Saving accounts

• fwy87

  22 Nov 08, 18:12

  Hello,

  I have a couple of questions that I'd like to ask the general community.

  I am currently saving up and was wondering if anybody has any informed recommendation/sound advise as to which bank would be best to have this amount of cash placed into?

  My train of thought:

  1) Have enough in a DBS account, mainly because they have possibly the most number of ATMs around Singapore and they'd be the easiest to access cash when I need it. Top it up whenever its getting under a certain set-point/threshold.

  2)Split up my amount of cash and place them into a few other accounts, in case one bank collapses, I will not lose everything

  
  Also, does anybody know the difference between a DBS Saving Plus account and a POSB Saving Plus account?

  
  Any advise or suggestions will be much appreciated.

  Thank you very much :)

• unclebutcher

  22 Nov 08, 20:49

  i thought the MAS guarantees all bank deposits of all amounts till 2009 or 2010? anyway singapore's banks are stable lah, unlikely to collapse