Cash still king if you are a travelling Sporean

[johnny333]

Read that Spore banks are going to impose "restrictions" on Credit Cards to protect Sporeans
It's already so difficult for those travelling to use their ATM cards overseas & now they are going to do the same with credit cards. What's worse is that the authorities are going to leave it to the banks to decide on how they implement the controls. I have more than 1 card & you can imagine how many banks I have to inform when I travel:(

For me I've learned to just load up with cash before travelling even for day visits to JB.


http://sg.news.yahoo.com/credit-car...ated-for-overseas-use-by-1-oct-003052771.html



Credit cards will have to be activated for overseas use by 1 Oct

Here’s one more thing you must remember to do before you travel: activate your credit card.

The Association of Banks (ABS) has said that all 10 card-issuing banks in Singapore will deactivate the magnetic strips on credit and debit cards by 1 October, The Straits Times reported Tuesday. At least one bank will deactivate the strips as early as 31 Aug.

All new cards will have their magnetic strips inactive by default.

ABS said that this is a new security measure to protect users’ details and to prevent cards from being cloned by skimming syndicates.

Activation methods will vary from bank to bank – these can include activation via SMS, ATM or on the phone. Depending on the card issuer, users may be allowed to activate their card for a period of time or they might have to deactivate the card after their travel period.

Local transactions will not be affected as they are processed using EMV chips, which are said to be more secure.

 

[Dark Knight]

This is really a stupid policy.

Does it mean each time we travel oversea, we need to call up the bank to activate all the cards?
Or we only need to do it once and for all?

What if we forgotten to activate it, proceed with a transaction half way and got rejected?
Can we immediately call up the bank from oversea to activate it?

 

[Unrepented]

Even if we activated the cards, screw up do happen. That's what happened to one of my cards. Activated it, received the sms confirmation, but still can't use the card overseas. Came back told the bank staff, their indication is that there has been more than one case, and was advised to call the bank's hotline at the overseas location to ask them to activate.

Once, I called the hotline early in the morning, was told the authorising officer was not in yet.:o

Gave the bank female manager one serious oral

They think the whole world on the same time zone:(

This is really a stupid policy.

Does it mean each time we travel oversea, we need to call up the bank to activate all the cards?
Or we only need to do it once and for all?

What if we forgotten to activate it, proceed with a transaction half way and got rejected?
Can we immediately call up the bank from oversea to activate it?

 

[I_Hate_Pappies]

You call this financial hub ah? Abit of standard also don't have. :oIo:

 

[Narong Wongwan]

Typical PAP way of dealing with problems.

 

[halsey02]

This is really a stupid policy.

Does it mean each time we travel oversea, we need to call up the bank to activate all the cards?
Or we only need to do it once and for all?

What if we forgotten to activate it, proceed with a transaction half way and got rejected?
Can we immediately call up the bank from oversea to activate it?

I was plucked once many years back, way before the stupid which bank was THIS, who got Cloned?? thing & they change the procedures!? I was checking into this 4 stars hotel in KL, some thing was wrong with the credit card...not able to transact..not that I have maxed the card. I have to call UOB card centre ...LONG DISTANCE...the number on the card..instead of directing me to a direct someone answering the call I have to wade through menus...which I have choose 1 for this 2 for that, choose 1 for...& finally put on hold, " your call is important to us.... blah blah blah"...& after 30 mins..cut!! wt...!!

Fortunately I am already well versed traveling in Malaysia so I told the front desk that I be back in a jiffy...I went next door to the hotel,used my Malaysian Bank ATM card withdrew the money needed to pay as deposit... & got myself checked it & paid for my hotel room with RM cash after I checked out. Came back to SINgapore...went card centre & told them off...fast forward 2013...I am sure the same bloody number is still cycling you through hoops...& the rest of the banks here no diff..

CASH is still king... card is to make reservation only if the hotel insist...to hold the room...

I do not know why we have allowed ourselves to be inconvenient with our "mummy & daddy" banking system, who do not want to deposit money in their account, but does not allow you to spend money from your account, when you are overseas!!

Not like before...I could withdraw cash in Baht at an ATM machine on Patong Beach Thailand or in Bangkok, or any rest point with ATM along the NS highway or any towns or cities in Malaysia..

Now I have to inform my "mummy" bank I am visiting____ before I leave THREE DAYS...PLEASE NOTE, in order that you can activate your card...YOU HAVE HOLIDAYS IN BETWEEN , gourd help you!!.

Bring cash, forget about using SINGapore credit/debut cards..like me, have an account in Malaysia, keep it in funds..for emergency use & safe FX & other fees...

 

[Narong Wongwan]

Debit cards affected?
Like this the banks have to set up another call center just to deal with customers call in.
Go overseas must inform SAF, now also need to inform the banks.
Financial hub indeed....fucking joke.

 

[Equalisation]

This is really a stupid policy.

Does it mean each time we travel oversea, we need to call up the bank to activate all the cards?
Or we only need to do it once and for all?

What if we forgotten to activate it, proceed with a transaction half way and got rejected?
Can we immediately call up the bank from oversea to activate it?

No.

I was in Rome a fortnight ago. Went to a posh restorante. Ordered an expensive meal. Pay by credit card but kena stuck. No cash either. Spent the next 48 hours washing dishes !

 

[Froggy]

I use Thai issued credit cards most of the time as I live overseas however there are times I use Singapore issued credit cards when out of Thailand and Singapore as I find the exchange rates of these Singapore issued cards are more favorable. So far I've never called and activated my Singapore issued credit cards and there's no problem.

 

[I_Hate_Pappies]

No.

I was in Rome a fortnight ago. Went to a posh restorante. Ordered an expensive meal. Pay by credit card but kena stuck. No cash either. Spent the next 48 hours washing dishes !

Did you try CPF Hotline?

 

[ilovesingapore]

I think this is a brilliant idea - a world class financial hub measure!

My friend used his card in Bangkok. Immediately after a short while, he was informed by SMS that his card was compromised and that the Bank had deactivated his card. He was advised to discard his card and a new card will be issued to him as soon as possible.

This is a good world class measure. Well done Singapore! Majulah Singapura!!!

 

[Narong Wongwan]

I think this is a brilliant idea - a world class financial hub measure!

My friend used his card in Bangkok. Immediately after a short while, he was informed by SMS that his card was compromised and that the Bank had deactivated his card. He was advised to discard his card and a new card will be issued to him as soon as possible.

This is a good world class measure. Well done Singapore! Majulah Singapura!!!

Wah immediately ah?!?! credit card fraudsters must be working at breakneck speed?
How to get the replacement card ASAP? Machiam Amex commercial courier deliver to doorstep is it?

 

[ilovesingapore]

Wah immediately ah?!?! credit card fraudsters must be working at breakneck speed?
How to get the replacement card ASAP? Machiam Amex commercial courier deliver to doorstep is it?

that's why we are world class... immediate warning.immediate deactivation.immediate replacement. we are world class.
majulah singapura!!

 

[johnny333]

I use Thai issued credit cards most of the time as I live overseas however there are times I use Singapore issued credit cards when out of Thailand and Singapore as I find the exchange rates of these Singapore issued cards are more favorable. So far I've never called and activated my Singapore issued credit cards and there's no problem.

The problem is that different banks have different policies e.g. depending on "where" you are travelling to. Some cards need only be activated if you are travelling to the US, etc. ... & not for countries like Thailand. From Oct 1, ALL banks will required permission before a card can be used outside of Spore.

However consumers will still face the banks bureaucracy to turn on their cards. As some have found out that some banks will drop the ball & fail to activate their CC.
I bought myself a Pac Safe money belt for under SIN$30 from a sports store in Novena. Plenty of room to store $100 bills.

 

[tonychat]

No.

I was in Rome a fortnight ago. Went to a posh restorante. Ordered an expensive meal. Pay by credit card but kena stuck. No cash either. Spent the next 48 hours washing dishes !

you just call CPF to transfer the funds to you and pay for your restaurant bill lah.

 

[singveld]

pick pocket dream, they would love to target sinkie with lots of cash.

 

[laksaboy]

Credit cards are not too good for overseas purchases if you do not wish to leave a trail.

 

[halsey02]

Credit cards are not too good for overseas purchases if you do not wish to leave a trail.

Especially you wife is shopping & you know where you went & used that CC.How about those corporate cards?? The secretary must be darn F#$@$$k busy, having to call the banks & activate a team who maybe traveling...

Who's shit idea is this?? why are we so F$%#k kiasu....

 

[bushtucker]

why call? just use internet banking one day before your trip to activate the credit card for overseas use. same thing for atm cards.

 

[looneytan]

you just call CPF to transfer the funds to you and pay for your restaurant bill lah.

Diam lah lu, adults talk just fuck off