I always felt that the people got shortchanged by the merger of
DBS and POSB.
For example, POSB was once the 'People's Bank'. You could open
an account there with just $1 and they would accept it. Then came
the merger, and the announcement of the minimum $500 balance.....
that ruffled a lot of feathers.
Also, they closed down quite a few POSB branches after the
merger.
About the only good thing that came out of it was the increase
in ATMs that can be used.
If im not wrong, somewhere along my research i read that POSB
originally had higher fixed deposit interest rates, and lower
interest rates for borrowing then DBS. but once they merged, the
interest rates went up.
