UOB ONE Account

[chiokcc]

ONE account still good lah if you are already crediting salary and able to meet $500 CC spend.

Remember the deposit amount is not "tied" up as compared with FD. So liquidity still there ....

 

[silverbomb]

According to the counter staff who went in to check with his colleague, only ‘entertainment’ expenses count towards the spending. So it’s up to them to decide if your expenses are counted as ‘entertainment’ expenses.

i noticed a lot of your counter/bank experience gives very vague and open responses. i think you can start to learn to read TNCs and get a better understanding. i don't fully rely on CSO/bank staffs. only when need clarify then i call them. most of us learn this way.

who the hell says only entertainment only sia. there's more than entertainment. just rem, we always always are more concerned with the excluded MCC codes transaction and the listed list of merchants/types of transactions they don't consider as qualifying spends.

 

[maumu]

the thing with UOB is... their CSOs are really poor in knowing their internal products. from eligible spends to terms and conditions, I've gotten wrong answers from them from time to time...

the safest way always seems to be "try with small amount/transaction and then get the MCC code from CSO before confirming whether eligible/ineligible".

at the end of the day they will still go back to the 'system' to confirm if the MCC generated is in or not in the exclusion list.

 

[sgreview]

I've closed this UOB One account at the branch, previously had set up 3 GIRO deductions for UOB credit card and DBS credit cards to enjoy the bonus interest rate. I asked UOB bank teller can also cancel these giro arrangements, she said she can only help me close the account, she can't see/help for the rest relating to credit cards/GIRO.

I logged in to DBS IB, went to "cancel GIRO arrangements", but those are the GIRO setup under DBS bank accounts. Can't find anything arranged to giro from UOB account. Is it once uob bank account is closed, all GIRO arrangements from this acc will cease automatically? Anyone with similar situation can advise if need to or how to cancel these GIRO arrangements?

 

[maumu]

I've closed this UOB One account at the branch, previously had set up 3 GIRO deductions for UOB credit card and DBS credit cards to enjoy the bonus interest rate. I asked UOB bank teller can also cancel these giro arrangements, she said she can only help me close the account, she can't see/help for the rest relating to credit cards/GIRO.

I logged in to DBS IB, went to "cancel GIRO arrangements", but those are the GIRO setup under DBS bank accounts. Can't find anything arranged to giro from UOB account. Is it once uob bank account is closed, all GIRO arrangements from this acc will cease automatically? Anyone with similar situation can advise if need to or how to cancel these GIRO arrangements?

You can easily cancel/terminate GIRO arrangements by using the UOB iBanking website.

 

[sgreview]

You can easily cancel/terminate GIRO arrangements by using the UOB iBanking website.

Not sure if the below is what u meant:
Just logged in to UOB iBanking website, "Pay and Transfer" > "Upcoming Payments" > "Giro", it showed "No records found".

Logically, once bank account is closed, all related Giro arrangements should be terminated as well. Just wondering did I miss anything? Coz dun wish to see any hiccups in future

Add-on: live chatted with UOB, staff confirm all arrangements will be forfeited once account is closed. Only have to liase with merchants to change/setup new payment methods if u still need.

 

[undead90]

Hi,
Tried to apply GIRO for UOB credit cards via internet banking. Upon the application, i received
"Successful. Your GIRO Arrangement application for UOB Card Centre (Full Payment) is complete".

However, at GIRO Tab in Upcoming Transfers & Payments, i couldn't find the Giro arrangement. The only GIRO arrangement i have is e-giro to Grab wallet.

It is normal?

 

[Mickey01]

Hi,
Tried to apply GIRO for UOB credit cards via internet banking. Upon the application, i received
"Successful. Your GIRO Arrangement application for UOB Card Centre (Full Payment) is complete".

However, at GIRO Tab in Upcoming Transfers & Payments, i couldn't find the Giro arrangement. The only GIRO arrangement i have is e-giro to Grab wallet.

It is normal?

the GIRO although approved will only be effective next card statement. The GIRO method of payment should be indicated in next statement.

 

[undead90]

the GIRO although approved will only be effective next card statement. The GIRO method of payment should be indicated in next statement.

Thank you so much

 

[reiser]

Is anyone doing their Stash Your Cash promotion?

It says:

Receive S$450 cash reward for every S$50,000 in Incremental Fresh Funds deposited, up to a total of S$9,000 when you keep on stashing! Reward is capped at S$9,000 for S$1,000,000 in Incremental Fresh Funds deposited.

Incremental Fresh Funds are measured against your UOB Stash Account’s Monthly Average Balance as at 31 August 2022 and will be earmarked till 14 April 2023.

Does it mean as long as I put in $50k for the month/s after Aug 2022, I will get $450? Sounds too good to be true.

What happens if I put in for one month and withdraw all for another bank’s promotion for the other month? Does it mean I just don’t get the $450 for that month that I withdraw all?

 

[maumu]

Is anyone doing their Stash Your Cash promotion?

It says:

Receive S$450 cash reward for every S$50,000 in Incremental Fresh Funds deposited, up to a total of S$9,000 when you keep on stashing! Reward is capped at S$9,000 for S$1,000,000 in Incremental Fresh Funds deposited.

Incremental Fresh Funds are measured against your UOB Stash Account’s Monthly Average Balance as at 31 August 2022 and will be earmarked till 14 April 2023.

Does it mean as long as I put in $50k for the month/s after Aug 2022, I will get $450? Sounds too good to be true.

What happens if I put in for one month and withdraw all for another bank’s promotion for the other month? Does it mean I just don’t get the $450 for that month that I withdraw all?

do you understand the concept of "earmark"?

"Incremental Fresh Funds are measured against your UOB Stash Account’s Monthly Average Balance as at 31 August 2022 and will be earmarked till 14 April 2023."

the bank won't be so stupid to let you release your funds the next month...

 

[reiser]

do you understand the concept of "earmark"?

"Incremental Fresh Funds are measured against your UOB Stash Account’s Monthly Average Balance as at 31 August 2022 and will be earmarked till 14 April 2023."

the bank won't be so stupid to let you release your funds the next month...

I see. I didn’t understand what “earmarked” means for banks. Thanks! But it sounds good to have $450 per month as ‘interest’ if you are able to put in $50k per month?

 

[Trazora]

I see. I didn’t understand what “earmarked” means for banks. Thanks! But it sounds good to have $450 per month as ‘interest’ if you are able to put in $50k per month?

it is one time $450 for whole period, cannot withdraw till 14 Apr 2023

 

[maumu]

I see. I didn’t understand what “earmarked” means for banks. Thanks! But it sounds good to have $450 per month as ‘interest’ if you are able to put in $50k per month?

let's say you put in $50k and it gets locked until April... so that's around 6 months.

A FD 6-mth could possibly get you around 2.5% to 2.8% now, t-bill even higher.. say 3.5%.

$450 x 2 / $50k = 1.8%

you do the math... you know it's not going to be as attractive as compared to the rest. the promotion is targeting those who're not into buying FD/t-bills/SSB.

 

[reiser]

It seems to state that for every $50k put in, you get $450, not one-time only?

One month $450 I thought is very good interest? 6 months is $2700? But need to have additional $50k to put in every month lah.

 

[maumu]

$450 x 2 / $50k = 1.8%
$900 x 2 / $100k = 1.8%
$1350 x 2 / $150k = 1.8%
...

regardless how many times of $50k you put, it's still 1.8%

the promotion ends 31 October, so you have to put all in by the end of this month. not every month.

 

[reiser]

$450 x 2 / $50k = 1.8%
$900 x 2 / $100k = 1.8%
$1350 x 2 / $150k = 1.8%
...

regardless how many times of $50k you put, it's still 1.8%

the promotion ends 31 October, so you have to put all in by the end of this month. not every month.

I see. Thanks! Then I am glad I didn’t miss out on what I thought was a ‘good’ deal.

 

[jywy2005]

This one is like FD for 6 mths. Some other banks offer higher rates.

 

[BavarianMotorWorks]

Hi there, does anyone know if UOB will charge a fall-below fee if I maintain a balance of $0 in the account?

For OCBC, I understand they won’t charge a fee for it but will close your account in 6 months if there are no new funds going in.

 

[Disaresta]

Hi there, does anyone know if UOB will charge a fall-below fee if I maintain a balance of $0 in the account?

For OCBC, I understand they won’t charge a fee for it but will close your account in 6 months if there are no new funds going in.

$5 fee if monthly average balance fall below $1000.