DBS changed its Mutiplier plan

[len555]

For invest saver, it's recognized only for the first 12 months per fund for the investment cat. So I just reached that for ABF, so I setup one of the Nikko also early this Jan. I don't need to close the ABF right, since I open a new one this one should qualify alright?

 

[reddevil0728]

For invest saver, it's recognized only for the first 12 months per fund for the investment cat. So I just reached that for ABF, so I setup one of the Nikko also early this Jan. I don't need to close the ABF right, since I open a new one this one should qualify alright?

Don’t need if your wish to continue to invest in ABF.

If you want to reuse ABF again after 12 months, you need to cancel it and redeem at least 6 months before setting it up again

 

[Squaredot]

Out of the blue, received confirmation of RSP by snail mail

 

[iadpotato]

Out of the blue, received confirmation of RSP by snail mail

Me too, even though my eAdvice is active... waste paper.... maybe system glitch

Posted on my Graphite iPhone 12 Pro Max with the HardwareZone Forums app

 

[maumu]

Me too, even though my eAdvice is active... waste paper.... maybe system glitch

Posted on my Graphite iPhone 12 Pro Max with the HardwareZone Forums app

i'm not sure if their system is reliable. I didn't get the eAdvice for one of my funds' dividend reinvestment which I usually get on 3rd or 4th of month.

it's already 21st today.

thankfully I have been tracking the number of units I have and tallied to ensure that the reinvestment was done and units were added to my existing amount.

 

[ABuNeNe]

can I confirm if the interest above $100k is 0.05%?

 

[reddevil0728]

can I confirm if the interest above $100k is 0.05%?

Yep........

 

[LeCruizer7]

Out of the blue, received confirmation of RSP by snail mail

You know how to opt out of snail mail? I want to receive electronically but cannot find the option leh.

 

[reddevil0728]

You know how to opt out of snail mail? I want to receive electronically but cannot find the option leh.

The monthly statement like cannot.

But the subscription statement can.

 

[MrAppleCrumble]

Yep........

Oh means even if u got $200k. Only the first $100k qualifies for multiplier bonus. The rest is 0.05% ah? Always thought it’s the rest can accumulate lol

 

[reddevil0728]

Oh means even if u got $200k. Only the first $100k qualifies for multiplier bonus. The rest is 0.05% ah? Always thought it’s the rest can accumulate lol

eh yes. always been the case.

 

[yiron]

PSA - those who start doing RSP in Feb 2020 to clock the investment category, it's time to start a new ticker since Jan 2021 is the last month of the 12 months eligibility.

Set up RSP for the new ticker (A35/MBH relatively lower risk) before 15 Feb so that it deducts on 15 Feb and clocks the investment category.

 

[len555]

PSA - those who start doing RSP in Feb 2020 to clock the investment category, it's time to start a new ticker since Jan 2021 is the last month of the 12 months eligibility.

Set up RSP for the new ticker (A35/MBH relatively lower risk) before 15 Feb so that it deducts on 15 Feb and clocks the investment category.

Yep, did mine early. Are you guys closing your old one? (my old one ABF is on negative but then there's that Jan dividend payout so its ok)

 

[yiron]

Yep, did mine early. Are you guys closing your old one? (my old one ABF is on negative but then there's that Jan dividend payout so its ok)

Yup will close the old one after the new one is up.

 

[vsvs24]

If I buy shares using Vickers today, should be in time to be clocked in for Jan right ?

 

[reddevil0728]

If I buy shares using Vickers today, should be in time to be clocked in for Jan right ?

Need to settle by 31. Pushing it but maybe can.

If need b&w, go chat with dbs via their live chat on ibanking then screenshot

 

[vsvs24]

Need to settle by 31. Pushing it but maybe can.

If need b&w, go chat with dbs via their live chat on ibanking then screenshot

Thanks. Going to use cash upfront.

 

[Depressed_dude]

Noob qn.

I’m currently on POSB savings account (with an active rsp: nikko am). If I switch to multiplier what will happen?

And will the account number be different? Will affect all my giro arrangements?

 

[TsukiSG]

Noob qn.

I’m currently on POSB savings account (with an active rsp: nikko am). If I switch to multiplier what will happen?

And will the account number be different? Will affect all my giro arrangements?

Depends how you change.

If change by Switch Bank & Earn Programme, a new Multiplier account will be opened.

If change by DBS Account Conversion, your account will be converted to Multiplier. Account number and GIRO not affected.

Edit: Not sure whether your current account is eligible for conversion, you can check on iBanking https://www.dbs.com.sg/personal/support/bank-deposit-autosave-conversion.html

No matter how you change, you need to subscribe to new RSP to be count as 1 category.

 

[cassowary18]

Noob qn.

I’m currently on POSB savings account (with an active rsp: nikko am). If I switch to multiplier what will happen?

And will the account number be different? Will affect all my giro arrangements?

Account number will be different, unless your account is My Account. GIRO arrangements have to change. Of course you can keep the original POSB savings account open and use Multiplier as a savings account. Current RSP will not count towards investment category for Multiplier (must be started after Multiplier account open)