UOB ONE Account

[MoDiE]

just try it yourself la. I tried using POSB fast transfer and it works. just put code "SALA".

sala is wrong.

 

[liquidlight]

hi , a surprise with respect to my uob one card spending . earlier this month i charged usd 200 to my uob card to pay for a annual renewal of a credential and i found that the sgd euivalent of usd 200 was considered as my charge for the sgd 500 monthly charge .. Interesting ,,..?

Happy to hear any views on the above ....cheers

if the org for the cred is a non-profit org, it might not be considered as encounter personally

 

[gobin74]

if the org for the cred is a non-profit org, it might not be considered as encounter personally

Thanks for highlighting the practical aspects of the spend and sharing your experiences . Many times these nuances can be only experienced !

This is for a commercial org and not for a non-profiit

 

[dgeralds]

I registered for the "Big savings payout" in Spr 2024 and added 50k (to existing 100K) in May 2024. I thought 50K will be earmarked today. But not yet earmarked as at now, 28 Jun 20224, 9am. Why?

 

[maumu]

any idea when will the Q3 savings promotion likely be announced? based on past promotions.

 

[ThreeSteps]

I registered for the "Big savings payout" in Spr 2024 and added 50k (to existing 100K) in May 2024. I thought 50K will be earmarked today. But not yet earmarked as at now, 28 Jun 20224, 9am. Why?

You should contact the bank to sort this out immediately. The t&cs indicate that the registration & the fund transfer should be done within the same month, but you register in April and transfer fund in May.

 

[ThreeSteps]

any idea when will the Q3 savings promotion likely be announced? based on past promotions.

They have National Day promotion in 2023, maybe they will do the same this year in July.

 

[maumu]

They have National Day promotion in 2023, maybe they will do the same this year in July.

oh I thought they would announce before 1 July. if they announce later the month, will we still be eligible if we already transferred in (say $150k) before we register for the promo?

 

[ThreeSteps]

oh I thought they would announce before 1 July. if they announce later the month, will we still be eligible if we already transferred in (say $150k) before we register for the promo?

New promo normally announce on last day of the old month or 1st day of new month eg. 30Jun (Sun) or 01Jul (Mon). Read the t&cs before you take any action for registration & fund transfer.

 

[dgeralds]

You should contact the bank to sort this out immediately. The t&cs indicate that the registration & the fund transfer should be done within the same month, but you register in April and transfer fund in May.

Thank you ThreeStep. I called the bank. For the Big Savings Promo, Mar monthly average is the base. I thought April monthly average was the base (which was wrong). I was short of 5K which I transferred just now and I was told the 50k will be earmarked before 31st July 2024. Of course I must hold the cash for 3 months(?) and cannot withdrawal after earmarked.

 

[Lonelyoldman80]

Hi all for the earmarked amount , will it affect the one account bonus ? Example (150k total , but 50k is being earmarked )

 

[ThreeSteps]

Thank you ThreeStep. I called the bank. For the Big Savings Promo, Mar monthly average is the base. I thought April monthly average was the base (which was wrong). I was short of 5K which I transferred just now and I was told the 50k will be earmarked before 31st July 2024. Of course I must hold the cash for 3 months(?) and cannot withdrawal after earmarked.

It looks like they place you into the last round (01-29 June) of this Big Savings promo - earmark by 31July & cash bonus receive by 31July, earmark end-date is 16 Oct.

 

[ThreeSteps]

Hi all for the earmarked amount , will it affect the one account bonus ? Example (150k total , but 50k is being earmarked )

UOB One a/c bonus interest is calculated based on monthly average balance (cap at MAB $150k), regardless of earmark on certain portion of the total fund in the a/c.

 

[Lonelyoldman80]

UOB One a/c bonus interest is calculated based on monthly average balance (cap at MAB $150k), regardless of earmark on certain portion of the total fund in the a/c.

Glad to hear that .Thanks for the info ..

 

[silentears]

Can check the payment for the lvl 1 500 dollars spending tracker. It is not live right? Means need wait awhile to be updated.

Also does anybody know if the 500 min spent can be counted via paynow?

 

[sglandscape]

Can check the payment for the lvl 1 500 dollars spending tracker. It is not live right? Means need wait awhile to be updated.

Also does anybody know if the 500 min spent can be counted via paynow?

Only updates when the transaction posts. Read the tnc, paynow does not count.

 

[silentears]

Only updates when the transaction posts. Read the tnc, paynow does not count.

Ok thanks. So the bonus cut off is as off the last working calendar day right. Say today is last day of the month then I just have to clock the 500 spending by today.

While the basic rate basic one, is compounded daily ?

^Total interest is equivalent to Base Interest plus Bonus Interest; where current Base Interest is 0.05% p.a., Bonus Interest is paid up to S$150,000 in your One Account. 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

 

[ThreeSteps]

Can check the payment for the lvl 1 500 dollars spending tracker. It is not live right? Means need wait awhile to be updated.

Also does anybody know if the 500 min spent can be counted via paynow?

“Spend min. S$500 monthly on an eligible UOB credit/debit card” - this means payment via PayNow is not eligible.

“Transactions posted within a CALENDAR month” -
When you charge $20 to credit card on 27June, its transaction date is 27June. However, the posting date maybe a few days later, eg. 29June. If the posting date is before 30June, the $20 will be included in the June spend. The spend tracker is updated based on posting date.
Sometimes, the posting date maybe later eg. 02July. In this case, the $20 will be included in the July spend.
To avoid uncertainty for posting dates, it is better to charge earlier on your credit card, preferably before 24th of each month.

 

[ChrisL82]

Repeating the info for convenience and reference sake .....

From 1st May 2024, computed bonus interest for the first $150k principal amount (average daily balance) :

28 days in the month = $454.52
29 days in the month = $470.75
30 days in the month = $486.98
31 days in the month = $503.21 (verified with May 2024 statement)

Disclaimer : actual amounts may differ by a few cents due to rounding off, pls refer to bank for eventual amounts .....

Bonus interest should come on Tuesday .....

Thanks.
I always derived a slightly higher figure
For example for May, based on my calculations, it’s 508.20 and for Jun, its 491.80. Do you know why ? Thanks.

 

[sglandscape]

Thanks.
I always derived a slightly higher figure
For example for May, based on my calculations, it’s 508.20 and for Jun, its 491.80. Do you know why ? Thanks.

Did you exclude the base interest which is paid end of month? Also based on 366 days since its a leap year.