BOC SmartSaver

[zoossh]

anyway BOC has been around since my Grandma time. Her time she only got BOC dont even have posb. Even now she has only one bank account and i.e. BOC.

Not that I am trying to say BOC is good. if you have no trust in tiong bank just put zhun zhun $50k. u will be fully protected by SDIC

It's better if no additional software is needed to set up their internet banking. Dunno if there's any spyware with it.

 

[19degC]

boc celebrating 80 yrs next yr

its just shallow to think lesser of them

 

[Allen_C_Sharp]

Ya, capital wise they r bigger n richer than any of the local banks, but the ib sucks, also can't link cc to account must use debit card to withdraw from atm, troublesome sia.
Btw, anyone noticed the said Max interest 3.55% can never be hit, I calculate max 3.48% for first 60k, but $174/mth should be highest in the market now.

 

[sgdividends]

Why is there a need to link CC to this smartsaver account?

I asked the counter staff at Katong. there is no need to link the CC...just spend and hit 500.

Inteface really sucks and i dont understsnd why they need to Link savings account through the internet banking before it can be displayed.Really silly to do extra step, in addition to having to install the software....

Anyway, for those with smartsaver...did the word " smartsaver " appear in your IB account or just savings account? Customer service at katong was a bit stun when i logged in and showed her there is no smartsaver word but only savings account before going to her backroom and coming out saying there is no smartsaver wording.....kinda feel insecure that if i meet all 3 criteria then they say sorry made a mistake...

 

[19degC]

smartsaver is just a metaphor

this account is in fact a multi currency account

 

[devion]

Why is there a need to link CC to this smartsaver account?

I asked the counter staff at Katong. there is no need to link the CC...just spend and hit 500.

Inteface really sucks and i dont understsnd why they need to Link savings account through the internet banking before it can be displayed.Really silly to do extra step, in addition to having to install the software....

Anyway, for those with smartsaver...did the word " smartsaver " appear in your IB account or just savings account? Customer service at katong was a bit stun when i logged in and showed her there is no smartsaver word but only savings account before going to her backroom and coming out saying there is no smartsaver wording.....kinda feel insecure that if i meet all 3 criteria then they say sorry made a mistake...

Agree that the initial setup was not as easy like any other local banks. Need to link..etc. My BOC credit cards also cannot be displayed....not sure how to link them to the online bank account....thought all these should be automated.
No settings seen to increase limits, modify notifications...etc.
Thus the online banking experience is really below par if compare to rest of local banks.
Hope their bonus int for the Smart saver acct does not screw up......

 

[purpletoysmum]

Each credit card needs to be brought down to the bank for linking. If you don't have the PIN number, they have to reset your PIN. One by one.

 

[hyperbole]

Ya, capital wise they r bigger n richer than any of the local banks, but the ib sucks, also can't link cc to account must use debit card to withdraw from atm, troublesome sia.
Btw, anyone noticed the said Max interest 3.55% can never be hit, I calculate max 3.48% for first 60k, but $174/mth should be highest in the market now.

Can explain why max interest cannot be hit?

 

[edwinttt1978]

hopefully haha...so this month no full 1.55%+0.6%+base currency le.

Since salary i dont have haha

now have to whack ocbc 500 and boc 500 lol

Ok to have no salary.
Merely having $60k in BOC and spending $500 with a BOC card are good enough.
Getting $77.50 with $500 spend, that works out to be a whopping 15.5% rebate from a BOC card! Individual BOC card rebate has not been included.

In order to prolong the lifespan of the benefits, BOC should not expend money unnecessarily.
A backward internet banking platform is detestable but still manageable.

 

[Allen_C_Sharp]

Can explain why max interest cannot be hit?

Because in the prevailing interest rate table, only the 10k between 50k n 60k earns the highest tier interest @0.4%, thus the first 60k interest is 3.48% instead of 3.55%, although not much dif...

 

[Allen_C_Sharp]

Why is there a need to link CC to this smartsaver account?

I asked the counter staff at Katong. there is no need to link the CC...just spend and hit 500.

Inteface really sucks and i dont understsnd why they need to Link savings account through the internet banking before it can be displayed.Really silly to do extra step, in addition to having to install the software....

Anyway, for those with smartsaver...did the word " smartsaver " appear in your IB account or just savings account? Customer service at katong was a bit stun when i logged in and showed her there is no smartsaver word but only savings account before going to her backroom and coming out saying there is no smartsaver wording.....kinda feel insecure that if i meet all 3 criteria then they say sorry made a mistake...

The reason I like link cc to savings account:
1. Debit card is not safe compared to cc, especially this boc debit got master logo, anyone pick it up can use it n it's more difficult to get the money back in cases of fraudulent transactions as compared to cc imho.
2. Cc link to savings account is convenient that u dun need to bring another additional card in ur wallet, can directly use as ATM card, DBS/UOB/Ocbc all have such facility but I am surprised boc doesn't have although it is a much larger n richer bank in the world.
In a word, I dun like debit card

 

[hyperbole]

The reason I like link cc to savings account:
1. Debit card is not safe compared to cc, especially this boc debit got master logo, anyone pick it up can use it n it's more difficult to get the money back in cases of fraudulent transactions as compared to cc imho.
2. Cc link to savings account is convenient that u dun need to bring another additional card in ur wallet, can directly use as ATM card, DBS/UOB/Ocbc all have such facility but I am surprised boc doesn't have although it is a much larger n richer bank in the world.
In a word, I dun like debit card

i don't like debit card too. but you can set the debit card transaction limit in internet banking and only use it as atm card. shop card i just leave at home cos i only use for online purchases.

cimb also cannot link cc to savings account. for atm withdrawal overseas, i prefer standalone atm cards without credit or debit functions. i feel it's much safer and i won't accidentally withdraw a cash advance.

 

[hyperbole]

Because in the prevailing interest rate table, only the 10k between 50k n 60k earns the highest tier interest @0.4%, thus the first 60k interest is 3.48% instead of 3.55%, although not much dif...

eh the table never say only 10k between 50k and 60k earns 0.4% leh. is there another table?

 

[pcmdan]

haha but the ibank is way too backward. I cant even login from my phone. And merely using token kinda bring alot of inconvenience.

I will just take BOC as my savings acct and cont using OCBC as my operational account.

 

[Allen_C_Sharp]

eh the table never say only 10k between 50k and 60k earns 0.4% leh. is there another table?

Oops, maybe I misunderstood, u mean all 60k can earn 0.4% not like UOB one got tier? Oh that's good then, can earn 3.55% if true.

 

[hyperbole]

haha but the ibank is way too backward. I cant even login from my phone. And merely using token kinda bring alot of inconvenience.

I will just take BOC as my savings acct and cont using OCBC as my operational account.

Closing my OCBC account so I don't have to maintain the min

 

[hyperbole]

Oops, maybe I misunderstood, u mean all 60k can earn 0.4% not like UOB one got tier? Oh that's good then, can earn 3.55% if true.

For UOB, they put first 10k, next 10k etc. Wording is different. I guess we will know when we get the interest.

 

[pcmdan]

Closing my OCBC account so I don't have to maintain the min

haha would love to close if any banks start to give such high interest at >100k savings haha

 

[pcmdan]

based on the T&Cs there is no tiering system. Hence I believe above 60k is 0.4%. Will update all once i have it haha

 

[hyperbole]

i just called boc they said cannot change the statement date. damned stupid.