DBS changed its Mutiplier plan

[LexusIS]

"I think the intention of the clause is quite clear — the earmarked funds are not supposed to be utilized before the earmark period ends. Moving the same funds into another promo 2 days early looks like utilizing the funds, even if they never left the bank account physically. (read clause 8 & 9 which prohibits)

Earmarking is not new to banks and they have the system to set the period. The only way to use your funds during earmark period is to go down the branch or contact the bank to break the earmark, subjected to review and approval. If not, there is no way to use your funds during an earmark.
(You can ask your banking friends about it.)

When you are able to use your funds without breaking the earmark, it means the bank's earmark period is over and you have completed the cycle. So in essence there shouldn't be an issue.

In the event of very extreme and unfortunate situation whereby the bank decides that you didn't fulfill your earmark period, you have a very strong case on hand to write to MAS and /DBS CEO. Nowadays it is very easy to craft a strong complain letter using AI.

Guys, do it only if you feel comfortable. If not, why worry yourself over an extra 1 or 2 days of interest.
Those that have done it or will be doing it don't worry - EARMARK PERIOD IS OVER WHEN YOU CAN USE THE FUNDS.

 

[~sabaisabai~]

@sabaisabai would you be able to take a look at your application form pg 2 and see if the mentioned "use and withdrawal" clauses 8 and 9 are still in the TnC? Thank you

Tnc is the same. But according to the manager, due to many ongoing promo and many sign up, thus bank decided to release the earmark earlier for this round.

@Squaredot - yes they will pay 6 and 7 may. I also quoted tnc to her. She's aware.

For this current casa earmark till 28 July, she suggest to do on 28 jul.

She assured me that I'll receive my interest.

I'm just sharing my experience of placing casa yesterday. For those who worry. Please wait till 8 may

 

[reddevil0728]

Earmarking is not new to banks and they have the system to set the period. The only way to use your funds during earmark period is to go down the branch or contact the bank to break the earmark, subjected to review and approval. If not, there is no way to use your funds during an earmark.
(You can ask your banking friends about it.)

When you are able to use your funds without breaking the earmark, it means the bank's earmark period is over and you have completed the cycle. So in essence there shouldn't be an issue.

In the event of very extreme and unfortunate situation whereby the bank decides that you didn't fulfill your earmark period, you have a very strong case on hand to write to MAS and /DBS CEO. Nowadays it is very easy to craft a strong complain letter using AI.

Guys, do it only if you feel comfortable. If not, why worry yourself over an extra 1 or 2 days of interest.
Those that have done it or will be doing it don't worry - EARMARK PERIOD IS OVER WHEN YOU CAN USE THE FUNDS.

We can only speculate who is right or who is wrong, but I am not sure that's the way to look at it if there's ever a civil dispute and how the court will look at it.

Of course if it doesn't reach the level of court and whether there's an interest of certain party to settle, it's a different story, but i am typing from the basis of what's the "by right".

When policies are in place, and you agree to abide by the policy, you abide by the policy regardless of whether the system allows you do so or not.

it's like making medical claims. you can only claim for ABC, and you go claim for DEF and say it is ABC.

just cost the system lets you do it doesn't mean you can do it per policy.

 

[reddevil0728]

Tnc is the same. But according to the manager, due to many ongoing promo and many sign up, thus bank decided to release the earmark earlier for this round.

@Squaredot - yes they will pay 6 and 7 may. I also quoted tnc to her. She's aware.

For this current casa earmark till 28 July, she suggest to do on 28 jul.

She assured me that I'll receive my interest.

hope you have the assurance in writing if there ever be a need for dispute!

 

[~sabaisabai~]

hope you have the assurance in writing if there ever be a need for dispute!

You wait lah !!!!
Wait till 8 may
You don't need to worry for others
Mind your own biz can liao

 

[~sabaisabai~]

Earmarking is not new to banks and they have the system to set the period. The only way to use your funds during earmark period is to go down the branch or contact the bank to break the earmark, subjected to review and approval. If not, there is no way to use your funds during an earmark.
(You can ask your banking friends about it.)

When you are able to use your funds without breaking the earmark, it means the bank's earmark period is over and you have completed the cycle. So in essence there shouldn't be an issue.

In the event of very extreme and unfortunate situation whereby the bank decides that you didn't fulfill your earmark period, you have a very strong case on hand to write to MAS and /DBS CEO. Nowadays it is very easy to craft a strong complain letter using AI.

Guys, do it only if you feel comfortable. If not, why worry yourself over an extra 1 or 2 days of interest.
Those that have done it or will be doing it don't worry - EARMARK PERIOD IS OVER WHEN YOU CAN USE THE FUNDS.

Yes. Those who worry just wait till 8 may.

 

[royalmix]

I have participated for more than 2 years now, money is always released earlier than earmark date specified.

Banks have reasons why they release earlier, eg technical or system problem, if they release 1 day late, are they going to pay you 1 day extra interest?

Go try your luck lor. For all you know, it might be a misunderstanding or misinterpretation?

Go to the same branch if you want to try your luck, or get rejected by other branches ?

Yes, it is none of my business, so dun kaypoh!

 

[ThreeSteps]

In case this might be relevant to you, please note that the current branch casa t&cs mention this point:
“You may only participate once per account, per Promotion Period (regardless of the number of registration windows within the same Promotion Period)”

my situation:
Although I have an older br casa (casa#1) with earmark release date 07May, but due to this clause, I think I have to wait for a new Promotion Period to be announced next week instead of trying to start a new cycle for (casa#1) on 08May under the current Promotion Period (15Apr to 13May). This is because I have registered a new br casa (casa#2) on 02May for incremental fresh funds.

 

[~sabaisabai~]

For those who feel uncomfortable, i strongly suggest to wait till tomorrow so that can sleep well at night. Need not to spend time debating and fire.
Some of them requested update whether can be done earlier. Yes it can be done for this round. Else they will not processed casa for me.

 

[sglandscape]

We can only speculate who is right or who is wrong, but I am not sure that's the way to look at it if there's ever a civil dispute and how the court will look at it.

Of course if it doesn't reach the level of court and whether there's an interest of certain party to settle, it's a different story, but i am typing from the basis of what's the "by right".

When policies are in place, and you agree to abide by the policy, you abide by the policy regardless of whether the system allows you do so or not.

it's like making medical claims. you can only claim for ABC, and you go claim for DEF and say it is ABC.

just cost the system lets you do it doesn't mean you can do it per policy.

Exactly this, people mistaken goodwill or a benefit against contractual obligations. Strange world we live in, and thinking a complain written by AI is the solution to all disputes I wish the world was this simple.

 

[reddevil0728]

You wait lah !!!!
Wait till 8 may
You don't need to worry for others
Mind your own biz can liao

Yes. Those who worry just wait till 8 may.

For those who feel uncomfortable, i strongly suggest to wait till tomorrow so that can sleep well at night. Need not to spend time debating and fire.
Some of them requested update whether can be done earlier. Yes it can be done for this round. Else they will not processed for casa for me.

i think you are missing my point leh. i am just saying hopefully is positive for you.

it's just that i dunno why you think it's not possible for sh!t to happen even if just wait

 

[sglandscape]

For those who feel uncomfortable, i strongly suggest to wait till tomorrow so that can sleep well at night. Need not to spend time debating and fire.
Some of them requested update whether can be done earlier. Yes it can be done for this round. Else they will not processed for casa for me.

Ever did their fresh funds promo before last year, if it overlaps confirm will reject and not get the interest and they will inform you mid way after you register. So might be a hit and miss, for those who want to risk that 1-2 days please go ahead.

 

[sglandscape]

In case this might be relevant to you, please note that the current branch casa t&cs mention this point:
“You may only participate once per account, per Promotion Period (regardless of the number of registration windows within the same Promotion Period)”

my situation:
Although I have an older br casa (casa#1) with earmark release date 07May, but due to this clause, I think I have to wait for a new Promotion Period to be announced next week instead of trying to start a new cycle for (casa#1) on 08May under the current Promotion Period (15Apr to 13May). This is because I have registered a new br casa (casa#2) on 02May for incremental fresh funds.

Waiting is better, cause you get the whole 3 months instead of registering at the end of the promo period.

 

[sglandscape]

I have participated for more than 2 years now, money is always released earlier than earmark date specified.

Banks have reasons why they release earlier, eg technical or system problem, if they release 1 day late, are they going to pay you 1 day extra interest?

Go try your luck lor. For all you know, it might be a misunderstanding or misinterpretation?

Go to the same branch if you want to try your luck, or get rejected by other branches ?

Yes, it is none of my business, so dun kaypoh!

The current one is easy game, compared to last year

 

[sglandscape]

you think is good will? this is how your perceive.
ppl here ask me to update if can be done when i am at the bank, so i just updated
so what is your problem???????????????????????????????
why waste time debating?
already done and manager assured me
last time is last time, now is now!
you must as well say police wear short in the past?

if you worry, just wait till 8 May. this thread is for sharing, isnt it?

Am quite sure you will get your interest, they are very customer friendly in general. Just don't know if it's good advice to everyone in the event you do not.

 

[royalmix]

Exactly this, people mistaken goodwill or a benefit against contractual obligations. Strange world we live in, and thinking a complain written by AI is the solution to all disputes I wish the world was this simple.

Spot on! Some people just dunno how to appreciate goodwill!

Just know how to complain to MAS, and later kill all the goodwill and promos! That's what happened to Moomoo, complain to MAS, no more promos!

Then the CEO went over to IG markets, there got good promos, never heard before!

 

[royalmix]

I asked Chatgpt to comment, I agree with the answers:

That reply is basically trying to shift responsibility back to the reader:

• “I’m only sharing my experience”
  
• “Go verify yourself”
  
• “Do it at your own risk”

That is fair to an extent, because people should not blindly rely on forum comments for financial promotions. But the weak point is that the person is still indirectly encouraging others by presenting the method as something that worked.

The issue is not whether the branch manager exists or whether the experience happened. The issue is whether:

• the manager correctly interpreted the promo rules, and
  
• the arrangement would survive later audit/compliance review.

Frontline staff and even managers can sometimes misunderstand campaign mechanics, especially around edge cases. Banks also sometimes reverse outcomes later if they determine the treatment was inconsistent with T&Cs.


In short/summary:

It’s not about trusting or distrusting the manager. Staff can sometimes misinterpret promo mechanics. The question is whether the arrangement is actually consistent with the T&Cs and whether the bank’s backend/compliance team would honour it later.

Until you get your up to 3 mths' interest!

 

[reddevil0728]

Exactly this, people mistaken goodwill or a benefit against contractual obligations. Strange world we live in, and thinking a complain written by AI is the solution to all disputes I wish the world was this simple.

indeed strange. it's like i hope what the user said is indeed true. like there's no reason for me to hope anything bad towards the user.

but what the user is failing to realise is not about waiting or not, but rather being aware that he has no documented grounds to stand on in the event of a dispute.

it's like hypothetically if all goes well, great!

but why never think about the hypothetical inverse that might be possible too?

like too much faith?

you think is good will? this is how your perceive.
ppl here ask me to update if can be done when i am at the bank, so i just updated
so what is your problem???????????????????????????????
why waste time debating? if you not sure, go down to the branch to confirm
already done and manager assured me
last time is last time, now is now!
you must as well say police wear short in the past?

if you worry, just wait till 8 May. this thread is for sharing, isnt it?

again you keep talking about worry, when the point is you still somehow don't recognise that what's factually true is you don't have anything in black and white other than just pure faith in what the manager said is true.

like it's not difficult for you to say what's factually true right? like you will disagree that you don't have black and white what the manager is implying?

I am not even disputing whether you should get it or not.

Spot on! Some people just dunno how to appreciate goodwill!

Just know how to complain to MAS, and later kill all the goodwill and promos! That's what happened to Moomoo, complain to MAS, no more promos!

Then the CEO went over to IG markets, there got good promos, never heard before!

rare few times you make sense! you use AI for this? hahaha

sorry hor i dont advise anyone

don't think what the user say is you are providing an advice. but rather just saying that just following without realising the potential sh!t that might happen is generally not a "good advice", and not saying is your advice.

i just sharing my experience. ppl can based on my sharing to access if they want to register new casa. can always go down to branch to confirm right? why so difficult? just make a trip to the branch to check it out
you mean you dont trust the dbs mgr working there?
do it at your own risk. dont follow blindly

is not about trust or not. is about is there black and white from the manager to confirm the interpretation in case of a dispute?

the manager alr assured me so many times, i dont need ppl here to assure me
like i said many times and let me repeat 1 last time again.
if you all worry, just register on 8 May, PERIOD!

you keep saying manager assured you.

but if got issue and dispute, the manager say no he/she didn't. you got black and white to push back?

you can repeat many times, but if you are repeating something not relevant also no point what.

 

[reddevil0728]

I asked Chatgpt to comment, I agree with the answers:

That reply is basically trying to shift responsibility back to the reader:

• “I’m only sharing my experience”
  
• “Go verify yourself”
  
• “Do it at your own risk”

That is fair to an extent, because people should not blindly rely on forum comments for financial promotions. But the weak point is that the person is still indirectly encouraging others by presenting the method as something that worked.

The issue is not whether the branch manager exists or whether the experience happened. The issue is whether:

• the manager correctly interpreted the promo rules, and
  
• the arrangement would survive later audit/compliance review.

Frontline staff and even managers can sometimes misunderstand campaign mechanics, especially around edge cases. Banks also sometimes reverse outcomes later if they determine the treatment was inconsistent with T&Cs.


In short/summary:




Until you get your up to 3 mths' interest!

you should also ask ChatGPT, whether the user has issue addressing whether got black and white to dispute what the manager say or not

 

[royalmix]

rare few times you make sense! you use AI for this? hahaha

That's obvious insult, I complain to Admin ok!

you should also ask ChatGPT, whether the user has issue addressing whether got black and white to dispute what the manager say or not

U dunno how to ask your own questions! I already posted the answers, u dunno how to interpret!