POSB and Singapost remarry

DBS deal to bring banking back to Singapore post offices
Tuesday, November 15th, 2011

Singapore Post has formed a major partnership with the largest bank in south-east Asia, which will see basic banking services offered at all Singapore post offices from January.
The alliance with DBS Bank is the first ever tie-up between SingPost and a bank, and will see the bank’s retail outreach within the city-state expanding from 80 branches to 140….

If I can remember, POSB was part of Singpost which was then known as Singapore Post Office. And the Post Office Savings Bank was then providing some banking services to the people, for the convenience of the people before it was divorced and subsequently become the mistress of DBS. Now Singpost is getting engaged with POSB one more time to serve the customers better.

Will the $2 banking charges be discontinued with this second marriage?


Anonymous said...

Was it more rape and plunder than a marraige

Anonymous said...

All these GLC and govt -owned entities are just running out of ideas,and banks are squeezing their customers with all sort of fees Credit card holders are charged with 24percent interest per annum on unpaid balance,while they pay less than 1percent on fixed deposits.Are they any different from loan sharks,except they are legitimized by the Authority.

agongkia said...

Whatever the case,reserve the counter jobs for local aunties who speak local languages and dialects.
One fine day,I hope SingPost also accept bets on 4D and Chap Jee Kee.

Since its the people's national bank,there are chances that they will do away with the $2.

Keep it up.

Matilah_Singapura said...

Once it is listed on the stock exchange, it is no longer a "kacang puteh" entity which used to exist to sell their services artificially cheaply.

Remember, stock holder expect proper returns on their investment. Banks charge fees -- it is a huge part of their revenue stream.

Anonymous said...

Rape and plunder only happen when foreign enemy attacks. Local ones only sweet talk and seduce but are just as damaging.


Anonymous said...

This is called LPPL. You should know what I mean.

Anonymous said...

Wow! Now I can buy the latest financial derivatives products from my nearby post office.

Now can choose between queue at 4D and SingPost.

Have to see which queue is shorter.

Chua Chin Leng aka redbean said...

Serving the customers through the post office is a brilliant idea. Finally they discover such a gem.

Anonymous said...

It's pretty obvious you have not been to your post office lately.

Good luck queueing for your banking services

Anonymous said...

Redbean, or Mr Bean,

you must be kidding to think that they will do away with $2. You'll be glad if they didn't raise it to $4 with excuse like rising operational cost.

You see, our government clowns only recognise money and always find ways to dig money out of this gold-land. The gold refers to the public, just like squeezing milk from cows FOC.

Chua Chin Leng aka redbean said...

With the increase in population, the queue is expected lah. Only some jokers did not know that the population has gone up so much and forget to build more flats.

One thing I must take my hat off to the govt is their efficiency in collecting money to pay themselves in the millions till they die.