DBS changed its Mutiplier plan

[Calthron]

Thanks. This seem workable...something I am planning with my wifey. She has no Multiplier Acc.

 

[heaveboy]

Hello everyone,

Can we link the any DBS or POSB credit card to the multiple account and have that transact in its local currency? Or is it only with the DBS debit card?

 

[Trazora]

Hello everyone,

Can we link the any DBS or POSB credit card to the multiple account and have that transact in its local currency? Or is it only with the DBS debit card?

You mean using multiplier account for overseas spend without transaction fee? Must use dbs visa debit card for that

 

[hlw8888]

may i know how to activate the posb everyday credit card ez-link function ah? also, is ez-link EZ-reload count as credit card spending in multiplier acct?

lastly, anyone here link this credit card as atm card too?

 

[RocketAbyss]

may i know how to activate the posb everyday credit card ez-link function ah? also, is ez-link EZ-reload count as credit card spending in multiplier acct?

lastly, anyone here link this credit card as atm card too?

Your EZ link should be activated from the start, no need additional steps to activate Ezlink(unless youre talking about ez-reload).

EZ-reload spend will be counted as a credit card spend transaction for the multiplier category, but won't be counted for any rebates(unless the everyday card states that there is ezlink related rebates).

You can link your everyday card as atm if you want to if you want to declutter your wallet. Your personal preference. You can manage within ibanking app

 

[hlw8888]

Your EZ link should be activated from the start, no need additional steps to activate Ezlink(unless youre talking about ez-reload).

EZ-reload spend will be counted as a credit card spend transaction for the multiplier category, but won't be counted for any rebates(unless the everyday card states that there is ezlink related rebates).

You can link your everyday card as atm if you want to if you want to declutter your wallet. Your personal preference. You can manage within ibanking app

thks for the info.

but wat do u mean by "won't be counted for any rebates"? this part i abit blur.

 

[RocketAbyss]

thks for the info.

but wat do u mean by "won't be counted for any rebates"? this part i abit blur.

Most cards exclude spending on Ezlink(auto top up or manual) to be counted into the rebates.

So for example, you spent 50 dollars for Ezlink, and another 450 dollars on eligible spend for rebate (like groceries or petrol for the Everyday POSB). Your total spend might be 500 dollars, but you only get rebates on the 450, because the rebate calculation excluded the 50 dollars for ezlink.

 

[hlw8888]

Most cards exclude spending on Ezlink(auto top up or manual) to be counted into the rebates.

So for example, you spent 50 dollars for Ezlink, and another 450 dollars on eligible spend for rebate (like groceries or petrol for the Everyday POSB). Your total spend might be 500 dollars, but you only get rebates on the 450, because the rebate calculation excluded the 50 dollars for ezlink.

oic... thks.

 

[shin89]

Anyone can advise when do they count the salary?
Might got credited yesterday but doesnt show on the "Bank and Earn Summary" page.

 

[shpesft]

It usually takes 2-3 working days for it to be reflected. My payday is usually on the 25th. It will appear usually on the 27th or 28th.

Anyone can advise when do they count the salary?
Might got credited yesterday but doesnt show on the "Bank and Earn Summary" page.

 

[shin89]

It usually takes 2-3 working days for it to be reflected. My payday is usually on the 25th. It will appear usually on the 27th or 28th.

Thanks! My pay usually 25th as well.

 

[workedmw]

my salary got credited as GR... means i wont get interest?

 

[Squaredot]

my salary got credited as GR... means i wont get interest?

I Cut & Paste from FAQ:
Check if your salary is credited through GIRO, with transaction reference codes of either ‘SAL’ or ‘PAY’. The main description in your Statement of Account will be “Salary” or “GIRO Salary”.

 

[theMKR]

question. if my posb savings acct has less than 500 every mth

but my other accounts total divided down average more than 3k will my multi currency or saving accts incur the -$2 per mth cost?

 

[a4973]

I Cut & Paste from FAQ:
Check if your salary is credited through GIRO, with transaction reference codes of either ‘SAL’ or ‘PAY’. The main description in your Statement of Account will be “Salary” or “GIRO Salary”.

further to the above, this is what i have found.
https://www.posb.com.sg/personal/support/bank-account-transaction-codes.html
click on [G]
GR / GRO = Payments / Collections via GIRO

 

[shpesft]

Under transaction code, “GR” just means Giro transaction. If the transaction was tagged as Pay or Salary by your company, it will be considered as Salary credit. Don’t think we can see this tag from ibanking. Not sure if calling the CSO will be able to check for you.

FYI, my pay has the GR code as well and the description of “Pay XXX Pte Ltd”.

my salary got credited as GR... means i wont get interest?

 

[Grafspee]

Hello

I have an issue with DBS Multiplier Acct.
My Salary is credited every months (13,750 SGD) and I have investment of about 2,000 SGD per month (Unit Trust with DBS) and abt 1,000 SGD per month on eMySaving Acct.
However I get only few cents of interest each month (not even 1 SGD)
I do not understand what i'm doing wrong.
Thanks in advance for your help
Regards

 

[greenpenguin]

Did you put money into the multiplier account and not your normal posb bank?

Hello

I have an issue with DBS Multiplier Acct.
My Salary is credited every months (13,750 SGD) and I have investment of about 2,000 SGD per month (Unit Trust with DBS) and abt 1,000 SGD per month on eMySaving Acct.
However I get only few cents of interest each month (not even 1 SGD)
I do not understand what i'm doing wrong.
Thanks in advance for your help
Regards

 

[Grafspee]

Did you put money into the multiplier account and not your normal posb bank?

Hello

Yes salary is credited directly to my DBS Multiplier Acct.
Most of the funds are on this acct.

 

[sgreview]

Hello

I have an issue with DBS Multiplier Acct.
My Salary is credited every months (13,750 SGD) and I have investment of about 2,000 SGD per month (Unit Trust with DBS) and abt 1,000 SGD per month on eMySaving Acct.
However I get only few cents of interest each month (not even 1 SGD)
I do not understand what i'm doing wrong.
Thanks in advance for your help
Regards

Firstly, are u certain u have opened a DBS Multiplier Acct?
Secondly, the Multiplier is a separate acct from your other saving acct, so if your salary is credited to your saving acct, u need to transfer money into your Multiplier Acct to earn the interest.