hope scb announce fast if they wanna change the rate. wanna decide whether to go open an account...

I just open this PSA last week and is thinking of transfering rm90k from SSPN to PSA or OCBC360?
Would like to confirm the following:
1) IBFT is free from PSA to other banks' account?
2) What is the max IBFT per day?
3) Interest rate for this month still stay at 3.6%?

1) Yes



2) RM 50k



3) No announcement so far presumed as it is

Thanks bro, is there a cut off time like ocbc360's 9.45pm to be considered as same day transaction?

Good if it is 12am, I will transfer to OCBC360 b4 9.45pm and from OCBC360 transfer to PSA after 9.45pm.

Every day transfer big amount will be flag by the system?

ocbc outgoing max 30k

yes. due diligence analyst will call u twice a month. one from the branch u open account, one from HQ.

The other day I FPX > rm30k from OCBC360 to sspn.

Just few times a month lah. Will try to deposit at AM n out after 10PM.

This post has been edited by MGM: May 12 2020, 11:38 PM

Im not working in banking, so im not sure what’s really the threshold to trigger DD analyst.

However, the way banks looking at it is cumulative deposits and cumulative withdrawal in one calendar year.

Let’s say the threshold is 150k for a saving acc, So if u have cumulative deposits within a month breached 150k, that’s a trigger point, im not sure what’s the actual threshold, but definitely below than 450k based on my knowledge.

They don’t bother (especially new hires analyst) to find the relationship maybe the 30k u deposit is recycle money, meaning to and from scb/ocbc 30k, they will contact u. Experience analyst will look at pattern, investigate further and close the case themselves.

Again, at end of the day, IT IS NOT ILLEGAL, and u may do so, in my very limited knowledge of banking, as i get to ‘oversee’ only not a banker nor DD analyst, just expect noobies DD analyst to call u.

Bu doing so, u can earn 2.75% on the 30k and say 60k from scb if u have net cash of 60k only. Untung 2.75% la on 30k.

Again, dont get me wrong. I am not against it, just giving friendly reminder. Please proceed just that expect analyst to email/call u. Unless the analyst also malas, instead simply email/call client, they go do further tracing, then should be fine

Thanks for giving me an idea but I was not even thinking of transfering to and from ocbc/scb, it is just a 1 off thing. SSPN>OCBC360>PSA>EPF(end-of month). Didnt calculate but I think can earn only a few RM only lah, hehehe.

Instant transfer for RM30k. Can't comment for FPX although i always thought after hours it will only clear the next day?

Anything doing this
OCBC>SCB everyday?

If everyday 30k 30k, is the large number. Worry the bank close your Saving Account and ask for Current Account instead.

Will LHDN come and have tea time with you since so large amount and transaction?

This post has been edited by jiaen0509: May 13 2020, 11:26 AM

If you wanna avoid LHDN or SCB team calls or audits, then better don't do it.

I got a feeling that PSA interest rate will be revised very soon and will be effective starting 1/7/2020

Based on https://av.sc.com/my/content/docs/my-announ...seniorsaver.pdf

No eyes see the interest rate already...

What reason u give them?

Oh I did not say they called me. I might be SCB ex DD analyst for all you know 😜

So what are the top 5 reason people tell you, ex DD analyst? 😆