UOB ONE Account

[wts2013]

I have also requested My HR to credit Jan 2016 salary to this account in future.

I have a few questions (as i would like to achieve the max interest returns) and would like seniors advice ;

1) I got the debit card as the account is activated.
The bank lady suggest that i start using the card in order i get the
1 percent? I thought 2.43 % if i am to start using the card ?

If u have less than 10k it is 1%, if u keep 50k daily, it is 1.6% with card spend and 2.43% with salary credit or 3 giros.

2) When would the bank kick start and cut off period of the interest of my
savings to 2.43 % ? Is it after achieve S$500 on my debit card ?

From the day u deposit the money, for every day of the mth if u meet the requirements of card spend and salary credit or 3 giros

3) This debit card is like an ATM ? Can withdraw money at ATM consider
spend ? or Is it function as a debit the card ?
(ie. top up cash card consider spending or no ?)
(ie. withdraw S$500 cash at atm consider spend?)

Only visa charges to the debit card

4) To get max return, Is it better to have say 52-55k in total in the account
or so ?
ie to say debit away the credit card spending + giro spendings
(ie to say balance 50k always)

Daily balance of 50k

5) Is it better to wait till my ONE credit card is here then spend
S$2000 or spend S$500 on the debit card first ?

If u can wait for your credit card and spend it before end of mth, unless u dun get your credit card 1 week before mthend then use your debit card, only a suggestion.

 

[frustrateddude]

answer for another thread

 

[kyteo79]

I have also requested My HR to credit Jan 2016 salary to this account in future.

I have a few questions (as i would like to achieve the max interest returns) and would like seniors advice ;

1) I got the debit card as the account is activated.
The bank lady suggest that i start using the card in order i get the
1 percent? I thought 2.43 % if i am to start using the card ?

If u have less than 10k it is 1%, if u keep 50k daily, it is 1.6% with card spend and 2.43% with salary credit or 3 giros.

2) When would the bank kick start and cut off period of the interest of my
savings to 2.43 % ? Is it after achieve S$500 on my debit card ?

From the day u deposit the money, for every day of the mth if u meet the requirements of card spend and salary credit or 3 giros

3) This debit card is like an ATM ? Can withdraw money at ATM consider
spend ? or Is it function as a debit the card ?
(ie. top up cash card consider spending or no ?)
(ie. withdraw S$500 cash at atm consider spend?)

Only visa charges to the debit card

4) To get max return, Is it better to have say 52-55k in total in the account
or so ?
ie to say debit away the credit card spending + giro spendings
(ie to say balance 50k always)

Daily balance of 50k

5) Is it better to wait till my ONE credit card is here then spend
S$2000 or spend S$500 on the debit card first ?

If u can wait for your credit card and spend it before end of mth, unless u dun get your credit card 1 week before mthend then use your debit card, only a suggestion.

Many thanks for the time in replying to my noob questions.

 

[kyteo79]

Hi Seniors,

Got another question... i think i got the saving part of UOB one account understood.

Like to clarify since having following;


AA) UOB One account (purpose: parking funds - not keen to debit unless necessary) Will be credit monthly salary there. Then my intention afterwhich move the excess into the UNIPLUS savings ? is that correct or stupid move ?

BB) I got an existing UOB uniplus account for my cc bills and atm cash withdrawal, giro etc ... Worth keeping this account or should i just close this ?

CC) If BB answer is to keep the account, then should my spending on my UOB ONE credit card be debitted from UNIPLUS savings a/c or die die must from UOB ONE savings a/c to enjoy the max saving interest ?

Sorry for the noob questions ?

 

[Verbatin]

on Q4, must I maintain at least $50k everyday? or is the $50k based on weighted average balance for the month? for instance on some days I have below $50k. can I make up the shortfall by keeping amount of above $50k on other days? thanks

I have also requested My HR to credit Jan 2016 salary to this account in future.

I have a few questions (as i would like to achieve the max interest returns) and would like seniors advice ;

1) I got the debit card as the account is activated.
The bank lady suggest that i start using the card in order i get the
1 percent? I thought 2.43 % if i am to start using the card ?

If u have less than 10k it is 1%, if u keep 50k daily, it is 1.6% with card spend and 2.43% with salary credit or 3 giros.

2) When would the bank kick start and cut off period of the interest of my
savings to 2.43 % ? Is it after achieve S$500 on my debit card ?

From the day u deposit the money, for every day of the mth if u meet the requirements of card spend and salary credit or 3 giros

3) This debit card is like an ATM ? Can withdraw money at ATM consider
spend ? or Is it function as a debit the card ?
(ie. top up cash card consider spending or no ?)
(ie. withdraw S$500 cash at atm consider spend?)

Only visa charges to the debit card

4) To get max return, Is it better to have say 52-55k in total in the account
or so ?
ie to say debit away the credit card spending + giro spendings
(ie to say balance 50k always)

Daily balance of 50k

5) Is it better to wait till my ONE credit card is here then spend
S$2000 or spend S$500 on the debit card first ?

If u can wait for your credit card and spend it before end of mth, unless u dun get your credit card 1 week before mthend then use your debit card, only a suggestion.

 

[Trazora]

on Q4, must I maintain at least $50k everyday? or is the $50k based on weighted average balance for the month? for instance on some days I have below $50k. can I make up the shortfall by keeping amount of above $50k on other days? thanks

Yes, it is based on average daily balance.

 

[Trazora]

Hi Seniors,

Got another question... i think i got the saving part of UOB one account understood.

Like to clarify since having following;


AA) UOB One account (purpose: parking funds - not keen to debit unless necessary) Will be credit monthly salary there. Then my intention afterwhich move the excess into the UNIPLUS savings ? is that correct or stupid move ?

Think it depends how much excess to $50k savings you have and whether you like to manage 2 accounts in one bank or even have another account in another bank to maximize interest. 0.05% interest for savings in excess of $50k for UOB One Account. UNIPLUS savings only 0.05% to 0.2% interest. If you have quite significant excess, you can do 3 GIRO on the UOB account (instead of credit your salary) to meet the criteria for the bonus interest and consider open a OCBC 360 account or BOC smartsaver for higher interest. OCBC 360 account base (0.05%), credit salary to OCBC 360 (1.2%), pay $1 to 3 bills from OCBC 360 (0.5%), min $500 OCBC card spend (0.5%), investment (1%, not popular), incremental savings (1%). BOC smartsaver, base (2.25% to 0.4%), credit salary (1%), pay $5 to 3 bills (0.6%), spend min $500 on BOC cards (1.55%).

BB) I got an existing UOB uniplus account for my cc bills and atm cash withdrawal, giro etc ... Worth keeping this account or should i just close this ?

Same answer as AA).

CC) If BB answer is to keep the account, then should my spending on my UOB ONE credit card be debitted from UNIPLUS savings a/c or die die must from UOB ONE savings a/c to enjoy the max saving interest ?

UOB One Credit Card has a separate credit card account so your question is irrelevant. If you meant the UOB direct visa debit card, the amount debited must be from UOB ONE savings a/c and you would like to keep some excess savings in your UOB ONE savings a/c to ensure the average daily balance is just slightly more than $50k.

 

[chiokcc]

Is the UOB one card still having $300/$800/$1500 quarterly rebate tiers, as shown is this link http://uob.com.sg/personal/cards/credit/uob_one_card.html ?

Or is it $500/$1000/$2000 ?

 

[Trazora]

Is the UOB one card still having $300/$800/$1500 quarterly rebate tiers, as shown is this link http://uob.com.sg/personal/cards/credit/uob_one_card.html ?

Or is it $500/$1000/$2000 ?

It is $500/$1000/$2000

 

[arigatoast]

Is the UOB one card still having $300/$800/$1500 quarterly rebate tiers, as shown is this link http://uob.com.sg/personal/cards/credit/uob_one_card.html ?

Or is it $500/$1000/$2000 ?

$500/$1000/$2000

 

[kyteo79]

Hi Seniors,

Got another question... i think i got the saving part of UOB one account understood.

Like to clarify since having following;


AA) UOB One account (purpose: parking funds - not keen to debit unless necessary) Will be credit monthly salary there. Then my intention afterwhich move the excess into the UNIPLUS savings ? is that correct or stupid move ?

Think it depends how much excess to $50k savings you have and whether you like to manage 2 accounts in one bank or even have another account in another bank to maximize interest. 0% interest for savings in excess of $50k for UOB One Account. UNIPLUS savings only 0.05% to 0.2% interest. If you have quite significant excess, you can do 3 GIRO on the UOB account (instead of credit your salary) to meet the criteria for the bonus interest and consider open a OCBC 360 account or BOC smartsaver for higher interest. OCBC 360 account base (0.05%), credit salary to OCBC 360 (1.2%), pay $1 to 3 bills from OCBC 360 (0.5%), min $500 OCBC card spend (0.5%), investment (1%, not popular), incremental savings (1%). BOC smartsaver, base (2.25% to 0.4%), credit salary (1%), pay $5 to 3 bills (0.6%), spend min $500 on BOC cards (1.55%).

BB) I got an existing UOB uniplus account for my cc bills and atm cash withdrawal, giro etc ... Worth keeping this account or should i just close this ?

Same answer as AA).

CC) If BB answer is to keep the account, then should my spending on my UOB ONE credit card be debitted from UNIPLUS savings a/c or die die must from UOB ONE savings a/c to enjoy the max saving interest ?

UOB One Credit Card has a separate credit card account so your question is irrelevant. If you meant the UOB direct visa debit card, the amount debited must be from UOB ONE savings a/c and you would like to keep some excess savings in your UOB ONE savings a/c to ensure the average daily balance is just slightly more than $50k.

Senior Trazora,

Thanks pointers..

Likely will close the UNIPLUS a/c since in no way helping but it is very troublesome to terminate and restart GIRO ...

Or maybe make UNIPLUS account to be a intermediary account of UOB One a/c with minimium sum just to pay for all GIRO and atm withdrawals ?

**
UNIPLUS a/c interest 0.05
ONE A/c excess of 50k also 0.05 (since below 350k)

Not too sure if this looks stupid ...

 

[frustrateddude]

Is the UOB one card still having $300/$800/$1500 quarterly rebate tiers, as shown is this link http://uob.com.sg/personal/cards/credit/uob_one_card.html ?

Or is it $500/$1000/$2000 ?

http://uob.com.sg/one/

 

[frustrateddude]

Senior Trazora,

Thanks pointers..

Likely will close the UNIPLUS a/c since in no way helping but it is very troublesome to terminate and restart GIRO ...

Or maybe make UNIPLUS account to be a intermediary account of UOB One a/c with minimium sum just to pay for all GIRO and atm withdrawals ?

**
UNIPLUS a/c interest 0.05
ONE A/c excess of 50k also 0.05 (since below 350k)

Not too sure if this looks stupid ...

not forgetting $500 min need to be kept for the UNIPLUS a/c

 

[Trazora]

Senior Trazora,

Thanks pointers..

Likely will close the UNIPLUS a/c since in no way helping but it is very troublesome to terminate and restart GIRO ...

Or maybe make UNIPLUS account to be a intermediary account of UOB One a/c with minimium sum just to pay for all GIRO and atm withdrawals ?

**
UNIPLUS a/c interest 0.05
ONE A/c excess of 50k also 0.05 (since below 350k)

Not too sure if this looks stupid ...

edited my earlier post, sorry for the typo. Yes ONE A/c excess of 50k also 0.05%. so no point for UNIPLUS a/c.

 

[01asdf]

Depending on the organization, you might want to consider switching to a recurring card charge instead so it auto hits the spending tiers.

 

[Trazora]

not forgetting $500 min need to be kept for the UNIPLUS a/c

Yup, I was just charged $2 fall below fee on my uniplus account, balance now -$2 lol. (It was previously waived as I have home loan with UOB) Going to cancel it.

 

[chiokcc]

Thank you Trazora, arigatoast & frustrateddude.

Another question. I understand that for UOB one quarterly rebate, need to meet min 3 transactions per mth and min spend $500 per mth.

Let's say, I am able to use UOB one credit card for one single transaction of $500.xx every month. While I am not able to meet the min 3 transactions per mth, I am able to meet the min spend $500 per mth. How will my bonus interest be like with $50k in the UOB one account?

 

[Trazora]

Thank you Trazora, arigatoast & frustrateddude.

Another question. I understand that for UOB one quarterly rebate, need to meet min 3 transactions per mth and min spend $500 per mth.

Let's say, I am able to use UOB one credit card for one single transaction of $500.xx every month. While I am not able to meet the min 3 transactions per mth, I am able to meet the min spend $500 per mth. How will my bonus interest be like with $50k in the UOB one account?

The min 3 transactions per mth requirement is for the credit card rebate, nothing to do with the bonus interest. So once you met the $500 spending in calendar month on the credit card you will get the bonus interest.

Anyway, you should just spend tiny amounts to make up the other 2 transactions on your UOB One card so that you will get the credit card rebate also.

 

[kyteo79]

not forgetting $500 min need to be kept for the UNIPLUS a/c

thanks Guru reminder ...

I dun mind hiddening a few k here or there to avoid robbery fee of 2 dollars or 5 dollars etc etc ..

 

[kyteo79]

Thank you Trazora, arigatoast & frustrateddude.

Another question. I understand that for UOB one quarterly rebate, need to meet min 3 transactions per mth and min spend $500 per mth.

Let's say, I am able to use UOB one credit card for one single transaction of $500.xx every month. While I am not able to meet the min 3 transactions per mth, I am able to meet the min spend $500 per mth. How will my bonus interest be like with $50k in the UOB one account?

Errr ...

I help you spend ... or you can pay on behalf of your friends