UnionPay

I receive small payments through PayPal, e.g. for purchase of my books. There is a minimum charge for each payment, which amounts to about 5% of the amount collected. I found this charge to be rather high.

My friend told me that a popular mode of payment in China is UnionPay. The fee is quite low. It seemed that the authority promoted this form of payment to reduce cost to the citizens and small businesses. It is a convenient and inexpensive way to make payment for small transactions.

I hope that our MAS or IDA can take the lead to introduce a similar low cost and convenient way to make small payments.  The current method of paying by funds transfer through internet banking is too cumbersome.

Tan Kin Lian

Exchange with a customer care manager

Does the customer care manager really care about the views of its customers? Read this story.

Financial Savvy Test #17

Take a test of your financial knowledge by answering the questions below. You can find the answer from www.tankinlian.com/information.aspx - type in the keyword to search for the relevant FAQ

1. How can I get Medishield insurance for my parent who is not insured now? Keyword: not insured
2. Is there any potential danger to join an insurance company as an agent? Keyword: potential danger

Better Business Practices

I have written about the poor customer service of DBS Bank, UOB Bank and Singapore Airlines. The poor service is a result of a focus by business corporations to cut cost and  increase profits. In doing so, they overlook the need to serve their customers well and treat them fairly.

The representatives of DBS Bank and UOB Bank have since called me to rectify the issues that I have raised. I hope that they will look at the underlying causes, and change some of their existing practices. It should not be fire fighting, but a cultural change in their attitude and approach.

I have come across many cases of bad practices by business corporations and government agencies in Singapore. I shall be writing about these practices. My aim is to get these corporations and agencies to recognize that these practices are bad from the customer's point of view. They should act to make changes to improve their customer service, without increasing their cost of operations.

I know that this will be a long journey to change mindsets and practices that are now cast in stone. But, I shall try.

Tan Kin Lian

Open letter to SM Goh

Wing Lee Cheong sent this open letter to SM Goh about his remarks on the poor quality of life as a farmer. He also sent his photos to show his quality of life in Canada as a retiree, living in nature and at a low living expense.
Read his letter in SGEP.

David Marshall - the joy of public service

David Marshall was a former chief minister of Singapore. In this interview, he spoke about the joy and excitement of public service, not necessary to have a high salary.

PAP

I received this suggestion from a reader of my blog

The way to get your voice in is to follow the PAP -- people's ACTION please!
Everyone of you please try to get 10 people you know to pledge that they will vote for opposition in the next GE. And that each of them must also get 10. No duplication please. Once a person has pledged with someone, he/she is not allowed to pledge again. 
People -- ACTION -- please!
Dare To Act