Thursday, April 03, 2008
I have never come across this in Singapore until yesterday when I followed my buddy to Mustafa Shopping Complex.
When we were paying at the cashier, he told the lady that he also wanted to withdraw $20. I looked at him shocked. I thought you can only withdraw money from banks or ATMs.
My buddy said someone told him that anyone with an ATM card can go to the cashiers at Mustafa to withdraw money from their bank account. So he decided to try it out yesterday.
The cashier lady swiped his ATM card on the NETS machine before telling him that there will be a 30 cents charge and then handed him $20 from the cash register!
Here's the receipt.
As you can see, she charged him a total of $20.30. The 30 cents is the cashback fee.
What is this cashback fee? Is this legal? I did a little checking with NETS and apparently it is.
NETS Cashback is a value-added service that allows the customer to withdraw cash from any participating outlet. The amount withdrawn will then be directed into the customer's bank account by the next working day.
Ah interesting. Anyone know of any other NETS Cashback participating shops? I think this is a great service especially when you can't find a nearby ATM to withdraw some cash.
Posted by I.Z. Reloaded at 3:58 PM
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