Citibank Maxigain Savings Account

JuniorLion

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A question

Let say you already have an existing CMS account, with 50k, already reached counter 12
And you have a spare 50k to invest in
Would you
A) Put in the 50k into that existing account?
B) Open a new CMS account?(Not sure whether it is possible though)

Things to consider
SDIC only insured up to S$50,000 per account

Any advise ? :o

I'll just max out to 150k, before opening another Maxigain.
 

molangtsum

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Inactive for a long time will become dormant and there is no button to activate dormant account. Need to go branch to do it.

Why don't just FAST $1 into the account once every quarter, that will keep the account active.

An inactive account will not allow you to withdraw fund and sometimes can't deposit into it as well. Interest crediting by the bank should still proceed (but since it is initiated by the bank, is not counted as activity since activity needs to be user-driven). Not sure about bonus counter but why leave it in doubt.

Every 6 months go in ibanking click "Activate account" can anot? :o

Sure got the "Activate account" button in ibanking right?

I haven't seen it cos havent 6 mths for me yet...
 

bluedolphin30

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If i accidentally transferred money out of the account by paying my card bill, then I transfer the same amount from another bank to my maxigain account(within mins), Will my lowest amount for the month still be taken as the amount after the transfer out?
 

JuniorLion

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If i accidentally transferred money out of the account by paying my card bill, then I transfer the same amount from another bank to my maxigain account(within mins), Will my lowest amount for the month still be taken as the amount after the transfer out?

As long as you do it before 23:59:59 on the same day is fine. The amount at the end of the day is the that is counted..
 

heng_ah

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As long as you do it before 23:59:59 on the same day is fine. The amount at the end of the day is the that is counted..

No. Not quite true.
Some banks can have cut - off time earlier, as early as 10pm.
 
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rottingapple

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A question

Let say you already have an existing CMS account, with 50k, already reached counter 12
And you have a spare 50k to invest in
Would you
A) Put in the 50k into that existing account?
B) Open a new CMS account?(Not sure whether it is possible though)

Things to consider
SDIC only insured up to S$50,000 per account

Any advise ? :o
I just dump all my money >50k into CMS, joint acc with my Mum. I heard 2 persons means 50k x 2 insured if its joint. Not sure if its true.
 

bluedolphin30

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As long as you do it before 23:59:59 on the same day is fine. The amount at the end of the day is the that is counted..

Thanks alot for answering! At least I know it's not 100% my counter will become 0. T_T coz from the t&c they mentioned tt the lowest balance will be take at "any point in time" the account is the lowest for tt mth....
 
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