I wanted to write this for a long time. So here are top 5 reasons why you should switch banks:
- UOB’s queues are always shorter than POSB/DBS’s. Why waste time queuing with 10 other people when you can choose not to queue at all? Same for over-the-counter services which are less crowded.
- Contrary to popular belief, UOB ATMs are not that hard to locate. They are at most places where POSB is, and also at every MRT station, otherwise pretty nearby. In fact I find that there are more UOB ATMs in my area as compared to POSB.
- In addition, you can draw money from OCBC ATMs (and vice versa) if you can’t find a UOB ATM.
- UOB’s NOW Visa Debit card has much more privileges than the POSB GO or orange debit card. Cathay movies at $6 and $8, many dining discounts and shopping disounts at many many places. (the only minus point is that NOW card now comes with an annual charge of $18 unless you use your card often enough).
- You don’t have to carry a extra dongle around for Internet banking. They will send the code to you by SMS. Not sure if POSB has this feature.
So why wait? Take some time to go over to the other side to set up an account, transfer all your money over, and start enjoying the convenience.
(No, UOB is not paying me for this post.)
However, I have a comment to make. I wanted to ask the bank to help me sign a form for student exchange programme application. The UOB person said they do not sign such documents, but instead I have to pay $20 for a certificate of statement. So I went over to POSB and tried my luck. The person asked if I needed the letter statement which also cost $20, but he was also willing to sign the form for me at no charge. Ah, that’s when it is good to have 2 bank accounts. Haha.