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

[EJB]

all using custodians. need see their t&c.

iirc, ewallets need to get payment service license.

investments like chocolate finance got capital markets service license.

Yup, you are right. When you top up to ShopeePay, GrabPay etc... the funds are protected by their supporting banks. Not any ah gao ah mao can open a AnyPay. People still store money on the platform, use it to get rebates where possible.

Investments like MooMoo, EndowUs, WeBull, ChocFin also need the license and authority by MAS to operate in SG. MAS don't just open like it's free also, a lot of things to check and consider. If so easy, I open my own bank and take deposits liao.

 

[sunsetbay]

Do what then will not regret

Mr loo use SG life expectancy as a guage and said it will go higher~ this give a misconception that SG life expectancy will continue keep growing~ it will probably takes another generation to increase another 5yrs~

his viewers probably didn't know is while the life expectancy in SG is 83, half of sinkies didn't live pass 83~ another important factor is SG healthy life expectancy is actually around age 74~ imagine if one need money for medication but all his fund is locked up at RA, he can only bang ball~

Mr Loo didn't show the breakeven age if one decided to put ERS~ he also say he will able to take $4k+ but didn't show any projection if one put FRS (reminder put at OA) vs all-in ERS~ he didn't warn his viewers that once you start withdraw CPFLife, the RA interest goes to the pool and not back to the RA~

I did a calculation, if one put FRS and reminder at OA vs all-in $426k into ERS, withdraw at 65~ if one passed on at age between 74 to 80, his/her beneficiaries actually get more than the one that opt for ERS~ another thing is that once CPF credit the monthly payout from RA, you can't put back to OA to earn interest~ if i opt for FRS and reminder put at OA, the OA still can continue earn the 2.5% interest~

I would say, one should look at his/ her family history, if you see yourself live pass 82, have excess cash fund and dunno about investment then opt for ERS~ else, FRS may have a better flexibility~

 

[sacredrays]

Yup, you are right. When you top up to ShopeePay, GrabPay etc... the funds are protected by their supporting banks. Not any ah gao ah mao can open a AnyPay. People still store money on the platform, use it to get rebates where possible.

Investments like MooMoo, EndowUs, WeBull, ChocFin also need the license and authority by MAS to operate in SG. MAS don't just open like it's free also, a lot of things to check and consider. If so easy, I open my own bank and take deposits liao.

ya need follow the rules of the license.

all using custodian. e.g. moomoo and webull use dbs, endowus use uob kayhian

 

[sacredrays]

Mr loo use SG life expectancy as a guage and said it will go higher~ this give a misconception that SG life expectancy will continue keep growing~ it will probably takes another generation to increase another 5yrs~

his viewers probably didn't know is while the life expectancy in SG is 83, half of sinkies didn't live pass 83~ another important factor is SG healthy life expectancy is actually around age 74~ imagine if one need money for medication but all his fund is locked up at RA, he can only bang ball~

Mr Loo didn't show the breakeven age if one decided to put ERS~ he also say he will able to take $4k+ but didn't show any projection if one put FRS (reminder put at OA) vs all-in ERS~ he didn't warn his viewers that once you start withdraw CPFLife, the RA interest goes to the pool and not back to the RA~

I did a calculation, if one put FRS and reminder at OA vs all-in $426k into ERS, withdraw at 65~ if one passed on at age between 74 to 80, his/her beneficiaries actually get more than the one that opt for ERS~ another thing is that once CPF credit the monthly payout from RA, you can't put back to OA to earn interest~ if i opt for FRS and reminder put at OA, the OA still can continue earn the 2.5% interest~

I would say, one should look at his/ her family history, if you see yourself live pass 82, have excess cash fund and dunno about investment then opt for ERS~ else, FRS may have a better flexibility~

cpf life is insurance annuity

 

[Bumperbee88]

GrabPay, ShopeePay, FavePay etc, are all not banks either, they are riding on banks at the backend as they keep finance and balance. If these *Pay fails, the banks supporting them will take over.

For investments, no banks will support them, they are just either licensed and approved by MAS to operate.

chocolate is not even listed

 

[MrAwesomeX]

Scared simi... $20K only, don't overthink things, panic and hysteria is all manmade.

Got daiji MAS already announce liao.

Monitor lizard only .

Qoo10 also liddat

 

[Bumperbee88]

Mr loo use SG life expectancy as a guage and said it will go higher~ this give a misconception that SG life expectancy will continue keep growing~ it will probably takes another generation to increase another 5yrs~

his viewers probably didn't know is while the life expectancy in SG is 83, half of sinkies didn't live pass 83~ another important factor is SG healthy life expectancy is actually around age 74~ imagine if one need money for medication but all his fund is locked up at RA, he can only bang ball~

Mr Loo didn't show the breakeven age if one decided to put ERS~ he also say he will able to take $4k+ but didn't show any projection if one put FRS (reminder put at OA) vs all-in ERS~ he didn't warn his viewers that once you start withdraw CPFLife, the RA interest goes to the pool and not back to the RA~

I did a calculation, if one put FRS and reminder at OA vs all-in $426k into ERS, withdraw at 65~ if one passed on at age between 74 to 80, his/her beneficiaries actually get more than the one that opt for ERS~ another thing is that once CPF credit the monthly payout from RA, you can't put back to OA to earn interest~ if i opt for FRS and reminder put at OA, the OA still can continue earn the 2.5% interest~

I would say, one should look at his/ her family history, if you see yourself live pass 82, have excess cash fund and dunno about investment then opt for ERS~ else, FRS may have a better flexibility~

He is not even a train financial advisor. And start telling people what should or should not in investment. I think most viewers are of little or no knowledge in financial matters. Ended up many of this people made the wrong choice. He use disclaimers to protect himself, but again, those viewer have no idea what to do with their CPF. Instead of paying a little to get a proper porfessional advisor , they turn to free advise that have no recourse.

 

[hmyoth]

Don’t top up RA account ! ! ! My RA is FRS, balance in OA. I leave it there to earn 2.5%. If 65 my payout cannot cover my expenses which is unlikely then I withdraw some from OA per mth or use my savings in my bank. Emergency need big lump sum at least I can tap on my OA / saving account balance .

 

[Bumperbee88]

Scared simi... $20K only, don't overthink things, panic and hysteria is all manmade.

Got daiji MAS already announce liao.

Too some 20k matter a lot to them , while other 1mil matter a lot.

 

[Bumperbee88]

Comments by the Monetary Authority of Singapore on Chocolate Finance​

Singapore, 12 March 2025… The Monetary Authority of Singapore (MAS) notes that Chocolate Finance, an online robo advisory service operated by Chocfin Pte Ltd (Chocfin), and Allfunds, an independent fund custodian, have issued a joint press statement on the security of Chocfin’s fund holdings and orderly processing of withdrawals.
2. Digital advisors are required to segregate customer assets from their own. In particular, customers’ assets and monies must be held in independent custody by custodians licensed and regulated by MAS. Customer monies must remain intact and cannot be used to meet the liabilities of the digital advisor at all times. MAS notes the confirmation provided by both Chocolate Finance and Allfunds that these requirements have been fully met. MAS continues to engage Chocolate Finance to ensure that all customer withdrawals will be met in an orderly fashion.


Did Chocolate use customer funds to investment arm?

 

[wulu1_69]

Mr loo use SG life expectancy as a guage and said it will go higher~ this give a misconception that SG life expectancy will continue keep growing~ it will probably takes another generation to increase another 5yrs~

his viewers probably didn't know is while the life expectancy in SG is 83, half of sinkies didn't live pass 83~ another important factor is SG healthy life expectancy is actually around age 74~ imagine if one need money for medication but all his fund is locked up at RA, he can only bang ball~

Mr Loo didn't show the breakeven age if one decided to put ERS~ he also say he will able to take $4k+ but didn't show any projection if one put FRS (reminder put at OA) vs all-in ERS~ he didn't warn his viewers that once you start withdraw CPFLife, the RA interest goes to the pool and not back to the RA~

I did a calculation, if one put FRS and reminder at OA vs all-in $426k into ERS, withdraw at 65~ if one passed on at age between 74 to 80, his/her beneficiaries actually get more than the one that opt for ERS~ another thing is that once CPF credit the monthly payout from RA, you can't put back to OA to earn interest~ if i opt for FRS and reminder put at OA, the OA still can continue earn the 2.5% interest~

I would say, one should look at his/ her family history, if you see yourself live pass 82, have excess cash fund and dunno about investment then opt for ERS~ else, FRS may have a better flexibility~

True, going to withdraw amount excess of frs and not going to lock up for ers just to get higher payout

 

[sacredrays]

Comments by the Monetary Authority of Singapore on Chocolate Finance​

Singapore, 12 March 2025… The Monetary Authority of Singapore (MAS) notes that Chocolate Finance, an online robo advisory service operated by Chocfin Pte Ltd (Chocfin), and Allfunds, an independent fund custodian, have issued a joint press statement on the security of Chocfin’s fund holdings and orderly processing of withdrawals.
2. Digital advisors are required to segregate customer assets from their own. In particular, customers’ assets and monies must be held in independent custody by custodians licensed and regulated by MAS. Customer monies must remain intact and cannot be used to meet the liabilities of the digital advisor at all times. MAS notes the confirmation provided by both Chocolate Finance and Allfunds that these requirements have been fully met. MAS continues to engage Chocolate Finance to ensure that all customer withdrawals will be met in an orderly fashion.


Did Chocolate use customer funds to investment arm?

means none of the customer money is part of their liquidity buffer lor..

 

[MrAwesomeX]

Comments by the Monetary Authority of Singapore on Chocolate Finance​

Singapore, 12 March 2025… The Monetary Authority of Singapore (MAS) notes that Chocolate Finance, an online robo advisory service operated by Chocfin Pte Ltd (Chocfin), and Allfunds, an independent fund custodian, have issued a joint press statement on the security of Chocfin’s fund holdings and orderly processing of withdrawals.
2. Digital advisors are required to segregate customer assets from their own. In particular, customers’ assets and monies must be held in independent custody by custodians licensed and regulated by MAS. Customer monies must remain intact and cannot be used to meet the liabilities of the digital advisor at all times. MAS notes the confirmation provided by both Chocolate Finance and Allfunds that these requirements have been fully met. MAS continues to engage Chocolate Finance to ensure that all customer withdrawals will be met in an orderly fashion.


Did Chocolate use customer funds to investment arm?

No evidence of that .

But they did screwed cheapo AXS mile users including influencers that trigger a short bank run and mass panic among existing customers.

Maybe they ought to attract customers that doesn't trigger bank runs and sabotage the business for no reasons.

 

[Travis_Touchdown]

moi juz deleted their app... hengz moi neber applied for their card... almost applied...

 

[articland05]

so how?
have everyone gotten back your millions?

 

[NightGhost]

pls don’t call CF a bank.

they are NOT a bank.

Investment company?

 

[Acetone]

so how?
have everyone gotten back your millions?

TS has 6 figure pending withdrawal lor…

 

[speedsonic]

Don’t top up RA account ! ! ! My RA is FRS, balance in OA. I leave it there to earn 2.5%. If 65 my payout cannot cover my expenses which is unlikely then I withdraw some from OA per mth or use my savings in my bank. Emergency need big lump sum at least I can tap on my OA / saving account balance .

yah of course, but 2.5% is pathetic real nthing. also not as if you're planning to get flat..

 

[OutBreak]

Investing in Chocolate Finance carries certain risks that potential investors should carefully consider:


1. Lack of Capital Guarantee


Funds invested with Chocolate Finance are allocated to short-term bond funds, which are subject to market fluctuations. Consequently, there is no assurance of capital preservation, and investors may experience losses.


2. Recent Operational Challenges


In March 2025, Chocolate Finance faced an unusually high volume of withdrawal requests, prompting the temporary suspension of instant withdrawals. Withdrawals during this period were processed within three to ten days, reflecting potential liquidity management challenges.


3. Adjustments to Rewards Programs


The company had to disable certain payment options due to customers exploiting its miles reward program, leading to unsustainable transaction volumes. This indicates vulnerabilities in program management and the need for rapid policy adjustments.


4. Non-Guaranteed Returns


While Chocolate Finance advertises attractive returns, these are not guaranteed and are subject to change based on market conditions. Investors should be aware that actual returns may vary, and past performance does not necessarily predict future results.


Given these factors, investing in Chocolate Finance entails a higher risk profile compared to traditional savings options. Prospective investors should thoroughly assess their risk tolerance and consider these aspects before committing funds.

 

[The_Davis]

Mr loo use SG life expectancy as a guage and said it will go higher~ this give a misconception that SG life expectancy will continue keep growing~ it will probably takes another generation to increase another 5yrs~

his viewers probably didn't know is while the life expectancy in SG is 83, half of sinkies didn't live pass 83~ another important factor is SG healthy life expectancy is actually around age 74~ imagine if one need money for medication but all his fund is locked up at RA, he can only bang ball~

Mr Loo didn't show the breakeven age if one decided to put ERS~ he also say he will able to take $4k+ but didn't show any projection if one put FRS (reminder put at OA) vs all-in ERS~ he didn't warn his viewers that once you start withdraw CPFLife, the RA interest goes to the pool and not back to the RA~

I did a calculation, if one put FRS and reminder at OA vs all-in $426k into ERS, withdraw at 65~ if one passed on at age between 74 to 80, his/her beneficiaries actually get more than the one that opt for ERS~ another thing is that once CPF credit the monthly payout from RA, you can't put back to OA to earn interest~ if i opt for FRS and reminder put at OA, the OA still can continue earn the 2.5% interest~

I would say, one should look at his/ her family history, if you see yourself live pass 82, have excess cash fund and dunno about investment then opt for ERS~ else, FRS may have a better flexibility~

Will you go for BRS and rest leave in OA?
And start payout at 65?