BOC SmartSaver

[pcmdan]

Anyone uses BOC account to pay CITIBANK credit card? can't seems to be the citibank credit card code in the bill payment payee.

Boc account can't pay...only can pay via axs...

 

[johanyu]

Apologies for my ignorant. I only know that bonus interest is based on Avg monthly balance like now...

PS for the wrong info provided just now

thanks all for sharing, so it is the average monthly balance for additional interest rate

 

[roberttty10]

Credit card 0.8%/1.6% bonus

For the credit card spend 0.8%/1.6% bonus, say if i have 2 cards - is the min spend of $500/$1500 per calendar month consolidated between my 2 cards? Or must be only 1 card

Eg, BOC FAMILY $1000, BOC SHENG SIONG $500 in same calendar month.

I read their website but i am still unsure.
http://www.bankofchina.com/sg/pbservice/pb1/201611/t20161130_8271280.html

 

[naro]

For the credit card spend 0.8%/1.6% bonus, say if i have 2 cards - is the min spend of $500/$1500 per calendar month consolidated between my 2 cards? Or must be only 1 card

Eg, BOC FAMILY $1000, BOC SHENG SIONG $500 in same calendar month.

I read their website but i am still unsure.
http://www.bankofchina.com/sg/pbservice/pb1/201611/t20161130_8271280.html

Yes. All boc credit and debit cards with some excluded transactions.

 

[aliciatanxt]

If I have only $20,000 for the first 15 days, then I add 100K for the second 15 days of the month, will this average of $60K get the max interest of 3.55%?
Or for the second 15 days, I'll just get 60K for 3.55% and 1% for 40K?

It's based on average daily balance, capped at $60k for the 3.55%. Which means [($20000 x 15) + ($100000 x 15)]/ 30 = $60000 = average daily balance

Which means you'll get 3.55% on the whole sum, no extra 1% becos your average balance doesn't exceed $60k

 

[Trazora]

It's based on average daily balance, capped at $60k for the 3.55%. Which means [($20000 x 15) + ($100000 x 15)]/ 30 = $60000 = average daily balance

Which means you'll get 3.55% on the whole sum, no extra 1% becos your average balance doesn't exceed $60k

The prevailing/base interest is calculated daily. For $20k, prevailing interest is 0.35%. For $50k and above prevailing interest is 0.4%.

He topped at $100k in the later 15 days so balance is $120k.

Assuming all the requirement for bonus interest are met.

Prevailing interest = 0.35%×15/365×$20k + 0.4%×15/365×$120k = $22.60

Average daily balance = [($20000 x 15) + ($100000 x 15)]/ 30 =$70k

Bonus interest = (3.15%×$60k+0.6%×$10k)×30/365 =$160.27

 

[Perisher]

Is the highest one can get from this BOC with 60k, $180/mth?

 

[Trazora]

Is the highest one can get from this BOC with 60k, $180/mth?

3.55%×60k×31÷365= $180.90 on months with 31 days

 

[Perisher]

3.55%×60k×31÷365= $180.90 on months with 31 days

That's what I understand too. Thanks.

 

[Jupiter2017]

I have corrected my previous post#3882. It is regarding the way prevailing interest is calculated. If daily balance is kept constant at $60k throughout the month, it is easier to calculate. If daily balances fluctuate throughout the month, the prevailing interest calculation becomes more complex due to the tiered interest rates.

 

[compro_1975]

Monthly spending of 1.5k is calendar month? while to clock 500 on family card is base on cycle right? Seems boc can't change bill cycle...

 

[shpesft]

Monthly spending of 1.5k is calendar month? while to clock 500 on family card is base on cycle right? Seems boc can't change bill cycle...

Credit card spend bonus for this account is based on Calendar month.

Rebate for BOC Family card is based on statement bill cycle month.

 

[Heyland]

Does donation to charity count towards the $500 spend requirement?

 

[chopra]

has anyone closed this account before? how to? can just take out money

 

[newjungle]

Does donation to charity count towards the $500 spend requirement?

Only retail transactions count towards the $500. I know some banks don't consider donation as retail txn, but i haven't try BOC card yet.

 

[Trazora]

Does donation to charity count towards the $500 spend requirement?

Yes counted if you charge to the credit/ debit card, and not via AXS.

 

[pcmdan]

Anyone faces huge issue paying with their debit card on axs? I get to key otp and everything but transaction still fail

Tried for the past 3 days

 

[hyperbole]

Anyone faces huge issue paying with their debit card on axs? I get to key otp and everything but transaction still fail

Tried for the past 3 days

Cannot use

 

[pcmdan]

Cannot use

Damn cui hor...don't know why they so unstable

 

[PholkLorr]

This smart saver is Multi currency so i can transfer USD to this account right?

Anyone knows if BOC is better for doing remittance to US bank than DBS remittance? I wanna fund/withdraw funds from my Gemini account in USD. DBS multi currency account need 3k daily balance so it's not so good