[Push] If I Had A Little Money
Banking is Singapore is an inspiring mix of efficiency and inefficiency
Case in point, security: for me to access my account online requires two-factor authentication, the second piece of information being a uniquely-generated pin from a physical keyfob; to take out cash or pay for a transaction in a shop requires a six-digit pin; and within less than a minute of me making a transaction online with my credit card, I was phoned to confirm it was valid
Case in point, functionality: online backing provides me a far more feature-rich toolset than my UK bank, with a far more thought out interface; each of my accounts and cards and services are linked so I have one vision of my finances; I can set a withdrawl preference for the ATM, permitting me a single-button cash withdrawl
Case in point, branches: simple transactions are manual, exceedingly so in fact, and complex ones require copies of all the relevant paperwork although they've seen it before, taken photocopies before; everything is people intensive, but it works
Knowing the value of anything is hard. Eating in a food court will provide a good meal for four dollars but buying a round of drinks for four will easily hit thirty of fifty dollars; a coffee in Starbuck will set you back five, but from the kopitiam it might not be more than a dollar
And I'm still not used to carrying a couple of hundred dollars with aplomb
Case in point, security: for me to access my account online requires two-factor authentication, the second piece of information being a uniquely-generated pin from a physical keyfob; to take out cash or pay for a transaction in a shop requires a six-digit pin; and within less than a minute of me making a transaction online with my credit card, I was phoned to confirm it was valid
Case in point, functionality: online backing provides me a far more feature-rich toolset than my UK bank, with a far more thought out interface; each of my accounts and cards and services are linked so I have one vision of my finances; I can set a withdrawl preference for the ATM, permitting me a single-button cash withdrawl
Case in point, branches: simple transactions are manual, exceedingly so in fact, and complex ones require copies of all the relevant paperwork although they've seen it before, taken photocopies before; everything is people intensive, but it works
Knowing the value of anything is hard. Eating in a food court will provide a good meal for four dollars but buying a round of drinks for four will easily hit thirty of fifty dollars; a coffee in Starbuck will set you back five, but from the kopitiam it might not be more than a dollar
And I'm still not used to carrying a couple of hundred dollars with aplomb