BOC SmartSaver

[bargin]

BOC's actions tell me their focus is on growing their FD business, drop min balance to 200 so customers are more willing to open accounts and do FD online, so dun crowd their branches.

Hopefully it will be less crowded at BOC branches but doubt with those less IT Savvy aunties will still go to the branches to withdrawal/re-placement their FD with higher rate

 

[royalmix]

Hopefully it will be less crowded at BOC branches but doubt with those less IT Savvy aunties will still go to the branches to withdrawal/re-placement their FD with higher rate

Just use the app, leave the branch visits to old uncle and aunties, unless
I am not interested in FD for now, with rising interest rates

 

[sgbird]

If BOC changes the min balance from 1500 to 200, I will not close account anyway. Give a hope to BOC since it had the highest flexible saving interet rate island

 

[ckman3]

paisay, is supersaver a current account?

BOC confirmed Supersaver is a current account and will be subject to the same new min of $200 and fall below fee of $7.50 come Jan 2023. However, to continue to earn the bonus interest, there need to be a min of $3000 for the Supersaver account.

 

[ekardo]

BOC confirmed Supersaver is a current account and will be subject to the same new min of $200 and fall below fee of $7.50 come Jan 2023. However, to continue to earn the bonus interest, there need to be a min of $3000 for the Supersaver account.

bonus interest? It’s pathetic now. Advice to move on.

 

[ckman3]

Thks. Agree currently 0.1% for 1st 20K is not good. Was good while it lasted.
Come Jan 2023 will reduce to new minimum.

 

[sgbird]

BOC confirmed Supersaver is a current account and will be subject to the same new min of $200 and fall below fee of $7.50 come Jan 2023. However, to continue to earn the bonus interest, there need to be a min of $3000 for the Supersaver account.

Thank you for the information. Definitly will move and reduce to min amount. Just in case BOC one day re-activate the smart saver plan

 

[sohguanh]

I see readers in for the BOC smart saver plan. For me is for their FD which require a savings account so I guess different readers different reasons

 

[ckman3]

Thank you for the information. Definitly will move and reduce to min amount. Just in case BOC one day re-activate the smart saver plan

Not sure abt the SmartSaver. I just confirmed for SuperSaver only.

 

[vsvs24]

I tried to transfer from my UOB account to BOC Smartsaver. But it was reversed immediately and returned to UOB.

 

[sohguanh]

Not sure abt the SmartSaver. I just confirmed for SuperSaver only.

Actually from the BOC mobile app can see Smart Saver is called multi-currency savings account which is $200 I confirm with CSO also. Basically as long as multi-currency savings account and current account which website put is $200 from 1 Jan 2023 onwards.

 

[sgbird]

Not sure abt the SmartSaver. I just confirmed for SuperSaver only.

What I can read from BOC website it says that SuperSaver and SmartSaver just special saving programs, they are all based on multic-currency saving account. This multi-currency account is the account what we used for transfer in and out. So I think the min. balance requirement should apply to smartsaver as well

 

[sgbird]

BOC Smart saver just increased their saving interest, effective from 1 Jan 2023, quite competitive to UOB one and OCBC 360

 

[NTTDoCoMo]

BOC Smart saver just increased their saving interest, effective from 1 Jan 2023, quite competitive to UOB one and OCBC 360

Managed to find it in the Wechat - Official Account
https://mp.weixin.qq.com/s/rlLXKmfdr19u4qXosYfQ_A
https://www.bankofchina.com/sg/pbservice/pb1/202212/t20221230_22348761.html

 

[vsvs24]

Managed to find it in the Wechat - Official Account
https://mp.weixin.qq.com/s/rlLXKmfdr19u4qXosYfQ_A

等你等到花儿也谢了

 

[sgbird]

等你等到花儿也谢了

HAHAH, WAIT LONG LONG LONG, ALMOST DECIDE TO CANCEL THE ACCOUNT LIAO

 

[vsvs24]

HAHAH, WAIT LONG LONG LONG, ALMOST DECIDE TO CANCEL THE ACCOUNT LIAO

I was planning to withdraw bal from $1500 to $200 on 1 Jan.

 

[NTTDoCoMo]

I was planning to withdraw bal from $1500 to $200 on 1 Jan.

Maybe need to change plan or wait till Feb

 

[vsvs24]

Maybe need to change plan or wait till Feb

Will change plan of course.

 

[longfart]

Thank you BOC for raising the interest rates…
But also thank you very much for making me spend time researching on other accounts… ):