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Are you sure your money is safe in Banks?
Everyone knows that in Singapore, your money in your banks are insured (Deposit Insurance Scheme) up to S$20,000 by Singapore Deposit Insurance Company (SDIC) in the event that the participating bank collapsed. Ok maybe not everyone know about this but I am sure only a small handful know that not all banks are covered under this insurance scheme... Before you rush off to withdraw all your money from your bank, let me show you which are the banks that are covered under this scheme and how are your money actually insured. The following banks are members under the Deposit Insurance Scheme: Full BanksAUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED BANGKOK BANK PUBLIC COMPANY LIMITED BANK OF AMERICA, NATIONAL ASSOCIATION BANK OF CHINA LIMITED BANK OF EAST ASIA LTD BANK OF INDIA BANK OF TOKYO-MITSUBISHI UFJ, LTD BNP PARIBAS CIMB BANK BERHAD CITIBANK NA CITIBANK SINGAPORE LIMITED CREDIT AGRICOLE CORPORATE & INVESTMENT BANK DBS BANK LTD FAR EASTERN BANK LTD HL BANK HONGKONG AND SHANGHAI BANKING CORPORATION LIMI
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