BOC SmartSaver

[iduncheckmail]

Not all txn can use SMS. That time I terminate ICBC FD need txfr to DBS for that 4.88% ICBC show me a long number ask me enter into the token press Ok and use the displayed number enter into app!

ICBC is a big bank in the world and I think their security not bad but make it so troublesome.

ICBC is big only becoz of their 1.3bn addressable market;
I wouldn’t put too much faith in china banks. Even boc.
china banks change policy and their rules unilaterally . (Aka as and when they like) .

 

[sohguanh]

ICBC is big only becoz of their 1.3bn addressable market;
I wouldn’t put too much faith in china banks. Even boc.
china banks change policy and their rules unilaterally . (Aka as and when they like) .

Everyone is entitled to their own opinion. You don't put faith in China banks can don't be their customer. I into all foreign banks as long as within 75k and low minimum investment. Be it China, Msia etc banks all can as long as can catch mouse is good cat.

 

[vsvs24]

ICBC is big only becoz of their 1.3bn addressable market;
I wouldn’t put too much faith in china banks. Even boc.
china banks change policy and their rules unilaterally . (Aka as and when they like) .

Have been with BOC for a long time and occasionally place FD with ICBC previously. No issues with them.

In fact I like china banks more than local banks. Service is good.

 

[zumaba]

ICBC is big only becoz of their 1.3bn addressable market;
I wouldn’t put too much faith in china banks. Even boc.
china banks change policy and their rules unilaterally . (Aka as and when they like) .

Which bank on the earth is not to change its rules unilaterally? and get your like first? lol
So funny.

 

[vsvs24]

Just to add, china banks security is better because they still allow physical tokens. Other banks want to save cost so force us into digital token or alerts by email instead of by SMS.

A lot of the recent scams could be prevented if it had not been on digital token. Add payee, transfer out, no second level authentication.

 

[sohguanh]

Just to add, china banks security is better because they still allow physical tokens. Other banks want to save cost so force us into digital token or alerts by email instead of by SMS.

A lot of the recent scams could be prevented if it had not been on digital token. Add payee, transfer out, no second level authentication.

Just to inform sometimes not all readers go by logical reasoning. In this case it could be the reader just don't like a particular country for their own reasons. Hence they don't like to do business with them. It has nothing to do with security etc. Therefore I think we need to respect each individual choice as those are their own monies not ours.

What you have mention about their continued usage of physical tokens I agree but this is added cost to them as banks. Imagine the number of customers they have and physical tokens they issue not to mention about replacement as spoilt or battery run flat. It is quite costly recurring expense but I guess they can absorb the cost.

 

[vsvs24]

What you have mention about their continued usage of physical tokens I agree but this is added cost to them as banks. Imagine the number of customers they have and physical tokens they issue not to mention about replacement as spoilt or battery run flat. It is quite costly recurring expense but I guess they can absorb the cost.

That's why I like china banks. They put security over costs. Maybe because they are china state banks so no need to please shareholders.

 

[sohguanh]

That's why I like china banks. They put security over costs. Maybe because they are china state banks so no need to please shareholders.

To put it more crudely they got more monies than other banks lar. Monies important lor.

 

[klavier]

HI, for those who use BOC, I believe it is possible to open an account online (without visiting the branch). However, is it possible to open a fix deposit account, deposit and withdraw the money without needing to go to the branch or having the physical token?

Would like to know as I am overseas right now..

 

[ThreeSteps]

HI, for those who use BOC, I believe it is possible to open an account online (without visiting the branch). However, is it possible to open a fix deposit account, deposit and withdraw the money without needing to go to the branch or having the physical token?

Would like to know as I am overseas right now..

I open my BOC SmartSaver a/c at a branch some years ago. But, below are my suggestions for you:

Go to this link and look : https://www.bankofchina.com/sg/pbservice/pb1/202212/t20221230_22348761.html
there is a section ‘Application Mode’ with an official link for you to open accounts.

Alternatively, go to this link and look: https://www.bankofchina.com/sg/custserv/bocmbs/201610/t20161021_7899951.html
Then search & download/install the app ‘BOC Mobile Banking’ on your mobile phone. Somewhere within the app, you can find an option ‘Apply New Accounts’

Since you are overseas, I would suggest you first try (lower risk) to open the BOC SmartSaver a/c (minimum initial deposit S$200 & account service charge S$3 if monthly average balance falls below S$200) and get the necessary BOC login ID, register for mobile banking,etc & feel comfortable before attempting to place FD (large amounts). With a formal login using your BOC SmartSaver a/c, you will be able to see other options such as placement of FDs.

 

[vsvs24]

HI, for those who use BOC, I believe it is possible to open an account online (without visiting the branch). However, is it possible to open a fix deposit account, deposit and withdraw the money without needing to go to the branch or having the physical token?

Would like to know as I am overseas right now..

If you are looking for a bank account easy to manage overseas, I think it might be better for you to look at RHB. Everything can be done online via their mobile app and pretty fast. Their FD rates are ok.

Open the Higher Yield Savings account which has no fall below fee. Account creation is almost immediate. Then open a FD account which might take 1 day to approve.

After FD account is created, transfer funds to the savings account and place FD from the savings account.

Edit : As pointed by others, RHB FD is min 20k

 

[sohguanh]

If you are looking for a bank account easy to manage overseas, I think it might be better for you to look at RHB. Everything can be done online via their mobile app and pretty fast. Their FD rates are ok.

Open the Higher Yield Savings account which has no fall below fee. Account creation is almost immediate. Then open a FD account which might take 1 day to approve.

After FD account is created, transfer funds to the savings account and place FD from the savings account.

But RHB FD usually 20k whereas BOC is 5k. This is not issue maybe but for me is one factor. I like to deploy my funds in various investment instrument hence minimum placement is important.

 

[MastersIT]

HI, for those who use BOC, I believe it is possible to open an account online (without visiting the branch). However, is it possible to open a fix deposit account, deposit and withdraw the money without needing to go to the branch or having the physical token?

Would like to know as I am overseas right now..

Hi Klavier,

BOC account opening online link

Txn within own accounts in BOC no need digital token.

For BOC FD withdrawal, I withdrew to my BOC savings account via APP or online banking. If FAST out to another bank, need physical token if transfer value triggers txn signing authorisation.

Deposit money to BOC FD is via your BOC savings account without going to bank, BOC to BOC no need physical token.

 

[ThreeSteps]

BOC FD promo rates : 1-mth(3%) , 3-month(3.5%) ……....
Refer to BOC link: https://www.bankofchina.com/sg/bocinfo/bi3/bi31/202306/t20230626_23274982.html

The above rates have been replaced. Please refer to below BOC website link for latest promo rates:
https://www.bankofchina.com/sg/bocinfo/bi3/bi31/

 

[wira]

Hi Klavier,

BOC account opening online link

Txn within own accounts in BOC no need digital token.

For BOC FD withdrawal, I withdrew to my BOC savings account via APP or online banking. If FAST out to another bank, need physical token if transfer value triggers txn signing authorisation.

Deposit money to BOC FD is via your BOC savings account without going to bank, BOC to BOC no need physical token.

ooh BOC still need physical token ? how do you apply for the physical token ?
will they mail to you or we need go to branch ?

 

[bargin]

ooh BOC still need physical token ? how do you apply for the physical token ?
will they mail to you or we need go to branch ?

got mine physical token from the branch, dont know whether the bank will post mail the physical token to your home address

 

[royalmix]

ooh BOC still need physical token ? how do you apply for the physical token ?
will they mail to you or we need go to branch ?

I want things fast, so I usually go branch to open account, I went HQ, less than 1/2 half kaotim! I applied after 6 mths of closing previous account, luckily they give me! Come home open mobile banking account if I need, I dun need. Keep account to standby, now only need 200, last time need 1500 min balance, earn a little kopi money every mth!

 

[spikeling]

Anyone received this month bonus interest already? Usually 8th of the month will credit but receive nothing today yet..

 

[vsvs24]

Anyone also encounter from 1.20am this morning, receive card alerts SMS for card transactions made on 8 and 9 Aug ? This is a repeat as the alerts were received when transactions were made.

So scary. From 1.20am to 1.40am the SMS keep coming. But the transactions are what I really spent though.

 

[pumnky]

Anyone received this month bonus interest already? Usually 8th of the month will credit but receive nothing today yet..

Yes, received on the 10th