Singlife Account

[crystalnox]

how fast does the $ reach bank acct after withdrawal?

anywhere from 1hr to 3 days.

 

[sellbuyboy]

anywhere from 1hr to 3 days.

thanks a lot. $100 to remain inside right?

 

[reddevil0728]

thanks a lot. $100 to remain inside right?

Can be faster heng suay.

yes. The withdrawal page no say?

 

[sellbuyboy]

Can be faster heng suay.

yes. The withdrawal page no say?

thanks yay!

 

[~sabaisabai~]

Aug last year I asked Singlife, they say no need $100. I withdraw everything and they didn’t close my account.

withdraw all and nothing inside, still not close? i think need to instruct them to close?

 

[reddevil0728]

withdraw all and nothing inside, still not close? i think need to instruct them to close?

Yes separate thing

 

[cassowary18]

Does topping up revolut card using singlife debit card consider spending? I've topped up since yesterday morning and till now tracker doesn't move.

Yes it does but Revolut not the best option since if you withdraw immediately after topping up you will kena warning. Best is use Grab.

 

[hisokaomi]

Yes it does but Revolut not the best option since if you withdraw immediately after topping up you will kena warning. Best is use Grab.

Got it, I'll probably leave the money in revolut for a few days before withdraw out... i was avoiding grab if possible as I don't want to hit its spending limit before this year ends. Thanks..

 

[maumu]

Yes it does but Revolut not the best option since if you withdraw immediately after topping up you will kena warning. Best is use Grab.

that's new. I didn't get any warning message from Revolut when I withdraw immediately after topping up... is this new?

 

[crystalnox]

that's new. I didn't get any warning message from Revolut when I withdraw immediately after topping up... is this new?

Bank topups can be withdrawn without any issues, it’s the card top ups that Revolut frowns upon. The warning depends on how much you withdraw after topping up with card, debit cards are also less of an issue but best not to risk it.

 

[IronMan123]

If I want to terminate the account, do I have to wait until month-end when interest really credit into the account?

 

[reddevil0728]

If I want to terminate the account, do I have to wait until month-end when interest really credit into the account?

why don't just maintain $100? since this account is quite flexible.

 

[vegavega25]

If I want to terminate the account, do I have to wait until month-end when interest really credit into the account?

No, interest accured until (inclusive of) the previous day will be included in the surrender value/withdrawal.

 

[vegavega25]

why don't just maintain $100? since this account is quite flexible.

True.

But the simplest reason could be a desire to consolidate funds across accounts and wanting to have fewer financial products/accounts/firms to keep track of.

SingLife has fallen well behind its peers in terms of their interest rate, and there are currently options like T-Bills, SSBs, various FDs to lock in a higher rate for a period of time, and even CIMB and DBS Multiplier accounts for the immediate/short-term.

 

[maumu]

...
SingLife has fallen well behind its peers in terms of their interest rate, and there are currently options like T-Bills, SSBs, various FDs to lock in a higher rate for a period of time, and even CIMB and DBS Multiplier accounts for the immediate/short-term.

true. am dumping this account next month (even with 1.5% using g*** top-up every month to qualify for the additional 0.5%, it's not as good as the banks).

they need to up their game...

 

[tiertime]

true. am dumping this account next month (even with 1.5% using g*** top-up every month to qualify for the additional 0.5%, it's not as good as the banks).

they need to up their game...

but still need to spread the eggs

 

[IronMan123]

True.

But the simplest reason could be a desire to consolidate funds across accounts and wanting to have fewer financial products/accounts/firms to keep track of.

SingLife has fallen well behind its peers in terms of their interest rate, and there are currently options like T-Bills, SSBs, various FDs to lock in a higher rate for a period of time, and even CIMB and DBS Multiplier accounts for the immediate/short-term.

Yeah, I want to reduce the multiple financial accounts to trace or keep track. 1% no longer attractive to me.

 

[reddevil0728]

True.

But the simplest reason could be a desire to consolidate funds across accounts and wanting to have fewer financial products/accounts/firms to keep track of.

SingLife has fallen well behind its peers in terms of their interest rate, and there are currently options like T-Bills, SSBs, various FDs to lock in a higher rate for a period of time, and even CIMB and DBS Multiplier accounts for the immediate/short-term.

true. am dumping this account next month (even with 1.5% using g*** top-up every month to qualify for the additional 0.5%, it's not as good as the banks).

they need to up their game...

Yeah, I want to reduce the multiple financial accounts to trace or keep track. 1% no longer attractive to me.

Well I guess it’s a judgement call.

If compared to EE and PET, makes a lot of sense to maintain this.

 

[IronMan123]

Well I guess it’s a judgement call.

If compared to EE and PET, makes a lot of sense to maintain this

My EE still give 1.2% & esaver can get bonus interest of 1.45%, so no regret to close Singlife account.

 

[reddevil0728]

My EE still give 1.2% & esaver can get bonus interest of 1.45%, so no regret to close Singlife account.

not sure about esaver...

but EE and Singlife not a very fair comparison. cannot just look at top line yield, but must also look at the features.

Singlife is almost like a bank account, but EE isn't really with the 70c paynow.

and you are assuming Singlife wouldn't increase its rate.

Not sure if it is possible to reopen the account once closed.

imagine if they really increase rate and you want to reopen cannot. so i thought maintaining $100 isn't that bad just to have the option