Monday, October 18, 2010

Wendy upset with DBS Bank

My friend Wendy has been a DBS Bank customer for more than 30 years. You can consider her one of the bank's loyal clients.

Soon after she started work, she got for herself the bank's Classic Visa credit card. Later it was changed to a Gold card and she has been using it since.

Last month, the bank sent out a letter to all its customers who have its DBS Affinity/Charge Gold Visa/Mastercard credit cards, informing them of their impending closure.

Its September 28 letter did not give a reason for the closure. It simply said that it will be closing the credit card programme on December 1 and that any supplementary card tagged to the principal card will also be closed.

Wendy was understandably upset because she felt that the bank should have offered her another card as she had been a long-time customer and that was the least it could have done.

Instead, it asked that she apply for another DBS/POSB card that is "most in tune with your lifestyle".

By the way, Wendy is a Treasures customer, so one would have expected the bank to offer her another card without her asking for it.

Instead, she had to call up her relationship manager who subsequently visited her to get her to fill up an application form for a new card. This is really unnecessary "service" which the bank could have easily circumvented.


  1. I, too, had the same experience as Wendy. The difference is, since DBS does not seem interested in my continued participation in their credit cards, I've applied for a card not issued by DBS but by another bank - one that does not charge annual fees.

    The odd thing is that DBS sent me a letter just a few months ago informing me that due to MAS guidelines they would be replacing their credit cards with those having an embedded EMV chip and reminded me to use my credit card at least once so they know that my credit card account is still active. So much for their long-term planning.

  2. Yes, ShunXi, one always has a choice where credit cards are concerned.