Omg tried to withdraw money from chocolate finance cannot immediate withdrawal. Say need up to 10 working days to withdraw

[AndroidComa]

Mob behaviour

Bank runs are usually started by rumors

and usually such rumors are quickly extinguished
but CF until now is MONITOR lizard only

 

[Cyber_Ghost]

https://sethisfy.com/why-withdrawin...ce-now-takes-days-which-is-the-industry-norm/

Some comfort for investors here?

he sparked it
now trying to damage control?

He scare liao?

damages done, too late and difficult to convince others liao.

hope he kena 9696 for such irresponsible video.

 

[rayzzzz82]

Is the chocolate debit card affected?

 

[agent_719]

Chocolate finance hear the name already scared liao.

reminds me of those cny gold coin chocolate .. very easy melt

 

[win_man]

Just saw sgbudgetbabe ig stories on the clarifications. If those messages are legit and was shared widely earlier, the situation wouldn't have escalated until spill to other companies. I am sure will have ppl also withdraw from syfe and stashaway, etc.

 

[nwstbz23]

Digital banks are still banks. Need SDIC coverage one.

CF's official website (https://www.chocolatefinance.com/) mentions that it is not covered under SDIC.
See below:

Are you covered by the SDIC Singapore Deposit Insurance Corporation, for up to S$100,000?

Chocolate Finance is not covered by the Singapore Deposit Insurance Corporation (SDIC) because we are not a bank. Banks have SDIC protection because if the bank fails, your money is at risk. Chocolate operates differently. Your funds with Chocolate Finance are held separately by trusted custodians, HSBC and State Street, under the management of our fund managers, and are ringfenced in the event that anything happens to Chocolate.

 

[Visor9999]

https://www.chocolatefinance.com/

Based on the marketing on the website, it seems to me that it sold the idea of a frictionless and seamless experience. It also conveyed the impression of strong liquidity.

Isn’t it the same as those online betting sites

 

[yves]

He scare liao?

damages done, too late and difficult to convince others liao.

hope he kena 9696 for such irresponsible video.

What do you expect from Influencer ?

 

[Visor9999]

Weather too hot chocolate melted.

Where is Willy wonka when he is needed

 

[ctan84]

CF's official website (https://www.chocolatefinance.com/) mentions that it is not covered under SDIC.
See below:

Wayyyyyyyyyyyy earlier I already said CF isn't a digital bank. The person earlier asked about digital banks, hence my reply on the SDIC.

 

[Visor9999]

What do you expect from Influencer ?

Sg Govt should throw him to Changi for many years as he inciting a bank run

 

[Evcats]

Should You Trust SG Financial Influencers?​

1. They "Tok Kong" Like Hawker Uncles:
   These influencers ah, talk until like they’re the next Warren Buffett – "Eh, buy this stock lah, confirm 100% returns!" But hor, sometimes they just "wayang" (act) like they know everything. Like dat time kopitiam uncle tell you "this week 4D sure open 1st prize!" – you trust meh?
2. Why They So Enthusiastic?
   • Sponsors & Affiliate Links:
     Many influencers get paid to promote certain platforms or products. Like dat time you see them say *"eh, use my link get free 50!"∗–butactually,theyalsoget50!"∗–butactually,theyalsoget50 from your sign-up. Confirm "win-win"... for them lah!
   • Content = Clout:
     The more they post, the more followers they get. Like dat time your auntie post 10x a day on Facebook – "eh, you influencer ah?"
   • Genuine Passion (Some Lah):
     A few actually know their stuff, but hard to tell sia. Like dat time you eat "bak chor mee" – some stalls damn good, some taste like "chewing rubber".

My Humble Opinion:​

1. Do Your Homework:
   If you follow their advice, better check if they "eat their own cooking" – like, do they invest in what they promote? Or just "wayang" for the ‘gram? Like dat time your friend say "this prata shop damn good!" but he secretly eat at McDonald’s.
2. Don’t Anyhow "Chiong":
   Just because they say "Bitcoin to the moon!" doesn’t mean you sell your HDB to buy crypto. Later you end up like "moon" – no air, no water, just floating in space.
3. Influencers ≠ Experts:
   Some influencers ah, got certification from "University of Google". Like dat time you watch YouTube and think you can fix your sink – end up flood the whole house.

Why They Push Advice So Hard?​

1. Money Talks:
   Sponsored posts, affiliate commissions, ads – all "ka-ching" sound. Like dat time you see them promote "investment course $999" – their BMW installment due next week lah.
2. FOMO Marketing:
   They make you scared miss out. "Eh, last chance to buy this stock!" – but hor, the stock market not going anywhere, like your NS bunkmate who still stays in Tekong.
3. Ego Boost:
   Getting likes and followers is shiok sendiri (self-satisfying). Like dat time you post gym photo on IG and feel like Rocky Balboa, even though you only lift 2kg dumbbells.

Conclusion:​

Take their advice like you take "teh tarik" – sip slowly, don’t anyhow "chug". Do your own research, and if something sounds too good, confirm got "wayang" behind it.

And remember ah, if investing was so easy, these influencers won’t be stuck making TikTok videos – they’d be sipping champagne on their yacht lah!

Steady pom pi pi, don’t anyhow kena "burn" by "get-rich-quick" schemes.

 

[yves]

Sg Govt should throw him to Changi for many years as he inciting a bank run

LEt the Chocolat shoot him until pant drop lor.

 

[tmster]

and usually such rumors are quickly extinguished
but CF until now is MONITOR lizard only

I googled the founder's name and he really has a lizard face.

 

[kimwee]

today $1 also need to wait 3-10 days!

Yea just saw it in news. Think something happened or wat suddenly bank run

 

[bh2148]

chocoLATE.
what do u expect..

Melt in your mouth not in your hands? Therefore if there's any rumours by words of mouth gone case.

 

[cpuer]

Looks like Choco Finances is not the same league as HL finance

 

[Acetone]

today $1 also need to wait 3-10 days!

Not a good look at all… this and the debit card disabling probably proves that influencer was right in having low trust in them.

Confidence is key for such businesses…

 

[Visor9999]

2 major cause is one is due to DBS down on friday result withdrawal halt and second mentioned in seth video is the AXS issue, chocolate blamed AXS for stopping their card initially in faq then after verification from AXS, the issue is actually by chocolate finance who request their card to be block… then chocolate finance later secretly update their FAQ

This means they have liquidity issues if their card cannot use

 

[AndroidComa]

Not a good look at all… this and the debit card disabling probably proves that influencer was right in having low trust in them.

Confidence is key for such businesses…

and still no official statement from them on their webpage, since 7.30am