UOB ONE Account

[vsvs24]

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.

Nowadays got more choices and have those that don't require salary, card spend, invest, insure.

The latest being RHB which is super attractive. Won't bother with those that require so much action.

 

[vsvs24]

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.

If no paywave means cannot tap. Just insert the card into the terminal and it is still under credit/debit card and not NETS.

 

[reiser]

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.

I trusted what the bank staff told me and I didn’t know there was tnc to check out. I didn’t know it would be so tricky to accumulate spending because I didn’t have any problems with OCBC 360 previously. I didn’t even read the tnc for OCBC, DBS/POSB and Maybank for years. In fact, for the whole of my life, I had never checked out any banks’ tnc since the bank staff I had encountered by far were usually well-equipped to answer every query and did not have to resort to telling half-truths to get me to use their services.

UOB is really an eye-opener for me.

 

[Mickey01]

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.

which account?

 

[sohguanh]

Nowadays got more choices and have those that don't require salary, card spend, invest, insure.

The latest being RHB which is super attractive. Won't bother with those that require so much action.

That is correct. Do 1 2 3 etc then chase bank if they never credit make you feel like beggar chase for monies

 

[Mickey01]

If no paywave means cannot tap. Just insert the card into the terminal and it is still under credit/debit card and not NETS.

there is a chance of becoming NETS with the insert chip ... esp if the cashier is the blur type

 

[Mickey01]

I trusted what the bank staff told me and I didn’t know there was tnc to check out. I didn’t know it would be so tricky to accumulate spending because I didn’t have any problems with OCBC 360 previously. I didn’t even read the tnc for OCBC, DBS/POSB and Maybank for years. In fact, for the whole of my life, I had never checked out any banks’ tnc since the bank staff I had encountered by far were usually well-equipped to answer every query and did not have to resort to telling half-truths to get me to use their services.

UOB is really an eye-opener for me.

I'm so different from you. I will usually read the TnCs most of the time before I apply for something ... esp financial products

 

[Mickey01]

I trusted what the bank staff told me and I didn’t know there was tnc to check out. I didn’t know it would be so tricky to accumulate spending because I didn’t have any problems with OCBC 360 previously. I didn’t even read the tnc for OCBC, DBS/POSB and Maybank for years. In fact, for the whole of my life, I had never checked out any banks’ tnc since the bank staff I had encountered by far were usually well-equipped to answer every query and did not have to resort to telling half-truths to get me to use their services.

UOB is really an eye-opener for me.

seems like UOB ONE account & UOB card is not for you. For that amount of anguish and bad blood towards UOB, I suggest you lead a happy life and revert back to OCBC, DBS/POSB and Maybank

 

[maumu]

I'm forced to skip spending for the next two months with UOB One because they refused to help when an unexpected sum of refund came in on the last day of August and as a result it went below the min. spend (not a small sum).

Can't rage quit because they still yet to credit me the outstanding $200 for the rebate for the previous quarter.

Guess calculating rebate by quarters has shown it's ugly side afterall, as opined by some fellow users.

 

[reiser]

I'm so different from you. I will usually read the TnCs most of the time before I apply for something ... esp financial products

If tncs are not so complicated and rigged with technical language and numbers, I would read them too. As it was, I read the tnc of UOB One Account but the UOB staff also didn’t know anything about it. So reading tnc obviously doesn’t help me at all when it comes to UOB.

Yeah, I am actively looking out for other bank savings accounts indeed. If UOB can make me so unhappy within a few short months of using it, it’s probably not for me.

I don’t want to make a sweeping statement but the UOB staff I have encountered are mostly deceitful, ignorant or incompetent. I already felt uncomfortable putting my money with a bank with so many liars. Their ignorance and apathetic attitude towards their job is a whole new level. It makes me feel that they are unhappy working there.

 

[Mickey01]

I'm forced to skip spending for the next two months with UOB One because they refused to help when an unexpected sum of refund came in on the last day of August and as a result it went below the min. spend (not a small sum).

Can't rage quit because they still yet to credit me the outstanding $200 for the rebate for the previous quarter.

Guess calculating rebate by quarters has shown it's ugly side afterall, as opined by some fellow users.

yes ... the quarterly rebate thing is a downside. But the previous 5% for the $2000 cat is very attractive combined with UOB ONE account. But since they revised the $2000 cat to 3.33% and further revised the TnCs from 1st Aug, I quit using the ONE card and withdraw my funds from ONE from 1st Jul 2022 (my quarter end was Jun 2022).

 

[maumu]

yes ... the quarterly rebate thing is a downside. But the previous 5% for the $2000 cat is very attractive combined with UOB ONE account. But since they revised the $2000 cat to 3.33% and further revised the TnCs from 1st Aug, I quit using the ONE card and withdraw my funds from ONE from 1st Jul 2022 (my quarter end was Jun 2022).

which card did you move to? do recommend... I'm not a big spender though, especially since can't use cardup/ipaymy anymore.

 

[Mickey01]

which card did you move to? do recommend... I'm not a big spender though, especially since can't use cardup/ipaymy anymore.

i retrieved my SCB SPREE card from my drawer and pair it with HXXX payment. 2% anything paywave or online in SGD. foreign currency online is 3%. local non paywave 1%. recurring payment no cashback and the usual exclusions. I think the max per month is $30 per month. I also used my Hxxx Advance card for day to day. For petrol i'm using SPC so I pair it with Amex Tru Cashback card. There was an offer running from Jan 2022 to Dec 2022 for an additional 7.1% cashback for SPC and this replaces my UOB ONE with SPC perfectly.

 

[CrashWire]

i retrieved my SCB SPREE card from my drawer and pair it with HXXX payment. 2% anything paywave or online in SGD. foreign currency online is 3%. local non paywave 1%. recurring payment no cashback and the usual exclusions. I think the max per month is $30 per month. I also used my Hxxx Advance card for day to day.

Why do you keep censoring HSBC?

 

[chiokcc]

https://www.uob.com.sg/personal/save/everyday-accounts/one-account.page
From 01 Aug 2022, if you spend min. $500 on eligible CC spend and credit your salary, and has $100k in UOB one acct, the bonus interest per month should be :


28 days in the month = $54.65 + $56.57 [1st $75k + next $25k]
29 days in the month = $56.60 + $58.59
30 days in the month = $58.56 + $60.61
31 days in the month = $60.51 + $62.63

Not bad, I was off by 1cent in the calculation for August (31 days) ......

 

[chiokcc]

https://forums.hardwarezone.com.sg/threads/uob-one-account.5037662/post-143576245
From 01 Sep 2022, if you spend min. $500 on eligible CC spend and credit your salary, and has $100k in UOB one acct, the bonus interest per month should be :

28 days in the month = $160.71
29 days in the month = $166.45
30 days in the month = $172.19
31 days in the month = $177.93

 

[Mickey01]

Why do you keep censoring HSBC?

ha ha ha ... not censored lah. Most here know this famous bank .

 

[GotBetrayed]

https://forums.hardwarezone.com.sg/threads/uob-one-account.5037662/post-143576245
From 01 Sep 2022, if you spend min. $500 on eligible CC spend and credit your salary, and has $100k in UOB one acct, the bonus interest per month should be :

28 days in the month = $160.71
29 days in the month = $166.45
30 days in the month = $172.19
31 days in the month = $177.93

Ok la still lower than FD. Should at least match their FD EIR 2.6% or higher with all these salary credit and card spend stuff. I find UOB evol to be very good, every month consistently get back $40 on top of interest. I use UOB one card as secondary now.

 

[AlvinDj]

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

IMHO, not very fair to compare with a 1year FD lah..

One is purely liquid vs lock-up for 365 days....

Ok la still lower than FD. Should at least match their FD EIR 2.6% or higher with all these salary credit and card spend stuff. I find UOB evol to be very good, every month consistently get back $40 on top of interest. I use UOB one card as secondary now.

If all current / saving account's rate matches FD, then what's the point of banks offering FD to lock up your $ for months or even years?

 

[BBQ99]

They have another 2.7% for 15mth FD. I just found out today when I want to cancel my 2.4% FD to update to the 12mth 2.6% FD. The 2.7% currently is not shown in website. But I think dun put too much yet. I believe will raise further since BEA is 2.88%pa FD for 12mth now.