Banks say they will discipline staff who mis-sell to customers

  • 📰 The Straits Times
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

Singapore Headlines News

Singapore Latest News,Singapore Headlines

DBS, OCBC and UOB say any acts of mis-selling of unsuitable products to customers will not be tolerated

DBS, OCBC and UOB are unison in their positions that any acts of mis-selling unsuitable products to customers will not be tolerated.

If a bank employee tries to sell you an investment product without first checking on your needs, risk appetite and financial state, just say no. Employees who push financial products without knowing a person’s background are breaking banking rules, and this could result in customers putting money in unsuitable investments that could cause them more harm than good.Easy access any time via ST app on 1 mobile deviceResend verification e-mail

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in SG

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

OCBC to give one-off payout of S$1,000 to junior employees in SingaporeOCBC announces a one-time support payout of S$1,000 to 4,600 junior employees in Singapore to help them cope with rising cost-of-living concerns.
Source: TODAYonline - 🏆 1. / 99 Read more »

Chinese banks' dollar purchases via swaps from clients hit record high in JanSHANGHAI/SINGAPORE : Chinese banks purchased the most dollars from their clients via FX swaps in January, official data from the FX regulator showed on Monday, suggesting exporters preferred to only temporarily acquire the local currency while holding on to dollars.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

More than S$5.4 billion set aside in 61,000 ‘money lock’ bank accountsThe Monetary Authority of Singapore will work with the banks to continue encouraging adoption of the new “money lock” feature, says Minister of State for Trade and Industry Alvin Tan.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Jail for man who threatened to share intimate photo of ex-lover, used PayLah! to message herSINGAPORE — After learning that his ex-girlfriend had blocked him on social media platforms and was in contact with one of his friends, a man used payment app DBS PayLah! to send her messages threatening to share an intimate photo he had taken of her.
Source: TODAYonline - 🏆 1. / 99 Read more »

Best Fixed Deposit Rates in Singapore for Feb 2024Fixed deposits offer potential rewards during the Chinese New Year. Despite fluctuations, several banks in Singapore continue to offer competitive rates, with some requiring minimum deposits as low as S$500.
Source: IndependentSG - 🏆 9. / 63 Read more »