Dear Mr. Tan, I am a customer of a bank and responded to their RMB timed deposit promotion, which pays an interest slightly above norm. The bank converted my existing savings in SGD into RMB at their "internal exchange rate" at 36 pips above market rate and did not get my prior approval to the conversion or provided any documentation of the transaction. Is this transaction fair to the consumer and is this valid? REPLY It is not fair for the bank to convert your money at their exchange rate without getting your agreement to the rate. Here are the steps that you can take: 1. You can write a letter of complaint to the CEO of the bank giving your account of what has happened and why you felt that you were not fairly treated, i.e. if you were told about the conversion rate, you would not have ......