For historical reason, most of my cash investments are with finatiQ. The reason is because finatiQ started off as the first (and only) attempt to be a fully online bank in Singapore. I brought into the indea and moved most of my cash there.
When it lanched in around 2000, it offered the highest interest rate among all the banks for fixed deposit. Now its cash deposit interest (1.38% p.a) is even higher than fixed deposit (0.75% p.a).
Things I like about finatiQ
- Easy transfer of cash between OCBC which I have an account. (Bank of Singapore is owned by OCBC)
- Fixed deposit. Nice option but not attractive enough to see a need to use it.
Things finatiQ can improve
- Portfolio information is too minimal. One point I take issue with is the lack of buying price, date brought and return.
- Navigation. I have no idea where to look for information I want.
Popularity: 90%
You should try moving to Fundsupermart. The interest rate for cash account is much higher and the features provided are much more robust.
BTW, I have review of FSM here.
Is that so? I hardly hold cash and didn’t know that FSM have a cash account. Didn’t they advise investors to put into money market funds?