Clement

26 Dec 2019

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With a DBS multiplier account, is there a need for DBS savings account?

Since I can transfer money in and out from the multiplier account, is there an actual need for the DBS savings account anymore? Is there any pros to holding to bank accounts under DBS?

DBS/POSB Multiplier Account

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Pang Zhe Liang

26 Dec 2019

Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)

It depends on your needs and how you manage your finances.

Personally, I have two bank accounts for budgeting purposes. Here is how I do it: https://www.blog.pzl.sg/how-to-create-a-monthly...

Here is everything about me and what I do best.

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If I have 0 balance in DBS multiplier account, do I need to pay for fall below fee? I am using another high saving account. If they do charge for the fall below fee, should I delete the account?

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If I have 0 balance in DBS multiplier account, do I need to pay for fall below fee? I am using another high saving account. If they do charge for the fall below fee, should I delete the account?

I have open a DBS multiplier account to enjoy the interest. Previously I was using POSB saving account with 0.05% of interest. Should I close my old account,now that I have the DBS multiplier account?

Are there advantages in having a fixed deposit account and a savings account? Why do some people put money into a FD account, instead of say, putting everything into a savings account (e.g. DBS Multiplier)?

Recently I have just created the DBS Multiplier account, should I transfer all my money from the Saving account to the Multiplier account?

Should I close my DBS Remix Savings account and link everything to my newly opened DBS Multiplier account?