DBS changed its Mutiplier plan

[reddevil0728]

surprised you didn't know that it's available in the mobile app all these while.

it'll show something like XXX Fund - (#/12).

same for insurance, also (#/12).

on the mobile app? I think website one don’t have

 

[reddevil0728]

that's strange. only some of us can see?

DBS digibank > Deposits > DBS Multiplier Account > Eligible Transactions > Investment / Insurance

did you click the downward arrow (v) on the right side of the screen? it'll expand to show you the specific product and the sequence (#/12).

Internet don’t have seems like only mobile

 

[maumu]

Internet don’t have seems like only mobile

yes on mobile... nowadays seldom use internet banking since almost anything can be done via mobile banking haha.

 

[reddevil0728]

yes on mobile... nowadays seldom use internet banking since almost anything can be done via mobile banking haha.

Can’t see RSP eadvice via the app

 

[demoforce1]

yes on mobile... nowadays seldom use internet banking since almost anything can be done via mobile banking haha.

yes, I can see from mobile, thank you

 

[sky00sky]

Found it thnx..

 

[MrAppleCrumble]

Guys I just wanna ask. Should I cancel it on 11/12 so I can change to another fund to get my investment catoegry being met? Or cancel on the 12/12 month? Cause it needs time right to take effect

 

[maumu]

Guys I just wanna ask. Should I cancel it on 11/12 so I can change to another fund to get my investment catoegry being met? Or cancel on the 12/12 month? Cause it needs time right to take effect

if i'm not wrong, you should only cancel on first day of following month which shows 12/12.

say the 12th deduction took place on 15th March, one should cancel on 1st April. the app will show 12/12 by 31st March.

this will avoid the situation where you cancel too early (in same month as 12th deduction) and the system did not manage to reflect the 12th deduction.

 

[Squaredot]

a mistake I made so thought of sharing.

RSP deducted on 15 Jan and I cancelled my monthly RSP on 20 Jan.

It was not registered as a "Investment" category thus I called up DBS. I was told I should not have cancelled until it was registered on the system.

I think CSO salah lah. Since your RSP already deducted on 15 Jan, why is it not recognised for higher interest? Backroom can do some adjustment even when it is not reflected in B&E summary imho.


Btw, for switching to POSB Cashback Programme, we do the switch after Multiplier Jan Bonus interest credited on 8 Feb and set up a new RSP before 15 Feb deduction. Correct?

 

[yiron]

I think CSO salah lah. Since your RSP already deducted on 15 Jan, why is it not recognised for higher interest? Backroom can do some adjustment even when it is not reflected in B&E summary imho.


Btw, for switching to POSB Cashback Programme, we do the switch after Multiplier Jan Bonus interest credited on 8 Feb and set up a new RSP before 15 Feb deduction. Correct?

I also think CSO salah. As long as got deducted for RSP, it should count for that month even if you cancel the RSP thereafter.

 

[maumu]

I think CSO salah lah. Since your RSP already deducted on 15 Jan, why is it not recognised for higher interest? Backroom can do some adjustment even when it is not reflected in B&E summary imho.


Btw, for switching to POSB Cashback Programme, we do the switch after Multiplier Jan Bonus interest credited on 8 Feb and set up a new RSP before 15 Feb deduction. Correct?

I also think CSO salah. As long as got deducted for RSP, it should count for that month even if you cancel the RSP thereafter.

I think there's this important point to take note of, from their FAQ:

Q8) My DBS Invest-Saver contribution is not recognised for the month. Why is that so?
Inclusion of the monthly contributions as eligible transactions will cease from the month where there is any failed deduction, or the DBS Invest-Saver is terminated.

i'm not sure if it applies to RSP but well, I think to be safe it is better to terminate only at the start of the following month.

 

[reddevil0728]

if i'm not wrong, you should only cancel on first day of following month which shows 12/12.

say the 12th deduction took place on 15th March, one should cancel on 1st April. the app will show 12/12 by 31st March.

this will avoid the situation where you cancel too early (in same month as 12th deduction) and the system did not manage to reflect the 12th deduction.

To be safe, after the preferential interest payment. U will still have sufficient time to cancel and switch

 

[maumu]

To be safe, after the preferential interest payment. U will still have sufficient time to cancel and switch

that is not only "safe" but kiasi-safe lol!

 

[MrAppleCrumble]

To be safe, after the preferential interest payment. U will still have sufficient time to cancel and switch

Ok that means the next month get int Liao around 7th than cancel

 

[reddevil0728]

Ok that means the next month get int Liao around 7th than cancel

U will see the interest on the 8th

 

[silverbomb]

i just switched to cashback scheme now for a few days now. the bank & earn is now changed from multiplier to cashback bonus. but all the categories tracker are showing zero for days.

think i saw this being discussed but just to confirm that for the first mth after converting to cashback bonus, the tracker will show zero but subsequent mths going fwd will be accurate and showing the correct spendings on the tracker?

 

[Trazora]

i just switched to cashback scheme now for a few days now. the bank & earn is now changed from multiplier to cashback bonus. but all the categories tracker are showing zero for days.

think i saw this being discussed but just to confirm that for the first mth after converting to cashback bonus, the tracker will show zero but subsequent mths going fwd will be accurate and showing the correct spendings on the tracker?

need to clock min 3 categories before anything show on tracker

 

[limpoop]

U will see the interest on the 8th

My "Preferential rate based on total monthly transactions" dropped 40% for last month with double Eligible Monthly Transactions, time to move on

 

[reddevil0728]

My "Preferential rate based on total monthly transactions" dropped 40% for last month with double Eligible Monthly Transactions, time to move on

Is it unexpected? Don’t you know they cut rate?

 

[maumu]

My "Preferential rate based on total monthly transactions" dropped 40% for last month with double Eligible Monthly Transactions, time to move on

yes.. time to move on to Singlife (1.5% for first $10k, 1% > $10k).

unless you can clock 3 categories - otherwise it's really not worth staying with Multiplier.