atans1

Why PM wants a cashless payments system/ Ownself sabo ownself

In Banks, Economy, Political governance on 27/09/2017 at 6:42 am

Why does PM wants a cashless payments system?

Because no-one can hide from Big Brother when the banks are at the centre of the system.

When TRE republished my piece on a TRE appeal on behalf of its longest serving team member, there was this response

oxygen: MY INFORMATION SOURCES ARE RELIABLE – just bring whatever cash you want to donate, fill in a deposit slip of amount and account number of payee and hand it to the bank teller at the counter.

No banker is interested in who is the donor or deposit maker. A can pay C on behalf of B who is short of cash or unable to have funds to settle his/her debt to A. Or X can pay Z $XXX giving the latter a financial loan.

It is none of anybody’s business except as between the transacting parties. No bank ask you why you pay a check to supplier A – Z for what financial obligations. They are not interested to know your business transactions. People gives to charity – nothing wrong with that.

So those who can afford and want to give to charity, just walk into a bank and do it before 30 September.</blockquote

and someone tried it and it worked

Trying it out: This morning I deposited S$50 to the given POSB account over their counter. I handed cash and remain anonymous. I did not give any of my personal details. I got the receipt. But the recipient name is slightly different. I hope it is all in order. I was trying out donation on anonymity basis.

http://www.tremeritus.com/2017/09/20/follow-up-to-tr-emeritus%E2%80%99-in-house-techie-requires-assistance/

So go on – if you are able and incline to contribute to humanitarian cause. It is nobody business if you want to do charity or help someone (can be Ah Kow, Ah Ngeow or Ah Beng or Ah Lian) who haven’t got the time to Q in a banking hall to do charity.

Singapore POSB Account

Payee: Ten Leu-Jiun

A/C No: 193-69702-0

(The last day of payment to this account is 30 September 2017.)

Ownself sabo ownself

Incidentally, no picture, no sound from the PM or his minions on the e payments system proposed by Razer’s CEO https://sg.news.yahoo.com/razer-ceo-submits-two-pronged-e-payment-system-proposal-pm-lee-112133198.html.

PM was talking cock when he was moaning that S’pore was so far behind China in e-payments because it’s his and his administration’s fault.

They are not fighting vested interests i.e. the banks: think transction and merchant fees charged. And the PAP administration’s red line is that banks must be at the heart of the system. This among other things ensures that the authorities have access to information.

But let’s be thankful to the PAP for sticking to the Hard Truth of die die must protect our banks: Cash is king. And anyway I own Haw Par which is a cheap way of buying into UOB.

But don’t try depositing a $1000 bill into any bank account. A few yrs ago, someone gave me a $1000 bill. I gave it to my mum and she decided to put it into my POSB account. Bank wanted me to come down to deposit it. She said I was overseas and so bank reluctantly took the money.

 

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  1. They can’t even organise a unified atm network.

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