Asked on 02 Jun 2018
A complex question with multiple scenarios...
As a rule of thumb, having a bank account like CIMB Fastsaver for savings is good, while OCBC 360 for anything else from Credit Card, Loan, GIRO payments, etc.
Money goes where you will conduct most transactions from, i.e. OCBC, then it from OCBC, the money goes into another bank account (e.g. CIMB Fastsaver) for savings and from OCBC, money goes into investment (e.g. OCBC Securities or whichever other platforms)
Limit yourself to no more than 3 bank accounts, while 2 is great and having all transactions into 1 location is best.
Hope it helps
Hi there, a few questions to think about/clarify:
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