tag:blogger.com,1999:blog-5872589584051161157.post2663466729842264322..comments2023-09-17T19:44:57.980+08:00Comments on Of Bulls And Bears: Opening of DBS Multiplier & UOB One depositsFrowns88http://www.blogger.com/profile/02284939344444329229noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-5872589584051161157.post-2237099773000515372018-08-26T15:52:05.071+08:002018-08-26T15:52:05.071+08:00Hi Frowns88, thanks for letting me know. I will ch...Hi Frowns88, thanks for letting me know. I will check with them regarding the acct linkage application. :)Rainbowhttps://www.blogger.com/profile/17762360552800572152noreply@blogger.comtag:blogger.com,1999:blog-5872589584051161157.post-9403732179926373992018-08-26T11:35:27.362+08:002018-08-26T11:35:27.362+08:00the topping up portion is required when the accoun...the topping up portion is required when the accounts are not linked.<br />There is no need to top up after linkage of both accounts.(there is a form to fill to link)<br /><br />Is your Vickers currently under EPS/GIRO payment?Frowns88https://www.blogger.com/profile/02284939344444329229noreply@blogger.comtag:blogger.com,1999:blog-5872589584051161157.post-41383407717034178282018-08-26T11:32:24.632+08:002018-08-26T11:32:24.632+08:00This comment has been removed by the author.Frowns88https://www.blogger.com/profile/02284939344444329229noreply@blogger.comtag:blogger.com,1999:blog-5872589584051161157.post-45267611758057793582018-08-26T10:58:20.988+08:002018-08-26T10:58:20.988+08:00Hi 22°C,
Yes, that is the advantage here.
I gue...Hi 22°C,<br /><br />Yes, that is the advantage here. <br />I guess most of us are confused by the steps initially. Before we can use cash upfront on US stocks using USD currency, we need to first link our Multiplier account to Vickers. And as you know, we need to login via Ibanking since it is cash upfront. <br /><br />1) In Ibanking, transfer money from SGD to USD in your Multiplier. Yes, this is how you convert your SGD to USD, by "transferring" within Multiplier itself. (also the same step when we convert USD back to SGD)<br />2) Once converted, you have USD funds in your account. (make sure there is enough for your trade)<br />3) Access Vickers from Ibanking.<br />4) Now bid on the USD stock you wanted and set the payment under Cash Upfront.<br />5) Once the transaction is filled, your USD funds will be immediately earmarked and deducted accordingly. <br /><br />Hope this clarifies. <br />Let me know if you need further help. Probably need to make a post on this haha. <br /> Frowns88https://www.blogger.com/profile/02284939344444329229noreply@blogger.comtag:blogger.com,1999:blog-5872589584051161157.post-65907276756255708262018-08-26T01:02:23.028+08:002018-08-26T01:02:23.028+08:00Hi, you mean you were able to top up foreign curre...Hi, you mean you were able to top up foreign currency (say USD) from the Multiplier account into the Vickers cash upfront account and purchase the foreign shares?Rainbowhttps://www.blogger.com/profile/17762360552800572152noreply@blogger.comtag:blogger.com,1999:blog-5872589584051161157.post-74754066905874590492018-08-25T16:43:32.776+08:002018-08-25T16:43:32.776+08:00Hi Ben,
Sorry for the late reply as well.
Yes, U...Hi Ben,<br /><br />Sorry for the late reply as well. <br />Yes, UOB One Account entails one to spend >$500 to earn better interests.And there is no point to make ourselves do that for the sake of a few bucks.<br />In your case, DBS Multiplier will suit you more as it does not "force" you to spend certain amounts to be eligible for each category.<br />I am not sure of your expense scenario but below is an example how you can at least earn higher interests than the usual 0.5% in traditional deposits.<br /><br />-Salary Credit: $2400 (amount after CPF deduction on a $3000 salary)<br />-Credit card spent: Payment of $10 on household/EZ Link or other inevitable bills (yes, it is $10!)<br />-Invest: Using Vickers to buy $500 worth of shares<br /><br />In the above case, one will get to enjoy 2.0% annual interests.<br />Even if the "Invest" portion is removed, the interests will fall to 1.55% annually.<br />Do play around with the Multiplier calculator to see how it fits you. :D<br />https://www.dbs.com.sg/personal/landing/dbs-multiplier/Frowns88https://www.blogger.com/profile/02284939344444329229noreply@blogger.comtag:blogger.com,1999:blog-5872589584051161157.post-31884994696911448902018-08-25T16:26:39.669+08:002018-08-25T16:26:39.669+08:00Hi,
Sorry for my late reply. Thanks and you are ...Hi, <br /><br />Sorry for my late reply. Thanks and you are right. <br /><br />Had confused it with the other types of currencies in the Multiplier accouunt. Guess I am deluding myself on earning higher interests. The post is now updated, along with added details on Salary credit t&c. <br />Frowns88https://www.blogger.com/profile/02284939344444329229noreply@blogger.comtag:blogger.com,1999:blog-5872589584051161157.post-79086843175248691902018-08-13T09:54:49.572+08:002018-08-13T09:54:49.572+08:00Hi,
Based on my views, I think that both accounts...Hi,<br /><br />Based on my views, I think that both accounts require spending above specific amount in order to qualify for the promotional interest. Given the low monthly bill spending, I will not be able to qualify for the said promotion, unless I am given the overseas work assignment in which I can charge the air-flight and hotel accomandation to my debit card. I need to induce more spending in order to qualify for such promotion. Such action is not economic effective as per my perspective.<br /><br />I will have to forego these two promotions.<br /><br />My two cents worth of views.<br /><br />BenWTKhttps://www.blogger.com/profile/11459028978258841179noreply@blogger.comtag:blogger.com,1999:blog-5872589584051161157.post-76250828110970084662018-08-06T20:52:28.408+08:002018-08-06T20:52:28.408+08:00"total balances of other DBS accounts are als..."total balances of other DBS accounts are also eligible to earn you these interests under the Multiplier account scheme"<br />This statement is inaccurate. While transactions from other accounts is counted to determine the interest tiering,the interest received is only for balances in your multiplier account. Anonymousnoreply@blogger.com