DBS Debit Card Fraud?!

A DBS Debit Card Fraud? One of the most horrifying incident that have happened and never will you expect it to happen. Everything happen within minutes and my DBS bank account was almost emptied.

I have received 3 one-time verification SMSes from DBS Bank in order to facilitate some online transactions. This SMS required me to key in said passwords in order to facilitate some online transactions, but I had actually just woken up from my sleep at that point of time and have NEVER made any such transactions. Thus, I made a call to DBS to enquire about this issue but was informed that the transaction had been made overseas. When I updated them that the transactions were not made by me, they informed me that they could block the card but made NO GUARANTEES that they could stop the transactions from going through.

Later that afternoon, I went directly to one of the DBS branch to check on my account but was shocked to discover about the missing monies. After lodging the complaint AGAIN, they revealed to me that my money have been transferred to 8 different accounts that morning; and these agencies shared the SAME account number!

To clarify, I did not use my card for any online transactions neither did I lose my debit card before. Call yourself Singapore’s most renown bank, I have simply lose all my trust in this bank. Why could this fraud happen again and again after years? IF I haven’t authorize any transactions from my one-time password received, why did those transactions go through?

Please share this piece of information and CHECK on your account DAILY!


To get the most from your pocket

With the increasing amount of stress one face during school, work and life. I guess one of the most common question we ask ourselves is how do we get richer? Strike a lottery? Get a better paying job? Improve ourselves by studying? Investing our wealth?

Yes to the above, which I agree we need to look into that aspects of life in time to come. But, have you ever done your part in getting richer? That’s my point today on how we can help ourselves in managing our wealth, which is one of the most important thing to do daily, that’s saving. I believe even top earners need to practice good wealth habits to keep their riches, I am not saying I am absolutely correct but I know saving our wealth is definitely beneficial for us. Therefore, set a amount you want to save, slowly spreading it across a yearly and monthly basis to track if this target is possible to achieve and adjust if necessary. After every month’s paycheck, set a side the planned target amount to save before you overspent and left with nothing to save at the end of the month.


“Do not save what is left after spending, but spend what is left after saving”Warren Buffett

“If you buy the things you do not need, soon you will have to sell the things you need “Warren Buffett

Let me share with you my savings tips;

1. Stay indoor. This means to have meals at home and minimizing the spending on entertainment activities or food.

2. If you need to go out, always have your breakfast/lunch at home before heading out. Else, include activities that is wallet-friendly. Instead of a movie and restaurant dinner, opt for a picnic date or volunteer in some charity organisation. (This make weekends more meaningful, isn’t it?)

3. Plus, do bring along your water bottle everywhere! ( As usual, we spent significant amount on bottled drinks)

4. Dine in food-courts or hawker centres for meals. The maximum amount you could spent alone is probably $8? (Comparing to restaurants, easily $20/pax)

5. Keep CARDS off the wallet! It definitely brings off the urge, as cash money is always harder to bear than an electronic transfer.

6. Always remember to keep track your own spending. By monitoring, you will know how you can improve at the end of the month. (For my case, I would take note of every withdrawal transaction on my phone to see where my money go to and how it was spent)


They always work! But always keep in mind, do not be penny wise pound foolish. To be cautious with small amounts of money but wasteful with larger amounts. Likewise, do not be tied up on how boring saving money will be. Play around with it, have your own cheat days and rewards to motivate yourself. Need not be so stringent on what to do or not to do, I believe we will all be our own achievers! 😉