DBS changed its Mutiplier plan

[Miguelogy]

Hi guys sry for a noob question but does current accounts like DBS Multiplier and OCBC 360 have a passbook?Pls dont laugh at me

 

[vddgnd]

Hi guys sry for a noob question but does current accounts like DBS Multiplier and OCBC 360 have a passbook?Pls dont laugh at me

Both no passbook

 

[Emeraldz]

Does anyone know why my investment is not reflected at my bank and earn summary even though I’m under the interest saver for quite some time.
Must I be new to the plan?

 

[vddgnd]

Does anyone know why my investment is not reflected at my bank and earn summary even though I’m under the interest saver for quite some time.
Must I be new to the plan?

The investment or insurance plan must be signed up after you open the multiplier account.

 

[loftystew]

Anyone know how the interest rate works exactly?

I received an interest with preferential rate on 07 March for credit card spending and salary deposited in February.

Then comes 31 March, I received an interest with normal rate even though I made credit card spending and have my paycheck banked in for March.

What happened to my interest with preferential rate for the month of March?

Is it because I bank transferred away my salary one day after my company deposited my salary into the account?

Is it because I bank transferred away the interests/cash gift I previously received in the multiplier account?

Or... is it that I have to wait till day 7 of each month before the interest with preferential rate is banked into my multiplier account?

This is getting confusing...

Edited: Nevermind. I've got it. It's written in the fine print.

Higher interest rates are applicable to the S$ balance in your DBS Multiplier Account, up to the first S$50,000. Any amount over and above this will be accorded the prevailing interest rate for that month. Higher interest will be credited in 2 parts:

Base interest at our prevailing interest rate, calculated on daily balances will be credited at month end, and

Preferential interest at the preferential interest rate (which is the higher interest rate less the prevailing interest rate) based on the sum of your eligible transactions with us, calculated on daily balances, by the 7th working day of the following month.

 

[WoShiPro]

Made a trade using cash-front account on wed but bank & earn summary (up to date Thursday) is not reflecting my trade..

How long do I need to wait before it will be reflect?

 

[vegavega25]

Made a trade using cash-front account on wed but bank & earn summary (up to date Thursday) is not reflecting my trade..

How long do I need to wait before it will be reflect?

RSP takes about 10-12 calendar days to update.

 

[Stallone]

today is 7th working day right?

i no receive bonus interest leh

 

[Squaredot]

today is 7th working day right?

i no receive bonus interest leh

It was credited on 7/4/2018

 

[Stallone]

It was credited on 7/4/2018

how is 7th apr the 7th working day of the mth?

anyway, nothing credited either

 

[dork32]

the date is already over. you are probably not going to get anything for this month unless you appeal

 

[hwmook]

Interest already credited so don't have mean you didn't fulfil the criteria.

 

[ixoral]

Yup bonus interest has already been credited on 7 Apr. I checked back to past transactions, at least for Feb/Mar/Apr, the interest is always in on the 7th (calendar) day of the month.

 

[maple96]

today is 7th working day right?

i no receive bonus interest leh

3 checks:

1. Do you have salary crediting to DBS/POSB account?
2. Does the salary crediting transaction meet criteria, minimum show SAL as code under ibanking?
3. Check your bank and earn mthly, especially after salary is credited, to confirm it reflects the interest u will be paid!

 

[lindseymin]

Even if u credit salary, u will also need to fulfil the additional requirement to get the bonus interest.
Did u forget to spend at least $1 on your DBS credit card?

 

[WoShiPro]

My salary is paid via giro will i be entitle to the bonus interest?

transaction code GR Reference PAY

i have checked the FAQ and it look the way my company credit the pay is not eligible..

previously using ocbc and i can get bonus interest

 

[hyperbole]

My salary is paid via giro will i be entitle to the bonus interest?

transaction code GR Reference PAY

i have checked the FAQ and it look the way my company credit the pay is not eligible..

previously using ocbc and i can get bonus interest

yeah, it states PAY so it's eligible

 

[WoShiPro]

yeah, it states PAY so it's eligible

But that the reference code not transaction code..

According to faq transaction code nid to be SAL or PAY.

Have confirmed with DBS customer service and they mentioned it will be counted. Just nid to wait for bank & earn summary to update and hopefully their agent doesn't give wrong information.. It wll be weird if i'm eligible for 360 interest but not counted under multipler..

 

[FreshGradDays]

But that the reference code not transaction code..

According to faq transaction code nid to be SAL or PAY.

Have confirmed with DBS customer service and they mentioned it will be counted. Just nid to wait for bank & earn summary to update and hopefully their agent doesn't give wrong information.. It wll be weird if i'm eligible for 360 interest but not counted under multipler..

Same situation as you, thought won't get bonus but it works in the end. As long as got PAY or SAL all is good. Works both on ocbc 360 and dbs multiplier

 

[jmapsmylife]

Need to be new to the plan. The plan must be started after u open multiplier acc

Does anyone know why my investment is not reflected at my bank and earn summary even though I’m under the interest saver for quite some time.
Must I be new to the plan?