DBS changed its Mutiplier plan

[hlw8888]

Actually the credit card spending criteria is easy since no minimal commitment. Provided you have at least one dbs/posb credit card.

i dun have a credit card b4 cos salary not high enough previously. maybe i go try try if there's any card i can apply now.

Sent from Xiaomi REDMI NOTE 4 using GAGT

 

[tiertime]

Anyone knows if this will be considered an eligible investment transaction to receive the Multiplier bonus interest :

Yesterday Buy a SGX stock from DBS Vickers Cash upfront then
Sell it today through cash upfront

 

[iduncheckmail]

Anyone knows if this will be considered an eligible investment transaction to receive the Multiplier bonus interest :

Yesterday Buy a SGX stock from DBS Vickers Cash upfront then
Sell it today through cash upfront

As far as i know, you cannot sell thru cash-upfront. Only buy. Sell activity is thru normal brokerage fees (aka cash account).

but besides that point, i dont see why buy/sell activity on same day wont be counted. You just bear the risk of share price fluctuations, and the borkerage fees lor.

 

[tiertime]

As far as i know, you cannot sell thru cash-upfront. Only buy. Sell activity is thru normal brokerage fees (aka cash account).

but besides that point, i dont see why buy/sell activity on same day wont be counted. You just bear the risk of share price fluctuations, and the borkerage fees lor.

if buy using cash upfront, within next 3 days can sell thru cash upfront and the commisison is lower than cash account..


just not sure if it will be considered as eligible investment for the Multiplier bonus interest.... if anyone knows pls advise...

 

[GrampyHo]

Yes. Trade from cash upfront counts, so do dividends.

if buy using cash upfront, within next 3 days can sell thru cash upfront and the commisison is lower than cash account..


just not sure if it will be considered as eligible investment for the Multiplier bonus interest.... if anyone knows pls advise...

 

[FroztSpectre]

Deduction only happens once per month, around the 15th. So if you setup after that then you'll have to wait for the next month

Set up DBS Multiplier in June.

Set up my RSP/POSB Invest Saver (buy into G3b) early in July, money deducted on 16th (15th is weekend), Fund came in on 19th.

Bank & Earn still shows $0 in investment.

 

[swordsly]

Set up DBS Multiplier in June.

Set up my RSP/POSB Invest Saver (buy into G3b) early in July, money deducted on 16th (15th is weekend), Fund came in on 19th.

Bank & Earn still shows $0 in investment.

Check it closer to end of month. The RSPs are usually updated then.

 

[FroztSpectre]

Check it closer to end of month. The RSPs are usually updated then.

Hope so
Poor ppl like me need all the interest i can get

 

[swordsly]

Hope so
Poor ppl like me need all the interest i can get

Dont need to hope; it will as long as your RSP is initiated after your multiplier is approved and active.

 

[Tanukichi]

Yo! Just to clarify, interest earned is only on the funds inside your Multiplier Account right?

 

[ixoral]

Yes
10chars

Yo! Just to clarify, interest earned is only on the funds inside your Multiplier Account right?

 

[chunchouw]

Direct credit salary to DBS Multiplier Account

My salary is credited directly to my POSB saving account currently. Can I ask my HR to direct credit my salary into DBS Multiplier? Do i get a ATM card for Multiplier account? Thank you!

 

[vddgnd]

My salary is credited directly to my POSB saving account currently. Can I ask my HR to direct credit my salary into DBS Multiplier? Do i get a ATM card for Multiplier account? Thank you!

Salary no need direct credit into multiplier. Your other posb saving acc in counted. Can still use current ATM card but actually most of us not ATM withdraw from multipler so that the fund there can earn high interest rate.

 

[Trazora]

also many of us dun withdraw cash at atm/branch from posb/dbs account so that can earn 10% rebate for debit card contactless payments on the beep beep kaching promo, till end sep. need min $400 monthly spend.

 

[misstt]

hi guys, hope im not asking a repeated question

opened a multiplier account AFTER i already have monthly Nikko ETF (forgot to read fine print since that day rushing)
Any idea how i can rectify this so that the investment criteria gets captured? should i cancel my Nikko ETF and then wait X months then restart?

 

[kalipo]

Hi guy what happen if I do a withdraw or transfer out some money from this acct how will affect my acct. thank you

 

[LuckyPockets]

Is there a period whereby I must have had the account before I can enjoy higher interest?

I created multiplier account at 10th July, setup RSP afterwards. money deducted on 16th and fund shown as transaction on 19th. Salary also came in as Giro on 19th.

Checked interest, and amount looks closer to 0.05% than amount with Salary + 1 category. Did I mess something up?

 

[Trazora]

hi guys, hope im not asking a repeated question

opened a multiplier account AFTER i already have monthly Nikko ETF (forgot to read fine print since that day rushing)
Any idea how i can rectify this so that the investment criteria gets captured? should i cancel my Nikko ETF and then wait X months then restart?

can cancel nikko etf, sell all units then wait 6 months before reapply. At the meantime can buy ABF bond for it to count

 

[hlw8888]

if i dun have 50k to put into multiplier account now, is it wise to credit salary to multiplier instead of posb savings? currently my salary is credit to citibank.

 

[Trazora]

Hi guy what happen if I do a withdraw or transfer out some money from this acct how will affect my acct. thank you

not much affected, just lower balance