DBS My Account

[peppermint7]

I tested both debit cards(visa debit and posb passion) at ATM today linked to My Account(converted from Multiplier account). Both cards are still working.

Thanks for the feedback
Seems like i will need to walk in to branch to link them

 

[reddevil0728]

Thanks for the feedback
Seems like i will need to walk in to branch to link them

Pretty sure you can do it via ibanking nowadays

 

[zoneguard]

Pretty sure you can do it via ibanking nowadays

DBS actually provided 4 ways for you to do the linkage:
https://www.dbs.com.sg/personal/support/card-application-link-card-to-deposit-account.html

I was able to use digibank Online to link both POSB Passion Debit card and DBS Visa Debit card to My Account.

 

[peppermint7]

DBS actually provided 4 ways for you to do the linkage:
https://www.dbs.com.sg/personal/support/card-application-link-card-to-deposit-account.html

I was able to use digibank Online to link both POSB Passion Debit card and DBS Visa Debit card to My Account.

Wow! Thanks for the link

 

[greythorne]

A quick question: so this account can replace the POSB e-savings? I want an account for daily use like pay bills, GIRO, credit salary etc and should not have the “must maintain minimum $500” to avoid fall below fee.

I can use this account and the multiplier account together right?

 

[revhappy]

A quick question: so this account can replace the POSB e-savings? I want an account for daily use like pay bills, GIRO, credit salary etc and should not have the “must maintain minimum $500” to avoid fall below fee.

I can use this account and the multiplier account together right?

Yes, it can replace POSB e-savings. Whether you can have this account and multiplier, is a good question. I think it should be possible. Try applying online, it should be quick.

In the past, SCB used to have an account called SuperSalary account. This was the ultimate account anybody could dream off. Not only it had no fall below fee. They used to have $3000 of free overdraft. All you needed for to credit salary to the account, nothing else. This was before bonus saver and other high interest accounts came into being. Around 2010-2011 I think, I had their account. Stupid of me to close it.

 

[cassowary18]

Yes, it can replace POSB e-savings. Whether you can have this account and multiplier, is a good question. I think it should be possible. Try applying online, it should be quick.

In the past, SCB used to have an account called SuperSalary account. This was the ultimate account anybody could dream off. Not only it had no fall below fee. They used to have $3000 of free overdraft. All you needed for to credit salary to the account, nothing else. This was before bonus saver and other high interest accounts came into being. Around 2010-2011 I think, I had their account. Stupid of me to close it.

Still available leh. Doesn't even have to be salary, just an inward credit amount. So you can save your precious salary credit for another high interest savings account.

 

[reddevil0728]

Yes, it can replace POSB e-savings. Whether you can have this account and multiplier, is a good question. I think it should be possible. Try applying online, it should be quick.

In the past, SCB used to have an account called SuperSalary account. This was the ultimate account anybody could dream off. Not only it had no fall below fee. They used to have $3000 of free overdraft. All you needed for to credit salary to the account, nothing else. This was before bonus saver and other high interest accounts came into being. Around 2010-2011 I think, I had their account. Stupid of me to close it.

cannot reopen?

 

[revhappy]

Still available leh. Doesn't even have to be salary, just an inward credit amount. So you can save your precious salary credit for another high interest savings account.

Yes, but the new account is different. There is no free $3000 overdraft. Now overdraft costs prime +5% from the 1st dollar.

 

[tesarise]

Yes, but the new account is different. There is no free $3000 overdraft. Now overdraft costs prime +5% from the 1st dollar.

may I know why you are prioritizing on minimum balance and overdraft fees? thought your income quite respectable....

 

[revhappy]

may I know why you are prioritizing on minimum balance and overdraft fees? thought your income quite respectable....

It is just a money saving habit. If I know leaving 3k in bank account with no interest vs 3k in Singlife which gives $60+ a year, I would rather take the $60+

Maybe I have too much time and no other hobbies that I feel worth it, so this is my hobby.

 

[Slowdown]

Yup. I am doing that right now. I just opened My Account last week and is currently in the process of migrating my GIRO from POSB Saving to My Account. Once done I will cancel the Saving. I still have Multiplier where I kept enough balance to receive the maximum interest my tier allows.

A quick question: so this account can replace the POSB e-savings? I want an account for daily use like pay bills, GIRO, credit salary etc and should not have the “must maintain minimum $500” to avoid fall below fee.

I can use this account and the multiplier account together right?

 

[maple96]

After I realised the key difference between a savings acct vs current acct, I decided to keep my savings account. I am used to looking at tran code to identify the transactions. Current account dun give u different codes to identify.

 

[revhappy]

After I realised the key difference between a savings acct vs current acct, I decided to keep my savings account. I am used to looking at tran code to identify the transactions. Current account dun give u different codes to identify.

Oh yes, now i remember, my posb account long time ago used to have codes along the transaction like POS, SAL etc. But I didnt even notice that it is absent in multiplier/my account.

 

[greythorne]

After I realised the key difference between a savings acct vs current acct, I decided to keep my savings account. I am used to looking at tran code to identify the transactions. Current account dun give u different codes to identify.

Really? But how important is the transaction codes to identify the transactions?

 

[greythorne]

Oh yes, now i remember, my posb account long time ago used to have codes along the transaction like POS, SAL etc. But I didnt even notice that it is absent in multiplier/my account.

So when credit Salary to the My Account, will it have the eligible transaction code to qualify for the Multiplier interest?

 

[greythorne]

Yup. I am doing that right now. I just opened My Account last week and is currently in the process of migrating my GIRO from POSB Saving to My Account. Once done I will cancel the Saving. I still have Multiplier where I kept enough balance to receive the maximum interest my tier allows.

I am doing exactly that! But haven't inform HR of change of bank account for salary crediting.


Anyway want to know as per my previous post.

 

[revhappy]

So when credit Salary to the My Account, will it have the eligible transaction code to qualify for the Multiplier interest?

Shouldnt be a problem. Both Multiplier and My account are current accounts and both dont display the transaction code. Since multiplier account salary credit qualifies for interest, My account should also qualify.

 

[revhappy]

After I realised the key difference between a savings acct vs current acct, I decided to keep my savings account. I am used to looking at tran code to identify the transactions. Current account dun give u different codes to identify.

I just noticed, if you go to internet banking, then download the transactions in excel, you can see the transaction codes. So transaction codes are there even for current accounts like My account and Multiplier, maybe just not displayed in internet banking, you have to take extra step of downloading the transactions.

 

[Slowdown]

Yes they are eligible. As long as the salary is credited to any DBS/POSB account that has your name (with the correct transaction code) it is considered for Multipler.

My salary goes into my wife account (aka Joint Acct) and she issues me with a CECA-Like salary each month. I still get the interest for my Multiplier acct.



My wife stopped working last month. I am interested to see her Multiplier account for August whether my salary is considered INCOME in her Multiplier account. I am thinking how would the bank knows the salary (or dividend) is for who when the money is deposited into the Joint Acct.

So when credit Salary to the My Account, will it have the eligible transaction code to qualify for the Multiplier interest?