BOC SmartSaver

[wts2013]

is there any minimum balance to maintain on the account? any fall below fee? any fee for the debit card? any other fee? the website doesn't mention anything.

hahaha, if u understand how this BOC Smartsaver operates, u will know where to find the info:

“BOC SmartSaver is a savings plan for BOC Multi-Currency Savings (MCS) account holders to earn bonus interests on top of prevailing interests when you fulfill the required criteria. Introducing a smarter way to earn up to 3.55% p.a. with BOC SmartSaver.”

So u are actually using the MCS account, so MCS features:

Statement-based monthly consolidated account.
Single or Joint account.
An initial deposit of S$1,500 is required.
S$3 will be charged if the monthly average balance in the SGD sub-account is less than S$1,500.
Easy access via ATM Card, BOC Internet Banking and Telephone Banking services.

 

[Soul77]

I see. Ok. found all the info on the consolidated fees table.

 

[Polar Bear King]

going to open on Sat,bring a CC FT 1.88%pa cheque to deposit in very convenient.

 

[SCG8866T]

Stars are aligning, my HR say my this month salary can enter boc. I also paid 3 $5 payment using BoC. Will also spend $500 by this month, looks like im going to get the full 3.55% immediately lol.

 

[Verbatin]

do i need a pin when I bring along my credit card to link? I don't know what is my Pin for my BOC credit card

yes, but terrible interface and functionality. have to install some stupid software and only use it on IE.

had to bring my credit card and pin down to the branch to get it linked. not sure if you add subsequent accounts need to do the same or not.

 

[benlau1]

Stars are aligning, my HR say my this month salary can enter boc. I also paid 3 $5 payment using BoC. Will also spend $500 by this month, looks like im going to get the full 3.55% immediately lol.

But I really wonder how does BOC identify the salary payment via GIRO?

Also - is FAST same as GIRO?

 

[SCG8866T]

But I really wonder how does BOC identify the salary payment via GIRO?

Also - is FAST same as GIRO?

No its diff, they will check the counterparty make sure its your employment company, they will also make sure its a giro which means every month consistent crediting.

Salary crediting use diff account no. than FAST transfer.

BOC is a 12trillion yuan asset backed bank owned by the Chinese state, established eons before posb was even founded, so its not a run of a mill bank that can be easily decepted.

 

[19degC]

do i need a pin when I bring along my credit card to link? I don't know what is my Pin for my BOC credit card

they will reset the PINs onsite and ask u to rekey the PINs

 

[chopra]

btw, MOD there are 2 threads on similar this, should we combine them?

Pls pm mod. U expect him to read every post like a nerd?

 

[chopra]

(2.25%+3.25%)/2 = 2.75% is average for illustration,
The dif 1% is incremental bonus interest.

Flip ah flip

 

[pcmdan]

Pls pm mod. U expect him to read every post like a nerd?

is just a suggestion right...why so freaking attitude.. I realise the people here are so damn powerful in giving critics instead of adding value..

i do not know any protocol..since it attracted people like u to read it, what makes u think the mod wont do so? since u seee it, u can always pm them...

power in hiding behind a monitor and acting macho...

 

[Perisher]

Pls pm mod. U expect him to read every post like a nerd?

is just a suggestion right...why so freaking attitude.. I realise the people here are so damn powerful in giving critics instead of adding value..

i do not know any protocol..since it attracted people like u to read it, what makes u think the mod wont do so? since u seee it, u can always pm them...

power in hiding behind a monitor and acting macho...

Guys, chill.

Anyway as chopra says, mod doesn't read every post or even every thread. If anything requires mod's attention, do use the report button or pm me. Thank.

pcmdan, which other thread are you referring to that is similar to this thread?
Can provide direct link here or pm me?
Thank.

 

[OngHuatHuat]

There is another one in credit card section.

Target reader are different though.
I see people that replied in that thread very different from this thread.

Guys, chill.

Anyway as chopra says, mod doesn't read every post or even every thread. If anything requires mod's attention, do use the report button or pm me. Thank.

pcmdan, which other thread are you referring to that is similar to this thread?
Can provide direct link here or pm me?
Thank.

 

[Perisher]

There is another one in credit card section.

Target reader are different though.
I see people that replied in that thread very different from this thread.

Oh, that one. It's fine to have 2 threads in seperate sub-forum if there is enough support. If needed, can merge too.

Anyway, this BOC MCA isn't technically CC but more.

 

[chopra]

is just a suggestion right...why so freaking attitude.. I realise the people here are so damn powerful in giving critics instead of adding value..

i do not know any protocol..since it attracted people like u to read it, what makes u think the mod wont do so? since u seee it, u can always pm them...

power in hiding behind a monitor and acting macho...

Sorry. I dun mean tt. I pm perisher occasionally fyi.

U get e pt can liao

 

[Allen_C_Sharp]

Hi all

Sorry for some noob questions. I saw the RMB Fixed deposit promo when opening this account, what are the risks and factors to consider? Besides forex.. The bank staff did not mentioned any fee..

Is it worth to take our SGD to the bank to convert to rmb and put in the rmb deposit? I have never done any foreign currency FD. It is 3.3% for 6 months, what other costs should I factor in? Thanks

The only cost is 10% devaluation of sgd to cny from 1:5(past years avg) to 1:4.5(exchange rate now), if u change now by 1:4.5 and later rise to 1:4.8 then u lose out forex to the 3% interest.
The rest nothing much to worry about, they are "big 4" in China also #4 in global 2000 company list, stronger than most of the banks here in capital/revenue/profit.

 

[pcmdan]

Oh, that one. It's fine to have 2 threads in seperate sub-forum if there is enough support. If needed, can merge too.

Anyway, this BOC MCA isn't technically CC but more.

http://forums.hardwarezone.com.sg/c...-facilities-243/boc-smartsaver-5219627-6.html

I dont know how different it is. BOC Smart Saver under credit card facilities is not Credit Card. Unless, BOC Smart Saver is a Credit Card or Line of Credit. Which apparently, it isnt and it is more of a OCBC 360 kind of product offering that the Bank provides.

IMO, they are referring to the same thing. Of course, others can think of it differently. I have no objection. But I believe they share similarity.

 

[aoptionwriter]

Please note that BOC's exchange rate spread for SGD/RMB is worst than Arcade. If you aim is for the gain of interest rate, it is better to exchange it outside before going to bank.

Hi all

Sorry for some noob questions. I saw the RMB Fixed deposit promo when opening this account, what are the risks and factors to consider? Besides forex.. The bank staff did not mentioned any fee..

Is it worth to take our SGD to the bank to convert to rmb and put in the rmb deposit? I have never done any foreign currency FD. It is 3.3% for 6 months, what other costs should I factor in? Thanks

 

[rerear]

anyone after opening able to see the MCS account show in IB?

 

[pcmdan]

anyone after opening able to see the MCS account show in IB?

must go register the account in IB
under account overview, there is 2 tabs. Click the right tab..register it