DBS acquired POSB yonks ago. As far as retail banking goes, you can conduct any transaction for accounts with either bank at branches & ATMs of either bank. POSB account holders use DBS' internet banking website. Most people have a POSB account because they had lots of heartland branches and ATMs during the Post Office Bank era. I use POSB for my salary because the ATMs are everywhere. What I don't use I bank into CIMB as their savings account interest ratw is the highest.

thanks seantang. i guess i will use POSB too.

Correct me if I am wrong. Long ago,Most people save their money in POSB, they don't do risky investment and the saving is back by gov. Then gov want to tap the people's golden eggs for more risky investment. So DBS take over POSB and the gov only cover 20k for your account. When bank make money. They take fat bonus, when they really mess up and screw you, gov give you 20k that's it.

err...im not very sure bout that bro since this is my second week in Sg....

It was 1998.

No such things as $2/month fine for less than $500 saving back then. POSB was a low cost public bank to serve average people. DBS was more for business.

Now they are the same. You can use your ATM card on all their ATM machine.

in another word...both also having the same benefit?

Both bank offer a few cards. Check their web for benefit. What I refer to is the ATM card. That's POSB ATM card can draw money from DBS machine etc.

Some history: http://xinkaishi.typepad.com/a_new_start/2...09/st-posb.html

Iirc, POSB had more money than DBS when they merge.

This post has been edited by r1v3r: Jul 17 2011, 09:13 PM

is it wise to convert straight ur singapore money into malaysian bank example cimb/maybank due to higher interest?

icic...thanks for the info bro...

just want to know who are the people that went but didnt call me
banglas can do that leh...
that guy is super head hunter lor... better give him ur cv
not worth it, once get caught, reputation will be all gone and MOM will bar from working in sg
UOB u have to spend a certain minimum amount or they will charge u SGD18
higher interest rate, but shrinking ex-rate... worth it? also because inflation and country risk is higher.... if u wanna go for interest might as well change to rupiah, not only is the interest very high the currency is going up too

This post has been edited by alaskanbunny: Jul 17 2011, 11:29 PM

Check for previous post by seantang and other experience people. I usually carry cash to bank. I change at 2.46 today.

This post has been edited by r1v3r: Jul 17 2011, 10:20 PM

How do you spend a minimum amount using an ATM card? Or do you mean withdraw a minimum amount of cash from the ATM?

I'm not head hunter, just trying to be keen to help. (PS: I got my IT job offered in Singapore)

Hi all, I want to help my friend who's looking for a place in Tiong Bahru/Redhill/Queenstown or a place near the green line. She's going to work in Redhill. Her budget is $500 with PUB. If anyone has friends looking for housemates or know anyone looking for tenants, can you tell me about it? Appreciate it very much, thank you



This post has been edited by morgana_jara: Jul 17 2011, 10:42 PM

seantang,
i believe alaskabunny confused UOB debit card(white colour) with ATM card (grey colour), primarily because one can use debit card as ATM card to withdraw money from ATM machine and no charge whatsoever involves.

UOB debit card requires a certain amount of spending to waive off that 18SGD fees. ATM card is free

do you guys always change money back to rinngit? Is it possible rate can reach 2.50?

??? Why not. It happen before. I am hoping for 3.0

since the ringgit is droping compare to sgd, wont it risky if the rm drop alot? you guys not saving it in sg bank and change it at one shot?

hayor.. play along mer, now bocor liao
picta? tiong bahru gonna cost lor
hahaha, didnt read properly, u can even link ur cc to ur bank acc although it is not advisable
nope... only during emergencies... yes, expected end of the year
msia is commodity export based... oil n gas + palm oil... the usd drop commodity goes up... so to support the export.. rm drops... as for sg, they are more towards services and finished product so increase in sgd rate will only affect operating cost?

dont plan to return to msia... so wont change unless my funds to my mum runs out, then gotta top up lor

Iirc it touch 2.70 once during my working years but I know nuts about money market. So I will change some at 2.4 , some at 2.5 then much more if > 2.7. If ringgit drop a lot then it is a good time to use SGD to clear my loan in Malaysia.