Forum
Last updated: 

Does my money also liquidate along with the bank?

Earning money here in Singapore is hard especially when you are a beginner here. I have been working for quite a long time. My employer suggested to open a bank for me to be able to save up my money. I have saved up my money in a bank as they told. After years past. The bank went bankruptcy, I am now worried if money is still okay or will it also liquidate with the bank.

Search other products or providers:

User comments

  • user image

    No Name

    There are some cases when you just opened a bank account and had a savings account, the bank under goes bankruptcy and you cannot access to banks anymore. Do not worry, your money is still safe and will not liquidate like the bank. Your money is insured by the government and by the legal rights you can withdraw your money to them/

    2020.03.24 15:44

Please leave your knowledge and opinion!

Related Forums

Savings

Who can recommend the ideal joint account suitable for couples?

Savings

Can I use a debit card to book bus?

Savings

What is the best bank that will give a big interest to my savings?

Savings

Damaged bank card

Savings

May I lend my money from savings in the bank through online transaction?

Savings

Can I sue someone who is sabotaging my life?

Related Reviews

Savings

Pay a fixed fee for continuous travel insurance throughout the year.

Allianz Global Assistance provides decent travel insurance options for consumers and excels in two specific types of coverage which are coverage for travellers going on longer trips and for those traveling with children. Where most companies top out around three months.That I think is an essential feature for college students studying abroad or recent grads taking extended backpacking trips. Now if you’re a frequent business traveller, Allianz also offers four different annual plans, which allow you to pay a fixed fee for continuous travel insurance throughout the year.

Allianz Family Travel Insurance / Allianz Global Assistance Singapore

Savings

No esponse to email claims and poor customer care service

Don’t bother to buy insurance from them no matter how cheap they offer it as they do not response to email claims and when one calls them for an update, one is told that it takes two months to REVIEW a claim. Well in my case one month had passed and they wrote back to me asking to prove that I travel outbound and other documents. Now my question is why they did not asked for such documents within a week of my claim submission? Please avoid this company!

HLAssurance Single Trip / HL Assurance

Savings

A golf advantage cover that provides coverage for damaged or lost golf equipment in your checked luggage

Unfortunately, Allianz has pretty strict restrictions when it comes to sports coverage as you won't be covered for sailing, hunting, playing polo, mountaineering, skiing, rock climbing, parachuting or hang gliding. You do however, have a golf advantage cover that provides coverage for damaged or lost golf equipment that is in your checked luggage. Allianz has an efficient online claim portal allows customers to submit and file their claims online easily and if you have problems uploading your claim you can call or email them for assistance. If you are claiming for medical or dental expenses, you will still have to send original copies of your supporting documents and an acknowledgement email to the address in the table below.

Allianz Travel Protect Single Trip Gold Plan - Standard Chartered / Standard Chartered Bank Singapore

Savings

Just $30 for a week’s cover in Asia,and $44 for a week's cover in Europe and US.

Even as SOMPO is not cheap generally, they still try to remain competitive promotions like the generous 40% off, which makes the basic Sompo Travel Joy Vital plans affordable with just $30 for a week’s cover in Asia, and about $44 for a week in Europe and US. However, even with 40% off, be prepared to pay a premium for their GO Japan! Plan. It’ll still set you back close to $53 for a week’s coverage.

SOMPO TravelJoy Elite / Sompo Insurance Singapore

Savings

I cancelled my airline tickets and submitted my claim online

When I bought airline tickets much farther out in advance than I would normally do, I bought travel insurance via Allianz and also added the "required to work" rider for it just in case. I am so happy I did as due to some changes in my department I was not able to go on vacation as previously planned. I cancelled my airline tickets and submitted my claim online, including printouts showing I cancelled the tickets, along with an email from my supervisor indicating I was required to work.

Allianz Single Trip Travel Insurance / Allianz Global Assistance Singapore

Savings

Insurance policy covers outdoor activities and even extreme sports.

I don’t usually make reviews or comments about products but one simple thing that impressed me about the Amex Express VoyageGuard was that there was absolutely nothing at all in the Amex travel insurance policy wording to exclude outdoor activities or even extreme sports. That is very unlike other competitors we exclude such, I commend this card for being adventurous.

American Express VoyageGuard Travel Insurance Superior Plans / American Express International