POSB ATM machines keep failing?

Is it me only or POSB cash deposits and ATM machines keep failing? For the low interests that all the banks are giving for our bank deposits, I do really expect higher standards from them.

4 Tips for Better & Safer Online Banking

1) Always clear your cookies and cache before and after a bank transaction

2) Use a good anti virus software. It can be free like AVG or Avast. Alternatively get a paid one if you want the best and support for your software.

3) Use proper passwords. Don't use passwords that can be easily guessed such as 1234, abcd, qwerty, or your personal particulars that can be obtained easily by scammers and hackers.

4) Avoid doing your online banking in Internet cafes or public computers because you won't know are the PCs safe. Don't take unnecessary risks.

Singaporeans affected by frauds transactions on iPhone & iPad

Some Apple customers have reported on illegal transactions. The average among is around $30-$40. All the banks involved are investigating and exploring ways to tackle the problem.

Hopefully Apple implements the 3-Domain (3D) Secure protocols by Visa, MasterCard and Amex which sends out a OTP (One-time password) via SMS whenever the customer wants to make a purchase or transactions. This added layer of security will serve to prevent frauds from happening and at the same time notify the customer that someone may be using his/her credit card illegally.

Till the day Apple/iTunes adopts the technology, we will have to be more careful and remember to check your bank accounts for unauthorized transactions.

SMS Bank Alerts for ATM & Overseas Withdrawal

Finally the banks will be having SMS alerts for withdrawals. Most of the major banks will implement this strategy by 30 June, 2012. So the next time you receive a SMS withdrawal when you didn't do it, then you know you are a victim of card skimming (hopefully not).

Arrests made for DBS card skimming & Security Improved

The police had already caught the syndicate responsible for the card skimming in a matter of days. The ATM card skimming scheme had affected about 700 of DBS customers involving $1million stolen.

Below are the new security measures implemented:

1) customers who have not used their credit and/or debit cards outside singapore since Jul 1st last year will no longer be able to do cash withdrawals overseas until they enable the function.

2) those who want to activate the function will also receive a SMS alert notification confirming their request. This feature alone is very helpful IMHO.

Singapore banks shares lower compared to 2011 peak

Singapore banks like DBS, OCBC and UOB are share prices are lower from their 2011 peak. But still it may not be a good time to pick these shares up since analyst report that the poor economic outlook will have impact on the bank growth, as reported on ST today, money section.

Citibank iPhone App - Searching for ATMs

Citibank iPhone app is pretty cool :) locations of branches are shown easily

In fact most of the Singapore banking apps have branches, ATM, and cash deposit machines listed on the map. So even if you do not like online or phone banking, you can still download the app just to find your nearest ATM. Useful stuff!

Din Tai Fung abalone Yu Sheng

DBS and POSB card members will get an exclusive 15% off for a deluxe (8-10 pax) prosperity abalone Yu Sheng. The normal per pax is $68.80.

There pineapple cakes are good too , I love it.... Go and check it out :)

DBS customers have their cash withdrawn fraudulently

Remember to check your bank accounts to see are you affected by the fraud.

And this is also a heads up for customers and banks to step up their security measures whenever applicable. Although this could be a rare incident, do practice more discretion especially if you do lots of online banking, because nowadays there's a lot of syndicates out hunting for your money.