Monday, June 4, 2007

CASE complain about NETs

Consumer Association of Singapore(CASE) is lodging a complaint to the Competition Commission of Singapore regarding the upping of the NETs administration fee.. I'm not sure if it will help but its better than nothing. NETs have a near monopoly over here, and its actually my preferred mode of payment.

I had no idea that the upping of the NETs administration fee is confirmed. I only thought it was preliminary. And guess when our 3 banks choose to up the administration fee? July. GST up, NETs administration fee also up.

NETs lasted for 22 years, and now they said that the hike is necessary to stay competitive against international debit cards. Like real! You mean for the past 22 years, NETs is not firmly entrenched enough in Singapore? Not everyone can apply for a debit card. Research has already shown that students are one of the heaviest spenders. Can students apply for debit card? Not all...

This is "great"... And I guess the standard template from the government will be that the economy has changed, and that the banks need to "innovate" their present products. Like real.

Let's see if CASE still has some bite.


Rhinestic said...

I still dun like how $$$ has evolved!.... =\

Hrmm.. This sounds like spamming hoh..

chantc said...


Anyway, its not $$$, its how cards evolved. :)

Guess next time we'll see 3 charges. Cash $x. NETs and Credit cards $x+y.

Good riddance to the 3 local banks. All fail their economics.

Visit Rhinestic's Knick Knacks @ Etsy for handmade goods and supplies!

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