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Thread: DBS Bank deducts payment from NS allowance, leaves only $1 in account

  1. #41
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    Default Re: DBS Bank deducts payment from NS allowance, leaves only $1 in account

    Quote Originally Posted by poohbear
    What if each of us from CS, pledge $1 , at least there's money for them to pass CNY.
    Hard... so many can empathise with KT... and I ask for pledges/donations already everybody siam the thread... it's going to be very hard...

  2. #42
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    Default Re: DBS Bank deducts payment from NS allowance, leaves only $1 in account

    Quote Originally Posted by espn
    Hard... so many can empathise with KT... and I ask for pledges/donations already everybody siam the thread... it's going to be very hard...
    mi catch no ball

  3. #43
    Senior Member poohbear's Avatar
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    Default Re: DBS Bank deducts payment from NS allowance, leaves only $1 in account

    Quote Originally Posted by espn
    Hard... so many can empathise with KT... and I ask for pledges/donations already everybody siam the thread... it's going to be very hard...
    Yeap i know. Just that I feel so sorry for the guy.

  4. #44
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    Default Re: DBS Bank deducts payment from NS allowance, leaves only $1 in account

    life goes on, those who have not tasted poverty will look at it differently. in some cases I agree and disagree on the topic, no matter what, payment must be met through the contract to repay debts. But given the situation, at least have some compassion.
    I lup SG, but SG don't love me...

  5. #45
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    Default Re: DBS Bank deducts payment from NS allowance, leaves only $1 in account

    hmmm... he could sign on though...

  6. #46
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    Default Re: DBS Bank deducts payment from NS allowance, leaves only $1 in account

    well, it was'nt like he loaned the money and gambled away, if he did, then derserve him right.

    The loan was a chance to study and maybe, just maybe to have a better future. Yes he blew it, and again perhaps to circumstances.
    I lup SG, but SG don't love me...

  7. #47

    Default Re: DBS Bank deducts payment from NS allowance, leaves only $1 in account

    I guess without fully knowing that person, we can never have a clear picture of the entire incident (including the "failed studies" part) - so I think let's not speculate on that part.

    I think what seems to be one of the issue(s) are the "unauthorized" withdrawals from the account.

    From what I seem to recall from getting an NUS study loan from DBS, there was an clause where it mentioned that the bank has the right to divulge all DBS/POSB account related information under the borrower (that made me a little queasy), but I can't seem to remember seeing such an clause that allows the bank to perform such transcations.

    But IMHO, from the tone of the writer's letter, it seems that he feels that he should be automatically granted an "exception" due to his small loan amount.

    Quote Originally Posted by "
    What is $8,000 to DBS Bank? What is $400 to DBS Bank?"
    A small-amount loan does not necessarily be of great significance to the bank's profitability, but a bank has rules to run. There should be uniformity across such policy implementations, but certainly, such exemptions should be granted on a case-by-case basis, based on each case's unique circumstances.

    He should also seek for financial assistance from MINDEF - although this may be difficult due to being a recruit presently.

    But then again, we shouldn't take this story at face value - take a look at the other side of the coin first.

    While we are at the issue of banks.. see this: http://straitstimes.asia1.com.sg/for...64726,00.html?

  8. #48
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    Default Re: DBS Bank deducts payment from NS allowance, leaves only $1 in account

    Not all people have the same IQ and EQ. Some don't need to study a lot and can pass with flying colour. Some study like sh.t but still failed.

    Similiarly some can juggle work and study but some cannot. He could be one of those cannot.

    Not trying to take side but he did try to repay the loan. BTW he took a loan. Whether he passed or failed, he still have to pay back the bank. Only different could be the amount or the repayment period. He even paid the interest ($500) and other charges. One of the officer has agreed to help him to look into his appeal for deferment of the payment till after his NS. He even authorised the bank to debit his account at $100 a month out of my $350 National Service allowance.

    To wipe out his account without informing him? I think this is uncalled for especially it is near CNY.

    SIGH..... Look like we have lost the human touch.....

    Where is the compassion? DBS is here to make profit but it is also run by human being.

  9. #49
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    Default Re: DBS Bank deducts payment from NS allowance, leaves only $1 in account

    Quote Originally Posted by Ola
    To wipe out his account without informing him? I think this is uncalled for especially it is near CNY.

    SIGH..... Look like we have lost the human touch.....

    Where is the compassion? DBS is here to make profit but it is also run by human being.
    PS: On the second thought, don't put all eggs into one basket. If not, one day you'll find all eggs are gone!

  10. #50

    Default Re: DBS Bank deducts payment from NS allowance, leaves only $1 in account

    i'm surprised that guy didnt went to his PC to state his case to allow him to work after office hours perhaps. somehow i felt that guy didn't do the most he could do. honestly poly is not difficult to pass (pass as in really pass, scrap thru type), unless he doesn't like his course.

    but of course without more details, it's too easy for anyone of us to speculate and talk ****
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  11. #51

    Default Re: DBS Bank deducts payment from NS allowance, leaves only $1 in account

    Quote Originally Posted by Ola
    Not all people have the same IQ and EQ. Some don't need to study a lot and can pass with flying colour. Some study like sh.t but still failed.

    Similiarly some can juggle work and study but some cannot. He could be one of those cannot.

    Not trying to take side but he did try to repay the loan. BTW he took a loan. Whether he passed or failed, he still have to pay back the bank. Only different could be the amount or the repayment period. He even paid the interest ($500) and other charges. One of the officer has agreed to help him to look into his appeal for deferment of the payment till after his NS. He even authorised the bank to debit his account at $100 a month out of my $350 National Service allowance.

    To wipe out his account without informing him? I think this is uncalled for especially it is near CNY.

    SIGH..... Look like we have lost the human touch.....

    Where is the compassion? DBS is here to make profit but it is also run by human being.
    In this modern society nowadays, most people lives according to rules and regulations, be it set by our govenment or the companies. Things happen and people will act accordingly by the rules. Not like during the 70's where kampong spirit and human care is around.

    This guy as what he wrote, comes from a real poor family where his father ran away and this brother is somewhere else busy making $$ and less care about him and his mother. I can imagine and see how his life can be at such a state. He wrote to the press not to ask for $$$ but need help to defer his payment. I respect him on this.

    May God Bless him.

  12. #52

    Default Re: DBS Bank deducts payment from NS allowance, leaves only $1 in account

    Quote Originally Posted by Del_CtrlnoAlt
    dunno will i get shoot my head off here if i say tis... but here goes...

    there is no free meal in this world, if like he said himself, he gotten a study loan, and he should know the consequences if he flung, and now that dbs is doing what in proper procedure.

    not sure if the guy does have a black & white to support his deferment scheme, but end of the day, its still black & white wins, if the officer just say it out of his mouth just to pacify him, i think he in deep trouble.

    in corporate world, ppl just think about profits... and also generating them, negative publicity however does not welcome profits, thats a sad fact DBS did not anticipate. But from a neutral point of view (clear headed, non emotional), the guy should have done if he gets his loan, and understand the contract, and fulfil it. And y din anybody say anything nice about DBS when they gave him a deferment previously?

    Anyway, hope the guy got relatives who can really help him just pay off the loan, or get some interest free loan for infinity dates (highly impossible).
    DBS might not be a charity, but if they want to do this, they shdn't agree to the guy's request to debit $100/mth from his account in the first place (assuming wat the guy said is true), and not to go back on their words without even informing him.

  13. #53

    Default Re: DBS Bank deducts payment from NS allowance, leaves only $1 in account

    It's just purely business, you sign a contract with a company. After you fail to uphold your end of the contract, you cry foul..... In this world there is no free lunch and its hardship that make us stronger. Instead of whining and finding the time to write letters to the press, why not find the time to find a way to make money to make ends meet? Also there are numerous cases of people who had to work and study at the same time. They are not smart or brillant but hardworking and they didnt whine about how they are unfairly treated.

  14. #54

    Default Closed my DBS / POSB accounts long back.

    It's because of their pathetic service I closed all my accounts with DBS some years back. When I was with POSB before the merger it was quite smooth. After the merger, all the screw-ups started happening. At one point I would get my credit card bills just 2-3 days before the payment deadline. They would send me tons of spam, sometimes as much as 3-4 letters a week (condo, country club etc).

    Both my wife and I had POSB accounts with cheque books. One day by mistake my wife used my cheque book and signed. To my horror, DBS had actually honoured the cheque, even though the signatures are vastly different.

    My experience with every other bank here in Singapore is better than DBS.

  15. #55

    Default Re: Closed my DBS / POSB accounts long back.

    Quote Originally Posted by sriram
    It's because of their pathetic service I closed all my accounts with DBS some years back. When I was with POSB before the merger it was quite smooth. After the merger, all the screw-ups started happening. At one point I would get my credit card bills just 2-3 days before the payment deadline. They would send me tons of spam, sometimes as much as 3-4 letters a week (condo, country club etc).

    Both my wife and I had POSB accounts with cheque books. One day by mistake my wife used my cheque book and signed. To my horror, DBS had actually honoured the cheque, even though the signatures are vastly different.

    My experience with every other bank here in Singapore is better than DBS.
    When i was working in a bank, each cheque that came thru to be cashed in was manually checked by my manager (for signatures difference) and several other colleagues for other misc stuff (date, amt etc). so someone might have missed the signature difference. -shrugs-

    imo, if Wan had stated explicitly that he is only able to allow DBS to deduct $100 from his acct every month, then it was wrong of DBS to deduct the additional amount without informing him. the least DBS could do is to call Wan to inform him.

  16. #56

    Default Re: DBS Bank deducts payment from NS allowance, leaves only $1 in account

    Quote Originally Posted by centuryegg
    It's just purely business, you sign a contract with a company. After you fail to uphold your end of the contract, you cry foul..... In this world there is no free lunch and its hardship that make us stronger. Instead of whining and finding the time to write letters to the press, why not find the time to find a way to make money to make ends meet? Also there are numerous cases of people who had to work and study at the same time. They are not smart or brillant but hardworking and they didnt whine about how they are unfairly treated.
    Here we go again.

    I don't think you understand what the aggreived has wrote in his letter.

  17. #57

    Default Re: DBS Bank deducts payment from NS allowance, leaves only $1 in account

    Quote Originally Posted by Parchiao
    Someone in DBS SUCKS and that someone ought to be FIRED!
    who ah?

  18. #58

    Default Re: DBS Bank deducts payment from NS allowance, leaves only $1 in account

    i remember a many yrs ago..there was a point in time when i had $2.56 in my bank account. lol

  19. #59
    Senior Member poohbear's Avatar
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    Default Re: DBS Bank deducts payment from NS allowance, leaves only $1 in account

    Quote Originally Posted by Parchiao
    Here we go again.

    I don't think you understand what the aggreived has wrote in his letter.
    haha agreed with you

  20. #60
    Senior Member poohbear's Avatar
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    Default Re: DBS Bank deducts payment from NS allowance, leaves only $1 in account

    Quote Originally Posted by centuryegg
    It's just purely business, you sign a contract with a company. After you fail to uphold your end of the contract, you cry foul..... In this world there is no free lunch and its hardship that make us stronger. Instead of whining and finding the time to write letters to the press, why not find the time to find a way to make money to make ends meet? Also there are numerous cases of people who had to work and study at the same time. They are not smart or brillant but hardworking and they didnt whine about how they are unfairly treated.
    Pls spend time and read into the article before commenting.

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