Monday, April 20, 2009

POSB Internet Banking New Integrated Trading Services Sucks

POSB recently integrated DBS Vickers into their internet banking. I can only say the integration is not very well thought of since new banking/trading account is actually used.

So, instead of holding only onto your POSB savings account and DBS Vickers trading account, you will now have a third account called DBS Vickers-Cash Upfront account. I admit I am at fault too for not reading fine prints and almost got myself into some inconveniences. I made payment to shares I bought through DBS Vickers trading account by doing a fund transfer to my newly created third account. The fund was transferred to my third account instead of DBS Vickers trading account.

I do not see an integration between POSB and DBS Vickers here. Trade done using DBS Vickers platform cannot be settled using the new trading service.

3 comments:

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  2. It's always a little weird to have multiple accounts to deal with things...I've never quite understood the implementation of unnecessary complexity. Hopefully everything will get streamlined.

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  3. A great post with out doubt. The information shared is of top quality which has to get appreciated at all levels. Well done keep up the good work.

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