Lastest S$ Deposit updates - Part 3

[highsulphur]

Hi all,

Not too sure if i am seeing the figues correctly but won't savings accounts (linked with salary credit, card spend, etc) earn more since its calculated as monthly interest instead?


Cheers,

Jeremy

Probably but there is always a cap on the amount

 

[yukita]

Probably but there is always a cap on the amount

not to mention, there are efforts to fulfill the requirement.

 

[darren25]

Any thoughts on Citigold relationship? The Citi Prestige look good. Get 600 with credits salary, GIRO personal income tax or Telco bill monthly with Citi and maintains a balance of S$250,000.

 

[pinpinpin]

Any thoughts on Citigold relationship? The Citi Prestige look good. Get 600 with credits salary, GIRO personal income tax or Telco bill monthly with Citi and maintains a balance of S$250,000.

Even better if ur do investments with them.

Giving out 1.1mil Miles when you do investment with them

 

[yellownova]

Anyone deposited into CIMB fixed deposit before? These are the T&Cs for fresh funds:

> “Fresh Funds” refers to funds in the form of non-CIMB Bank cheques, cashier’s orders or demand drafts as well
as all other funds that are not transferred from any CIMB Bank accounts.

> The Fresh Funds criteria does not apply for placements made via CIMB Clicks Internet Banking or via the online
application form on CIMB’s website.

Does it mean if I FAST transfer from another bank it will be considered as fresh?

 

[lnrccn]

Anyone deposited into CIMB fixed deposit before? These are the T&Cs for fresh funds:

> “Fresh Funds” refers to funds in the form of non-CIMB Bank cheques, cashier’s orders or demand drafts as well
as all other funds that are not transferred from any CIMB Bank accounts.

> The Fresh Funds criteria does not apply for placements made via CIMB Clicks Internet Banking or via the online
application form on CIMB’s website.

Does it mean if I FAST transfer from another bank it will be considered as fresh?

yes, consider.

 

[yellownova]

yes, consider.

Thanks! I tried it and it is considered.

 

[vegavega25]

How does one move foreign exchange funds between personal accounts in different banks?

If I have a DBS eMCA account with US$ in it and a Citibank or SCB or even CIMB US-denominated account, how do I move funds in the foreign currency, without any conversion to S$, between the two?

I am guessing the bank knows which of its own account offers a forex wallet or is a forex-denominated account, so internal transfers would be easy, for example within DBS etc. But between banks?

 

[highsulphur]

How does one move foreign exchange funds between personal accounts in different banks?

If I have a DBS eMCA account with US$ in it and a Citibank or SCB or even CIMB US-denominated account, how do I move funds in the foreign currency, without any conversion to S$, between the two?

I am guessing the bank knows which of its own account offers a forex wallet or is a forex-denominated account, so internal transfers would be easy, for example within DBS etc. But between banks?

open US$ checking accounts with the singapore banks.

 

[vegavega25]

open US$ checking accounts with the singapore banks.

Meaning these MCA-type accounts (DBS/BOC are two that I know) cannot be used to transfer the foreign currency to another account in Singapore? Let's assume we're talking about US$. So US$ can come in (via wire transfers from abroad), can be retained as US$, but can only ever be sent back abroad as US$? What if I want to move US$ from DBS to BOC as US$?

 

[highsulphur]

Meaning these MCA-type accounts (DBS/BOC are two that I know) cannot be used to transfer the foreign currency to another account in Singapore? Let's assume we're talking about US$. So US$ can come in (via wire transfers from abroad), can be retained as US$, but can only ever be sent back abroad as US$? What if I want to move US$ from DBS to BOC as US$?

Cheapest way is to write a cheque to yourself from DBS to boc. Otherwise just pay the transfer fee

 

[K202020K]

Cheapest way is to write a cheque to yourself from DBS to boc. Otherwise just pay the transfer fee

Withdraw in cold, hard cash and deposit the USD cash at your designated bank's USD account should be workable yo.

 

[Newmaxi]

Even better if ur do investments with them.

Giving out 1.1mil Miles when you do investment with them

Sgd600 one off ?

 

[oceanicmanta]

Withdraw in cold, hard cash and deposit the USD cash at your designated bank's USD account should be workable yo.

most banks in SG levy a fee 1.5%? to withdraw & another fee to deposit foreign currency cash/notes ... some priority status may waive out of goodwill

if u can accept the 1.5% fee to withdraw, better to take the cash & change at money changer

some banks even charge to issue/clear USD cheques / cashier's order eg HSBC

 

[Mr.Canberra]

Singapore Life Endowment Plan 2.38% (5 Years)

Singapore Life Endowment Plan

2.25% for 3 Year Term
2.38% for 5 Year Term

Guaranteed returns.

https://singlife.com/endowment/

https://faq.singlife.com/hc/en-sg/articles/115005577569-About-Singapore-Life

Singapore Life has started operation since June 2017.

Relatively new company so I guess they have to offer very competitive rates to capture market share. Competition is good for consumers. SSB yields really cannot make it as the months go by.

Confirm will have ignorant jokers ask "safe or not?". Just like they also asked Ah Neh or Ah Tiong banks safe or not?

Disclaimer: I am not a salesman. Just sharing straight forward, no gimmicks deal here. Share here if you have good deals (no complicated gimmicks) by banks or insurance companies.

 

[highsulphur]

Seriously just open the damn usd checking account with your local banks. What's so difficult about it?

 

[vegavega25]

Seriously just open the damn usd checking account with your local banks. What's so difficult about it?

Which is the DBS version of this USD checking account? The US$'s are already sitting in DBS. I want to move them out as US$.

 

[pinpinpin]

Seriously just open the damn usd checking account with your local banks. What's so difficult about it?

it's the fee ppl dw to pay.

 

[K202020K]

it's the fee ppl dw to pay.

The EXORBITANT FEES that people don't wanna pay for a simple, easy transaction which is FREE for SGD accounts.

 

[oho]

Sing Finance and investment offering 1.95% for 50k and above, 1 year tenure. Not on webpage. Call them