Which savings account do you use to ‘Pay Yourself First’? What’s the rationale?

If you have seen my article on Understanding Your Personal Cash flow and How to create a Monthly Budget, you will know that I pay myself first using automation.

More Details:

Understanding Your Personal Cash Flow

How to create a Monthly Budget

This is to prevent temptation of spending money that I know I don't need to. For my salary account, I use UOB One as the criteria is straightforward. Moreover, my balance will grow over time as this is my main savings account. Hence, the higher interest rate helps my money to grow faster as compared to the normal bank account.

For my expenses account, I use DBS eSavings account as it allows for zero minimum balance.

Here is everything about me and what I do best.​​​

I use the OCBC 360 account and force myself to increase the account balance every month. I like it for the simplicity and the fact that I only need to fulfill one criteria to get the bonus interest.

Eventually when I hit the cap, I will transfer excess funds to CIMB or my trading account.

I used OCBC 360 as my salary crediting account. Each month, I will transfer out 90% of it to my expense account in POSB. The balance 10% will remain in OCBC 360. The reason for using OCBC 360 is because of its higher interest rates.

I prefer to use standard chartered jumpstart as it gives me 2% interest per annum​​​