Tag Archives: Authorisation

SG BANKS WITHDRAW CUSTOMER’S MONEY TO PAY TAX WITHOUT PRIOR PERMISSION?

I WAS shocked to learn that DBS Bank can transfer funds from account holders to pay outstanding property tax without the customers' authorisation ("Fail to pay tax despite reminder? Bank can step in"; last Thursday). Are other banks in Singapore, including foreign ones, also allowed to do this? This is a wake-up call for Singaporeans, to find out that banks can transfer money from their accounts without authorisation.

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