Hahaha. But my house to the UOB branch I go is like hardly 5 minutes drive only lol.

Usually you will have one account number only, the FD receipt cert is different though. When statement comes, one FD account will show all the FD numbers on the statement.

Ah Flo ah.., can ask a bit one ah..

Usually Ah Goat, Ah Boom, Ah Gen, Ah Magika got RM assigned all leng lui one.
Ah Flo RM how ah.., leng chai...

Next month got a bit FD maturity, hope lah promo all still on..


This post has been edited by magika: Oct 14 2014, 09:06 PM

Cause my parents making will. And they do not want to pay lawyer anymore if place new fd (you need to pay lawyer to update the will)

So if they put new fd in say scb, scb will give them new cert with new account no. So if they update the will with the new fd, they need to pay lawyer.

That is why they want to know if they can get all same account no from the same bank. That way, no need to pay lawyer.

SCB not possible..even worse, the numbers are not in sequence too..

Oh.. thats why I ask so got new angle to think about.

Like that BR, OCBC, MBB practise same account number but different cert number. SCB have to ask guys there, but basically must deposit in same branch. Suggest then before deposit to ask counter or RM before depositing, dont think that hard to inquire. Particulars must be the same of course, meaning if single depositor then all must be single depositor. I wont know whether will can enforced joint deposit account.

Now you mentioned parents, joint account with either to sign in most banks have succesion policy, meaning if one konk, another can withdraw.

This post has been edited by magika: Oct 14 2014, 09:19 PM

need to update into WILL, EVERY time there is a new FD deposit?
was never informed of that before,
was told to write...."ALL my monies in banks will be...."
the bank will use in NRIC to check.....when I am gone.

So then better not put in SCB for that purpose or....can use standing instruction for upliftment on maturity to specific account number.

good info..

Aiyah, if that is the case, solution so easy, ask your parent to only place new FDs at banks that have same account number only (e.g. ABB, UOB and HLB).

Anyway, the lawyer should be able to advise your parents and draft the will accordingly to your parents instructions.

Yah, join account easiest but better not inform bank the other KO dy. Quietly and immediately go uplift. Only set back of anyone can sign is that any of the signatory can also quietly go uplift the FD without the other party prior knowledge especially for Statement Based Accounts.

But it still save you the hassle to find parking spot

This post has been edited by Gen-X: Oct 14 2014, 09:48 PM

That is something wrong with your SCB branch manager, I did not put any money in my JustOne CA and SA
when I placed my 4.25% FD.

You can call SCB help-line to verify - 1 300 888 888 (24 hours toll free)

All the while you are a bad guy ma..!! Now you only know yourself is a bad guy meh..??


Joking..joking..calm down...

You are welcome...
Please do not mention "stupid", everybody needs to learn from the beginning..

This is quite true, have to introduce a leng chai RM for Ah Flo wor...
OCBC lah.. OCBC sure can provide leng chai RM for Ah Flo..
I am serious, OCBC has more leng chai and leng lui..

If you have FD will mature next month, see if you can place 3 months FD first, and to wait for Bank Negara meeting
which held in early November....


This post has been edited by BoomChaCha: Oct 14 2014, 10:04 PM

Yeah, I found out she didn't speak the truth because it is very obvious they (she and her staffs) are going for sales. Kept asking why I want to open a Just One acc, whether I will deposit any money within 3 months. Later on, the guy who handled my slip confided that actually it is possible and proceeded to persuade me to help him out. To save myself from all the hassle, I opened another BSA.

I have written an email to SCB and waiting for reply.

I lost confidence with the helpline because when I called to asked whether the FD promo is still available or not, he said ended (referring to the old 4.25% promo) and I had to get him to re-check and out me on hold for few minutes. They need to work on their standard

Don't need to specific every account number or FD cert in will.

Just state in will like all money in ABC bank FD account with joint name with X goes to x person.

Not interested in waiting as per day will lose my pocket money, eat grass loh, think I am Ah Goat meh..
Hope you and AH Goat update me on latest promo next month, but most probably let it remain where it is.

Statement based is actually better than cert.

Statement
- your joint name party quietly withdraw the money, next month knew already when statement comes. While there is one bank does send letter to inform particular FD has been uplifted once the uplifting is made. So cannot "quietly" withdraw.

Cert
- no statement, forever don't know your joint party has withdraw the money if you don't hold on the cert.
Even you have the cert, the joint party can report it as a loss, and replace with another and withdraw, and your old cert is invalid, and forever think you still have the money with a invalid cert.

Also, with cert, when old time, may forget where it placed already, and may forget how many cert has been placed.
Statement, everything clear in a page.

My experience:

With statement- OCBC, UOB, CIMB

No statement- BR, Ambank

Statement based is good as usually old people sometimes misplaced their FD cert, sometime keep a bit here and there, at last dont remember how may cert they have. The best is statement plus cert.

I know SCB staffs can earn incentives when help customers to open saving accounts.

When I placed my 5% FD with SCB about 2 years ago, the SCB staff "helped" me to open
6 to 7 different saving accounts, he was straight forward to me that he wanted to make
more incentives...

When we placed our FD with SCB this time, I think to open JustOne CA & SA was a prerequisite
for this FD promo based on these 3 reasons that I can think of:
(1) to credit interest every 6 months
(2) to participate 4% Bonus Saving offer
(3) to use Renewal Instructions based on customers' preferences

When you call SCB helpline, if they cannot give you the correct answer on the spot, you can
ask them to call you back for the right answer.

Your SCB branch did not do a right thing to you.
The money you put in JustOne saving account can earn 2% interest during promotion period
if I am not mistaken..

This post has been edited by BoomChaCha: Oct 14 2014, 10:49 PM

Yes, for Statement Base by next month will know if other party made any withdrawal. But like I said - without prior knowledge and only need to bring NRIC. By the time the other party receive the statement too late.

As for the cert, yeah, can always report as lost and get a new one but need to do some work (hassle) and may be illegal (false report). And the other party only finds out when he goes to the bank when FD matures. But then the party holding the cert can build a case against the other party; for statement base nothing can be done.

I hate the Statement Base Accounts, every month I get stack of papers. Previously, UOB PB will sent me a summary of all my accounts in a single letter. Now, I get more than 10 different statements (even if the a particular FD account got RM0, and they will also sent a letter if any FD is uplifted to be renewed at promo rate). Add that to my OCBC statements (DCI RM0 also get statement) plus my other bank current account statements, I have to waste a lot of time opening the letters plus filing them up.

And you guys know lah I have many credit cards. So many statements to read for a half blind man is a torture you know.

This post has been edited by Gen-X: Oct 14 2014, 11:00 PM

Good guy Uncle Magic, don't pull me in lah. You can always perform magic to turn grass to anything u want.

So keep you bullet ready for next month ? All loaded next month ?

This post has been edited by bbgoat: Oct 14 2014, 10:54 PM

Wow, so many FD multimillionaire sifus here! I stumbled upon this thread when I am researching for the best FD rates in Malaysia and was very surprised by the amount of information here and also at sifu Gen-X's blog!

Currently I have all my funds in my flexi-loan CA to offset the loan interests which is about 4.95% pa. Isn't it better for me to just leave my funds there instead of putting into FD which has a lower yield of ~3.9% pa ? Flexi-loan interest repayment is calculated daily and I can withdraw my funds anytime in case of emergency where as for FD I'm lockdown for x no. of months.

This post has been edited by kimmo88: Oct 14 2014, 11:03 PM