UOB ONE Account

[chiokcc]

For my company, changing of bank/acct for salary crediting is self-service using company online form submission ....

Only thing is, we cannot split salary into 2 parts, each part to different bank/acct

 

[wynnest]

Anybody try before spending 500 using debit and credit card. Eg. 300 spent using debit card 200 spend using credit card to hit to 500 spending.

 

[rerear]

higher than 360?

 

[Moowoow]

Best rate in town, too bad need salary crediting to get 5% EIR

3 Giro only 3% EIR

3 giro and 500 spend earn 3%?

 

[Moowoow]

Can’t seem to find the Salary for Ocbc and dbs under paynow. So sad.

You need HR function to configure

 

[Nanonited]

Does this interest stack with the 12 days of Xmas fresh fund promo? It says 100k fresh fund earmark for 4 mths can get extra cash credit.. but i read tnc it says the amount cant be seen in statements etc for the earmark period.

Does this mean it wont be eligible for the bonus interest up to 7.8%? confused since not many here mentioning this part

 

[Nicholas92]

I always thought people say they not much savings but today I learnt many ppl got 100k lying around.

 

[mp4005 help]

I always thought people say they not much savings but today I learnt many ppl got 100k lying around.

actually more. RHB thread .. many premier holders.

the priority banking thread - everyone there even more.

 

[silverbomb]

I just enquired at UOB if I could Fast in/Paynow using the option or description of Salary. The teller went to check with her colleague inside and told me it doesn’t work as salary crediting must be done by company.

this kind of thing is ownself try one we don't shake the trees at the bank, this is what ppl do here at hwz.

 

[drkcynic]

Anybody try before spending 500 using debit and credit card. Eg. 300 spent using debit card 200 spend using credit card to hit to 500 spending.

They say ALL spends. Anyway if in doubt you can go to the app, it shows you the spends, whether clocked or not.

Spend at least S$500 on your UOB One Card and/or selected Cards monthly. What constitutes as spend?
All Visa and/or Mastercard® transactions successfully posted in the calendar month which also includes:

• All Visa and/or Mastercard retail spend on your card
• Recurring payments which covers your insurance premiums charged to your card

Selected Cards include UOB EVOL, UOB Lady’s Card+, UOB YOLO, UOB One Debit Mastercard* and UOB One Debit Visa Card* and Mighty FX Debit Card

 

[silverbomb]

For my company, changing of bank/acct for salary crediting is self-service using company online form submission ....

Only thing is, we cannot split salary into 2 parts, each part to different bank/acct

same, everything is intranet submit. so everytime change, no issues as it's semi-automated. cannot split nia.

 

[wynnest]

They say ALL spends. Anyway if in doubt you can go to the app, it shows you the spends, whether clocked or not.

Spend at least S$500 on your UOB One Card and/or selected Cards monthly. What constitutes as spend?
All Visa and/or Mastercard® transactions successfully posted in the calendar month which also includes:

• All Visa and/or Mastercard retail spend on your card
• Recurring payments which covers your insurance premiums charged to your card

Selected Cards include UOB EVOL, UOB Lady’s Card+, UOB YOLO, UOB One Debit Mastercard* and UOB One Debit Visa Card* and Mighty FX Debit Card

I don't see the interest tracker

 

[drkcynic]

I don't see the interest tracker

It's in the app. Not interested to spoonfeed. Some kind soul might come along to help you.

Good luck.

 

[addict951]

this kind of thing is ownself try one we don't shake the trees at the bank, this is what ppl do here at hwz.

I’m shocked he actually tot it could work

 

[rerear]

12 days promo need to lock 4 months, is the cash given on top of One Account's own interests payout?

Incremental Fresh Funds are measured against your Eligible Account’s day-end balance as at 31 October 2022 and earmarked for approximately 4 months.

 

[wynnest]

Any

I don't see the interest tracker

Is it need update the app? I already reinstall but still didn't see the interest tracker under Account/One Account/Details.

 

[8zaoyu]

Any

Is it need update the app? I already reinstall but still didn't see the interest tracker under Account/One Account/Details.

Try- In yr UOB transactions account, Touch UOB One Account then Details then Activities

 

[wynnest]

Try- In yr UOB transactions account, Touch UOB One Account then Details then Activities

Ya I didn't see the activities. Thanks tomorrow I will contact the customer services.

 

[silverbomb]

I’m shocked he actually tot it could work

we been here long enough over the years to see some other examples in other banking/finance products, the more ppl ask a certain thing, accelerates a certain removal fix of a certain products. needs to be more tactful in such things, not every forest is meant to be shaken. quietly walk thru the forest can alr and come out from the other end of forest in peace.

 

[8zaoyu]

A new "high interest" savings deposit that shares similar characteristics with OCBC 360 and SCB Bonus Saver.

http://www.uob.com.sg/personal/deposits/chequeing/one_account.html?s_cid=oneaccount_hp_bann

The good side of this account? No pushing of insurance products to enjoy the high interest factor.

Quick comparison

OCBC 360: Effective I/R 3.05%
currently 3.05% dropping to 2.05% in May-15. To enjoy 3.05%, hearsay is buying insurance product and step up deposit

SCB Bonus Saver - earn up to 3.88%
1.88% with $500 spent and 2% coming from the purchase of new insurance with at least 24k premium plan

UOB One Account:up to 3.33% (EIR: 2.43%)
Earn 2% from UOB credit/debit card (min. spend of $500) with salary crediting (min. $2k) OR 3 Giro transactions

Mechanics

Purely meeting $500 CC spending
Effective interest rate you earn per year is 1.6%

Meet both $500 CC spending or either of the criteria above
Effective interest rate you could earn per year is 2.43%

What is the EIR?
Since the deposit works base on tier,

first 10k you earn 1%/1.5%
Next 20k you earn 1.5%/2%
Next 30k you earn 2%/3.33%

If you maintain $50K perpetually, you can earn up to an EIR of 2.43%. The EIR will change drastically if your $50k is not fixed

To add on: the mechanics of UOB One Card
if you spend $300/$800/$1,500 monthly for 3 consecutive months, then you will earn $30/$80/$150.

sadly, if you only spend $500 for 3 consecutive months, you will only earn $30 still.

Conclusion:
If you are able to meet all the requirements in OCBC, stick with OCBC. If you have problems registering your salary with OCBC, or OCBC come out with lame requirement like buying insurance to achieve the additional 1%, UOB will be the next best bet if you have more than ~$31.2k.

If you happen to be looking for an insurance product and want to earn the most, Bonus saver 3.88% will be the best. However, if Bank cant commit to you the promotion will be for the next 20 years, why do they always want to tie us to insurance policy?

True, most cannot meet the higher Tiers and credit card spend, just stick to Trust Savings or no locked savings accounts for 2.5% will do fine. When save to a lump sum, then decide on a bank with the highest FD or like hwzoners here run round with their above $200k for high yield savings accounts, satki right.