What 3 bank accounts should I open? - Seedly



Bank Account

Asked by Anonymous

Asked on 08 Aug 2019

What 3 bank accounts should I open?

Hello, understand that the Seedly recommended financial management strategy is to create 3 accounts for savings, wealth and expenses respectively.


I am a 22 year old female, with 30k in a POSB kids account. Currently drawing a 2.8k salary (before CPF). No credit card yet, but looking to sign up for one as I am able to claim transport & food expenses from company, roughly $300 per month

Looking at DBS multiplier and OCBC 360 but I'm not sure which to open. Please advise! :)


Answers (3)

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jiajing wang
Level 5. Genius
Answered on 14 Aug 2019

If you are thinking of making investment too and applying for a CC under DBS then you could consider multiplier.. If not, you can consider UOB one account


Justin Kieran Ong
Justin Kieran Ong
Level 4. Prodigy
Answered on 14 Aug 2019

OCBC 360 is only good if you can hit the multiple requirements.

If you can't, I'd suggest the multiplier account. It's easier to get the 1.8% and up. You wouldn't need to change the account your salary is credited to either and only $1 needed from your credit spend monthly as long as you meet the monthly transaction requirements.

This is just my opinion as someone using the multiplier account.


Xue Yi Hang
Level 3. Wonderkid
Answered on 13 Aug 2019

OCBC 360 is good if you are able to fulfil their requirements for bonus interest, plus IMO their ibanking interface is the best, particularly because of their Savings Goals feature which helps you compartmentalize and automate your savings.

I have no experience with Multiplier so I can't comment on that :)