We have seen a few revamp from some of the banks such as the recent policy update by UOB One account effective 1st August 2018. Being a financial savvy adult becomes complicated nowadays, with the abundance of many deposit accounts out there such as the CIMB FastSaver Account and BOC SmartSaver Account at your discretion to earn higher interests.
Honestly, I have not been the most updated on the subject and hence was late in switching my deposit accounts to one with a higher interest. In fact, it is almost 6 months late since the revamp of the DBS Multiplier Account. Better late than never?
I have peers who are also hesitant to switch to better accounts due to the hassle involved such as informing the HR to amend the salary crediting account and the need of moving large sums of money to a new account.
As we know, different …