I was charged with a $3 admin fee for doing an interbank fund transfer of $200, from MayBank to POSB Bank, over the Internet. Either I am blind or the warning print was too fine for me. From what I know, this per transaction charge is determined only by the receiving end, which is POSB Bank for my case.
Since when have POSB Bank implemented this? I do not remember being charged when I did similar transaction months ago.
POSB interest = 0.125%
Admin fee per my transaction = 1.5%
"Perfect"
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