Looking to make a switch from DBS Multiplier to OCBC 365. Should I close my account entirely? - Seedly
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Anonymous

Asked on 06 Aug 2019

Looking to make a switch from DBS Multiplier to OCBC 365. Should I close my account entirely?

Hi, I'm a 27 y/o using a DBS Multiplier Account + a DBS Altitude Card. I'm looking to take on bill payments for my parents (telco, utility bills, insurance). Because the DBS Altitude doesn't give me any miles for bill payments + insurance, I'm looking to switch over to OCBC 365. I'm not looking to keep too many cards or bank accounts so I might close the DBS Multiplier when I move over to OCBC. Is it ok to do that? Does this affect my credit score or should I consider keeping the DBS account up?

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Xue Yi Hang
Level 4. Prodigy
Answered on 13 Aug 2019

It won't affect your credit score.

Personally I keep multiple bank accounts as it

  1. Makes it easy to segregate my money so I only touch what is in my spending account

  2. DBS ATMs often have long queues so I just draw money at OCBC ATMs which usually have nobody and then ibank money between my own accounts lol

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Chris Tang
Chris Tang
Level 2. Rookie
Answered on 06 Aug 2019

Or would it make sense to keep DBS Multiplier as bank account and just get the OCBC 365 card itself?

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