DBS Mulitplier and saving account query...

[77james]

To enjoy the higher interest, i need to transfer from saving to mulitipler right?

at Anytime i can transfer back to saving?


When i want to draw cash from ATM. Can i withdraw from multiplier account?
or i need go online and transfer back to saving account them withdraw from ATM

 

[jdepaul2]

soon you will not bother with the interest any more

 

[KnobKnob]

their interest not that good already. you still sign up for what

Sent from my dream using GAGT

 

[77james]

soon you will not bother with the interest any more

maybe too little in DBS account so cannot see the interest as significant

 

[coolnhappy]

To enjoy the higher interest, i need to transfer from saving to mulitipler right?

at Anytime i can transfer back to saving?


When i want to draw cash from ATM. Can i withdraw from multiplier account?
or i need go online and transfer back to saving account them withdraw from ATM

No need, just link account can already.

 

[77james]

their interest not that good already. you still sign up for what

Sent from my dream using GAGT

better than saving account

 

[peaceheart]

Think it's meant to lock in your money in the multiplier account for the bank to use and invest

 

[77james]

No need, just link account can already.

when apply multipler account there is no money all are in saving if dont transfer

 

[hardwaregone]

How much interest?

ICBC 1.2 pct time deposit, can be as short as 3 months.

 

[candyjack]

You can change your ATM card link to which account for withdrawal
Log in to digibank online with your User ID and PIN. Under Cards, select Change Card Linkage and log in with your 6-Digit iB Secure PIN. Select the Credit/Debit/ATM Card you wish to change the account linkage for. Select the Primary Linkage Account and any Secondary/Other Accounts to be linked to the card

 

[77james]

You can change your ATM card link to which account for withdrawal
Log in to digibank online with your User ID and PIN. Under Cards, select Change Card Linkage and log in with your 6-Digit iB Secure PIN. Select the Credit/Debit/ATM Card you wish to change the account linkage for. Select the Primary Linkage Account and any Secondary/Other Accounts to be linked to the card

ok thanks.

 

[nogizaka46]

their interest not that good already. you still sign up for what

Sent from my dream using GAGT

actually all consumer banks across Singapore affected, not just DBS.
But its still better than putting in savings account.

inf rate rises every year, your .05% interest per annum cannot even buy u a proper cai png by then.

 

[KnobKnob]

actually all consumer banks across Singapore affected, not just DBS.
But its still better than putting in savings account.

inf rate rises every year, your .05% interest per annum cannot even buy u a proper cai png by then.

got other banks still offering better interest rate.

dbs change theirs in feb this year

Sent from my dream using GAGT

 

[purplewave]

need 2 products min to "earn" reasonable interest. Salary credit and CC spend

 

[Joe Maya]

Yes.

After pay cc and other bills, i transfer the rest to the multipler.
Last time shiok i get $70+ every month. I play play transfer, if need money i transfer $50,$100 to main account to the extent i don't mind paying the $2? fee if main bank account inside below $500.

But now interest like not so shiok.

 

[excalibur324]

Just withdraw from multiplier can also

Sent from Tierra Del Fuego using GAGT

 

[bighead9n]

Create so many bank accounts for what.

 

[leonaheidern]

Actually all of the banks even CIMB fastsaver cutting interest already

For DBS Multiplier unless I change employer I have no choice but to stick with them. Not too had considering they have quite a huge network of both cash withdrawal and deposit machines.

CIMB fastsaver still for the no frills. Tho interest for 75 k being reduced from 1.5% to 0.8 % from July 01 2020

And if have time to shift money in and out E saver and Maybank i-savvy but I think I skip the shifting for this year ba.



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[Byfrost]

To enjoy the higher interest, i need to transfer from saving to mulitipler right?

at Anytime i can transfer back to saving?


When i want to draw cash from ATM. Can i withdraw from multiplier account?
or i need go online and transfer back to saving account them withdraw from ATM

As long as Salary is credited into any of your DBS/POSB bank accounts under your name, can already. However, only the money in the Multiplier account earns the interest. Hence it is common practice to put more funds in your Multiplier account, and leave enough for normal spending in your normal DBS/POSB account. So, yes, to "enjoy the higher interest", put in more funds into Multiplier account.

Yes, you can freely transfer funds between Multiplier account to your other DBS/POSB Accounts.

Yes, you can withdraw from your Multiplier account. You can either 1) Have a basic ATM or DBS Debit Card card, and link it to both your normal DBS/POSB account and Multiplier account for ATM cash deposit/withdrawal use or 2) Just apply one ATM / Debit card for each account ATM use.

 

[Byfrost]

soon you will not bother with the interest any more

their interest not that good already. you still sign up for what

Sent from my dream using GAGT

So what? Let's all close our high interest bank account and stick to our normal DBS/POSB account with 0.05% interest? Since interest not that good might as well stick to traditional Statement Savings / Passbook account right?