DBS changed its Mutiplier plan

[demoforce1]

Now I understood why DBS does not allow CASA to do online. I went to signup at a branch & this time was able to cut short the queue when the DBS banker approached me to process it. During this time, he was trying to sell me other investment products. I had to listen for ~45mins to get myself off the hook.
They want the big fishes to head to their branches so that they be able to hook some to buy their products.
I think its fair for them to want to do this, but seriously the queue is overwhelming & they ought to manage this better.

they dont approach me separately and no need to listen for 45 minutes, the queue is less than 30 mins

 

[sglandscape]

Now I understood why DBS does not allow CASA to do online. I went to signup at a branch & this time was able to cut short the queue when the DBS banker approached me to process it. During this time, he was trying to sell me other investment products. I had to listen for ~45mins to get myself off the hook.
They want the big fishes to head to their branches so that they be able to hook some to buy their products.
I think its fair for them to want to do this, but seriously the queue is overwhelming & they ought to manage this better.

Exactly, for some people they may want to put into even higher yielding stuff. This offer is just a hook, especially rates drooping like flies now, eventually people will chase for higher rate products in an investment.

 

[peppermint7]

Do they have a page to let you select all the eligible insurances? I am going through the app and saw MultiGen Protect but is underwritten by Chubb Insurance Singapore Limited. So not all listed are eligible it seems. Since tnc says Multiplier recognises all Manulife Regular, Flexible and Single Premium insurance policies distributed by DBS/POSB purchased after Multiplier Account is opened

Is there anyway to sieve out only Multuplier recognised insurances?

https://www.dbs.com.sg/personal/insurance/protection/default.page

 

[peppermint7]

I bought a new TermProtect this week and the first premium was deducted right away. I thought there will be a 14 days free look period. Shall I cancel my existing insurance (12/12 this month) before 15th Feb?

I also just bought Termprotect today. And deduction is straight away. I suppose we should be getting our 1st BI on 7th March.. Let's see.

 

[reddevil0728]

I also just bought Termprotect today. And deduction is straight away. I suppose we should be getting our 1st BI on 7th March.. Let's see.

1st?

 

[Froggyman]

I also just bought Termprotect today. And deduction is straight away. I suppose we should be getting our 1st BI on 7th March.. Let's see.

Should be on Apr.. effective in March .. then get the Mar bonus interest on 7th Apr.

 

[peppermint7]

Should be on Apr.. effective in March .. then get the Mar bonus interest on 7th Apr.

Really?? I thought they already deducted from my acc instantly so can see the BI next month.
Then during the 12 month we can't cancel as can only cancel on 13th month
Then 11th month itself need buy another new set of policy for the new BI to come in smoothly without interval? Like this i need to recalculate the opportunity cost. Haiz.

 

[reddevil0728]

Really?? I thought they already deducted from my acc instantly so can see the BI next month.
Then during the 12 month we can't cancel as can only cancel on 13th month
Then 11th month itself need buy another new set of policy for the new BI to come in smoothly without interval? Like this i need to recalculate the opportunity cost. Haiz.

Because it always count for the following month?

 

[banyan8]

Should be on Apr.. effective in March .. then get the Mar bonus interest on 7th Apr.

Then need to pay two policy premiums this month...

 

[reddevil0728]

Then need to pay two policy premiums this month...

If not wrong is just technicality.

one of the months not charged.

 

[yiwei]

Really?? I thought they already deducted from my acc instantly so can see the BI next month.
Then during the 12 month we can't cancel as can only cancel on 13th month
Then 11th month itself need buy another new set of policy for the new BI to come in smoothly without interval? Like this i need to recalculate the opportunity cost. Haiz.

inception this month and bonus interest start next month

 

[reddevil0728]

inception this month and bonus interest start next month

Paid the following month

 

[kariage]

Hi, I setup invest saver RSP before 14th Feb but forgot to fund the account before 15th Feb, I only funded this morning. Is it considered failed deduction for this month?

Does it mean I need to do lump sum investment of $1K to qualify for this month investment category of multiplier account?

 

[alanchia67]

Hi, I setup invest saver RSP before 14th Feb but forgot to fund the account before 15th Feb, I only funded this morning. Is it considered failed deduction for this month?

Does it mean I need to do lump sum investment of $1K to qualify for this month investment category of multiplier account?

If RSP is successful, you should see a transaction posted 16Feb. Else I think it failed.
The deduction is supposed to be on every 15th, but it was a weekend yesterday.

 

[reddevil0728]

Hi, I setup invest saver RSP before 14th Feb but forgot to fund the account before 15th Feb, I only funded this morning. Is it considered failed deduction for this month?

Does it mean I need to do lump sum investment of $1K to qualify for this month investment category of multiplier account?

Seems like it yes.

technically you can go buy via vickers and still be counted.

but those etf with 1 lot size can be as low as <$1 but the commission is $10+ la

 

[maumu]

If RSP is successful, you should see a transaction posted 16Feb. Else I think it failed.
The deduction is supposed to be on every 15th, but it was a weekend yesterday.

My RSP was deducted yesterday (Sunday 15/2). a bit surprised but yeah, seems like they have changed.

 

[reddevil0728]

My RSP was deducted yesterday (Sunday 15/2). a bit surprised but yeah, seems like they have changed.

Dated 15/2?

 

[maumu]

Dated 15/2?

Yes.

 

[peppermint7]

My 1st RSP deducted today.

 

[jess_sy]

Now I understood why DBS does not allow CASA to do online. I went to signup at a branch & this time was able to cut short the queue when the DBS banker approached me to process it. During this time, he was trying to sell me other investment products. I had to listen for ~45mins to get myself off the hook.
They want the big fishes to head to their branches so that they be able to hook some to buy their products.
I think its fair for them to want to do this, but seriously the queue is overwhelming & they ought to manage this better.

Did twice also thru normal bank counter staff process the CASA. No special queue