Anonymous

28 Mar 2021

∙

Should I close my OCBC 360 account?

There’s a min avg daily balance of $3000, or there’ll be a fee of $5. All my savings are now in the Singlife account (~$25000) since I can earn about 1%. Should I close my OCBC 360 bank account? It was previously OCBC Frank account that’s been with me since I was 14, and was converted last year in June. I don’t want to leave $3000 inside just to keep it open as it’ll earn a very low interest rate, but I’m not sure what are the full consequences of closing the account.

TIA!

OCBC 360 Account Singlife Account

1

Discussion (1)

What are your thoughts?

Learn how to style your text

Chris

28 Mar 2021

Owner and Writer at Tortoisemoney.com

I think it'll be ok to close it. I would just transfer an amount that I would need for my regular expenses into another account with no minimums for spending purposes and place the remaining portion into Singlife/investments.

Reply

Save

Write your thoughts

Related Posts

I want to close my OCBC 360 Account. What are the steps to take?

DBS multiplier vs OCBC 360 account? It has been noted that OCBC has revamped their account recently. Any advise whether I should switch over to 360 or stick to Multiplier?

I'm planning to sell some of my US stocks and the funds will be transferred back into my ocbc 360 account as USD. May i know is it possible for my ocbc 360 account to receive in terms of USD or i have to change the currency to SGD first?

Should I close my OCBC and move over to CIMB? How many banks is too many for a student? I have 2 bank accounts, OCBC and POSB now, both are the basic savings accounts with super low interest rates?

I’m currently using OCBC passbook savings. Can I open another OCBC 360 account under my name? Or do I have to cancel my passbook account first?

Related Products

OCBC 360 Account

4.3

202 Reviews

Up to 2.38% p.a.

INTEREST RATES

$1,000

MIN. INITIAL DEPOSIT

$3,000

MIN. AVG DAILY BALANCE

Singlife Account

4.4

197 Reviews

Standard Chartered JumpStart Account

4.8

778 Reviews

Related Posts

I want to close my OCBC 360 Account. What are the steps to take?

DBS multiplier vs OCBC 360 account? It has been noted that OCBC has revamped their account recently. Any advise whether I should switch over to 360 or stick to Multiplier?

I'm planning to sell some of my US stocks and the funds will be transferred back into my ocbc 360 account as USD. May i know is it possible for my ocbc 360 account to receive in terms of USD or i have to change the currency to SGD first?

Should I close my OCBC and move over to CIMB? How many banks is too many for a student? I have 2 bank accounts, OCBC and POSB now, both are the basic savings accounts with super low interest rates?

I’m currently using OCBC passbook savings. Can I open another OCBC 360 account under my name? Or do I have to cancel my passbook account first?