Go bank to open savings account, end up with......

[Leongsam]

Nobody walks into a bank branch with the intention of buying an insurance policy with $9K in hand. These product collaterals are done to make it easy for their sales reps to misrepresent and miss-sell the product.

Any bank customer who wants to open a savings account should be offered alternative products with higher returns. If they aren't they cannot make an informed choice regarding the best option to achieve their savings goals.

They can easily decline if they feel that they want their savings to remain liquid.

Banks across the world cross sell. It's how they make money. It happens in all banks in NZ.

 

[Scrooball (clone)]

The fella who claimed to be 'conned' was actually not conned.

He was being greedy and wanted higher returns than what the fixed deposits or savings accounts can offer. With $9,000, what can he do?

The plan is actually good, as it helps him to maintain a consistent 'saving' habit. It seems more like an endowment plan.

 

[Huat-Ah]

I can vouch for the CPF scheme because I've actually used all the facilities that the scheme offers.... housing, investment, savings, medisave and withdrawal.

You are no longer in Singapore nor a Singaporean. So your vouch means NOTHING. Show us your Residence Address PROOF

 

[krafty]

the bank manager is unethical and greedy for business and the client is a nitwit in in investment, so naturally, he got conned. most working in banks are savvy and experienced, it is impossible that he does not know what the client need was just a normal savings account, so driven by greed, both individuals, the bank has the upper hand.

 

[Scrooball (clone)]

the bank manager is unethical and greedy for business and the client is a nitwit in in investment, so naturally, he got conned. most working in banks are savvy and experienced, it is impossible that he does not know what the client need was just a normal savings account, so driven by greed, both individuals, the bank has the upper hand.

You sure? If they are so good, they will run their own hedge fund.

 

[SAMMMYBOY]

It was my first bank. I still have those cute and small UOB bank books.

Me still have Chung Khiaw bank,
and OUB.

 

[borom]

Is it a coincidence that Temasek and GIC like to invest in banks?-birds of the same feather flock together?

This guy voluntarily invested his monies with UOB (as he signed the documents)-unlike most of us who involuntarily have our monies (CPF) "invested" with GIC/Temasek. I'm not sure Tharman has done a better job than the UOB chap as I'm confused by all his speeches which still don't address the issue of we want all our money back at 55.