Standchart eSaver

[vsvs24]

I can see it on app. Maybe it's patched

Yah. Patched

 

[Squaredot]

Just to confirm, the minimal sum I have to maintain in the StanChart eSaver account is $3000 to avoid a fall-below fee? Seems very high compared to other banks.

Priority no need to maintain min sum, otherwise it's $1k min. Fall-below fee $5 quite high..

 

[reiser]

Should b $1K

Priority no need to maintain min sum, otherwise it's $1k min. Fall-below fee $5 quite high..

Thank you. I thought I read on the internet that it’s $3000. I just transferred $2k out.

 

[Squaredot]

Thank you. I thought I read on the internet that it’s $3000. I just transferred $2k out.

I just double check, it's still $1k

https://www.sc.com/sg/save/savings-accounts/esaver/
Scroll to the bottom, see "Key Charges"

 

[redglue23]

I’m now slightly concerned. For those on the 3.65% invite from 1 Sept. . We get the bonus 3.60% on the ADB of our entire balance right? No comparison or incremental ADB needed. As long as there is $100k more on 30/9 compared to 31/8, right? And after 30/9 can just withdraw the $100k if we want to. Will still earn the 3.65% for whatever amount we have in the eSaver account till 31/1 2024. Subject to $5m limit. Do correct me if my understanding is different from yours. Thanks.

For the Sep 2023 3.65% selected offer, will be on incremental ADB compared to July 2023 ADB. This is in addition to the 31 Aug-30 Sep +S$100K. No where was July ADB requirement mentioned in the t&c offer, I was only told about this "hidden" July 2023 ADB requirement when I went to the bank. Got a black and white email confirmation from SCB branch manager. I did not want to risk another FIDReC fight, not that I will lose, but it is a f waste of my time.

SCB really must brush up their act and their promo t&c, even the branch RM is blur about the 3.65% promotion mechanism, I had to correct the branch RM multiple times and read the t&c for her. I encourage everyone to feedback to MAS on how SCB is running their CASA promotions.

 

[WoShiPro]

I always empty my account after each promotion. Don't need to leave $1k inside.

If there nothing in account they can't even charge fall below fees.

 

[d5dude]

I’m now slightly concerned. For those on the 3.65% invite from 1 Sept. . We get the bonus 3.60% on the ADB of our entire balance right? No comparison or incremental ADB needed. As long as there is $100k more on 30/9 compared to 31/8, right? And after 30/9 can just withdraw the $100k if we want to. Will still earn the 3.65% for whatever amount we have in the eSaver account till 31/1 2024. Subject to $5m limit. Do correct me if my understanding is different from yours. Thanks.

https://www.sc.com/sg/terms-and-conditions/esav-s23/

Its on the entire ADB with no "incremental" ADB required.

 

[magicming]

For the Sep 2023 3.65% selected offer, will be on incremental ADB compared to July 2023 ADB. This is in addition to the 31 Aug-30 Sep +S$100K. No where was July ADB requirement mentioned in the t&c offer, I was only told about this "hidden" July 2023 ADB requirement when I went to the bank. Got a black and white email confirmation from SCB branch manager. I did not want to risk another FIDReC fight, not that I will lose, but it is a f waste of my time.

SCB really must brush up their act and their promo t&c, even the branch RM is blur about the 3.65% promotion mechanism, I had to correct the branch RM multiple times and read the t&c for her. I encourage everyone to feedback to MAS on how SCB is running their CASA promotions.

Oh dear. That’s not very fair. Thanks so much.

 

[magicming]

https://www.sc.com/sg/terms-and-conditions/esav-s23/

It’s on the entire ADB with no "incremental" ADB required.

Thanks so much. That’s what I thought. But Redglue23 mentioned in couple of posts above a different mechanism with email confirmation.

 

[changruihao]

Yes wondering about this too for october exclusive promo #o23. From my understanding for exclusive promos is that once the 100k condition is satisfied, interest is credited upon whole balance not incremental. Incremental only for public scheme. So the 2 conflicting statements on the prev page quite confusing

 

[CaptainWu]

For the Sep 2023 3.65% selected offer, will be on incremental ADB compared to July 2023 ADB. This is in addition to the 31 Aug-30 Sep +S$100K. No where was July ADB requirement mentioned in the t&c offer, I was only told about this "hidden" July 2023 ADB requirement when I went to the bank. Got a black and white email confirmation from SCB branch manager. I did not want to risk another FIDReC fight, not that I will lose, but it is a f waste of my time.

SCB really must brush up their act and their promo t&c, even the branch RM is blur about the 3.65% promotion mechanism, I had to correct the branch RM multiple times and read the t&c for her. I encourage everyone to feedback to MAS on how SCB is running their CASA promotions.

Pardon me where you got July from the Branch? The T&C don't even have July word there so how is that possible to compare with July ADB?

 

[CaptainWu]

Yes wondering about this too for october exclusive promo #o23. From my understanding for exclusive promos is that once the 100k condition is satisfied, interest is credited upon whole balance not incremental. Incremental only for public scheme. So the 2 conflicting statements on the prev page quite confusing

Look like a lot like me are wondering and that's why I chatted CSO but no confirmation until the Bonus payment...Anyway whatever done is done for Sep so we are just risking the fund there till 20th Oct in this case. I would surely raise an dispute if SCB turns down as I still think nothing wrong, hopefully no need.

 

[zippo1979]

I have been on the 3.55% Special Esaver Invite from 1st July to 30th September 2023, with the ONLY condition being each month's MONTH END BALANCE must be higher than 30th June's day end balance.

There is no incremental ADB comparison and the 3.55% p.a. is paid on the entire account balance. The only thing to watch is the bonus interest(s) can be split into 2 components to be paid out, but when added together, it will be 3.50% + 0.05% (base) = 3.55% p.a.

I have now been invited for a similar 3.55% Special Esaver Invite from 1st October 2023 to 31st January 2024, where the ONLY condition being 31st October's end of day balance must be $100k above 30th September's end of day balance.

Once again, no mention of any ADB comparison.

I have saved a copy of the TNCs to be safe, but from my observation of the July to September workings, I would not be too worried about it.

I hope Redglue23 'hidden clause' is a miscalculation or a system glitch because it would definitely result in a significant loss to me since my August or September ADB would be high as I was participating in the earlier Special Invite too.

 

[changruihao]

Yea same. Just gonna fufill the condition of 100k. Also conflicting info from 2 RM when i called yst. One said that the 100k is calculated using ADB formula and that value must be 100k higher than ADB of sept. Asked for more clarity and he confirmed that their definition of EOD balance = ADB. Called 1 hr later and new RM refuted everything and said that EOD is real EOD balance on that day itself

 

[zippo1979]

To me, these 2 paragraphs (cut and paste) are very clear:

To qualify for the Promotion, (i) you must have received the Invitation Notice, (ii) you must deposit fresh funds^ into your Eligible Account(s), such that the end-of-day deposit balance on 31 October 2‌023 is at least S$100,000 higher than the end-of-day deposit balance on 30 September 2‌023, and (iii) your Eligible Account(s) must be validly existing, in good standing, and conducted in a proper and satisfactory manner at all times including at the time of crediting of Bonus Interest (as defined below). Where these requirements are satisfied, your Eligible Account(s) shall be referred to as "Qualifying Account(s)".

In addition to prevailing interest of 0.05% p.a. ("Prevailing Interest") earned on your entire deposit balance in the Qualifying Account(s), you may earn the relevant bonus interest ("Bonus Interest") at the bonus interest rate of 3.50% p.a. ("Bonus Interest Rate") on the first S$5,000,000 of the average daily balance ("ADB") in your Qualifying Account(s) during the Promotion Period. The Bonus Interest Rate shall apply from 1 October 2‌023 to 31 January 2‌024 (both dates inclusive). Any amount of ADB exceeding S$5,000,000 shall earn the Prevailing Interest only. Visit our website and search for the keyword #o23 to view the full terms and conditions that apply.

 

[zippo1979]

Yea same. Just gonna fufill the condition of 100k. Also conflicting info from 2 RM when i called yst. One said that the 100k is calculated using ADB formula and that value must be 100k higher than ADB of sept. Asked for more clarity and he confirmed that their definition of EOD balance = ADB. Called 1 hr later and new RM refuted everything and said that EOD is real EOD balance on that day itself

the first RM is nonsense.. for his meaning, the correct phrase should be Average Daily Balance for the Month calculated at Month End.

End of Day Balance is end of day balance. LOL

 

[Devilsire]

For the Sep 2023 3.65% selected offer, will be on incremental ADB compared to July 2023 ADB. This is in addition to the 31 Aug-30 Sep +S$100K. No where was July ADB requirement mentioned in the t&c offer, I was only told about this "hidden" July 2023 ADB requirement when I went to the bank. Got a black and white email confirmation from SCB branch manager. I did not want to risk another FIDReC fight, not that I will lose, but it is a f waste of my time.

SCB really must brush up their act and their promo t&c, even the branch RM is blur about the 3.65% promotion mechanism, I had to correct the branch RM multiple times and read the t&c for her. I encourage everyone to feedback to MAS on how SCB is running their CASA promotions.

huh, sure anot?

​ Dear Valued Client, As our valued client, you can earn up to 3.65% p.a. interest for 5 months on your e$aver balances. From now till 31 January 2‌024, you will earn interest on balances in your eligible e$aver account(s) in the manner as set out below. Simply top up your account with fresh funds^ of minimum S$100,000 by 30 September 2‌023, such that your deposit balance on 30 September 2‌023 is at least S$100,000 higher as compared to your deposit balance on 31 August 2‌023, to qualify for the promotion.​

e$aver Exclusive Bonus Interest (September 2‌023) Promotion Terms and Conditions:

This e$aver Exclusive Bonus Interest (September 2‌023) Promotion ("Promotion") is available starting from 1 September 2‌023 to 31 January 2‌024 ("Promotion Period"). This communication sent to you, notifying you of the Promotion and inviting you to participate in this Promotion ("Invitation Notice"), is non-transferrable and only existing customers who have received the Invitation Notice from the Bank are eligible for this Promotion. Your existing e$aver, e$aver Kids! and/or World Partner Savings account(s) of which you are the primary account holder, and any new e$aver, e$aver Kids! and/or World Partner Savings account(s) which you open as the primary account holder during the Promotion Period, shall be collectively referred to as "Eligible Account(s)" and each, an "Eligible Account".

To qualify for the Promotion, (i) you must have received the Invitation Notice, (ii) you must deposit fresh funds^ into your Eligible Account(s), such that the end-of-day deposit balance on 30 September 2‌023 is at least S$100,000 higher than the end-of-day deposit balance on 31 August 2‌023, and (iii) your Eligible Account(s) must be validly existing, in good standing, and conducted in a proper and satisfactory manner at all times including at the time of crediting of Bonus Interest (as defined below). Where these requirements are satisfied, your Eligible Account(s) shall be referred to as "Qualifying Account(s)".

In addition to prevailing interest of 0.05% p.a. ("Prevailing Interest") earned on your entire deposit balance in the Qualifying Account(s), you may earn the relevant bonus interest ("Bonus Interest") at the bonus interest rate of 3.60% p.a. ("Bonus Interest Rate") on the first S$5,000,000 of the average daily balance ("ADB") in your Qualifying Account(s) during the Promotion Period. The Bonus Interest Rate shall apply from 1 September 2‌023 to 31 January 2‌024 (both dates inclusive). Any amount of ADB exceeding S$5,000,000 shall earn the Prevailing Interest only. Visit the link above for full terms and conditions that apply.

 

[magicming]

the first RM is nonsense.. for his meaning, the correct phrase should be Average Daily Balance for the Month calculated at Month End.

End of Day Balance is end of day balance. LOL

I agrée thé first RM is wrong. It’s clearly end of day balance on the specific days mentioned. Also there is no “July” ADB mentioned in the sept 3.65% terms. Why July and not Aug or June?

 

[magicming]

Yes wondering about this too for october exclusive promo #o23. From my understanding for exclusive promos is that once the 100k condition is satisfied, interest is credited upon whole balance not incremental. Incremental only for public scheme. So the 2 conflicting statements on the prev page quite confusing

Yes. Conflicting. But I’d follow the actual written terms.

 

[changruihao]

the first RM is nonsense.. for his meaning, the correct phrase should be Average Daily Balance for the Month calculated at Month End.

End of Day Balance is end of day balance. LOL

Ya i agree also. Thats why called 2nd time.
But just to confirm my understanding. The calculation date is 31st oct. I 30th oct(monday working day) top up 100k criteria is still satisfied right?