Saving accounts

fwy87 SG

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 SG

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