Last week, I had popped into a bank to open a CPF investment account. When my queue number was up, I approached the counter. Unfortunately they do not have the application forms at the bank.
lancerlord: Hi, I like to open a CPF investment account please.
CSO: Investment account. Sir, let me check if we have the application forms.
* CSO goes to the back, talks to the bank manager and returns *
CSO: Sorry sir, we do not have any forms. If you drop by our XXX branch, they will have the forms there.
lancerlord: So your bank does not allow customers to open CPF investment accounts?
CSO: No, we can open an account. It is just that we need to request the forms to be sent to us from XXX branch. Then when the forms are completed, we need to send it back to XXX branch for processing. If you go to the XXX branch, it will be better. You can get the account on the spot. It will be faster that way.
Does not make sense but consider me unlucky. I spent half an hour waiting and just spent another 2 minutes with the CSO and I was out of the bank. I should have checked with one of the counter staff in the first place.
Anyways, I have opened an account with another bank on Friday.
CPF investment schemes don't seem to earn much after my one year of experience looking at the share percentage dropping and dropping, up a little and then drop again.
ReplyDeleteOf course, if you don't have commitment to buy a flat through CPF, then it's okay because these investment schemes are very much long term.
Take about being effective, do they really need papers now that almost all data are updated electronically?
ReplyDeleteJust for record, for record's sake... :)
jayaxe: Long term should have better results.
ReplyDeletejkaiser: Ya small branch but the bank is the biggest in Singapore leh.
agentx: They needed my autograph so need to sign on hardcopies. kekeke...