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Banks to charge S$0.75 to S$3 for use of Singdollar cheques from Nov 1
The new fee ranges from S$0.75 to S$3 for each Singapore dollar-denominated cheque. These banks are DBS, UOB, OCBC, Citibank, HSBC, Maybank and Standard Chartered. But the banks will be waiving these charges for individual customers aged 60 and above until Dec 31, 2025.
Commentary: Singapore banks’ latest anti-scam measures may be inconvenient, but would you rather lose your life savings? From November, DBS, OCBC and UOB will roll out a “money lock’ feature that will allow customers to ringfence a certain amount of their savings. The three local banks as well as US lender Citi have also announced new anti-scam security measures.
Singapore banks to allow customers to 'lock up' funds in latest move to guard against scams DBS, OCBC and UOB told CNA that they will be rolling out their own versions of a ‘money lock’ by next month. Such a feature will allow banking customers to set aside a certain amount in their accounts that “cannot be digitally transferred out without strict authentication measures”
DBS, UOB become latest banks to restrict app access if sideloaded apps detected on customers’ phones Local banks DBS and UOB are rolling out new anti-scam security measures. They are the latest banks in Singapore to do so – after OCBC and Citibank.
Man who jumped off balcony during raid over billion-dollar money laundering case gets new charge Su Haijin, 40, was charged with one count of possessing money from criminal offences. He had S$4.06 million in a UOB account, which represents his benefits from unlawful remote gambling offences. Wang Dehai's lawyer asked for an adjournment to take instructions from her client.
Commentary: When parenting goals shift from lullabies to Taylor Swift concert tickets The UOB cardholder presales for Taylor Swift shows in March 2024 opened. YL Chan, who managed to get tickets for her 13-year-old daughter, said she had a talk with her girl about sacrifices.
Banks in Singapore to start charging customers by November for issuing Singdollar cheques Banks in Singapore will start charging customers for issuing Singapore dollar cheques. At least seven banks – DBS, UOB, OCBC, Citibank, HSBC, Maybank and Standard Chartered – will start imposing fees on cheque issuers by Nov 1. Other banks will do so by July next year. Cheque usage in Singapore has been falling steadily, while there has been growing adoption of e-payments.
Singapore's UOB bank Q2 net profit rises 27% on-year, in line with forecast United Overseas Bank (UOB) reported on Thursday a 27 per cent increase in net profit in the second quarter from a year earlier. UOB, Southeast Asia's third-largest bank by assets, said April to June net profit rose to S$1.42 billion. This compares with the mean estimate of S $1.43 billion from three analysts polled by Refinitiv.
Singapore's UOB expects 'some upside' to interest income after Fed rate hike Singapore's United Overseas Bank is expecting "some upside" in interest income in the next quarter. The U.S. Federal Reserve announced a fresh rate hike overnight. UOB's core net profit jumped 35% to 1.5 billion Singapore dollars ($1.13 billion) in the second quarter from a year ago.
Concert tickets, vacuum cleaners and more: Will credit card sign-up incentives help banks retain customers? UOB announced it would be the official bank partner for Taylor Swift’s Singapore stop on her tour. UOB saw a 45 per cent increase in credit card applications across Southeast Asia.
Commentary: There are ways not to let buying concert tickets turn into a scalping nightmare UOB cardholder presales for Taylor Swift shows in March 2024 started at 12pm on Wednesday. Queue numbers reportedly reached a million within 10 minutes of opening. Some were put up for resale at around 10 times their original price.
Commentary: Whether Taylor Swift or Coldplay, buying concert tickets doesn’t have to be a nightmare UOB cardholder presales for Taylor Swift shows in March 2024 started at 12pm on Wednesday. Queue numbers reportedly reached a million within 10 minutes of opening. Some were put up for resale at around 10 times their original price.
Singapore Banks Are So Flush With Deposits That DBS Is Loaning MAS S$30 Billion DBS Group Holdings Ltd. Chief Executive Officer Piyush Gupta said bank had lent MAS S$30 billion. OCBC and UOB could be more vulnerable, she said.
Billionaire Wee Cho Yaw’s UOB To Tap Southeast Asia’s Growth With Expanded Regional Franchise United Overseas Bank completed the acquisition of Citigroup’s consumer banking operations in Malaysia, Thailand and Vietnam. The acquisition is the biggest bet made by UOB in more than a decade, and is considered by some analysts as a game-changer for the lender.
Tech's been hit by layoffs. But Singapore is still investing big in its talent — in tech and beyond Singapore banks OCBC, DBS and UOB have developed programs that train technology staff and prepare students to enter the tech industry. Nearly seven in 10 of all vacancies in information and communications were new positions in 2022.
Singapore lender UOB's Q1 core profit leaps 74% to record US$1.2 billion Singapore's United Overseas Bank (UOB) reported on Thursday a 74 per cent surge in core profit in the first quarter from a year earlier. The lender's core profit, which excludes one-off expenses, rose to a record S$1.58 billion. Last year, UOB acquired Citigroup's consumer business in four Southeast Asian markets for about S$5 billion.
Billionaire Wee Cho Yaw’s UOB Invests $375 Million In Regional Banking Tech Hub In Singapore The 300,000-square feet facility will be located within the Punggol Digital District. It will house about 3,000 employees in technology, innovation and digital roles. UOB has been stepping up investments in digital technologies.
Make parental care leave mandatory like childcare leave, caregivers and advocates say Just 13.2 per cent of private firms offer their staff leave to take care of their parents. UOB, Great Eastern, Far East Organization and Focus on the Family offered employees between two and three days of family care leave.
How Singapore’s crypto ambitions are taking shape and what other nations can learn Singapore’s intention to become a global crypto hub will see greater realization this year. Project Orchid, a government-industry initiative aimed to develop the infrastructure and technical competencies necessary to issue a digital Singapore dollar. Wealth management products are also being developed by HSBC, Marketnode, and UOB in partnership with MAS.
UOB completes deal for Citi's Vietnam consumer banking business Citigroup said on Wednesday that it had completed the sale of its Vietnam retail banking and consumer credit card businesses to Singapore's United Overseas Bank. UOB's purchase of Citigroup's consumer businesses in the four Southeast Asian markets for about S$5 billion ($3.71 billion) marks its biggest acquisition in two decades.
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