financial savvy people shouldnt hoard too much money as savings, most of it will be reinvested at a rate that is higher than inflation...

    Provided you have alot of extra $$$ at the 1st place.... and lets not forget that Stock Market can crash and property could also do the same.

    As for me... I have 2 bank account from 2 difference bank. One for my daily use and also which my boss Giro my pay into... the other is for the few 'K' I have as saving...

    Scuba & Father... For Life

  11. #11

    Default Re: Would you mind paying?

    A million also have a few K's in it
    Canon 30D, G11, 50 f1.8II, 10-22 f3.5-4.5, 24-70 f2.8L, 70-200 f2.8L IS, EX580II

  12. #12
    Moderator diver-hloc's Avatar
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    Default Re: Would you mind paying?

    Quote Originally Posted by airfins View Post
    A million also have a few K's in it

    Very very far from 5 digits....

    Scuba & Father... For Life

  13. #13
    Deregistered wootsk's Avatar
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    Default Re: Would you mind paying?

    Quote Originally Posted by sinned79 View Post
    hmm last time (10+ years ago), when i was posted to Kanchanaburi during my NS, i rem they charge service charges when u use atm card from other banks with other bank atms.
    Kanchanaburi, that brings back memory. The food in the canteen is cheap and good provided you don't see who is serving you. There is once I also throw up when they are putting make up for each other in front of the store as I am eating.

    On topic, I personally find charging for ATM transaction more than X number of time per day is fine with me, but charging for every ATM transaction is not. Think again how much we need to pay for other interesting stuff to the garment especially those related to cars, this is small fry.

  14. #14

    Default Re: Would you mind paying?

    if your power bills increase, so are the banks paying for those machines. Oil price is going up due to Middle East tensions, so i guess it will eventually be implemented

  15. #15
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    Default Re: Would you mind paying?

    Quote Originally Posted by Yappy View Post
    Do you think that banks will impose service charge for using ATM?
    If you work for DBS POSB and submit this as a company SSS, you can get a big bonus after it is implemented.
    It is a new and never ending income stream for the bank.
    Just don't tell your friends and neighbours who got bank account with DBS that you were the culprit who thought of it.

  16. #16
    Moderator diver-hloc's Avatar
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    Default Re: Would you mind paying?

    Quote Originally Posted by ricohflex View Post
    If you work for DBS POSB and submit this as a company SSS, you can get a big bonus after it is implemented.
    It is a new and never ending income stream for the bank.
    Just don't tell your friends and neighbours who got bank account with DBS that you were the culprit who thought of it.

    Or get caught in a photo... sitting on a sedan chair carried be 8 Amazorial woman in Bikinis...

    Scuba & Father... For Life

  17. #17

    Default Re: Would you mind paying?

    dont think posb will charge. i tried to withdraw $3000 cash on one of the branch, they said dont provide cash withdrawal service anymore...asked me to go other branch....if they dont provide cash withdrawl and yet want to charge people using ATM, i will switch bank.
    Last edited by ninelives; 17th January 2012 at 07:59 PM.
    Objection !!!

  18. #18

    Default Re: Would you mind paying?

    Just to add on what h been posted, having ATM te banks would:

    1. Less tellers which translate to less branches which is why POSB cuts down the number of branches
    2. Less branches mean less manpowers, less maintennce.... etc
    3. Banks handle less cash and less security problem and the risk is passed on to the customers

    The benefit for the customer is more convenience but also more risk

    So what do you think?

  19. #19
    Moderator catchlights's Avatar
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    Default Re: Would you mind paying?

    I will put the money in biscuit tin than put in the bank.
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  20. #20
    Moderator diver-hloc's Avatar
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    Default Re: Would you mind paying?

    Quote Originally Posted by catchlights View Post
    I will put the money in biscuit tin than put in the bank.

    That is possible with any or all of your extra cash... BUT

    * Paying bills by SAM/AXN Machine... (ATM Card Needed)
    * Paying by NETS (ATM Card Needed)
    * Paying by Cheuqes (Bank Account Needed)
    * Getting Paid by your Company (Bank Account Needed)


    Scuba & Father... For Life

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