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UOB, OCBC and DBS Bank customers can lock up funds in their bank accounts to block the money from any digital transaction starting this week
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Geeat way to protect again any hackers but it still doesnt solve the root problem
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Wonder would banks still be responsible for safeguarding those funds that are not locked up?!
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Good idea for the non-tech savvy peopl and for banks. But I would rather deposit most of the money that i will not forsee to use in near future in tbills or ssb or fixed deposits which have higher interest rates than locking it up in the bank and benefiting the bank.
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Probably good for old people and those who don't use digital banking much....
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Nice enhancements for seniors