DBS changed its Mutiplier plan

[highsulphur]

No TT, transfer to IB.

You mean transferring usd from dbs to IB? Which did you choose? Bank wire or pay bill online?

 

[reddevil0728]

You mean transferring usd from dbs to IB? Which did you choose? Bank wire or pay bill online?

Use bank wire

 

[highsulphur]

Thanks guys.

 

[reddevil0728]

Thanks guys.

Suggest always transfer a nominal value first to make sure u do no wrong then transfer more.

Dbs remit got cut-off time for same day transfer to us I think is evening check the dbs remit website

And usd usually will take longer than sgd

 

[highsulphur]

Suggest always transfer a nominal value first to make sure u do no wrong then transfer more.

Dbs remit got cut-off time for same day transfer to us I think is evening check the dbs remit website

And usd usually will take longer than sgd

Just did it this morning before seeing your post. Hopefully it goes through

How many days would it take?

 

[TsukiSG]

Anyone trying to change Multiplier program to POSB Cashback program?

If I change today, it will take effect immediately or start from next month?

Also if I currently subscribe to a RSP for 3 months, after I change to POSB Cashback program, I need to subscribe a new one to be qualified correct?

 

[eyz]

I just signed up today and encountered no error msg.

but it will only qualify next month.

anyone tried to sign up to the cancercare recently? i am just getting a weird error msg now when i try to sign up online

 

[tytyty333]

DBS Multiplier Account
Interest rates effective 1 January 2021


5000~15000, 2 categories, reduce from 1.80% p.a to 0.80% p.a.


Consider move to other banks. Any recommend?

 

[fr33d0m]

DBS Multiplier Account
Interest rates effective 1 January 2021


5000~15000, 2 categories, reduce from 1.80% p.a to 0.80% p.a.


Consider move to other banks. Any recommend?

Bank of China SmartSaver

 

[reddevil0728]

Just did it this morning before seeing your post. Hopefully it goes through

How many days would it take?

wouldn't say days but hours. if u do it before cut-off. if after cut-off should be next working day.

 

[TiedInsurer]

What the ****. Nerf again. And this time nerf by so much. I'm just gonna move all my cash to Singlife. Singlife gives 1% interest fuss free.

Or anyone have beeter recommendation? No China banks, because those guys have atrcious service quality.

 

[McFadden]

how come singlife can give so good rates?

 

[reddevil0728]

What the ****. Nerf again. And this time nerf by so much. I'm just gonna move all my cash to Singlife. Singlife gives 1% interest fuss free.

Or anyone have beeter recommendation? No China banks, because those guys have atrcious service quality.

it's expected what. why you angry over something that is expected?

singlife is not bank.

how come singlife can give so good rates?

don't speak too soon leh. maybe come 1 jan, they announce from 1 feb they also decrease.

 

[maumu]

how come singlife can give so good rates?

i assume you're referring to the 2%?

it's only for first 10k...

they can have 10 customers enjoying 2% but with capital of 100k. but to another bank giving 1% with capital 100k they will only have 1 customer.

so in short, good rates but cap at small quantum. that way their customer base will grow faster. this is especially for newcomers trying to grow their reputation.

 

[articland05]

i assume you're referring to the 2%?

it's only for first 10k...

they can have 10 customers enjoying 2% but with capital of 100k. but to another bank giving 1% with capital 100k they will only have 1 customer.

so in short, good rates but cap at small quantum. that way their customer base will grow faster. this is especially for newcomers trying to grow their reputation.

ya. Singlife 10k only.
anything more gotta look elsewhere.

Sent from Motorola Dynatac 8000X using GAGT

 

[reddevil0728]

i assume you're referring to the 2%?

it's only for first 10k...

they can have 10 customers enjoying 2% but with capital of 100k. but to another bank giving 1% with capital 100k they will only have 1 customer.

so in short, good rates but cap at small quantum. that way their customer base will grow faster. this is especially for newcomers trying to grow their reputation.

Just to be more precise.
Singlife is not a bank account.

So is not exactly the most fair comparison to another bank.

But loosely speaking interest is still interest.

 

[RedsYWNA]

Waiting for results of digital banking licences to give these incumbents some gd competition!

 

[TiedInsurer]

it's expected what. why you angry over something that is expected?

singlife is not bank.

It wasn't expected for me. It's already low enough previously... 0.7% to 1.1% for fuss free... have to buy their investment or insurance products to get 1.3% to 1.8%. Now, buy their stupid investment or insurance products, to get a crummy 0.6% to 0.8%? No thanks. I'll just close the account.

Singlife not bank, but is close enough. Money inside is rather liquid.

If really no alternatives, I'll just find a bank account that has no fall below fees, and use it to receive my salary and paynow receipts, then keep the balance at zero. Store all cash in Singlife lol.

 

[reddevil0728]

It wasn't expected for me. It's already low enough previously... 0.7% to 1.1% for fuss free... have to buy their investment or insurance products to get 1.3% to 1.8%. Now, buy their stupid investment or insurance products, to get a crummy 0.6% to 0.8%? No thanks. I'll just close the account.

Singlife not bank, but is close enough. Money inside is rather liquid.

If really no alternatives, I'll just find a bank account that has no fall below fees, and use it to receive my salary and paynow receipts, then keep the balance at zero. Store all cash in Singlife lol.

Then I think u have not been following enough.

Uob and ocbc cut many times. Dbs also. Was expecting dbs to cut already in nov but they waited another month.

Actually I think u can leave $0 in ur account and they can’t charge any fall below fee.

Can’t confirm though. But read some ppl said they didn’t get charged

 

[cassowary18]

Then I think u have not been following enough.

Uob and ocbc cut many times. Dbs also. Was expecting dbs to cut already in nov but they waited another month.

Actually I think u can leave $0 in ur account and they can’t charge any fall below fee.

Can’t confirm though. But read some ppl said they didn’t get charged

Couple of ways to avoid fall below fee:
- Be below 29 years old
- Connect your Multiplier account to Vickers