DBS changed its Mutiplier plan

assiak71

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iBanking bill payment :s11::s11: is not cc spending...so its definitely the reason why you didnt get any interest
Pay using cc of course

So can i conclude ibanking bill payment by cc is not counted? Or call dbs to check

Does multiplier have statement details like how much qualifying spend you made similar to uob one acc?
 

yiwei

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Pay using cc of course

So can i conclude ibanking bill payment by cc is not counted? Or call dbs to check

Does multiplier have statement details like how much qualifying spend you made similar to uob one acc?

yes if you have consolidated statements, but there is a delay of 1 month, so for Feb statement detail you can only see in the Mar statement.
 

hwmook

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Pay using cc of course

So can i conclude ibanking bill payment by cc is not counted? Or call dbs to check

Does multiplier have statement details like how much qualifying spend you made similar to uob one acc?

Bill payment using DBS ibanking is not considered "retail" spending and won't earn you bonus interest.
 

whizzard

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Love this account.

Allows (not a loophole) my salary that is credited into our joint DBS account and the joint mortgage installments to be counted twice for both my own Multiplier and my wife’s (who is not a salaried employee) Multiplier account. Effectively, she just needs to spend $1 on her own DBS credit card and she gets all the eligible credits that I get for the bonus interest calculation.

Hence, we get bonus interest on $100k ($50k x 2) instead of just $50k.
 

blue_denim24

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I have a question. I currently hold DBS multiplier account where my salary gets credited monthly (not the joint account). I do have a joint account with my wife which is a regular savings account, where I transfer some money for our monthly family expenses. My wife does not earn currently. So if my wife opens her multiplier account, will she also be eligible for extra bonus interest on her multiplier balance? I do understand that there a second category requirement which will be required for her case but that can be easily be met by purchasing a $100 Bond fund per month.

Love this account.

Allows (not a loophole) my salary that is credited into our joint DBS account and the joint mortgage installments to be counted twice for both my own Multiplier and my wife’s (who is not a salaried employee) Multiplier account. Effectively, she just needs to spend $1 on her own DBS credit card and she gets all the eligible credits that I get for the bonus interest calculation.

Hence, we get bonus interest on $100k ($50k x 2) instead of just $50k.
 
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blue_denim24

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Buying A35 via posb investsaver RSP ticks your investment category for multiplier account . Tried and tested.

Dividends from bonds when credited into posb account will count as investment not ah? I have a posb and also multiplier account under my name.

Buying bonds from multiplier account will not count as investment right?
 

whizzard

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I have a question. I currently hold DBS multiplier account where my salary gets credited monthly (not the joint account). I do have a joint account with my wife which is a regular savings account, where I transfer some money for our monthly family expenses. My wife does not earn currently. So if my wife opens her multiplier account, will she also be eligible for extra bonus interest on her multiplier balance? I do understand that there a second category requirement which will be required for her case but that can be easily be met by purchasing a $100 Bond fund per month.

Cannot. In order for her to be accorded “eligible credits”, the transaction must be from/into a joint account. So, you need to shift your salary crediting into your joint savings account for her to be accorded your salary “credits”.

You can then auto GIRO out a fixed amount of your balance salary each month into your multiplier account should you prefer to do so.
 
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blue_denim24

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Got it . Thanks for your response.

Cannot. In order for her to be accorded “eligible credits”, the transaction must be from/into a joint account. So, you need to shift your salary crediting into your joint savings account for her to be accorded your salary “credits”.

You can then auto GIRO out a fixed amount of your balance salary each month into your multiplier account should you prefer to do so.
 
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