Chitchat beware of bank hidden scam while doing fund transfer

frenchbriefs said:

Nothing wrong what, immediate doesn't mean immediate leh, immediate means they will execute your order immediately from the time u click confirm but the process will still take three to five working days for the money to reach the other account.unless ur friend choose the fast transfer method which is only available between SG banks.

It's like me trying to send money to my overseas visa credit card,they ask when is the date of execution,I choose immediate,they deduct the money and fees from my account,but it will still take three to five working days to land in my overseas account.

Hello banks around the world are not open 24/7 leh,u know how much it cost to pay bank workers boh.u think they suka suka transfer thousands of dollars without back checking and cross referencing and performing

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chootchiew said:

you mean internet banking fund transfer need staff to verify
i believe different banks may have different approach for transfers selection.
usually I transfer from A bank is automatic immediate out and received immediate
my friend used B bank he said have immediate then another level..of course first level is immediate else what ?
like I request immediate process for me and then wait for 3 days ?
As far as i know ib has no staff involve all automated

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frenchbriefs said:

Do u know how money works or not,they don't just magically send money thru the internet with bits and zero.the money doesn't move,it just changes from account to account.lets say u want to transfer 10k USD to Bank of America account.DBS will contact BOA and ask them do they have 10k USD to spare,customer XXX wants 10k USD in his US account.they say yes.then DBS say we will pay u the equivalent of 10k USD in SGD at this exchange rate,from our account to ur Singapore account.BOA says ok.No money moves across borders,it just moves from one account to another.

That's what they call shuffling money.

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chootchiew said:

I discovered something to share. This may not be something so noticeable or relevant if the amount transferred is small. But for amount above $10k or more it is something not to be missed.

When someone transferred 30k to me , he selected immediate but within the immediate there is another option to select fast transfer or not and they defaulted it to 1 to 3 working days. The person didn't specified is immediate and immediate, resulted in a bloody cheebye situation - the money is deducted from his account and the money need to wait 3 fucking work days to reach me. So where is the fucking money now ? The fucking bank holds it and earn your interest ? it only make sense for this option if the transferer still hold the money and say decide to cancel this transfer within the next 1 to 3 work days ? correct ?
That person call the fucking bank and bank say transaction done cannot change woh :oIo:

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AhNehs said:

you hoready said yourself that your pengyew COCKeye never click properly. make mistake blame others. sinkie at their best

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chootchiew said:

knn ah Meng didn't get my message and anyhow do illustrations .
i said if there is a option to wait 3 days, the money should be still in my friends account.

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AhNehs said:

FAST Payment
Make instantaneous SGD interbank funds transfer any time, any day
http://www.dbs.com.sg/corporate/cash/payments/domestic-funds-transfers/fast-payment

"Why Choose DBS FAST Payment?

Save time with instantaneous SGD interbank funds transfer. Your beneficiary will receive the funds within five minutes
Pay*any time, any day via IDEAL™ 3.0
Enjoy greater convenience with this simple and secure SGD funds transfer of up to SGD 50,000
Receive real-time email alerts on your payment status
Notify your beneficiary via email or SMS for successful transfers"


gongcheebai. u better retake your psle again

Ahmeng

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chootchiew said:

knn ah Meng again didn't read properly and anyhow do illustrations.
i said usually I do bank A transfer is immediate is dbs lo.
i will refer the skill future training to my gong cheebye friend
but the question still remain - why is the money not with him anymore and also not with me is not psle question hoh

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AhNehs said:

moi tink your gongcheebai pengyew pull a FAST one on you and you gongcheebai-ly belive his lungjiao story

Ah meng

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chootchiew said:

he showed me screenshot of course to verify and proof transfered done and correct account number
.
but I agree he is a gong cheebye that got conned by the bank and i became a innocent gong cheebye

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Ralders said:

Cheebye ranjiao meng.

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frenchbriefs said:

CPF have the highest interest of all because they forever don't have to return u.

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frenchbriefs said:

Normally those have no interest because u have access to the funds can use ur money instantly,I.e. liquidity, liquidity is bad for banks because they can't invest it,in order to earn returns u need the ability to put the money aside for long periods of time without touching it,money needs time to work.unfortunately they have to reserve the money for u for ur daily needs as working capital.

That's why checking account in banks have the lowest interest,cause u can withdraw ur money from that account every day,while savings accounts have higher interest and fixed deposits have higher interest while government bonds even higher interest depending on the duration while CPF have the highest interest of all because they forever don't have to return u.

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eatshitndie said:

store value and prepaid cards are the best for any business. based on analytics on use of cards, business can use cash that comes streaming in and take some risks with it in paying off debt, investing in something else with higher returns on a dynamic basis, or earn short term fixed interest on it with that pile of cash. for example, starbucks give away gold membership cards. members get rewards if they make purchases but the trick is members can softload their cards on their phones and pay for drinks and food with phones. it's convenient for customer but more convenient and rewarding for starbucks as members preload their softcards with $25 each time accounts are running low. based on analytics, average balance on cards is healthy above $6.9 as gold members tend to be more atas crowd with spending power. $6.9 everyday for 365 days a year for 69 million gold members provide a tremendous stream of free cash flow. and it's literally free for starbucks. same with bart on their clipper cards and smrt on their mrt passes.

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