BOC SmartSaver

[edwinttt1978]

Let me quote from BOC website

"Prevailing interest rate for MCS Account is based on tier basis. The more you deposit the higher interest rate you can earn."

Above $50k 0.4%. How do you guys interpret this

Notice that BOC does not use 'first $5,000', 'next $5,000', 'next $20,000' or 'next $50,000'.
The absence of such terms means that BOC intended to use only a single tier (out of four) in its calculation of base interest from the first dollar. Accordingly, $50,000 earns an interest of 0.4% pa on the entire sum.

 

[fortunecat]

For the new policy, anything paid on AXS is not considered, or only the payment of other bank's credit card?

Just found that cannot set recurring payment for my Prudential insurance premium, dun accept BOC card argh...

 

[jemcerato]

Hi Gurus here

After reading, kinda of confused.

1) if I do not hav salary credit nor credit card expenditure, is esavers e best? How do we max out the %?

2) BOC started mobile banking according to some Bros comments here. Any specific links I can refer to? I did Google but seems to be linked to the China mobile app?

 

[Trazora]

Hi Gurus here

After reading, kinda of confused.

1) if I do not hav salary credit nor credit card expenditure, is esavers e best? How do we max out the %?

2) BOC started mobile banking according to some Bros comments here. Any specific links I can refer to? I did Google but seems to be linked to the China mobile app?

1) esaver would be one of the best. Minimize the balance in the reference month (month before the new promotion period) and transfer money in on the 1st of the month of the promotion period, to maximize the amount of "fresh funds".

2) Search for BOC mobile banking in google playstore. It has the BOC logo. It is international version and you would need to select Singapore after installation. Need to setup the mobile banking username and password in the BOC internet banking (web version).

 

[juswyq]

anyone know if buying ntuc fairprice vouchers will get the 5% supermarket rebate on the family card?

 

[Trazora]

anyone know if buying ntuc fairprice vouchers will get the 5% supermarket rebate on the family card?

Yes, if meet spending requirement

 

[juswyq]

thanks

 

[jemcerato]

Thanks!!

1) esaver would be one of the best. Minimize the balance in the reference month (month before the new promotion period) and transfer money in on the 1st of the month of the promotion period, to maximize the amount of "fresh funds".

2) Search for BOC mobile banking in google playstore. It has the BOC logo. It is international version and you would need to select Singapore after installation. Need to setup the mobile banking username and password in the BOC internet banking (web version).

 

[amihe]

For the new policy, anything paid on AXS is not considered, or only the payment of other bank's credit card?

Oh is that true? This is part of the new change that e-AXS is no longer considered? Bumper.

BTW, I was at the branch earlier to change my token and overheard a customer wanted to close his BS account but as his acct is less than 6 months, girl said there is a charge of $30 or $50. The customer argued that he should not be penalised as it was BOC who changed it's terms and conditions.' I left after the girl went to get her superior so I don't know of the outcome. Anyone care to comment, legally does he have a point? I'm now contemplating if I should close my acct if e-AXS is not allowed now. Which bank still allow sp bill paying by e-axs masterpass? My sp bill is like over $300 monthly which helps towards my otherwise little spending elsewhere.

 

[lewissac]

For me, I just hold the BS account till 6 then period over and then close.

I already asked for cancellation of my Family Card. Just pending for FlashPay ATU cancellation (that could take 2 weeks). Once the cancellation complete, I'll just cancel it.

 

[fortunecat]

Oh is that true? This is part of the new change that e-AXS is no longer considered? Bumper.

BTW, I was at the branch earlier to change my token and overheard a customer wanted to close his BS account but as his acct is less than 6 months, girl said there is a charge of $30 or $50. The customer argued that he should not be penalised as it was BOC who changed it's terms and conditions.' I left after the girl went to get her superior so I don't know of the outcome. Anyone care to comment, legally does he have a point? I'm now contemplating if I should close my acct if e-AXS is not allowed now. Which bank still allow sp bill paying by e-axs masterpass? My sp bill is like over $300 monthly which helps towards my otherwise little spending elsewhere.

Ya damn sian. Worse is prudential insurance premium dun allow to use BOC credit card to pay, Everyone trying to make things difficult, wonder if BOC is trying to drive away customers with its reviewed policy.

Sent from G4 again using GAGT

 

[lewissac]

Ya damn sian. Worse is prudential insurance premium dun allow to use BOC credit card to pay, Everyone trying to make things difficult, wonder if BOC is trying to drive away customers with its reviewed policy.

Sent from G4 again using GAGT

And to make matters worse for me, they don't have credit card payment facility for Citibank... End up I have to e-AXS.... sian X2.

 

[Trazora]

And to make matters worse for me, they don't have credit card payment facility for Citibank... End up I have to e-AXS.... sian X2.

Most banks using AXS for the bill payment service also cannot pay citibank.

 

[amihe]

Their bank website have not updated their new T&C for BS. (if you click on their 3.55%, they take you to the old page still stating $500 card spend etc)

Not sure is it purposely(lure customer in) or poor system that they overlooked to update their web when information changed. Delay is no excuse, it has been 3 weeks.

Only after browsing about a bit, found the new t&c in 'notices'.

http://www.bankofchina.com/sg/bocinfo/bi1/201610/t20161031_7949946.html

"1AXS Payment transactions are not eligible for Card Spend Bonus."
But no footnote on '1' can be found anywhere on the page.
In the past, AXS transactions are also not eligible, however website AXS is eligible. Can anyone confirm the new conditions also rules out e-axs? Trazora, what do you think? I'll take the opportunity to thank you for the generous amount of info you shared across many threads when I was contemplating which bank to go with.

 

[amihe]

I might hang on with BOC for awhile, noticed that amounts above 60k to 1m earns 1%. Not much, but still better than my dbs savings. I now have boc(2 mths old), SC(less than 1 mth). Until I can spend another $500, I'll open with UOB next.

 

[Trazora]

I might hang on with BOC for awhile, noticed that amounts above 60k to 1m earns 1%. Not much, but still better than my dbs savings. I now have boc(2 mths old), SC(less than 1 mth). Until I can spend another $500, I'll open with UOB next.

Can consider maybank saveup.

 

[amihe]

Can consider maybank saveup.

Gosh, how did I missed this one?!!
Seems like I can qualify for all 3 and achieve 2.75% + base.

With BOC, I could only get 1.95% + base.
A few pages back, I saw some forummers lamenting that they only get to enjoy the 3.55% for 1 or 2 mths before the revision.
Guys quickly jump on this one!

Brother Trazora, please PM me what info you need from me to 'refer a friend'.
http://info.maybank2u.com.sg/personal/cards/special-promos/member-get-member-reward.aspx

I was thinking of sending you a Starbucks gift voucher for all the info I benefited from you but am also concern if you would be wary to send me an email address so I could send the voucher to you. Now this is a better way to say 'Thank You'.

 

[BBCWatcher]

Bank of China's GIRO Charges?

According to this fee schedule there are a variety of GIRO-related charges. Is this really saying that BOC collects $20 per salary deposit (for example)?

 

[jjjccc]

Does the family cc atu auto top up count under the $500 minimum spending for cc abd for the bonus?

 

[Trazora]

Does the family cc atu auto top up count under the $500 minimum spending for cc abd for the bonus?

You mean nfc ATU? It should count.