DBS changed its Mutiplier plan

[chiokcc]

So I guess is a "No" .......

 

[chiokcc]

OK, sold and redeemed my RSP ETF ....

 

[demoforce1]

OK, sold and redeemed my RSP ETF ....

yes, dont treat this as investment, but as part of the requirements for multiplier

 

[Trazora]

yes, dont treat this as investment, but as part of the requirements for multiplier

still have some room to play around since there are 4 funds to rotate

 

[demoforce1]

not sure if anyone else impacted, but I got advice this morning say that "unable to make the regular deduction due to insufficient fund", but I have > $100 in my saving account everyday

 

[Trazora]

not sure if anyone else impacted, but I got advice this morning say that "unable to make the regular deduction due to insufficient fund", but I have > $100 in my saving account everyday

any chance you changed the rsp amount?

 

[reddevil0728]

not sure if anyone else impacted, but I got advice this morning say that "unable to make the regular deduction due to insufficient fund", but I have > $100 in my saving account everyday

Is it available for use or earmarked?

 

[maumu]

not related to the above but I noticed mine was deducted on 15th - I thought they don't deduct on Saturdays... lesson learn. (the RSP amount was deducted directly from multiplier account...)

 

[Trazora]

not related to the above but I noticed mine was deducted on 15th - I thought they don't deduct on Saturdays... lesson learn. (the RSP amount was deducted directly from multiplier account...)

Though dated 15 jan, it was actually deducted on 17 Jan

 

[maumu]

Though dated 15 jan, it was actually deducted on 17 Jan

no luh. it was deducted on 15 Jan.

Date​	Value Date​	Code​	Reference No.​	Debit (Withdrawal)​	Credit (Deposit)​
15 Jan 2022	15 Jan 2022​	ADV	Advice I-BANK I-BANK-Nikko AM SGD Investment Grd	S$100.00

 

[Trazora]

no luh. it was deducted on 15 Jan.

Date​	Value Date​	Code​	Reference No.​	Debit (Withdrawal)​	Credit (Deposit)​
15 Jan 2022	15 Jan 2022​	ADV	Advice I-BANK I-BANK-Nikko AM SGD Investment Grd	S$100.00

The money was still in my account on sat and sun and deducted on mon. Deduction would have failed if I had withdrawn before the deduction on Monday 17 Jan.

 

[alchemist_acid]

not sure if anyone else impacted, but I got advice this morning say that "unable to make the regular deduction due to insufficient fund", but I have > $100 in my saving account everyday

I suspect I having same issue.
Money for 3 RSPs all not deducted for Jan 2022. Balance was way more than sufficient.

 

[demoforce1]

any chance you changed the rsp amount?

nope, never touch

 

[demoforce1]

Is it available for use or earmarked?

yes, no earmark

 

[demoforce1]

I suspect I having same issue.
Money for 3 RSPs all not deducted for Jan 2022. Balance was way more than sufficient.

ok, seems like many people have the same issue
cso said will update me in 1-3 biz days

 

[chiokcc]

OK, sold and redeemed my RSP ETF ....

I redeemed on Monday, but January's RSP came in on Wednesday .... Dunno if I need to do another redemption just to wiped out the January's purchase ???

 

[reddevil0728]

I redeemed on Monday, but January's RSP came in on Wednesday .... Dunno if I need to do another redemption just to wiped out the January's purchase ???

as long as you hold onto it. you dun reset the clock

 

[Trazora]

I redeemed on Monday, but January's RSP came in on Wednesday .... Dunno if I need to do another redemption just to wiped out the January's purchase ???

Need to terminate the RSP for that fund and redeem everything of that fund, then wait 6 months, before RSP of the same fund can count to multiplier again.

 

[chiokcc]

Need to terminate the RSP for that fund and redeem everything of that fund, then wait 6 months, before RSP of the same fund can count to multiplier again.

Can terminate and redeem? Or should redeem, then terminate? No difference?

TIA ....

 

[reddevil0728]

Can terminate and redeem? Or should redeem, then terminate? No difference?

TIA ....

No diff. The key is the redemption date.