[No referrals] Chocolate Finance

[reflecx]

i am in the industry but not in chocolate finance, if you are invested , the correct question you need to put across to them is how much % of my money is ringfenced.

This is from CF FAQ -
"3. Segregated funds: All funds invested with Chocolate Finance are segregated and held separately by third-party licensed custodians. This means if anything happens to us – your money is still safe. Only the balancing item (i.e. any top-up that we may have provided) is not protected (and this is why we can't say your capital is guaranteed)."

Are you able to tell whether 100% is ringfenced all the time?

 

[iceblendedchoc]

This is from CF FAQ -
"3. Segregated funds: All funds invested with Chocolate Finance are segregated and held separately by third-party licensed custodians. This means if anything happens to us – your money is still safe. Only the balancing item (i.e. any top-up that we may have provided) is not protected (and this is why we can't say your capital is guaranteed)."

Are you able to tell whether 100% is ringfenced all the time?

The capital is ring fenced then and top up also (subjected to the undermentioned), just that returns is not after 31 Mar 2025 unless they state othewise, let say in the event, everything they invested go down, there is a chance your funds values are redeemed lower. so you may get back your capital at that value but not what you invested initially. So this is as good as saying get out by 31 Mar 2025

What is the Chocolate Top-Up Programme and its Qualifying Period?



The Top-Up Programme is a promotional incentive. It's been put in place to support the returns on your first S$50k (currently 3.3% p.a. on your first S$20k and 3% p.a. on your next S$30k) and your first US$50k (currently 4.6% p.a. on your first US$20k and 4.2% p.a. on your next US$30k) during the Qualifying Period.

This means, if for some reason, the portfolio underperforms, the difference will be topped up so you enjoy the current rate.

The Qualifying Period runs from now until 31 March 2025, or until the assets under management for the Chocolate Managed Account reach S$1 billion—whichever comes first. Chocolate may, at its discretion, choose to extend or remove the Top-Up Programme.

Chocolate reserves the right to make changes to the Qualifying Period or adjust its rates at any time without prior notice. The Top-Up Programme will apply to the revised rate as long as it's within the Qualifying Period. For more details, please refer to the liquidity and top-up terms and conditions. (You may like to read up on this)

Risk disclosure : This programme does not guarantee capital or returns. Chocolate reserves the right to pause or stop the programme at any time due to market disruptions, over-utilisation, excessive withdrawals, exchange restrictions, or other force majeure events.

 

[AndroidComa]

once hit 1bil the top up programme will be scraped?

 

[CrashWire]

once hit 1bil the top up programme will be scraped?

Doesn't need to hit 1 bil. Chocolate has stated clearly in their T&Cs that they can extend or stop the programme at their discretion.

 

[wira]

looking forwrd to choc finance guarantee 4.6% for USD first 20K

 

[xsoldix]

looking forwrd to choc finance guarantee 4.6% for USD first 20K

be careful of forex risk.
USD looking to devalue from POTUS policy..

 

[wav35_]

seems like they are doing away with top ups via DDA.
way too many physical advices sent by DBS.

now its only via paynow and bank transfer.

 

[hwmook]

seems like they are doing away with top ups via DDA.
way too many physical advices sent by DBS.

now its only via paynow and bank transfer.

Something wrong with their interface, you scroll down to bottom, see the top up your balance and maximise returns icon, tap it and it will return you to previous page, I just top up using linked account, still work fine.

 

[wav35_]

Something wrong with their interface, you scroll down to bottom, see the top up your balance and maximise returns icon, tap it and it will return you to previous page, I just top up using linked account, still work fine.

yea you are right, i just followed ur steps and the DDA appear again.

but honestly i might just use bank transfer (already added them as payee) cos really receiving too many DBS advices.

 

[ekardo]

anyone tried using chocolate credit card for road tax? error encountered is "please use another credit card"

 

[AndroidComa]

anyone tried using chocolate credit card for road tax? error encountered is "please use another credit card"

it is a debit card right
inside got funds ma?

 

[AndroidComa]

looking forwrd to choc finance guarantee 4.6% for USD first 20K

rcv email to say my registration is successful and can now convert in the app
interestingly the matched top up is for each currency
sgd up to 50k and usd up to 50k
but then they also earn via conversion la
SG$ 1 to 0.74755
US$ 1 to 1.33170

at present time poems bid 1.3352 ask 1.3353

 

[wira]

rcv email to say my registration is successful and can now convert in the app
interestingly the matched top up is for each currency
sgd up to 50k and usd up to 50k
but then they also earn via conversion la
SG$ 1 to 0.74755
US$ 1 to 1.33170

at present time poems bid 1.3352 ask 1.3353

i just got the invitation too ..

pity cannot transfer USD directly but understandable as they also want to earn from the conversion fx

 

[monoblue]

I got accepted for the early access to the usd fund account.

I play around with the conversion, let say I convert:
1. SGD20,000, I will get USD14905.35
2. Then convert USD14905.35, I will get SGD19910.56

Immediately lost SGD89.44

 

[hwmook]

rcv email to say my registration is successful and can now convert in the app
interestingly the matched top up is for each currency
sgd up to 50k and usd up to 50k
but then they also earn via conversion la
SG$ 1 to 0.74755
US$ 1 to 1.33170

at present time poems bid 1.3352 ask 1.3353

Obviously they will earn from foreign conversion, most of the brokers also earn. From the numbers, it seem that you lose 0.45% for a round trip so not too bad.

 

[wira]

ok lah ..you get guaranteed 4.6% already right

 

[coconut1]

The e-giro function suddenly became disabled. Topping up using joint account quite cumbersome due to need to send documentary proof via whatsapp chat. Finally after topping up, a debit card transaction was declined but the funds were deducted...think the operations cannot keep up.

 

[sglandscape]

The e-giro function suddenly became disabled. Topping up using joint account quite cumbersome due to need to send documentary proof via whatsapp chat. Finally after topping up, a debit card transaction was declined but the funds were deducted...think the operations cannot keep up.

Think they rely on DBS for these services? Not sure what happeed there. For debit card, funds will disappear even if transaction fail, then refund back later.

 

[hwmook]

The e-giro function suddenly became disabled. Topping up using joint account quite cumbersome due to need to send documentary proof via whatsapp chat. Finally after topping up, a debit card transaction was declined but the funds were deducted...think the operations cannot keep up.

They say mantainence until 11Mar. I don't have any problem using the card, gotten my 1k this month.

 

[chesscub]

Has anyone applied for their debit card recently? I applied on 9/2 but still have not received it and it has been more than 2 weeks already...