Less than a month ago, United Overseas Bank (UOB) launched a new debit card - NOW card. Other than VISA card capabilities, ATM and ez-Link capability are also included. With this launch, existing debit cards in circulation are terminated and auto converted to the new card. Previous agreements on old debit cards are all void and new NOW card agreement is to set in. The new NOW card is missing one very important feature which is NETS capability and this resulted in nationwide dissatisfaction.
Last week, there are a couple of articles on the news reporting on consumer rights issues relating to the NOW card. They complained on UOB not giving consumers option to accept or reject the new card. UOB's decision in going ahead with automatic conversion from existing debit cards to new NOW card is disappointing. There was no notice to consumers on the change. Without NETS capability, consumers will now need to visit UOB branches to apply for a new ATM card. They will now need to bring two cards.
FYI, this NOW debit card is a platinum card. A platinum status is usually given to credit cards for consumers with a higher credit limit. With this platinum status, debit card users have to pay $18 annual fee now! Even POSB Everyday Credit card can have NETS capability.
BTW, UOB NOW Card does not look good.
