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 The amount withdrawn will then be directed into the customer's bank account by the next working day.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.
12 comments:
if i'm not wrong, u can also do this at NTUC...
I had known Mustafa would do this; they've got a sign next to the cash registers saying so. I suspect that Shop N Save will allow you to do this as well, although I've never asked and never tried.
Most Major Supermarkets like Auntie Lucy, and Cold Storage were on the scheme when it started a few years back.
However,I am not sure if they are still on it.
Ah, Cashback is quite common in Australia. I hardly ever used it while studying there though. I prefer to know my balance after withdrawal, which Cashback doesn't allow.
I don't recall a fee for using the service though!
It's quite convenient as you don't have to go around looking for an ATM, especially on places you're not familiar with.
I didn't know, until my friend told me that it's possible too. Well, it doesn't matter how much balance I should have, as long as I know there is cash in my bank.
And charging 30 cents for a convenience fee, why not?? After all, they are humans, not automated teller machines. Convenience stores (e.g. Cheers, 7-11 etc) has higher costs due to it's convenience.
=)
its been going on for quite some time.
where have u been?
I'm going to try this at 7-Eleven.
30 cents charge to withdraw my cash. That's extreme. I'd rather use normal ATMs.
It's a bad idea to withdraw money from those cashiers at Mustafa. The queue is always so long.
those banks shld setup atms near the mustafa ctr so that it is far easier to withdraw cash!!!
Its been around for quite a while dude. Where have you been?
There's a big Israeli chain of stores at gas stations that does that.
They're open 24/7/364 so that's nice, too.
(364 - since practically nothing's open on yom kippur)
Post a Comment