[MinMin]

Honest mistake: Bank should not penalise customer

MY WIFE made a genuine banking mistake and as a result, her bank, POSB, has pocketed a so-called administration fee of $40 from her savings account. We feel the charge is too high and not justified or reasonable.

Last Tuesday, I accompanied my wife to Hong Leong Finance in Jurong West to open a fixed deposit account. She wrote a POSB cheque for a certain amount and intended to keep the deposit for two years at 1.18 per cent under current market conditions. Unfortunately, she forgot she would have to transfer a sum of money from her DBS savings account to her POSB saving account, which is linked to her current account. She has two separate accounts with both banks which were opened before POSB was absorbed by DBS.

As a result, the cheque did not clear and POSB has deducted $40 from her savings account. She was surprised POSB did not even contact her to clarify the situation.

On Thursday, she made a fund transfer from her DBS savings account to her POSB savings account and re-submitted a cheque to Hong Leong Finance on Saturday.

She would like to appeal to POSB to waive the administration fee, given that she already pays a monthly fee of $2 for her current account.

Humans make mistakes, no matter how careful they are and banks should understand this.

Goh Kian Huat



http://www.straitstimes.com/ST+Forum...ry_319726.html

[fleek]

Writing an bounced cheque? And you say it is a genuine mistake? Normally that's considered a fraud case.

[ktk]

change bank.

garmen oso keng pple, might as well go private bank.

[ORiN]

The $2 is deducted if they don't have $500 in the bank account. I think they can only LL suck thumb.

[moneygod]

Going to organize another outing at Hong Lim park?

[bozo]

how is what happened not their fault? lol.

[kyouta]

wtf .... kan bo liao ....