UOB ONE Account

[Min Min]

I did some reverse math and it seems like the $124.68 is based on 15 days out of 31 days in August based on the MAB of $75243.93. not sure if you may have mixed up your dates? seems like the account opening date and $100k pumped in not the same which is why MAB is not $100k.

I did both at the branch same time
I have sent uob an email to enquire to find out the details

 

[vsvs24]

I did both at the branch same time
I have sent uob an email to enquire to find out the details

You deposit by post-dated cheque ? What is the posting date in transaction history ?

Any movement other than the $100k deposit ?

 

[saintgtril]

Hi all, please share the formula for the monthly average balance. Appreciated!

 

[hyperfuse]

Hi all, please share the formula for the monthly average balance. Appreciated!

whats this monthly average balance about haha.. so cheem.

Just put in $100k in uob one.. salary credit and spend $500 on an eligible credit card...and u get about $420+ interest equivalent to 5 percent per annum in Effective interest rate. Nothing complicated about it haha..

 

[edwinksl]

Hi all, please share the formula for the monthly average balance. Appreciated!

This information is easily found at https://www.uob.com.sg/personal/save/everyday-accounts/one-account.page:

Base Interest is calculated at the end of each day based on each day-end balance and Bonus Interest is calculated at the end of each calendar month based on the monthly average balance. Monthly average balance is the summation of each day end balance for each month divided by the number of calendar days for that month.

 

[hyperfuse]

Min Min kept 100k for less than number of days he opened due to value date (sunday and possibly cheque), so need to know how to calculate ADB/MAB. If you dun maintain your account FD-like, also need to calculate.

Can share how you spend 500 on cc so you get free money?

wah so cheem. this uob one account to me is just to get the EIR of 5 percent. i nv touch this account at all. treat it like FD.

oh $500 spend is very simple for me bro... i am married with kids. use it for groceries + food. if i dabao food, my cc is always linked to shopback pay + kopitiam app. But more is for groceries.

I also paying necessary bills like SP bills, my geneco electricity bills, m1 internet and phone bills. ( i have m1 multi service saver so my relatives use my account to enjoy 30 percent off their bills. they will just ibank transfer me their bill every end of the month and i use my uob one to pay) But even if they dont. i sure hit $500 per month because....i generally do some buying and selling of stuff.. each month for sure spend more than 3k to 10k. i use alot credit cards to maximise cashback as well. so spending $500 not an issue.

 

[Min Min]

Thank you, my spending is low, the best I can go is 4.6%

haha it’s easy to spend more than 500 as seen in my SS cos I female, I just spam at shopee more than $500 easily with almost everything I need. Then I order grabfood a fair bit too so I defo getting the extra % as well

get your gf or wife to buy at shopee if possible

 

[Min Min]

High possibility Min Min deposited a cheque on Sunday which takes at least 2 days to clear and also withdrawn some monies from 20th to 31 Aug causing the MAB/ADB to drop from 100k to 75k+ (account opened for 12 days but deposit valued date only less than 10days?)

nope I did a instant transfer from DBS to uob on the spot

 

[Min Min]

You deposit by post-dated cheque ? What is the posting date in transaction history ?

Any movement other than the $100k deposit ?

nope just instant trf from DBS to UOB cos required fresh funds of 100k to get max tier and no movement out except for salary crediting

 

[royalmix]

haha it’s easy to spend more than 500 as seen in my SS cos I female, I just spam at shopee more than $500 easily with almost everything I need. Then I order grabfood a fair bit too so I defo getting the extra % as well

get your gf or wife to buy at shopee if possible

To me is not worth to force spending! I prefer "free money". Thank you.

 

[Min Min]

To me is not worth to force spending! I prefer "free money". Thank you.

oh defo not forced spending I mean if it happens you need them and spends on them regularly as well

 

[ekardo]

Bill payment is eligible for minimum spending?

 

[hyperfuse]

Bill payment is eligible for minimum spending?

Yup. Done that long long ago and still applies to this.

 

[DevilPlate]

wah so cheem. this uob one account to me is just to get the EIR of 5 percent. i nv touch this account at all. treat it like FD.

oh $500 spend is very simple for me bro... i am married with kids. use it for groceries + food. if i dabao food, my cc is always linked to shopback pay + kopitiam app. But more is for groceries.

I also paying necessary bills like SP bills, my geneco electricity bills, m1 internet and phone bills. ( i have m1 multi service saver so my relatives use my account to enjoy 30 percent off their bills. they will just ibank transfer me their bill every end of the month and i use my uob one to pay) But even if they dont. i sure hit $500 per month because....i generally do some buying and selling of stuff.. each month for sure spend more than 3k to 10k. i use alot credit cards to maximise cashback as well. so spending $500 not an issue.

The only problem i have with uobone cc is i need to monitor and clock $500 and switch to other unlimited cashback cc…..abit troublesome and goto use an app to tabulate all tx made…..

no pain no gain hahaha

 

[hyperfuse]

The only problem i have with uobone cc is i need to monitor and clock $500 and switch to other unlimited cashback cc…..abit troublesome and goto use an app to tabulate all tx made…..

no pain no gain hahaha

Nv happen for me because I sure hit $500 within the first week of use of a month. Thereafter I switch to other cards already. Don't even need monitoring for me. Even if I do, the uon one app itself has a graph to show u how much u already accumulated. You don't need to tabulate your transactions. You probably didn't see that feature.

see. Already spend 300 plus till 4th sep. That's just 4 days. In fact I think more, just that haven't posted yet in the statement. So I don't really need to monitor, but the feature is there. U don't even need to do your calculations.

 

[DevilPlate]

Nv happen for me because I sure hit $500 within the first of use of a month. Thereafter I switch to other cards already. Don't even need monitoring for me. Even if I do, the uon one app itself has a graph to show u how much u already accumulated. You don't need to tabulate your transactions. You probably didn't see that feature.

I use that feature to double check in case some spending is not eligible…(not updated immediately for recent pending tx)

i try to stop at $500 + few dollars mah….so unless i have few bulks purchases then few days gao dim liao haha….

btw i think need smthing like 5 min tx?

 

[hyperfuse]

I use that feature to double check in case some spending is not eligible…(not updated immediately for recent pending tx)

i try to stop at $500 + few dollars mah….so unless i have few bulks purchases then few days gao dim liao haha….

btw i think need smthing like 5 min tx?

Yup I do also roughly try to stop at 500 plus. Because I use other cards are better for cashback/miles.

I every month spend alot, esp when nearing end of the year. Show u hahaha.

Range from 3k to 80+k. Last year nov I think 85k..this pic showing Dec at 79k

And all these are buying/selling that reap me profits. Not money out. Basically it comes back to me but I use own money to buy first. So I reap cashbacks from various bank cards, shopback, brand memberships credits etc etc. Max out cashback cards that I have to use my wife cards too to get more cashbacks.

 

[DevilPlate]

Yup I do also roughly try to stop at 500 plus. Because I use other cards are better for cashback/miles.

I every month spend alot, esp when nearing end of the year. Show u hahaha.

Range from 3k to 80+k. Last year nov I think 85k..this pic showing Dec at 79k

And all these are buying/selling that reap me profits. Not money out. Basically it comes back to me but I use own money to buy first. So I reap cashbacks from various bank cards, shopback, brand memberships credits etc etc. Max out cashback cards that I have to use my wife cards too to get more cashbacks.

U doing some ecommerce biz ar?

 

[hyperfuse]

U doing some ecommerce biz ar?

Something like that. Just via carousel. Hehe

So if u ask me whether investing or buy stocks is better, I will say buying/selling hype products is way better. Gets u profits much faster and more than investing..which is pretty slow.

And all I do is sit at home and click click click. The most is just go downstairs when the buyer wanna collect or get the item directly delivered via the brand courier.

Anyway too much info. Hahaha. later mod remove comment again. ok back to topic.

 

[chaiscool]

Something like that. Just via carousel. Hehe

So if u ask me whether investing or buy stocks is better, I will say buying/selling hype products is way better. Gets u profits much faster and more than investing..which is pretty slow.

And all I do is sit at home and click click click. The most is just go downstairs when the buyer wanna collect or get the item directly delivered via the brand courier.

Anyway too much info. Hahaha. later mod remove comment again. ok back to topic.

Scalper spotted haha