Sunday, July 23, 2006

DBS Revised Terms and Conditions Governing Electronic Services

DBS has just released a revised terms and conditions that will take effect from 19th August 2006. It is a long and wordy statement which I believe most people will not read event though DBS put up a prominent banner on its website to announce the revision. Being the very free person I am, I took the trouble to click on that banner and scanned through the revised terms and conditions and one particular section under Part A caught my attention. I will reproduce the section as follows:
Part A - Conditions of Use of General Electronic Services
Payments Charges Fees Costs and Taxes
You will pay such charges and fees for the provision of Electronic Services as we may prescribe from time to time, whether or not you in fact make use of such Electronic Services. We are authorised to debit your Account(s) for all charges, fees, withdrawals and payments for the provision and/or use (authorised or unauthorised) of Electronic Services and any other liabilities to, and loss suffered by, us as a result of the provision and/or use of Electronic Services.

Source: DBS' revised terms and conditions

Are such clauses justifiable? I cannot imagine being charged for services that I do not make use of and furthermore, this amount being debited directly from my account!

With more and more of our transactions being done electronically, it will not be difficult for us to miss out additional debit items that are of small value. Even if we do notice and raise our objections, it will be difficult, if not impossible, to get the banks to credit back the amounts as the banks have already supposedly highlighted the policy in the terms and conditions issued.

I am definitely going to scrutinise all my financial statements more closely in future to make sure I am not being unduely charged for all sorts of weird items/services.

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