do u split your FD into many banks to meet $75K MAS insurance ? or simply dun care
#31

(25-12-2022, 02:35 PM)sgh Wrote:  Agree China banks top. I didn't know ICBC lagi bigger than BOC until someone point me the URL. It just happen ICBC has small presence than BOC in Spore. I am happy open accounts with both banks this Dec 2022.

US banks go s*uck ...

Me too. I did not know ICBC is bigger until I read about it in 亚洲周刊 a while back. BTW, US banks don't take SGD deposits AFAIK (or they don't give good interest rates).
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#32

(25-12-2022, 02:35 PM)sgh Wrote:  Agree China banks top. I didn't know ICBC lagi bigger than BOC until someone point me the URL. It just happen ICBC has small presence than BOC in Spore. I am happy open accounts with both banks this Dec 2022.

US banks go s*uck ...
Better stick to Singapore banks............ Clapping Gesti-109
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#33

(25-12-2022, 02:39 PM)debono Wrote:  Better stick to Singapore banks............ Clapping Gesti-109

Spore banks tightly controlled and follow the cue of govt. Their FD no promotion so low which is why cpf oa rate remain low at 2.50% as part of the formula is based on that

If my monies get cheated by China banks compared to Spore govt tied up my cpf monies I happy get cheated by others. My monies my choice
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#34

(25-12-2022, 02:45 PM)sgh Wrote:  Spore banks tightly controlled and follow the cue of govt. Their FD no promotion so low which is why cpf oa rate remain low at 2.50% as part of the formula is based on that

If my monies get cheated by China banks compared to Spore govt tied up my cpf monies I happy get cheated by others. My monies my choice

You are right to say your money is your choice, but your hard earned money is being 'scamed' away, how do you feel........ crying
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#35

(25-12-2022, 02:48 PM)debono Wrote:  You are right to say your money is your choice, but your hard earned money is being 'scamed' away, how do you feel........ crying

Between scam by China banks vs scam by our govt I prefer to be scam by China banks. I serve NS that $100 don't give me till now and bring in so many ceca snatch my rice bowl who is more cunning here?
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#36

(25-12-2022, 02:51 PM)sgh Wrote:  Between scam by China banks vs scam by our govt I prefer to be scam by China banks. I serve NS that $100 don't give me till now and bring in so many ceca snatch my rice bowl who is more cunning here?

I am sorry to hear that, but my $100 NS voucher was well spent.  It is disheartening to know that your job is being 'robbed' by CECA is sad......... Clapping Gesti-109
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#37

SDIC covers your bank deposits in all banks and finance companies in Singapore:  


[Image: SDICDeposit-Insurance.png]
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#38

(25-12-2022, 08:10 AM)sgbuffett Wrote:  Remember the people who were scammed at OCBC they were 100% compensated.

So long as its the established local banks UOB OCBC DBS .

It gets slightly riskier for smaller foreign players like CIMB Malybank ...

Having said that the risks is still lower than dying in a plane crash. Why I say this is because not a single depositor in developed country lost money through the collapse of a bank even in the financial.crisis because the govt always steps.in to rescue.

The reason is money today is fiat money. Deposit is always in local.currency that govt can print. So why should any citizen even lose 1 cent putting money in  a bank when the govt can just print and compensate. If any govt refuse to compensate they will be voted out in elections.

For myself I won't bother to split even if I deposit in smaller banks like CIMB which is regulated by MAS...
What happens to Citibank during the sub-prime crisis?it almost went bankrupt. Was Citibank regulated by MAS?
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#39

dbs says u combine or split same rate
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#40

(25-12-2022, 08:30 AM)Huliwang Wrote:  Depends how much money you are going to deposit. It is not feasible if you are going to split $3 million into 40 banks just to get insured for $75K. 
However, if you are going to deposit just $300K, then perhaps you may split into 3 big banks. .... Rolleyes

Why not feasible?

It's just a bit of admin and foot work nia.

For some banks like CIMB, you can even do it in the comfort of your home.
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#41

https://www.sdic.org.sg/sm_list/di_scheme_members

“Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind"
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#42

Recently, I transferred my fund out from DBS. They still called me and authenticated my particulars before activating my transferring.
I told them the bank, I transfer the fund to give much higher fixed deposit rate lah. Rotfl

“Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind"
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#43

(25-12-2022, 05:11 PM)RiseofAsia Wrote:  Recently, I transferred my fund out from DBS. They still called me and authenticated my particulars before activating my transferring.
I told them the bank, I transfer the $$$ to give much higher fixed deposit rate lah. Rotfl

Do you often make big transfer? For me every month which bank got new promo so I move hence they never call me to verify sure can fast out and in as they saw my pattern
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#44

(25-12-2022, 05:14 PM)sgh Wrote:  Do you often make big transfer? For me every month which bank got new promo so I move hence they never call me to verify sure can fast out and in as they saw my pattern

Normally, it is my wife job.  I only clearing some of my leftover fund in DBS.

“Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind"
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#45

(25-12-2022, 05:15 PM)RiseofAsia Wrote:  Normally, it is my wife job.  I only clearing some of my leftover fund in DBS.

I see. Word of advice talk about monies best is ownself manage what if spouse take your monies run road how?
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#46

(25-12-2022, 05:17 PM)sgh Wrote:  I see. Word of advice talk about monies best is ownself manage what if spouse take your monies run road how?

Why do you want to get marriage if you dont have trust with your spouse?

“Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind"
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#47

(25-12-2022, 05:17 PM)sgh Wrote:  I see. Word of advice talk about monies best is ownself manage what if spouse take your monies run road how?

You must give some trust to your wife, but if she run road, then she is unfaithful............... Clapping
[+] 1 user Likes debono's post
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#48

(25-12-2022, 05:20 PM)debono Wrote:  You must give some trust to your wife, but if she run road, then she is unfaithful............... Clapping

She run road can but don't take my monies I am ok. Take my monies and run road too much I see her no up lack of parental upbringing
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#49

(25-12-2022, 05:19 PM)RiseofAsia Wrote:  Why do you want to get marriage if you dont have trust with your spouse?

You dunno some is becuz of responsibility? Suey mah young dunno but feel obligated to feed the offspring. Of cuz can learn to run road no need feed but that is not my style
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#50

(25-12-2022, 05:22 PM)sgh Wrote:  She run road can but don't take my monies I am ok. Take my monies and run road too much I see her no up lack of parental upbringing

I think you dont understand woman well. Big Grin
Woman and Man have different thinking and mindset.

“Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind"
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#51

(25-12-2022, 05:17 PM)sgh Wrote:  I see. Word of advice talk about monies best is ownself manage what if spouse take your monies run road how?

agreed, but if keep in 14 banks must tell them where it is, account numbers, set a willl
put all these details in a cloud drive in case uplorry the kids know where/what to get asset
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#52

(25-12-2022, 05:36 PM)limpeh394 Wrote:  agreed, but if keep in 14 banks must tell them where it is, account numbers, set a willl
put all these details in a cloud drive in case uplorry the kids know where/what to get asset

I don't intend to give them my monies already willed to charities. I don't believe in inheritance concept becuz I get none so why should I give to my offspring? They no hand no leg cannot earn a living themselves?
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#53

(25-12-2022, 05:36 PM)limpeh394 Wrote:  agreed, but if keep in 14 banks must tell them where it is, account numbers, set a willl
put all these details in a cloud drive in case uplorry the kids know where/what to get asset

A very good suggestion.......... Clapping
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#54

(25-12-2022, 05:38 PM)sgh Wrote:  I don't intend to give them my monies already willed to charities. I don't believe in inheritance concept becuz I get none so why should I give to my offspring? They no hand no leg cannot earn a living themselves?

Huh
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#55

(25-12-2022, 03:55 PM)Oyk Wrote:  Why not feasible?

It's just a bit of admin and foot work nia.

For some banks like CIMB, you can even do it in the comfort of your home.
Are there 40 banks in Singapore that provide fixed deposit facility? That's for just $3 million. If someone wants to FD $6 million where to find 80 banks in Singapore? That's why I said it is not feasible for large amounts. .... Rolleyes

 Thinking is difficult, that's why most people judge
                    Carl Jung
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#56

(25-12-2022, 06:12 PM)Huliwang Wrote:  Are there 40 banks in Singapore that provide fixed deposit facility? That's for just $3 million. If someone wants to FD $6 million where to find 80 banks in Singapore? That's why I said it is not feasible for large amounts. .... Rolleyes

How many ppl have $6 million or even $3 million to invest...........? Thinking
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#57

(25-12-2022, 10:02 AM)hansamu Wrote:  No need...too troublesome and time consuming. 
Banks are stringently regulated by MAS in SG.

Deposit millions also okay.

the problem is he doesn't have millions to deposite
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#58

Got lah, including all kujin kuraj ones there're about 200, all regulated by mas. But duno they handle small amounts
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#59

(25-12-2022, 02:38 PM)Levin Wrote:  Me too. I did not know ICBC is bigger until I read about it in 亚洲周刊 a while back. BTW, US banks don't take SGD deposits AFAIK (or they don't give good interest rates).

ICBC is world no. 1 in size.   

In the top 10 banks, China has 5.   


[Image: Bank-Ranking.png]
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#60

(25-12-2022, 06:16 PM)debono Wrote:  How many ppl have $6 million or even $3 million to invest...........? Thinking
If you want to know go ask banks. ..... Rolleyes

 Thinking is difficult, that's why most people judge
                    Carl Jung
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