UOB high yield account.

[cybercom8]

no problem as u r not drawing out physical cash, just need to fill up a cash withdrawal and deposit slip, my colleague has 7 digit and he did it without any hassle

all the branches will have a monthly kpi target of 4M fresh funds, so in exchange for the tedious process they will convince u to setup a new HY acct under their branch code

thanks, looks like my last month's 1.33% should be withdrawn too to sign up for this month's 1.45%

 

[zoossh]

no 2 single..high yield acct doesnt need any min balance..u keep as zero no prob

2 single both under your name?

 

[sebastgt]

no 2 single..high yield acct doesnt need any min balance..u keep as zero no prob

Can anybody open a HY account? need to be a Priviledge customer first or need to bring in large some of money?

 

[wts2013]

Can anybody open a HY account? need to be a Priviledge customer first or need to bring in large some of money?

it is stated in tnc

New Accountholders must deposit a minimum Fresh Funds of S$350,000 to qualify for this Promotion.

 

[cscs3]

Can anybody open a HY account? need to be a Priviledge customer first or need to bring in large some of money?

350K and yes - privilede banking. Those who say can draw cash and deposit into another HY account will get the bank teller in trouble. It is not allow. See tnc.

 

[arctician]

thanks, looks like my last month's 1.33% should be withdrawn too to sign up for this month's 1.45%

u should, i did it on 30th sep, the additional 0.12% interest is significant if ur quantum is huge, every month few hundred more

2 single both under your name?

bro i siad many times, yes both SINGLE account under my SINGLE name, but not every branch will do it for you

350K and yes - privilede banking. Those who say can draw cash and deposit into another HY account will get the bank teller in trouble. It is not allow. See tnc.

banks are flexible la, the teller wont be e one approving as they need to seek mgmt consent. like i said many times i did it successfully since may and recv interest every month without fail. why doubt someone who has did it multiple times, unless u think i am bshitting

 

[highsulphur]

Arctician I went to check the branch and they said that the new account will be stand alone so I need to maintain a separate 350k for it. Is it true?

 

[zoossh]

Arctician I went to check the branch and they said that the new account will be stand alone so I need to maintain a separate 350k for it. Is it true?

to my knowledge, if u had no previous high yield account just before this promotion, u r new. u need 350k to start. u need to maintain daily end-of-day balance of 350k, any day that fall below 350k, the interest for that day drop to 0.1% pa, but if subsequent days u had it above 350k, the daily interest goes back to 1.45% pa.

apparently these things are so confusing that different bank staff tell me different story, plus tnc is not very specific, so i got to reclarify 2-3 times with the more senior staff.

artician kor kor, correct boh?

 

[sophie.wee.weng]

What if I withdraw and leave $1 inside after 1, 3 or 6 months? Any penalty?

 

[zoossh]

What if I withdraw and leave $1 inside after 1, 3 or 6 months? Any penalty?

the rates only lasts 3 months starting from account opening date (dated by bank). if u put in 350k for 10 days, u get 1.45% per annum for 10 days, rest of the days 0.1% of $1 per day.

 

[arctician]

Arctician I went to check the branch and they said that the new account will be stand alone so I need to maintain a separate 350k for it. Is it true?

no its not true, depends on the quantum of funds u have in your old high yield account, i went to 2 branches in west and they allow me to setup a new HY account under their branch code on the condition that i route everything from my old HY to the new HY to help achieve their KPI

Generally anyone can setup a new HY account n rout the funds from old HY over..but bank has e final say of coz

to my knowledge, if u had no previous high yield account just before this promotion, u r new. u need 350k to start. u need to maintain daily end-of-day balance of 350k, any day that fall below 350k, the interest for that day drop to 0.1% pa, but if subsequent days u had it above 350k, the daily interest goes back to 1.45% pa.

apparently these things are so confusing that different bank staff tell me different story, plus tnc is not very specific, so i got to reclarify 2-3 times with the more senior staff.

artician kor kor, correct boh?

first part is correct, but second part i don find it confusing leh..basically u just open a high yield account, sign the promotion form, route in 350k and you get 1.5% pA for next 3 months..when e 3 month is up just route it to another high yield and play merry go round..i have been doing it since may and i find it very simple actually

What if I withdraw and leave $1 inside after 1, 3 or 6 months? Any penalty?

high yield no min balance or fall below fee

 

[zoossh]

first part is correct, but second part i don find it confusing leh..basically u just open a high yield account, sign the promotion form, route in 350k and you get 1.5% pA for next 3 months..when e 3 month is up just route it to another high yield and play merry go round..i have been doing it since may and i find it very simple actually

well, some of the bank staff who are not familiar with the terms are confused.

nonetheless, u probably met with the right people at the right time, and i probably keep meeting not the right people at a less than appropriate timing.

i can open an account under my parents name at the next promotion period, hence i didnt pursue your way. currently it is plain and simple under my own name.

well, i guess uob aint hungry for my business. some of them cant even be bothered to explain the terms and brush my queries off.

 

[cybercom8]

no problem as u r not drawing out physical cash, just need to fill up a cash withdrawal and deposit slip, my colleague has 7 digit and he did it without any hassle

all the branches will have a monthly kpi target of 4M fresh funds, so in exchange for the tedious process they will convince u to setup a new HY acct under their branch code

can please share which branch did it for your friend? i told my friend your story and she went to the branch to open another hya account to transfer her funds over and they rejected her...even after she explained that others have done the same thing at other uob branches, the staff told her 1M+ cash withdrawal is very hard to explain and hide from hq staff

so she withdrew eveything in cashier's order and went over to scb to deposit in her esaver and the scb staff told her max amt for promo is $1M she now very dulan me for giving her wrong info

 

[arctician]

can please share which branch did it for your friend? i told my friend your story and she went to the branch to open another hya account to transfer her funds over and they rejected her...even after she explained that others have done the same thing at other uob branches, the staff told her 1M+ cash withdrawal is very hard to explain and hide from hq staff

so she withdrew eveything in cashier's order and went over to scb to deposit in her esaver and the scb staff told her max amt for promo is $1M she now very dulan me for giving her wrong info

haha just to show i m not spinning story, i have 4 hy acct..i set it up at jem or bukit batok branch, both branches r willing to setup a new single HY acct for me so i m not sure why ur fren cant

n i wont recommend u to issue cashier order if amt >1M, once a CO is issued the amt is deducted from ur balance n u will lose out on ur daily interest, imagine if it takes 2 day to clear when u route from uob to scb n similar period when u bring back e funds...e interest loss for 1M is significant..not to mention it get worst over the weekend..i always insist on cash for merry go round

 

[zoossh]

i lost $50+ of interest cos i miscalculated the degree of loss.

i brought in cash on sat but they cannot cash in on sat. moi ish jin sian. i could have cash back to another bank but then not free on mon/tues to return and cash in again.

boh bian, not as smart as artician

 

[cybercom8]

haha just to show i m not spinning story, i have 4 hy acct..i set it up at jem or bukit batok branch, both branches r willing to setup a new single HY acct for me so i m not sure why ur fren cant

n i wont recommend u to issue cashier order if amt >1M, once a CO is issued the amt is deducted from ur balance n u will lose out on ur daily interest, imagine if it takes 2 day to clear when u route from uob to scb n similar period when u bring back e funds...e interest loss for 1M is significant..not to mention it get worst over the weekend..i always insist on cash for merry go round

i believed you lah...just wanted to know the branch...this is like singtel telling customers no more vouchers liao but everyone getting it left right centre

apparently the reason the uob branch gave is that its not easy to explain a $1M+ cash withdrawal using your method...anyway, the transfer took 1 day, next day the balance is available at scb but in 2 accounts due to the $1M max promotion.

now she's thinking whether to go through the hassle of transferring back to uob probably about $200+ difference only each month

 

[arctician]

i lost $50+ of interest cos i miscalculated the degree of loss.

i brought in cash on sat but they cannot cash in on sat. moi ish jin sian. i could have cash back to another bank but then not free on mon/tues to return and cash in again.

boh bian, not as smart as artician

it happens la..i made this mistake before n i never gg to let it happen twice

i believed you lah...just wanted to know the branch...this is like singtel telling customers no more vouchers liao but everyone getting it left right centre

apparently the reason the uob branch gave is that its not easy to explain a $1M+ cash withdrawal using your method...anyway, the transfer took 1 day, next day the balance is available at scb but in 2 accounts due to the $1M max promotion.

now she's thinking whether to go through the hassle of transferring back to uob probably about $200+ difference only each month

i will transfer back to uob la..because scb promo only run for 2 months while uob hy last for 3 month..n 1.5% is still higher than esavers

the branch manager also feedback same concern for HQ, but she counter proposed and said if i setup a new account under my name with their JEM branch code, she will do a cash withdrawal on 'exceptional' basis..so next time if they reject u just say u wan setup a new HY account under their branch code..KPI can be magical

 

[zoossh]

exceptional basis probably is over liao.

dun everyone set under their branch code if they open account at that branch?

 

[arctician]

exceptional basis probably is over liao.

dun everyone set under their branch code if they open account at that branch?

i think still valid leh, e counter staff told me one person can have many many HY accounts

my old hy was tagged to somerset, n UOB JEM branch was newly established so i guessed there are more aggresive in chasing funds

 

[yoosica]

no problem as u r not drawing out physical cash, just need to fill up a cash withdrawal and deposit slip, my colleague has 7 digit and he did it without any hassle

all the branches will have a monthly kpi target of 4M fresh funds, so in exchange for the tedious process they will convince u to setup a new HY acct under their branch code

Wtf ur colleague 7 digit? He JFK ah