UOB ONE Account

[badsector]

When does the bonus interest for UOB One account usually gets credit in?

2nd working day. it's credited now.

 

[jeffong]

UOB is fast becoming a joke in the industry. Even the new Trust bank is able to offer a higher interest for deposits up to 50k without all the nonsense rules. Wonder if they have to backtrack and revise rates for a 3rd time.

 

[maumu]

their customer service (phone) is really bad these days. they don't even sound local if you managed to speak to one...

am still waiting for their call back since the request yesterday morning.

their latest increase is not that bad if you don't mind crediting your salary and parking $100k with them.

 

[GotBetrayed]

their customer service (phone) is really bad these days. they don't even sound local if you managed to speak to one...

am still waiting for their call back since the request yesterday morning.

their latest increase is not that bad if you don't mind crediting your salary and parking $100k with them.

Still rubbish rate, even their own FD is 2.6% now. The 100k with all the nonsense EIR only 2.145%.

 

[maumu]

Still rubbish rate, even their own FD is 2.6% now. The 100k with all the nonsense EIR only 2.145%.

to me it's easier than DBS multiplier... which needs to clock so many different things to get 1.9% for $100k.

but anyway now's not the time to park with any of the local banks because there're so many better options out there.

RHB (4.2 - 4.5%) > EGA (2 - 3%) > eSaver (1.8 - 2.2%) > Singlife (2 - 2.5%, only for $10k sadly)

and there's also 6-mth T-bills... so short term wise the local banks will likely be bleeding cash because people in the know will move out to park elsewhere.

they're rolling out higher rates for FDs in an attempt to lock in our money instead of trying to increase the savings rates. that's how I see it.

 

[vsvs24]

The 3 local banks all have motives. UOB wants your salary credited. The other 2 also want investment and insurance

 

[Emolisher]

Bonus is in! Nice..double of last month haha

 

[reiser]

Just found out another misinformation given by the bank counter staff. I asked if the spend tracker would take into account the payments I had made on 30 and 31 Aug since they were done in August but the payments were ‘Pending’ on the transaction history. The guy said they were counted since the spending was done in August. I just realised they are not counted for August. Instead, my 30 and 31 August are counted towards September spending.

So my August Paywave spending only fell short by $10 and I missed my interest.

Never met a bank as lousy as UOB.

 

[Cumzilla]

Just found out another misinformation given by the bank counter staff. I asked if the spend tracker would take into account the payments I had made on 30 and 31 Aug since they were done in August but the payments were ‘Pending’ on the transaction history. The guy said they were counted since the spending was done in August. I just realised they are not counted for August. Instead, my 30 and 31 August are counted towards September spending.

So my August Paywave spending only fell short by $10 and I missed my interest.

Never met a bank as lousy as UOB.

Avoid spending towards end of the month in order to meet the min spend, I believe most had gone thru this 'hard lesson' before. The 'posted dates' will either fall within the same month or carry over if transactions done on the last 2 or even last 3 days, especially if its weekend or PH, and their reply will always be due to merchants, nothing to do with the bank.

 

[reiser]

Avoid spending towards end of the month in order to meet the min spend, I believe most had gone thru this 'hard lesson' before. The 'posted dates' will either fall within the same month or carry over if transactions done on the last 2 or even last 3 days, especially if its weekend or PH, and their reply will always be due to merchants, nothing to do with the bank.

I only knew that spending via NETS do not count towards the spend in the last few days and about $200 of my Paywave transactions also didn’t seem to go through until I went to ask UOB repeatedly. So I wasn’t able to track exactly how much I had to spend to make up the $500. I didn’t want to go out and spend $300 on things I didn’t need when I didn’t even know if the transactions would go through, just to earn the interest. And I was being put on a wild goose chase when I asked for someone to answer my queries.

After such an awful experience with UOB, where the monthly interest is the only saving grace, and yet I had to miss out on it due to the bank staff’s incompetence and ignorance, I am on the lookout for another bank to put my money in.

 

[testingabc]

Now RHB High Yield and CIMB Fastsaver so easy and high interest, why people still stuck at accounts that require so much loops and category de.

 

[Cumzilla]

Now RHB High Yield and CIMB Fastsaver so easy and high interest, why people still stuck at accounts that require so much loops and category de.

Did i miss something for the RHB one? the EIR for the 1st 75K is just 1.23%...

 

[testingabc]

Did i miss something for the RHB one? the EIR for the 1st 75K is just 1.23%...

https://rhbgroup.com.sg/rhb
up to 5.5% yo

 

[reiser]

Now RHB High Yield and CIMB Fastsaver so easy and high interest, why people still stuck at accounts that require so much loops and category de.

Because these banks don’t have atms and branches all over the island? There are times when you still need cash and liquidity.

 

[testingabc]

Because these banks don’t have atms and branches all over the island? There are times when you still need cash and liquidity.

well i got min $500 in 1 of the popular bank, the rest can go earn for more rates, but up to you

 

[Cumzilla]

https://rhbgroup.com.sg/rhb
up to 5.5% yo

got it after reading the details

 

[maumu]

Because these banks don’t have atms and branches all over the island? There are times when you still need cash and liquidity.

with FAST... you don't need to use their own ATM (if any). just FAST to any other more popular banks like the local banks or even SC/Maybank/HSBC and then cash out if you need.

unless you are the kind that need to withdraw more than $100k a day...

 

[Sausage]

anyone saw the new UOB promo where they give you $580 for a deposit of $200k in new funds, valid till oct 31 2022? Sounds good but is it as easy as it sounds? In the same promo they say you can also refer friends and get $30 for every successful referral, but no mention of whether this referral is a condition to get the $580 or is totally separate.

 

[Mickey01]

The 3 local banks all have motives. UOB wants your salary credited. The other 2 also want investment and insurance

The new UOB salary credit and card spend is in direction competition with OCBC 360 Account. And UOB ONE interest seems to be more competitive now.

 

[Mickey01]

I only knew that spending via NETS do not count towards the spend in the last few days and about $200 of my Paywave transactions also didn’t seem to go through until I went to ask UOB repeatedly. So I wasn’t able to track exactly how much I had to spend to make up the $500. I didn’t want to go out and spend $300 on things I didn’t need when I didn’t even know if the transactions would go through, just to earn the interest. And I was being put on a wild goose chase when I asked for someone to answer my queries.

After such an awful experience with UOB, where the monthly interest is the only saving grace, and yet I had to miss out on it due to the bank staff’s incompetence and ignorance, I am on the lookout for another bank to put my money in.

Honestly ... NETS transaction are excluded from cashback/miles reward for many banks rewards program. For UOB, under clause 5, examples of excluded transactions are listed and NETSFLASHPAY is one of them. Anyway, whether you are using Debit Card or Credit Card and avoid the cashier misunderstand you, I will just inform the cashier PAYWAVE. If their terminal is not equipped with that function (which some retailers have the old terminals or the retailers are not willing to pay for the higher monthly rental cost) they will usually inform NO PAYWAVE which I will then switch to my phone instead and use the NETS function with my POSB Everyday card.