Moomoo cash plus

[yslvlys]

Changes noted in TNC:

2.Please ensure the 5-day deposit period has end before completing the 2 tasks. Otherwise, the tasks will not be marked in progress.

FAQ
27. Can I complete the 2 tasks during the 5-day deposit period?

No, the task can only be completed after the 5-day deposit period has end. However, do note that the 2 tasks are required to be completed within the 60-day net asset maintenance period.

(This does not affect me as I am happy to track manually on my own, ie the tasks will not be marked in progress - referring to the event banner which helps you monitor your countdown and amt)

New joiners should take note!

I take my hat off you. It already states now: no, the task can only be completed after the 5-day period, not just not marked in progress. I will try this reasoning today with the customer service. Hope it works. Sekali they change the terms again lol.

 

[sglandscape]

I take my hat off you. It already states now: no, the task can only be completed after the 5-day period, not just not marked in progress. I will try this reasoning today with the customer service. Hope it works. Sekali they change the terms again lol.

Their system likely coded that way then they update the tnc to match to avoid confusion

 

[yslvlys]

Their system likely coded that way then they update the tnc to match to avoid confusion

Yes, for sure. But their old terms misled some participants and result in some participants losing some returns. The right customer service would be to make it good for those participating based on old conditions. If I saw their new terms, I would never have subscribed immediately. For some pple (me), they thought they have subscribed successfully and went on to subscribe smaller sum to the other cash plus funds eg USD fund after 5-day deposit period, thus activating accidentally the counter for a smaller sum with bonus returns.

 

[rob1977]

Your earlier Redeem is trigger at Aug 13 ? Or is it actually 1 day earlier and then Redeem is completed at Aug 13 ?

Look at your Aug 14 Redeem it shows working isn't it? Where got within 1 hour get monies?

I guess you like the other reader you all mean different stuff. I think you meant if Redeem is completed you can immediately Subscribe this I know. My question is when you tap Redeem within 1 hour can get monies?

You same as the other reader keep saying withdrawal is immediate later then I know he talking different stuff.

 

[sgdividends]

in summary to be eligible for solitaire

Today I registered , and deposit 100k and subscribed 100k to cash plus. So now I have 130k in my cashplus account

I met the 100k net deposit.

To activate the 1.68% pa, when the 5 day counter reaches 0. I can redeem 50 dollars from cashplus and resubscribe 50 dollars into the same cashplus account on the same day before 12 pm .

This will make 120k in the cashplus account eligible for 1.68% pa for 30 days, as long as I maintain a net deposit of 100k in my cashplus account for 60 days.

This 60 days start when the 5 day counter goes to 0.

the 30 days of additional 1.68% pa starts from the date I redeem 50 dollars and resubscribe 50 dollars into the cash plus account on the same date before 12 pm


*****CSO confirm the above is correct ****
For those who kanna like me, a workaround is just after 5 days, redeem $50 bucks and resubscribe the same before 12 pm on the same day.

No loss of interest

 

[yslvlys]

in summary to be eligible for solitaire

Today I registered , and deposit 100k and subscribed 100k to cash plus. So now I have 130k in my cashplus account

I met the 100k net deposit.

To activate the 1.68% pa, when the 5 day counter reaches 0. I can redeem 50 dollars from cashplus and resubscribe 50 dollars into the same cashplus account on the same day before 12 pm .

This will make 120k in the cashplus account eligible for 1.68% pa for 30 days, as long as I maintain a net deposit of 100k in my cashplus account for 60 days.

This 60 days start when the 5 day counter goes to 0.

the 30 days of additional 1.68% pa starts from the date I redeem 50 dollars and resubscribe 50 dollars into the cash plus account on the same date before 12 pm


*****CSO confirm the above is correct ****
For those who kanna like me, a workaround is just after 5 days, redeem $50 bucks and resubscribe the same before 12 pm on the same day.

No loss of interest

U lucky lor, didn't accidentally subscribe to another cash plus fund after the 5 days which will activate the counter wrongly..

 

[devion]

Receive msg from Moomoo on 1 month 6.8% bonus interest in cashplus, much deposit within 5 days of registration & the funds must be kept min 2 months. So its 1st month 6.8% & 2nd month depends on the funds subscribed.

 

[Mickey01]

Receive msg from Moomoo on 1 month 6.8% bonus interest in cashplus, much deposit within 5 days of registration & the funds must be kept min 2 months. So its 1st month 6.8% & 2nd month depends on the funds subscribed.

you left out the words "up to" 6.8%

 

[yslvlys]

you left out the words "up to" 6.8%

The additional return is a fixed 1.68%p.a. for 30 days, on top of the returns for whichever cashplus fund u subscribed to. Hopefully they don't change the wording again lol.

 

[Vincent_G]

Hmm, my understanding, first 60 days (about 2 months) enjoys only return from cash plus, the additional 1.68% only for next 30 days (aka 3rd month). Am I correct?

 

[sohguanh]

Hmm, my understanding, first 60 days (about 2 months) enjoys only return from cash plus, the additional 1.68% only for next 30 days (aka 3rd month). Am I correct?

I think no. Moomoo English not so deep for me (or maybe it is?). I interpret as once the counter starts, for next 30 days you get additional 1.68% daily returns on top of the fund daily returns. Then 30 days passed liao but you still won't get the 1.68%. You need to wait for another 30 days which is then at the 60 days + a few days later? then they give you that earlier first 30 days 1.68% daily returns.

 

[yslvlys]

Update: Moomoo CS replied today they will manually track my subscription in Fullerton SGD Fund from the day when I immediately subscribed to the fund (on the same day as I registered for the promo).

Yay now I can also yaya papaya like royalmix, say the revised terms doesn't affect me lol!

 

[Mickey01]

Update: Moomoo CS replied today they will manually track my subscription in Fullerton SGD Fund from the day when I immediately subscribed to the fund (on the same day as I registered for the promo).

Yay now I can also yaya papaya like royalmix, say the revised terms doesn't affect me lol!

So will the actions described below still acceptable and auto tracking will start counting? (similar to what was describe in post #1305)
1. Register for promo 21 Aug (ELITE for example)
2. Deposit $20k and subscribe to Cash Plus same day (21 Aug)
3. Funds Desposit Counter turn to 0 on 26 Aug
4. Redeem $10 Cashplus and resubscribe $10 on the 22 Aug

 

[yslvlys]

So will the actions described below still acceptable and auto tracking will start counting? (similar to what was describe in post #1305)
1. Register for promo 21 Aug (ELITE for example)
2. Deposit $20k and subscribe to Cash Plus same day (21 Aug)
3. Funds Desposit Counter turn to 0 on 26 Aug
4. Redeem $10 Cashplus and resubscribe $10 on the 22 Aug

Yes I would think so. Take note that u do not accidentally subscribed to any other cash plus funds after the counter turns to 0, eg. funds are autosweep into other cashplus account. That's what happened to me. I had some dividends from stocks that were autosweep into other cashplus funds and activated the counter wrongly.

 

[jovinachoi]

Moomoo cash plus Fullerton Liquidity Fund first time seeing negative return

 

[sohguanh]

Moomoo cash plus Fullerton Liquidity Fund first time seeing negative return

I exit this fund a while ago. It promise same day redemption get monies but compared to Mari Invest still not fast enough. Also it perform almost always lousier than Fullerton SGD Cash Fund

 

[sglandscape]

I exit this fund a while ago. It promise same day redemption get monies but compared to Mari Invest still not fast enough. Also it perform almost always lousier than Fullerton SGD Cash Fund

Thought to add more colour:

1) Money market funds typically do not have instant redemption. Mari Invest is the exception rather than the norm, and that instant redemption cost is likely borne by investor for having more liquid cash to meet this need.

2) Risk profile for the Liquidity Fund is A LOT LOWER than the Cash Fund as it invests only in MAS Bills based on the disclosures I could find. Given that they take zero credit risk, of course it would perform worse. However, if you're putting your cash and have to choose, you should be aware why the return is higher (or lower) and the risk that comes with it.

 

[temasek888]

Wise offers instant redemption upto 97% on their MMF linked to their "Jars/Interest".

 

[sohguanh]

Wise offers instant redemption upto 97% on their MMF linked to their "Jars/Interest".

You forget to add Wise charge 0.25% fee and every month minus monies from your cash account. For up to 17k instant withdrawal and about 3.75% SGD returns every reader do your maths. I think I prefer Choc and Mari Invest.

Edit: think now Beta no wise fees then you hoot later wise add the fees you faster take out if that is the strategy readers want

 

[banyan8]

So will the actions described below still acceptable and auto tracking will start counting? (similar to what was describe in post #1305)
1. Register for promo 21 Aug (ELITE for example)
2. Deposit $20k and subscribe to Cash Plus same day (21 Aug)
3. Funds Desposit Counter turn to 0 on 26 Aug
4. Redeem $10 Cashplus and resubscribe $10 on the 22 Aug

Do u still get 1.68%pa booster for 30 days? What's this $10 Cashplus for? I don't see it is mentioned in the t&n.
I just registered today. Am I better off depositing and subscribing tomorrow morning or on 6 Sep?