Pls Double Check Yr POSBank/DBS Cheque Payment

[V3v3]

Hi Everyone,

 

I recently issued a POSBank cheque to pay for my Citibank credit bill of $92.27 but to my horror POSB debit $9227 from my account!!! I was so shocked and keep trying to remember did I wrote the wrong amount on the cheque???

 

Called up POSB to check and confirmed I issued the correct amount but they push the blame to Citibank saying Citibank key in the wrong amount into the system!! I was like what the fxxk do they mean its Citibank fault!! Questioned them how come they debit the money without checking on the cheque issued....giving me all sorts of excuse that this is how the current account system works and they will verify the correct amount before releasing the money to citibank and POSBANK will defintely spot the mistake and so on..

 

To me its all bxxxxxxt...how can they just debit the money from my account without verifying with the cheque I issued!!! Demanded they give me an official reply on how such mistake can happen and seriously thinking of filing a complain about this issue...Any suggestion on who or which department should I file a complain with for this matter???

 

Hope everyone out there keep track of the amount of money debit from your account for the cheque issued....Makes me wonder is it safe to issue cheque again.

[Spikedoll]

now we all know you have $9227 in bank..or more..hehe

[V3v3]

hahahha......come and get it if you can lor...

[Freestylers09]

Questioned them how come they debit the money without checking on the cheque issued

 

maybe a DOT can make a difference but in words..cant be reading wrong by them ba

 

I think this reason is good enough for u to file a complain...why dont u call Citibank 1st...check for ur cheque number?i think should not be difficult to do so...since u as the customer,u have the right to do so..since theres a 2 decimel place difference

[Sabian]

It is DBS fault. Does not matter what CB key in.

 

At ard 11am this morning, someone in DBS slipped up. When the chq is presented to DBS from CB, DBS staff will check and verify before authorizing payment.

 

But if you press the matter too hard, someone old aunty (most likely) will kenna.

[Requiemdk]

How come they don't credit 100 times my salary to my bank account "by mistake" one?

[Sony]

Now it's central clearing and thru imaging... so most likely the didn't capture the "."

 

So what do you want DBS/POSB to do?

 

Maybe you can talk to your branch manager and ask him/her to bring up the matter.. it's much better and next time you bank with them, they will treat you much better..

 

It's a good way of making friends, you know.

[Wrc206]

Can't remember which bank was it but once my buddy called and say 15k+ missing from his bank acct. The bank later apologised and say they made a wrong deduction or something . Will never forget the look on my buddy's face

[Slowmo]

That has never been a problem for me, because I will never have that much in my bank account

[Chimp]

Tell them you will send a complaint email to MAS if they cannot provide an official reply.

 

Email can be send to https://secure.mas.gov.sg/apps/wcmaweb/WebF.../WebCompForm.do

 

or you can write to:

 

Monetary Authority of Singapore

Consumer Issues Division

Market and Business Conduct Department

10 Shenton Way

MAS Building

Singapore 079117

Fax : (65) 6225-9766

[Teh6]

Thks bro, thks for ur kang tao ji, 9227, quick quick go buy 4D, before it sold out

[Windwaver]

How come they don't credit 100 times my salary to my bank account "by mistake" one?

 

[Alpha78]

Now it's central clearing and thru imaging... so most likely the didn't capture the "."

 

So what do you want DBS/POSB to do?

 

Maybe you can talk to your branch manager and ask him/her to bring up the matter.. it's much better and next time you bank with them, they will treat you much better..

 

It's a good way of making friends, you know.

 

Zhun bo? The imaging doesn't have lettering recognition? It's supposed to check that the words and figures match.

[Sony]

I don't work for bank, so I can't really answer your question precisely, thus I refer you to the manager.

 

But if you are asking about letter recognition, then it's likely that your . might be miss out.

[Alpha78]

I'm not the threadstarter, but the current automated system makes us wonder how secure everything is, especially when the works and figures tally except the . may be not too obvious.

 

Looks like next time we should revert to writing cents as fractions of 100, ie xx/100.

[Sony]

Hey, it's one incident we heard and there's no conclusion yet.

 

Unless you keep hearing from everyone about 10.00 become 1000, then you start to change the way we write our check. Let's not be like aunties in the wet market leh..

[Solar]

can share example?

say, $50.89, write as $50.89/100 ?

[Alpha78]

Nope. You write it as 50 89/100, where the line is horizontal, ie 89 over 100. For exact dollars you can write xx/xx, same horizontal line.

 

These days I'm lazier, just write in decimal, with /- for exact dollars, eg $100/-.

 

Btw, the correct way of writing words on the cheque is to put dollars and cents before the words, ending with the word "only", ie Dollars Fifty and Cents eighty nine only.

 

Writing cheques is a lost art.