John Wong

11 Jul 2023

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What happens when bank account is $0 and they keep charging fall-below fee?

Some accounts, such as the DBS Ideal account (for SMEs), charge you $xx monthly just for having the account. But when the account is already $0 and they keep charging the $xx, it results in negative balance (like in my case). Can this go on forever or do they send you "lim kopi" letters once a certain negative limit is hit?

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IANAFA but

27 Aug 2023

Overdraft

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Adam Tay

17 Aug 2023

First the interest will keep accumulated then when it become a huge sum, u will see two huge man knock at door ask u to pay up and also ur credit rating will be hurt, so if you want to take a loan from any bank will be hard.

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Anita Han

16 Aug 2023

Negative balance, better to just close your account or keep just enough 😊👍

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Robin Chan

01 Aug 2023

Why not you just close the account?

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YOC

01 Aug 2023

Is there a reason why you keep holdng on to the bank acct? i suggest you call them, cancel and ask t...

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Related Posts

If I have 0 balance in DBS multiplier account, do I need to pay for fall below fee? I am using another high saving account. If they do charge for the fall below fee, should I delete the account?

What will happen if I have zero balance in OCBC Frank saving account? Will they still deduct or bill fall-below fees to me?

Is there any no fall-below fee multi currency account? For DBS multiplier fall below amount is 3K and too high. Secondly, once I have a multipler account can I deposit USD cash without any fees?

SAXO is charging me 0.75% fee on every transfer i make from my Singapore bank account to SAXO USD account. Has anyone found a way to avoid these fees on SAXO?

I'm a self-employed & will receive my fees in USD. Should I open an USD accounts or receive the fees in my SGD accounts? Any recommended opt that can save in exchange rate and bank charges?