Originally posted by berll:
i don't think the application of debit card requires the above
minimum income.
as long as you're 18 and above, able to put deposit of SGD500-1000,
depending on banks, you should be able to apply for one.
[b]Some
Info:
Scenario 1
When applying for a debit card and you don't have an existing
account with the bank, you will be asked to open 2 accounts:
1) Current Account - This is where your money is
deposited, is a statement account and ATM card can also be
requested.
2) Debit Card Account - Linked to your Current
Account
When you swipe your card, draw cash, purchase things online etc,
the amount will be deducted from your Current Account immediately,
just like NETs.
Scenario 2
When applying for a debit card and you have a existing with the
bank, you may link the Debit Card to your existing account.[/b]
I totally agree with you.
However, you get UOB Debit Card (VISA Electron) and POSB Go! Card
for both of the two scenarios you mentioned. Therefore, you can
make local and foreign purchases at the point of sale but not for
Internet purchases.
Refer to all my previous posts to get a comprehensive
understanding.
