UOB ONE Account

[wts2013]

It does take 4-6 weeks to setup/activate giro for credit card bill payments, recently my giro DBS cc to UOB 1 took more than that time cos DBS made some changes. So dun under estimate this aspect when setting up giro for cc bill payment against UOB 1 account - it helps in planning when to move funds in to earn max interest.

Agree it might be faster to setup giro for other non-bank billing organisations, so far I only setup 1 such giro but it is against UOB credit card and it took less than 4 weeks.

 

[wts2013]

Thanks a lot!

For the UOB one acc 3.33% interest to work, would we have to link the GIRO to the one acc? or it would work if we link to any credit cards?

Hmmm.. u sounded confused, so let me explain from base:

1.To earn bonus interest, first u must charge min $500 to your UOB1 credit card, then your 50k in the UOB1 deposit account will earn 1.6% pa. U can either charge your spend at “retail outlets” or setup giro bill payments against your UOB1 credit card.

2.To earn additional bonus interest, u need to giro your salary OR arrange 3 giro debits against your UOB1 deposit account. U can setup giro bill payments which can include UOB1 credit card bills or any other credit card bills against the UOB1 deposit account. With this, your 50k in the UOB1 deposit account will earn 2.43% pa

hahaha, hope u are clear now

 

[p0236948]

Hmmm.. u sounded confused, so let me explain from base:

1.To earn bonus interest, first u must charge min $500 to your UOB1 credit card, then your 50k in the UOB1 deposit account will earn 1.6% pa. U can either charge your spend at “retail outlets” or setup giro bill payments against your UOB1 credit card.

2.To earn additional bonus interest, u need to giro your salary OR arrange 3 giro debits against your UOB1 deposit account. U can setup giro bill payments which can include UOB1 credit card bills or any other credit card bills against the UOB1 deposit account. With this, your 50k in the UOB1 deposit account will earn 2.43% pa

hahaha, hope u are clear now

Hi! Thanks for the info..


I am spending SGD 2K for my UOB one card acc, and will credit by salary into my UOB one acc. So just to confirm I am eligible for the max bonus for UOB one acc that I could get? (without doing the 3 GIRO)


Thanks for clarifying. I thought I have to do both salary credit AND 3 GIRO. looks like I only have to do either one..

 

[kimjio1989]

Bros and sis, the $80 for new sign up still entitled right?? Coz, I've spent more than $500 le

 

[Trazora]

Bros and sis, the $80 for new sign up still entitled right?? Coz, I've spent more than $500 le

You get $80, $40 or $0 depending whether you meet the requirements

S$40 cash credit is awarded to the 1st 400 new principal cardmembers who apply via uob.com.sg from 31 Oct to 15 Nov 2015, and spend minimally S$500 within 30 days of the card approval. Additional S$40 cash credit is awarded to each applicant who graduated from a tertiary institution in academic year 2014 or 2015, and has enrolled for the promotion via uob.com.sg/credit-cards/80-cash.html. Full terms & conditions at uob.com.sg/credit-cards/80-cash.html

 

[EEXOOO]

I am linking my UOB One card to pay for my DBS credit card through GIRO.
In my DBS credit card statement there is a line stating the amount will be debited on 19th Nov 2015 for the full amount due.

Till now no deduction. Usually they deduct what time?

 

[Trazora]

I am linking my UOB One card to pay for my DBS credit card through GIRO.
In my DBS credit card statement there is a line stating the amount will be debited on 19th Nov 2015 for the full amount due.

Till now no deduction. Usually they deduct what time?

Think you meant linking UOB One Savings account to pay for DBS credit card. GIRO is payment from the savings account, not the UOB One card. Check your UOB One Savings account instead.

 

[frustrateddude]

Think you meant linking UOB One Savings account to pay for DBS credit card. GIRO is payment from the savings account, not the UOB One card. Check your UOB One Savings account instead.

anyone can verify there will be no deduction if bill is $10?

 

[EEXOOO]

Think you meant linking UOB One Savings account to pay for DBS credit card. GIRO is payment from the savings account, not the UOB One card. Check your UOB One Savings account instead.

Yeah you are right I meant the UOB One savings account. Think there is something wrong with the GIRO setup, till now not yet GIRO. Gonna be hit with late fees O_O

 

[autumm]

Yeah you are right I meant the UOB One savings account. Think there is something wrong with the GIRO setup, till now not yet GIRO. Gonna be hit with late fees O_O

GIRO for DBS credit card happens on the date of payment due.

Eg. payment due date is 19 Nov, deduction occurs on 19 Nov and u can only see it online on 20Nov

 

[more3cm]

anyone can verify there will be no deduction if bill is $10?

Below 10 yes. Zun Zun 10 I dunno

 

[EEXOOO]

GIRO for DBS credit card happens on the date of payment due.

Eg. payment due date is 19 Nov, deduction occurs on 19 Nov and u can only see it online on 20Nov

That explains! And yes you are right I can only see it deducted this morning. Got me worried for a while. Thanks!

 

[frustrateddude]

Below 10 yes. Zun Zun 10 I dunno

cos SCB did not deduct when my bill is $10.
ppl here mentioned same happened to UOB bill too.

 

[more3cm]

cos SCB did not deduct when my bill is $10.
ppl here mentioned same happened to UOB bill too.

Ya UOB cards confirm below 10 no activate Giro... Or u don't even have to pay at all... I got a <10 bill owe UOB perhaps for more than a year?

 

[xXxJavierxXx]

Uob one promo coming to a year old. Expect changes to interest rates and t&c when next year starts!

 

[i1magic]

A new "high interest" savings deposit that shares similar characteristics with OCBC 360 and SCB Bonus Saver.

http://www.uob.com.sg/personal/deposits/chequeing/one_account.html?s_cid=oneaccount_hp_bann

The good side of this account? No pushing of insurance products to enjoy the high interest factor.

Quick comparison

OCBC 360: Effective I/R 3.05%
currently 3.05% dropping to 2.05% in May-15. To enjoy 3.05%, hearsay is buying insurance product and step up deposit

SCB Bonus Saver - earn up to 3.88%
1.88% with $500 spent and 2% coming from the purchase of new insurance with at least 24k premium plan

UOB One Account:up to 3.33% (EIR: 2.43%)
Earn 2% from UOB credit/debit card (min. spend of $500) with salary crediting (min. $2k) OR 3 Giro transactions

Mechanics

Purely meeting $500 CC spending
Effective interest rate you earn per year is 1.6%

Meet both $500 CC spending or either of the criteria above
Effective interest rate you could earn per year is 2.43%

What is the EIR?
Since the deposit works base on tier,

first 10k you earn 1%/1.5%
Next 20k you earn 1.5%/2%
Next 30k you earn 2%/3.33%

If you maintain $50K perpetually, you can earn up to an EIR of 2.43%. The EIR will change drastically if your $50k is not fixed

To add on: the mechanics of UOB One Card
if you spend $300/$800/$1,500 monthly for 3 consecutive months, then you will earn $30/$80/$150.

sadly, if you only spend $500 for 3 consecutive months, you will only earn $30 still.

Conclusion:
If you are able to meet all the requirements in OCBC, stick with OCBC. If you have problems registering your salary with OCBC, or OCBC come out with lame requirement like buying insurance to achieve the additional 1%, UOB will be the next best bet if you have more than ~$31.2k.

If you happen to be looking for an insurance product and want to earn the most, Bonus saver 3.88% will be the best. However, if Bank cant commit to you the promotion will be for the next 20 years, why do they always want to tie us to insurance policy?

Is this same as this one?

http://www.uob.com.sg/one/rebate.html

 

[Trazora]

Is this same as this one?

http://www.uob.com.sg/one/rebate.html

The second half of the page is talking about the UOB one account which is the same. One key requirement for the bonus interest is to fulfil min $500 spending on UOB one card. The first half is talking about rebate on the UOB one card which u may concurrently earn if you meet the tiered spending and other tnc.

 

[i1magic]

Is this same as this one?

http://www.uob.com.sg/one/rebate.html

The second half of the page is talking about the UOB one account which is the same. One key requirement for the bonus interest is to fulfil min $500 spending on UOB one card. The first half is talking about rebate on the UOB one card which u may concurrently earn if you meet the tiered spending and other tnc.

3 Giro - Settled by mobile and broadband liao.
$500/mth - Petrol already $400 or more liao.

So petrol + mobile & broadband, it would be about $600+ to $700 liao. But like that only get cash rebate of $50/quarter, very little leh.

It seems like Citibank Dividend MasterCard is still slightly better.

 

[dork32]

3 Giro - Settled by mobile and broadband liao.
$500/mth - Petrol already $400 or more liao.

So petrol + mobile & broadband, it would be about $600+ to $700 liao. But like that only get cash rebate of $50/quarter, very little leh.

It seems like Citibank Dividend MasterCard is still slightly better.

citibank dividend dont have $100 interest per month

 

[dork32]

3 Giro - Settled by mobile and broadband liao.
$500/mth - Petrol already $400 or more liao.

So petrol + mobile & broadband, it would be about $600+ to $700 liao. But like that only get cash rebate of $50/quarter, very little leh.

It seems like Citibank Dividend MasterCard is still slightly better.

if you use citidividend at 700/month, you get $1.75/month or $4.75/quarter. you call this slightly better?