Standard Chartered XtraSaver Account used to be my darling account.
It often adds up to a few dollars cash rebates each month
Now I have decided to close my XtraSaver Account and put the funds into better use.
Not too long ago, I realised they reduced the MasterCard transaction cashback from 2% to 1%! and removed the 0.5% cashback on NETs transactions!
So sad, didn’t inform me.
Is it a big deal with the reduction in cashback?
It is because my funds can grow much faster in another savings account that gives much better interest rates as compared to the cashback received from XtraSaver Account.
The savings account is from OCBC.