25-12-2022, 08:10 AM
Remember the people who were scammed at OCBC they were 100% compensated.
So long as its the established local banks UOB OCBC DBS .
It gets slightly riskier for smaller foreign players like CIMB Malybank ...
Having said that the risks is still lower than dying in a plane crash. Why I say this is because not a single depositor in developed country lost money through the collapse of a bank even in the financial.crisis because the govt always steps.in to rescue.
The reason is money today is fiat money. Deposit is always in local.currency that govt can print. So why should any citizen even lose 1 cent putting money in a bank when the govt can just print and compensate. If any govt refuse to compensate they will be voted out in elections.
For myself I won't bother to split even if I deposit in smaller banks like CIMB which is regulated by MAS...
So long as its the established local banks UOB OCBC DBS .
It gets slightly riskier for smaller foreign players like CIMB Malybank ...
Having said that the risks is still lower than dying in a plane crash. Why I say this is because not a single depositor in developed country lost money through the collapse of a bank even in the financial.crisis because the govt always steps.in to rescue.
The reason is money today is fiat money. Deposit is always in local.currency that govt can print. So why should any citizen even lose 1 cent putting money in a bank when the govt can just print and compensate. If any govt refuse to compensate they will be voted out in elections.
For myself I won't bother to split even if I deposit in smaller banks like CIMB which is regulated by MAS...
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.