GXS Digital Bank

[GenerationX]

I will also add Maybank iSavvy too

previous promo i all in. no more incremental to put in to get tat interest rate... waiting for after april hope got new plan.. already strpe to min bal liao

 

[sglandscape]

HSBC EGA need monthly deposit $2k n 5 transaction monhlythen get tat rate right?if just deposit money nia is how many %? SCB Esaver -need 2million? i dont have

HSBC EGA you can merry go round each month, move funds out then back in and it'll be met.

For SCB, not sure what you're referring to for 2m?

 

[royalmix]

How to offset Geneco bill may i know? Which vouchers did u redeem to offset that?

Every month when grab offers vouchers on discount, usually the first item is grabpay online voucher, I redeemed 2k pts for $5, min spend $25 to redeem. Go geneco website, login to your account to pay bill, choose grabpay, it will auto fill the $5 voucher, then ask you to choose how much pts you want to offset or pay with wallet. I always pay with points so my electricity usage is usually free!. Now no more free 20k points to earn every month

 

[peppermint7]

Every month when grab offers vouchers on discount, usually the first item is grabpay online voucher, I redeemed 2k pts for $5, min spend $25 to redeem. Go geneco website, login to your account to pay bill, choose grabpay, it will auto fill the $5 voucher, then ask you to choose how much pts you want to offset or pay with wallet. I always pay with points so my electricity usage is usually free!. Now no more free 20k points to earn every month

Thanks for sharing! I will go try

 

[GenerationX]

HSBC EGA you can merry go round each month, move funds out then back in and it'll be met.

For SCB, not sure what you're referring to for 2m?

o ok. but no need incremental monthly balance? if i in out isnt it no have increase of 2k?

https://www.sc.com/sg/save/savings-accounts/esaver/From now till 31 March 2023, earn up to 3.80% p.a. interest on eligible deposit balance of S$2 million with no lock-in period when you bring in incremental fresh funds* (compared to January 2023 average daily balance)

My understanding in this sentence mean need to have 2mill. or maybe my ang moh fail it does not mean that. I think i saw someone talk about this.

But i think we are deviating from the title of this thread liao. this suppose to be about GXS

 

[royalmix]

Yes, pls migrate back to the HSBC thread, EGA is all over the forum, I hope HSBC will get in trouble buying the bankrupt bank

 

[sglandscape]

Yes, pls migrate back to the HSBC thread, EGA is all over the forum, I hope HSBC will get in trouble buying the bankrupt bank

Nope they won't and they got a good deal, and a new customer base. Liquidity issue, especially when HSBC is so big for such a small purchases is unlikely to be the trigger for HSBC failure.

 

[Goodintentions]

Anyone thinks that GSX will increase the cap of 5K from April onwards to earn 3.58% for their saving pocket? 5K is just too ridiculously low for any digital bank and a waste of its digital banking license which costs money to get.

 

[chiokcc]

Any new promo coming for GXS?

 

[wira]

i just remember to use grab w GXS on 31 march to get the 4088 rewards. hopefully still qualifies as its on last day of march

 

[sglandscape]

Anyone thinks that GSX will increase the cap of 5K from April onwards to earn 3.58% for their saving pocket? 5K is just too ridiculously low for any digital bank and a waste of its digital banking license which costs money to get.

perhaps it is meant to replace the grab wallet? given all the nerfs for use case with the grab wallet/GPMC, wonder if these features would be ported to the gxs account paired with a card

 

[Goodintentions]

perhaps it is meant to replace the grab wallet? given all the nerfs for use case with the grab wallet/GPMC, wonder if these features would be ported to the gxs account paired with a card

Maybe but if GXS just wants to be another Revolut or Youtrip wallet app for its Grab services, why even bother to waste money, fulfil regulatory requirement and effort to apply for a full digital bank license, which Revolut has given up on, though they tried.

 

[jtsh55]

Anyone thinks that GSX will increase the cap of 5K from April onwards to earn 3.58% for their saving pocket? 5K is just too ridiculously low for any digital bank and a waste of its digital banking license which costs money to get.

My GXS app show 3.48%, how did you get 3.58%?

 

[Asphodeli]

o ok. but no need incremental monthly balance? if i in out isnt it no have increase of 2k?

https://www.sc.com/sg/save/savings-accounts/esaver/From now till 31 March 2023, earn up to 3.80% p.a. interest on eligible deposit balance of S$2 million with no lock-in period when you bring in incremental fresh funds* (compared to January 2023 average daily balance)

My understanding in this sentence mean need to have 2mill. or maybe my ang moh fail it does not mean that. I think i saw someone talk about this.

But i think we are deviating from the title of this thread liao. this suppose to be about GXS

Think it means maximum amount SCB will use to calculate is capped at $2mil cash la...otherwise why their T&C example will use 150k, 300k?

But back to on-topic, GXS really wtf with the 5k limit...a more reasonable amount would be 10k.

 

[sglandscape]

Think it means maximum amount SCB will use to calculate is capped at $2mil cash la...otherwise why their T&C example will use 150k, 300k?

But back to on-topic, GXS really wtf with the 5k limit...a more reasonable amount would be 10k.

a more reasonable limit would be to have no limit haha, but regulatory constraints.

Maybe but if GXS just wants to be another Revolut or Youtrip wallet app for its Grab services, why even bother to waste money, fulfil regulatory requirement and effort to apply for a full digital bank license, which Revolut has given up on, though they tried.

they would likely also launch loan/lending/bnpl products alongside their other wallet offerings which revolut and other wallet vendors cannot do in large scale.

 

[Jirachi]

Yes, pls migrate back to the HSBC thread, EGA is all over the forum, I hope HSBC will get in trouble buying the bankrupt bank

SVB arm in UK is not that big. Chill man.

 

[wira]

SVB arm in UK is not that big. Chill man.

they got SVB for only $1 right ?

 

[royalmix]

SVB arm in UK is not that big. Chill man.

think out of the box!

 

[Jirachi]

they got SVB for only $1 right ?

Ya

 

[WoShiPro]

Gxs has new product. Flexi loan.

Based on quick check eir around 6-7%. Interest rate is comparable to other bank CC cash advance.

Digital bank have lower cost shouldn't the loan interest rate be lower and offer higher int for savings acc. So far Trust bank and GXS disappointing leh.