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OCBC 360

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Bank Account

DBS Altitude Visa Signature Card

DBS

DBS Multiplier

OCBC 360

OCBC

Credit Card

Savings

Family

Expenses

XY
Xue Yi Hang
Level 2. Rookie
Answered 2w ago
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

Savings

Bank Account

OCBC 360

Cedric Jamie Soh
Cedric Jamie Soh, Director at Seniorcare.com.sg
Level 4. Prodigy
Answered on 05 Jun 2019
My guess is it will work at the start. Just read the terms and conditions, it didn't say the money must not be from another OCBC account. https://www.ocbc.com/assets/pdf/accounts/termsandconditionsgoverning360accountwitheffectfrom1nov2018.pdf?v=6 So technically it will work. Do leave a minimum amount for any credit card bill, other bonus, etc etc

Credit Card

OCBC 360

OCBC

OCBC 365 Card

Savings

Lifestyle

Bank Account

Jessica Chuah
Jessica Chuah
Level 3. Wonderkid
Answered on 03 Jun 2019
Does your company not allow other options? Most (if not all) companies should have setup their bank accounts with local banks or foreign bank with a Singapore branch, which actually allows for GIRO or FAST payment to any of the approved bank institutions. You can check out this website https://www.abs.org.sg/consumer-banking/fast. I would think you can discuss with your company's payroll or HR to see if other bank accounts (like DBS multiplier or UOB One) are possible for you. OCBC 360 is actually not too bad now after a revamp of their benefits, if I were you I would forgo the interest rate for CC since you are not able to hit the minimum required spending for the OCBC 365 CC, and the benefits of other OCBC cards are not too attractive. You can work to get higher interest rate by putting in fresh funds in future, or just by maintaining a higher average balance compared to the previous month as well. In terms of cashback credit cards, I would think Standard Chartered Unlimited Cashback, AMEX True Cashback (both have no min spending), or UOB One (min $500) are one of the better in the markets now. if you are looking at low to no requirements.

Savings

Bank Account

CIMB FastSaver

OCBC 360

Personally I use CIMB as it is hassle free.

OCBC 360

DBS Multiplier

If you are spending more than 2k from Your credit card. You may want to consider having UOB one and OCBC 360 or DBS multiplier. Put 75k into UOB one and the rest into the other account. Split your spending accordingly too. 2k with UOB one and the rest on the other account. This was you will get the maximum rebate and interests on UOB one and still earn a higher interests on the other account. If you are not able to spend 2k on your CC. Then choose the bank that works best with you and put the CAP amount in the account. Assuming you still have surplus after the CAP, you may consider CIMB which offers 1% for your deposits.

Savings

OCBC 360

DBS Multiplier

Lee Jiahui
Lee Jiahui
Level 5. Genius
Answered on 21 Apr 2019
The nric part is the statement item desc not the item code. The item code should still say giro salary and can qualify for the ocbc one. Not sure about dbs but should be similar.

Credit Card

Bank Account

OCBC 360

Edison Pua
Edison Pua
Level 3. Wonderkid
Answered on 18 Apr 2019
It depends on your spending pattern. One interesting thing I noticed is that installment on the GE Cashflo card counts, so that can be one of the sources if you have GE insurance policies. I tried using 365, but personally find it hard to hit the 800 min spending consistently for meaningful cashback. Considering changing to Frank or Titanium. If you high earner (120k p.a.), can also consider Voyage. At least this gives you miles regardless of spending.

OCBC 365 Card

OCBC 360

DBS Multiplier

Investments

Credit Card

Savings

Lok Yang Teng
Lok Yang Teng
Level 6. Master
Answered on 06 Apr 2019
Assuming you do not have any loans/investment/insurance with DBS/POSB and did not insure/invest with OCBC, the interest rate is the same at 1.80%. You can try using the interest rate calculator for both accounts online to see which gives a better deal.

Bank Account

Savings

OCBC 360

DBS Multiplier

1.2% for the first 35k. 1.5% for the next 35k. That means out of your 60k, 35k is earning 1.2% and 25k is earning 1.5%, not all 1.5% when u have more than 35k. DBS multiplier gives bonus interest up to 50k so putting 10k into CIMB Fastsaver would be better or you can even consider SSBs. OCBC not that good right now in terms of interest.

OCBC 360

Investments

Yes. Standard chartered low fees but their exchange rate not awesome. Do you know that investing in the US for non-US investors there is a 30% withholding dividend tax on your dividends? Make sure to take that into account. Dont invest everything and save some for rainy days around 3-6 months expenses. Only invest money that you are fine with losing.
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