UOB ONE Account

[chaiscool]

My salary is credited to DBS bank and I ownself transfer to UOB thru DBS.

If I switched over to OCBC, does the transfer to OCBC from DBS works too?

It's harder for my side to change the bank account for salary credit. Might have to stick with UOB if OCBC do not consider that as salary.

Never tried with ocbc, but you can change to direct credit to ocbc then transfer to dbs then to uob.

 

[chaiscool]

OCBC 360 requires "GIRO SALA" for the salary transfer to be recognized.

Might also need from business account

 

[TyL3r_DuRd3n]

after May 1st, where are you guys parking your funds?
stick with UOB with nerfed interest rate?

 

[xoxozone]

after May 1st, where are you guys parking your funds?
stick with UOB with nerfed interest rate?

150k @ 4% + rising dragon cash credit for next 3.5 mths

 

[lls0101]

Might also need from business account

From business account is possible. That I tried in the past. Had a corporate account previously and monthly, I giro to my OCBC account, categorize it as salary. That cost $0.30 if I remembered correctly, and OCBC will recognise it as salary. But the corporate account will have an annual fee to maintain the account. Only have it as it was required for my business.

No longer have the corporate account so can't use this now...

 

[tytyty333]

For UOB Big Savings Payout Promotion, if March's MAB is 100k, then top up 150k in April for the promotion to earn a 1k bonus, how much will be embarked, 150k or 250k?

If it is 150k, can I withdraw the remaining 100k after I receive the bonus?

 

[bobby6679]

as May 1 is PH, should we top up 50k to adopt the new interest change and participate the Big Savings promotion on May 1 or another day? Seek yr advice

 

[daranic]

For UOB Big Savings Payout Promotion, if March's MAB is 100k, then top up 150k in April for the promotion to earn a 1k bonus, how much will be embarked, 150k or 250k?

If it is 150k, can I withdraw the remaining 100k after I receive the bonus?

I am thinking of that too. But instead of waiting for the bonus to be credited, which don’t know how soon it will be, can we withdraw $100k when $150k is earmarked?

 

[Mickey01]

For UOB Big Savings Payout Promotion, if March's MAB is 100k, then top up 150k in April for the promotion to earn a 1k bonus, how much will be embarked, 150k or 250k?

If it is 150k, can I withdraw the remaining 100k after I receive the bonus?

you can try ... but there is nothing to stop UOB from clawing back the cash gift when they release the earmarked funds.

I think Clause 2.9 mentioned the funds must be maintained throughout the participating periods

Your Participating Deposit will be Earmarked for the period corresponding to your Participating Deposit date or Participation Form Submission Date (whichever is later) till the Earmark End Date as set out in the table below (“Earmark Period”). “Earmarked” means that the amount deposited and cannot be withdrawn. You are required to maintain the applicable minimum Incremental Fresh Fund (i.e. the aggregate of your Account’s Monthly Average Balance for March 2024 and the Participating Deposit amount) for the full Earmark Period.

 

[iadpotato]

For UOB Big Savings Payout Promotion, if March's MAB is 100k, then top up 150k in April for the promotion to earn a 1k bonus, how much will be embarked, 150k or 250k?

If it is 150k, can I withdraw the remaining 100k after I receive the bonus?

read clause 2.9

 

[ThreeSteps]

For UOB Big Savings Payout Promotion, if March's MAB is 100k, then top up 150k in April for the promotion to earn a 1k bonus, how much will be embarked, 150k or 250k?

If it is 150k, can I withdraw the remaining 100k after I receive the bonus?

It's advisable to read the entire pages of the T&Cs:
T&Cs: https://www.uob.com.sg/web-resource...00324-:Q1SAVE24:na:na&vid=na&pid=CD07Q1SAVE24

point#2.3(i) of t&cs - what is "participating deposit"
point#2.4 of t&cs "cash credit"
point#2.9 of t&cs "earmark" explanation
You have to submit a Participation form, can contact the bank to get some help in filling up the form.
From my own understanding of the t&cs, your earmark amount should be $250k

 

[camholicx]

its confused.

$100k - $149k - Interest is 4.5% only ?

 

[ChrisL82]

My salary is credited to DBS bank and I ownself transfer to UOB thru DBS.

If I switched over to OCBC, does the transfer to OCBC from DBS works too?

It's harder for my side to change the bank account for salary credit. Might have to stick with UOB if OCBC do not consider that as salary.

For uob salary credit, as long as the transferor (the bank) allows a salary payment as purpose, (works for BOC) it should go through and recognised as salary credit. OCBC and many other banks are stricter I believe.

 

[MiloMocha]

as May 1 is PH, should we top up 50k to adopt the new interest change and participate the Big Savings promotion on May 1 or another day? Seek yr advice

As May 1 is a PH, the deposit will only be valued on May 2, so you will have to deposit more if you want to earn the max EIR.

 

[MiloMocha]

For UOB Big Savings Payout Promotion, if March's MAB is 100k, then top up 150k in April for the promotion to earn a 1k bonus, how much will be embarked, 150k or 250k?

If it is 150k, can I withdraw the remaining 100k after I receive the bonus?

According to the TnC clause 2.9 -
You are required to maintain the applicable minimum Incremental Fresh Fund (i.e. the aggregate of your Account’s Monthly Average Balance for March 2024 and the Participating Deposit amount) for the full Earmark Period.

 

[MiloMocha]

I am thinking of that too. But instead of waiting for the bonus to be credited, which don’t know how soon it will be, can we withdraw $100k when $150k is earmarked?

It will be credited the same day when your fund is earmarked, based on past experience.

 

[MiloMocha]

its confused.

$100k - $149k - Interest is 4.5% only ?

The interest rate of 4.5% applies to the balance range of $75,001 to $125,000, specifically for the $50,000 within that range.

 

[bobby6679]

As May 1 is a PH, the deposit will only be valued on May 2, so you will have to deposit more if you want to earn the max EIR.

Which means if I top us 50k on May 1, it is counted as 0 on that day? So the proper way is to top up 100k on May 2 and withdraw 50k on May 3?

 

[MiloMocha]

Which means if I top us 50k on May 1, it is counted as 0 on that day? So the proper way is to top up 100k on May 2 and withdraw 50k on May 3?

Actually, it depends on your total balance. From May 1, the interest rate for the first $30,000, next $30,000, and next $15,000 remains consistent at 3%. There is no difference in the interest rate for any balance amount below $75,000.

 

[wenguang]

Which means if I top us 50k on May 1, it is counted as 0 on that day? So the proper way is to top up 100k on May 2 and withdraw 50k on May 3?

correct, as long as you plan your adb in may to be 150k