Mighty Saver

Reply to Mighty Saver on Thu, 27 May 2010 15:51:46 GMT

DesertWind — Thu, 27 May 2010 15:51:46 GMT

I now have lots of S$1 and 50 cents coins already pre-sorted in those plastic ear-buds containers!

Yes, knew of the coin deposit machines of DBS bank but the coins are simply too heavy! So I always transfer the equivalent amounts into my DS' kids accounts via internet banking (same as for ang pow money!). This is a much more convenient way.

However I still need to dispose of these coins! My DS is still too young to help me count. One good way to use it up is to spend on those kids' machines with music or sweets/toys!

Another way is to use a purse and pay lunch with all coins!
:celebrate:

Reply to Mighty Saver on Thu, 27 May 2010 06:47:14 GMT

hquek — Thu, 27 May 2010 06:47:14 GMT

starlight1968sg:
hquek:
nope. that time I had a bag full of coins...I think it was in the hundreds, cos I stood in front of the teller for the longest time.

I am sure at home you will need some coins. So you change some coins into notes at home first before going to the bank. This will reduce the amount of coins the tellers to handle.

POSB has a coin deposit machine but charges a fee.

DH collects 50cents and 1dollar coins for fun. When it gets filled up, we'll make a trip to the bank. It gets a bit too much to use...very bulky.

As mentioned before, POSB waives the fee if deposit is made to kid's account. Just fill up some details on the confirmation slip and slot into the quick cheque deposit box - and wait.

Sorry, I don't believe in paying for charges that can be waived.

Reply to Mighty Saver on Thu, 27 May 2010 06:44:58 GMT

starlight1968sg — Thu, 27 May 2010 06:44:58 GMT

hquek:
nope. that time I had a bag full of coins...I think it was in the hundreds, cos I stood in front of the teller for the longest time.

I am sure at home you will need some coins. So you change some coins into notes at home first before going to the bank. This will reduce the amount of coins the tellers to handle.

POSB has a coin deposit machine but charges a fee.

Reply to Mighty Saver on Thu, 27 May 2010 06:34:07 GMT

schellen — Thu, 27 May 2010 06:34:07 GMT

We don't use OCBC (except for CDA, that one limited choices) but UOB. Since it's so troublesome for us to bring coins there, on certain days at certain times (clearly indicated on notices/signs within the bank itself), we just use the coins ourselves or as pocket money for DD1. I will count the coins and report to sashimi who will transfer the amount to DD1's account via internet. I even ask DD1 to help me count. She likes to do it and she can see how much she has, which, I hope, spurs her to save more.

(DD2 still baby so her angpows don't have coins.)

Reply to Mighty Saver on Thu, 27 May 2010 06:23:58 GMT

hquek — Thu, 27 May 2010 06:23:58 GMT

nope. that time I had a bag full of coins…I think it was in the hundreds, cos I stood in front of the teller for the longest time.

Reply to Mighty Saver on Thu, 27 May 2010 06:17:53 GMT

starlight1968sg — Thu, 27 May 2010 06:17:53 GMT

I guess if you depositi a bag of coins, the teller would want you to come to the bank at certain days. If you have just a few coins, say worth of $2 or 3 (I don’t know the exact amount), then the teller usually accepts them.

Reply to Mighty Saver on Thu, 27 May 2010 05:22:59 GMT

hquek — Thu, 27 May 2010 05:22:59 GMT

then again, I thought they should have some coin sorting machine…why would you need to sort for them? That’s what the bank staff used…else count by hand - the sun would have set already.

Reply to Mighty Saver on Thu, 27 May 2010 05:20:07 GMT

MMM — Thu, 27 May 2010 05:20:07 GMT

hquek:
In fact, I think OCBC is pretty receptive to complaints. I had problems with some other service and their staff actually called me back and help resolve the issue.

Thanks... that reminded me to feedback to them. Yes, I recalled that once I cancelled my credit card with them as they wanted to charge me for renewal, I had some 0% instalment arrangement. The bank officer didn't highlight to me that if I cancel, I would have to pay a penalty on the 0% arrangement as I thought just pay off whatever remaining balance only.

So I was really upset when they slapped me a charge for early termination. In the end, I complained they reacted, reinstate my card for me FOC.

Reply to Mighty Saver on Thu, 27 May 2010 05:03:58 GMT

hquek — Thu, 27 May 2010 05:03:58 GMT

I had deposited coins to my kid's account before (and I think should be on Saturday)...no problems leh. :? In fact, I think OCBC is pretty receptive to complaints. I had problems with some other service and their staff actually called me back and help resolve the issue.

For POSB kids account, if you use the coin deposit machine, I think you can write name/contact number and account number (if it's not on the slip - I cannot remember). They will do the reversal automatically. I tried it once long long time ago - and it works.

Reply to Mighty Saver on Thu, 27 May 2010 05:02:32 GMT

peterch — Thu, 27 May 2010 05:02:32 GMT

My kids have POSB Kids Account and they could deposit their coins whenever they like and the tellers are very helpfull…

Reply to Mighty Saver on Thu, 27 May 2010 04:46:47 GMT

raynreg — Thu, 27 May 2010 04:46:47 GMT

DBS has the coin deposit machines much like the cash deposit machine. But if the coins are deposited into a kids account, they could reverse the charges that its levied in the initial deposit process. You just need to keep the receipt and put it into the cheque deposit box.

I do not know the acutal procedures but that’s what I was told. So if the coins are meant for the kids accounts then its free of any bank charges.

Reply to Mighty Saver on Thu, 27 May 2010 04:46:41 GMT

MMM — Thu, 27 May 2010 04:46:41 GMT

titank:
Thought normally conis are acceptable since it is a child account? Last time when have the POSB Bank in our schools all said can use coins to deposit.

Precisely.... they said they don't have coin counting machine and it takes up processing time so can only do on certain days only and make sure you sort out the coins first :roll: :siao: Something is very wrong with this bank.

Thought they are showing signs of aggressiveness but yet their internal processes just sucks...

Reply to Mighty Saver on Thu, 27 May 2010 04:41:01 GMT

titank — Thu, 27 May 2010 04:41:01 GMT

MMM:
Went to OCBC to deposit kids' savings today. It was coins and notes.

The teller told me \"In the future, you need to sort the coins\". I was like :? in what sense???? By denomination? She said yes.

Then next moment, she said, you can only bank in coins on tuesday and thursday.

It sort of \"trigger\" me off. I told her to feedback to her corporate services that if they are trying to attract young savers, then of course coins savings is common. Why are they putting so much restrictions/ barriers for banking in of coin savings??? :?

To me, it's full of contradiction and if it is so difficult, I will consider switching the kids to another bank so they will not future OCBC customers like how most of us are POSB customers.

Thought normally conis are acceptable since it is a child account? Last time when have the POSB Bank in our schools all said can use coins to deposit.

Reply to Mighty Saver on Thu, 27 May 2010 02:33:47 GMT

MMM — Thu, 27 May 2010 02:33:47 GMT

Actually most are $1 or 50 cents coin. It was relative easy to count. Alot lots of notes as well.... So I was like :? I just felt that the message they are driving and the process they have in place cannot sync.

Yes.... I gave up totally on the $20 restriction as well. Especially during CNY period or birthday, it came to a point, I told them to forget about the card/ presents. Seeing their bank grow is more rewarding than those stuff.

I am not sure if SCB is like that???? If not, I will consider switching though their bank network is not as wide but they do have full day banking now. Saw that maybank is also trying to encourage kids to open account with them but their network is just as pathetic.

Reply to Mighty Saver on Thu, 27 May 2010 02:25:12 GMT

caroline3sg — Thu, 27 May 2010 02:25:12 GMT

If I were in your position, I would have sorted first since I want to know total amount.

Agree they have many restrictions. Cannot deposit more than 2 times per month ($20 each time). What kind of encouragment is this ??

Wrist band is only for first timer.