Singaporeans can soon view their bank accounts and investments on a single platform

[Volvobrick]

11 minutes ago, Turboflat4 said:

I have a NETS cashcard that expired 30 Nov 2020.

On 27 Nov, I tried at 2 different DBS/POSB ATMs, geographically very distant locations, different designs also (the card entry slot looked different). Didn't work, error msg said transaction failed, card expired. Card still worked in my IUs (all my cars) at that point. 

So even pre expiry got an issue with DBS/POSB ATM. 🙄

Can't try OCBC yet as I don't have a card, but just applied. See how. Edmw/hwz seems to think that will work better. 

I am down to my last NETs card. The rest misplaced/expired. Have switched to Flash cards that can be used for MRT too. So far works just as well. Not sure if it would expire eventually.

 

[Kangadrool]

1 minute ago, Volvobrick said:

I am down to my last NETs card. The rest misplaced/expired. Have switched to Flash cards that can be used for MRT too. So far works just as well. Not sure if it would expire eventually.

 

Consperm cum chopped will expire. Otherwise, how to make $5 from each card sale?

[1fast1]

15 minutes ago, Lala81 said:

wah applied an OCBC atm card just to solve cashcard issue. 

Free what. I already had an account online lol. 😂

[1fast1]

16 minutes ago, Volvobrick said:

I am down to my last NETs card. The rest misplaced/expired. Have switched to Flash cards that can be used for MRT too. So far works just as well. Not sure if it would expire eventually.

 

Flashpay doesn't work at a lot of carparks. That's the only reason I keep NETS cash cards on hand. 

For ERP I've got that auto debit thing with GIRO, had it for a long time. Don't even put in a card into my IU. 

[Mkl22]

5 hours ago, Turboflat4 said:

Wayang rubbish. 

Anyone who's ever had to refund a stupid expired NETS cashcard (with chip) will know the ridiculousness. Can go DBS/POSB ATM but it often doesn't work. Works better at OCBC ATM but if you don't have an account there, LPPL. But can still go physical branches of OCBC and UOB bank to fill out bloody forms, but somehow, DBS/POSB got missed out for that service! Ironically, they'll be able to refund you to your DBS/POSB account via an OCBC branch, but you simply cannot get the form or submit it from DBS/POSB!!! Last resort must go back to the Tiong Bahru NETS service centre. 

All stupid LJ nonsense. They can't even secure our healthcare architecture from hacks nor get the "no call list" working after so much wu leng wu hor talk about PDPA and they want to integrate our banking. 

aiyah... it was someone's smart ass idea to get KPI points for promotion...

so project launched... and now waiting for promotion or maybe even promoted already. its a tough world for the scholars you know, trying to come up with LJ ideas to have that one up from the rest.

[Mkl22]

22 minutes ago, Lala81 said:

wah applied an OCBC atm card just to solve cashcard issue. 

die die also don't wanna let the banks makan the cashcard value! 😁

[1fast1]

7 minutes ago, Mkl22 said:

die die also don't wanna let the banks makan the cashcard value! 😁

You know me so well. 😂

Last time when I used to use paper parking coupons, I would walk up and down carpark to donate my  barely used 50c or 1 dollar coupons to newcomers. Just so cheng hu wouldn't earn that 50c to $1 extra. 😂😂😂

Edited December 2, 2020 by Turboflat4

[Jellandross]

No free lunch in this world.

"...providing third-party financial service providers with access to consumer banking, transaction, and other financial data from banks and non-bank financial institutions."

[Yewheng]

14 hours ago, Turboflat4 said:

Wayang rubbish. 

Anyone who's ever had to refund a stupid expired NETS cashcard (with chip) will know the ridiculousness. Can go DBS/POSB ATM but it often doesn't work. Works better at OCBC ATM but if you don't have an account there, LPPL. But can still go physical branches of OCBC and UOB bank to fill out bloody forms, but somehow, DBS/POSB got missed out for that service! Ironically, they'll be able to refund you to your DBS/POSB account via an OCBC branch, but you simply cannot get the form or submit it from DBS/POSB!!! Last resort must go back to the Tiong Bahru NETS service centre. 

All stupid LJ nonsense. They can't even secure our healthcare architecture from hacks nor get the "no call list" working after so much wu leng wu hor talk about PDPA and they want to integrate our banking. 

How many wasted hours you had spent just for this refund? This is definitely way too unproductive. Should had feedback to these banks. 

[ToyotaShuttle]

1 hour ago, Yewheng said:

How many wasted hours you had spent just for this refund? This is definitely way too unproductive. Should had feedback to these banks. 

Then how many hours will he waste giving feedback to the banks?

[mersaylee]

16 hours ago, Mkl22 said:

aiyah... it was someone's smart ass idea to get KPI points for promotion...

so project launched... and now waiting for promotion or maybe even promoted already. its a tough world for the scholars you know, trying to come up with LJ ideas to have that one up from the rest.

The one who approved the LS ideas should get a demotion...😁

[Sdf4786k]

On 12/2/2020 at 8:27 AM, kobayashiGT said:

Singaporeans can soon view their bank accounts and investments on a single platform

source: https://www.straitstimes.com/business/singaporeans-can-soon-view-their-bank-accounts-and-investments-on-a-single-platform

SINGAPORE - Singaporeans with more than one bank account will soon be able to view all their funds and investments in one place online, instead of having to visit each bank or its website.

They can consent to share their consolidated personal financial data across seven banks - Citibank, POSB and DBS Bank, HSBC, Maybank, OCBC, Standard Chartered, and UOB - and three government agencies: the Central Provident Fund Board, Housing Board, and Inland Revenue Authority of Singapore.

The Straits Times understands that the Singapore Financial Data Exchange (SGFinDex), an online platform which takes a leaf from "open banking" in Europe, is to be announced soon.

It comes with a recognition that Singapore consumers need an aggregated and seamless view of their overall assets and liabilities during their sunset years, which will help them make informed decisions on financial and retirement planning.

Singaporeans now have the world's longest life expectancy at 84.8 years.

Open banking is the practice of providing third-party financial service providers with access to consumer banking, transaction, and other financial data from banks and non-bank financial institutions.

This is done using application programming interfaces (APIs), or codes that enable computer applications to speak to one another. Third parties will be able to integrate their services with those of a bank to create a better consumer experience.

Monetary Authority of Singapore managing director Ravi Menon had alluded to such a platform last year.

In an interview with The Business Times, he spoke of "deep-seated convictions" that customers will benefit from better service, and that banks will emerge stronger from the competition.

The latest move is the third pillar of Singapore's recent efforts to liberalise its financial sector on the digital front. The other two pillars are the issuing of digital bank licences, and giving fintechs access to the real-time payments system.

It also comes on the back of MAS' announcement on Monday (Nov 30) that consumers will be able to transfer funds via Fast or PayNow from mobile banking apps or Internet banking platforms to top up their mobile wallets, instead of having to key in credit or debit card details.

 

means if one cyber compromise, all compromise ?

Theres a reason why online shopping is done on a separate device and separate card.

 

[kobayashiGT]

11 minutes ago, Sdf4786k said:

means if one cyber compromise, all compromise ?

Theres a reason why online shopping is done on a separate device and separate card.

 

Actually I am a very messy person, So I like the idea one one-stop I can see all my finance situation. I remb I have iOCBC trading. But I dunno what stock I have bought from there liao also. hahaha.

 

Good to have a master view of your finance.

 

But there again, there will always be compromises. Hackers still will be out there. I guess the best place for money is still my grandma biscuit tin. 😂

[Atrecord]

20 hours ago, Turboflat4 said:

I have a NETS cashcard that expired 30 Nov 2020.

On 27 Nov, I tried at 2 different DBS/POSB ATMs, geographically very distant locations, different designs also (the card entry slot looked different). Didn't work, error msg said transaction failed, card expired. Card still worked in my IUs (all my cars) at that point. 

So even pre expiry got an issue with DBS/POSB ATM. 🙄

Can't try OCBC yet as I don't have a card, but just applied. See how. Edmw/hwz seems to think that will work better. 

over the years/decades, i've had a number of occasions when i had some error message shown on-screen when attempting to top my my cash cards at POSB/DBS ATMs, then i'll either try at other machines, or go to those dedicated cash card top-up terminals at the carparks instead. 

I had put those down to anomalies, but you like that said... dunno whether was it really POSB/DBS dun like NETS 🤣

[Mustank]

Knn go get good jobs for Singaporeans lah

do all these wu Ah boh eh for what

[inlinesix]

24 minutes ago, Mustank said:

Knn go get good jobs for Singaporeans lah

do all these wu Ah boh eh for what

This is likely part of whatever fintech initiative of MAS.

How to give good job when we don’t produce any tangible products 

[Sdf4786k]

10 hours ago, kobayashiGT said:

Actually I am a very messy person, So I like the idea one one-stop I can see all my finance situation. I remb I have iOCBC trading. But I dunno what stock I have bought from there liao also. hahaha.

 

Good to have a master view of your finance.

 

But there again, there will always be compromises. Hackers still will be out there. I guess the best place for money is still my grandma biscuit tin. 😂

You get a quarter statement from your stock acct. 

it’s only good if it has zero trust in the setup n the CDN has been beef up.

at this point in tome after the Heath care breech, no one knows what has been implemented to improve the security level.

of course the reverse is also true. The less the state sponsor state know of the cyber measure , the more difficult it is to breech the system 

[inlinesix]

On 12/2/2020 at 1:59 PM, Turboflat4 said:

Flashpay doesn't work at a lot of carparks. That's the only reason I keep NETS cash cards on hand. 

For ERP I've got that auto debit thing with GIRO, had it for a long time. Don't even put in a card into my IU. 

Today, I found cashcard in Raffles Place 7-11.

Thanks to the discussion on cashcard, I just noticed that my only cashcard is expiring (31/12).