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Payments

Digital Payments: Trends, Challenges & It's Future

131 
Questions answered
  • Gangna
  • Victor Tan
  • Kathlyn Laiu
  • Deidre Foo

Organised by NUS Enterprise under the Kopi Chat Series! Please leave your questions below. To find the latest questions, simply click on the 'Unanswered' tab. We'll get the speakers to reply you personally here, as well post-event!

Date: 14 Nov 2019, Thursday

Location: NUS HANGAR

ASK YOUR QUESTIONS BELOW!

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COVID-19

Property

Payments

Rebates

" Landlords are urged to fully pass on the rebate to tenants by reducing rentals, to directly ease the cash flow and cost pressures faced by tenants. " Not compulsory.
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Payments

Transportation

Transport

Interest Rates

There are a few things that we need to know in order to give you specific advice. This is because not all banks will entertain car re-financing. As such, we need to know the age of the car as well as the outstanding loan for the car. Moreover, determine the early settlement fee to see if it is worth the switch. Without all these details, it is impossible to do any calculation and have a conclusion to this end. I share quality content on estate planning and financial planning here.
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Payments

Credit Cards

2 things you can do: 1. Talk to the service provider that you wish to cancel the service and if they agree, check the lost that you will be incurring (usually full amount less amount / charges of services that you have consumed), which is a lot but better than nothing or better than continue paying something you don't need. 2. If the service provider do not agree to any form of cancellations without partial refund, write in to CASE and go down and talk to the officer with your receipts, invoice, payment etc and they would be able to provide alternative options. Hope you may cancel the plan and get back some $. Cheers
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COVID-19

Retirement

Savings

Payments

As always, I follow a strict budgeting process whenever it comes to my finances. Accordingly, I tend to have some surplus in my expenditure account at the end of each month. As a result, so far everything is fine and on track. How I do My Budget: How to create a Monthly Budget For readers who are negatively affected, I will suggest for you to spend quality time to have a complete understanding on your cashflow. Through this process, we will understand your earning ability and spending habit. Here is a Guide: Understanding Your Personal Cash Flow Thereafter, create a budget to ensure that you are not overspending your money. For the most part, maintain a basic savings ratio - do not give yourself an excuse otherwise. I share quality content on estate planning and financial planning here.
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Investments

Stocks Discussion

Payments

Online Brokerages

Brokerages

Hi anon, Buying or selling on Singapore markets will incur the same cost structure, namely: a) Brokerage of 0.28% or SGD25 (for contract value less than SGD50K, any higher and you may have reduce brokerage costs, check with your broker) plus b) Clearing Fees of 0.0325% of contract value plus c) SGX Trading Fee of 0.0075% on the gross contract amount plus d) SGX Settlement Instruction Fee of SGD0.35 per settlement and finally after you sum up a) to d), add 7% because we have to contribute to the nation by paying GST.
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Payments

Savings

General

Transportation

Clara Ng
Clara Ng, Community Manager at Seedly
Level 5. Genius
Updated 2w ago
Hi Anon, It seems like you can! Just head on down to any TransitLink Ticket Office and you will receive a refund of the remaining travel value in the card, but the $5 card cost paid during the purchase of the card is non-refundable. Here's the link for more info: https://www.transitlink.com.sg/PSdetail.aspx?ty=catart&Id=1#4
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BOC Great Wall Platinum Card (VISA/MasterCard)

Payments

Credit Cards

Kathlyn Laiu
Kathlyn Laiu, Community Associate at Seedly
Level 6. Master
Answered 2w ago
There is an interest free period of 23 days from the statement date if the bills are paid in full (balances are interest free if Effective Interest Rate (EIR) is zero). Late payment charges is 5% of the minimum payment sum while the annual membership fees is $203.30 for principal card and $101.65 for supplementary card (inclusive of GST) Administration fees: 2% of the transaction amount for Visa, Mastercard and 2.4% for UnionPay. These are the key fees you should take note of when paying your bills for BOC card.
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DBS Black American Express Card

DBS

Savings

Payments

Cashback

Credit Cards

Kathlyn Laiu
Kathlyn Laiu, Community Associate at Seedly
Level 6. Master
Answered 3w ago
You can get up to 3X DBS Points (which equals to 6 miles) for every $5 spent on local visa pay wave. there are even up to 10% off on selected partnered merchants. the deals are mainly dining, shopping and travelling benefits (includes some 1-1 meals with selected merchants).
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Payments

Family

Credit Cards

Amanda
Amanda, Marketing Graphic Designer at Seedly
Level 5. Genius
Answered 3w ago
Hello Cho Yee, I’m really sorry to hear about your situation. It must be really stressful for you, and I hope you have ways to contact your brother to make sure that he’s safe as well. Please try your best to coax him to come home, and the both of you can try to fix this problem together. Similar to Charmaine below, I wonder if you owe the money to banks or to someone else? Because if the debt starts to accumulate interest then that might be another problem. ): If possible, I think you can seek help from Credit Counselling Singapore (ccs.org.sg). They are a non-profit that tries to help Singaporeans with their debt issues. Alternatively like what Sj Oh suggested, try contacting MSF to see if they can help. I’m not sure if this is also feasible. But if you need to pay off the debt ASAP (let’s say there’s an interest rate), then maybe you can borrow from family first? Perhaps cousins, if you don’t want to let the elders know about it. To me, I believe it’s better to owe money to people you know and trust because they won’t charge you interest. Which will give you more time to raise the money to pay off the debt. I’m sorry, these are all that I can think of. And please please please do not act on your suicidal thoughts. It is not worth it, your life is worth more than $5000. If you need a listening ear, you can talk to Samaritans of Singapore, or update us on your situation on the Seedly Community! All the best, I truly hope that your problem will be solved soon.
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OCBC Best Denki Credit Card

OCBC

OCBC FRANK Credit Card

OCBC 365 Credit Card

OCBC 360 Account

Rebates

OCBC Titanium Rewards Card

Payments

Savings

Credit Cards

Kathlyn Laiu
Kathlyn Laiu, Community Associate at Seedly
Level 6. Master
Answered 3w ago
The STACK rewards programme is a multi platform loyalty platform that brings all your rewards points together on a single platofrm so you can track and exchange points. STACK allows you to combine points from multiple rewards systems. STACK has a feature called STACK marketplace where you get to access a catalogue of deals and rewards listed. As long as you are a member of at least 2 of the participating members, you can use STACK. Partners of OCBC are: Robinsons, Millennium Hotels and Resorts, UPGREAT, AsiaMalls
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