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- Jul 15, 2008
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3 yrs ago, one lau auntie went to maybank to open a fixed deposit account like she always do when she saved 10k. one of the bank staff recommended her to put into one that could accrue higher interests. she didn't explain that that was a investment fund saving, i.e, there was a risk involved. blur autie thought it was a bargain too good to resist.
fast forward. now her deposit had matured. she was so anticipating that she would get at least a thousand dollars cos her FD aacount was for a 3 yr maturity.
to her surprise, she got nothing! the staff explained to her that maybank didn't make any money and hence she was still lucky to only get back her full sum of principal.
now isn't that a CON JOB by maybank?
lau auntie consulted me how to claim for the interests. she was closed to tear. well, i could only give her goh meng seng's contact number and asked her to go to him.
goh meng seng was the undisputed expert in lehman's minibond and perhaps he could assist the poor lau auntie.
so guys, if ur parents are putting money as FIXED DEPOSIT, do not be conned by the bank staff who would divert your saving into an investment funds deposit instead tempting you with high returns.
i wonder how in the first place, sgp gov could have allowed this kind of daylight robbery to blossom. financial hub here? look more like a CON HUB.
i doubt lau auntie could get any interests. she was lucky to have gotten back at least her deposit. even if she complains to MAS, they would side maybank instead of executing justice. ( how many lehman''s minibombed victims managed to recover their money?)
by the way, the maybank manager was even audacious to try to con her one more round by telling her to put her money in a fresh investment funds deposit promising her minimum !% returns per year. to this, lau auntie told him bluntly:
"even your maybank promises me 10%, i would never trust your conman bank any more....and i would tell äll my friends that MAYBANK IS A BLOODY TRICKSTER!!'"
just how many senior citizens were conned by unscrupulous banks and were totally helpless to make a decent claim, nobody knows. so do share ur story if u ve the same predicament faced by your elders.
fast forward. now her deposit had matured. she was so anticipating that she would get at least a thousand dollars cos her FD aacount was for a 3 yr maturity.
to her surprise, she got nothing! the staff explained to her that maybank didn't make any money and hence she was still lucky to only get back her full sum of principal.
now isn't that a CON JOB by maybank?
lau auntie consulted me how to claim for the interests. she was closed to tear. well, i could only give her goh meng seng's contact number and asked her to go to him.
goh meng seng was the undisputed expert in lehman's minibond and perhaps he could assist the poor lau auntie.
so guys, if ur parents are putting money as FIXED DEPOSIT, do not be conned by the bank staff who would divert your saving into an investment funds deposit instead tempting you with high returns.
i wonder how in the first place, sgp gov could have allowed this kind of daylight robbery to blossom. financial hub here? look more like a CON HUB.
i doubt lau auntie could get any interests. she was lucky to have gotten back at least her deposit. even if she complains to MAS, they would side maybank instead of executing justice. ( how many lehman''s minibombed victims managed to recover their money?)
by the way, the maybank manager was even audacious to try to con her one more round by telling her to put her money in a fresh investment funds deposit promising her minimum !% returns per year. to this, lau auntie told him bluntly:
"even your maybank promises me 10%, i would never trust your conman bank any more....and i would tell äll my friends that MAYBANK IS A BLOODY TRICKSTER!!'"
just how many senior citizens were conned by unscrupulous banks and were totally helpless to make a decent claim, nobody knows. so do share ur story if u ve the same predicament faced by your elders.
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