Singapore’s mainstream media Shin Min Daily has reported that their readers informed them that several ATM machines in various locations across the country – Jalan Sultan Textile Center, Serangoon Road, Block 37 Circuit Road and Block 301/302 Ubi Avenue 1 – were found splashed with black paint on the night of Wednesday (6th of May).
At least 6 of the ATM machines were found splashed with black paint. Incidentally, all 6 machines are situated by the roadside, which gives suspicion that the culprit could have been driving a vehicle.
Another reader, Manoj, who contributed a photo of the vandalism to mainstream media Stomp.
In Singapore, the splashing of paint is a vandalism act typically performed by creditors, often illegal moneylenders, to their debtors. The ATM machines featured in both reports seems to be POSB specific. The POSB bank was formerly a national bank before its privatization in 1998.
When the national bank was privatized, account holders who were aged 21 and above can no longer afford to keep funds below $500 without paying a monthly $2 fall-below fee. The move has been heavily criticized, even today, for making the poor poorer.
Do you think the $2 fall-below fee should be abolished?