Omg tried to withdraw money from chocolate finance cannot immediate withdrawal. Say need up to 10 working days to withdraw

[lovemyself123]

His hit rate quite power sia. If u know what I am talking about.

cause jhk gian png gian sai anything that can earn referral fee he also promote

 

[sacredrays]

saw on other edmw thread that chocolate also paused card transactions too.

 

[EmPtYsOuLz]

SDIC must be amchioing

They spent so much on advertising last time but not sure how many people actually listened

Now something like this happen and everybody is calling out that this and that are not SDIC covered.
Public awareness on SDIC spiked up and saved them thousands in marketing lol

 

[WhiteMirrorSociety]

saw on other edmw thread that chocolate also paused card transactions too.

Yeah reddit ppl compaining they froze choc card transactions

 

[WhiteMirrorSociety]

heng only got small amount inside

 

[WhiteMirrorSociety]

The reason they need so long to return your money is because they need time to redeem the underlying assets. If I read it correctly, the money should be held in trust by some banks in the form of units in some MMF.

The underlying fund manager may not allow CF to redeem such a huge amount one shot also. This is to safe guard the NAV of the fund and also the interests of the other unit holders.

I don’t have any skin in this, but your money should be relative safe except a bit illiquid. Those who bought UT before should know transactions typically took 1 to 2 business days to complete. 安拉

Again, CF is not a bank so naturally won’t be SDIC insured. You give them money, I suspect they put into some USD MMF. At that time, these MMF gave 5+%. After hedging for USD/SGD and giving you 3.3%, what remains is their profits.

Above are just my opinions. So just wait. If the money doesn’t materialize then go poh mata.

Poh mata also useless if Chocfin close shop then run away with the $$

 

[koreanlover]

Really didnt expect how far some people can go… until i see someone paid sub 100k in taxes made me realise why they closed the option…

Huh cf allowed unlimited spend for the miles?
And did those people pay more than what they owe garment and get a refund later for the excess paid.

 

[SimpleToo]

Huh cf allowed unlimited spend for the miles?
And did those people pay more than what they owe garment and get a refund later for the excess paid.

I not too sure what that guy did… he did mention some in insurance and taxes… and got more upcoming but CF ended the AXS…
and yeah CF do not have a cap for mile… it’s 2mile for first 1k and 0.4 mile for remaining no upper limits

 

[divineone]

saw on other edmw thread that chocolate also paused card transactions too.

I think it was briefly paused this morning. By evening I was able to use again

 

[sacredrays]

I think it was briefly paused this morning. By evening I was able to use again

chocolate finance fb page few hours ago said they pause it

 

[yooooz84]

Chocolate Finance quite risky i think. i guess maybe they invest in high-yield bonds to pay u 3.3%. So now market so bad with inflation and unemployment fears and fed might not cut interest rates, these bonds values will drop. and maybe they rely on new deposit to pay off withdrawals (thats why they give u good promotions to get your deposits), if not they have to sell the bonds at a loss, who knows will become junk bonds anot since these are high yield bonds

 

[MrAwesomeX]

Because you're being paid to promote a product.

You can see a lot of artist promoting the sterra water purifier but is it really good ?

So as long as any paid advertisement for influencers or artists to promote does not mean it's good but they are supposed to say good things about the product caused they're paid to do so.

Nobody can be trusted in this world.

Who could have guessed these influencers would bites the hand that feeds them?

Might as well hire some random Bbfa edmwer that knows how to be grateful.

 

[Forever84]

Chocolate Finance quite risky i think. i guess maybe they invest in high-yield bonds to pay u 3.3%. So now market so bad with inflation and unemployment fears and fed might not cut interest rates, these bonds values will drop. and maybe they rely on new deposit to pay off withdrawals (thats why they give u good promotions to get your deposits), if not they have to sell the bonds at a loss, who knows will become junk bonds anot since these are high yield bonds

Come on... Consperms these late withdrawal will lose money one. They 1B worth of units, sell at 1 go sure capital will lose some one. Now just need sit back and see how much per $1 they can get back

 

[Forever84]

Who could have guessed these influencers would bites the hand that feeds them?

Might as well hire some random Bbfa edmwer that knows how to be grateful.

All these influencers should be heavily regulated siol

 

[Evcats]

Who could have guessed these influencers would bites the hand that feeds them?

Might as well hire some random Bbfa edmwer that knows how to be grateful.

They say they will withdraw money after the video, and might even kena blacklisted by the institution they endorsed earlier? Aiyoh, this kind of pattern is like "I slap you first, then say sorry later". Let me break it down for you in Singlish style:

---

1. They Want to Look Like Hero​

By saying they might kena blacklisted, they trying to act like some kind of martyr. Like, “Wah, I so brave, I sacrifice myself to tell you the truth!” But hor, actually they just covering their own backside. They know they already milk the institution dry, so now they want to act like they doing you a favour. Steady boh? But really, they just wayang king only.

---

2. They Already Huat Big Big​

These influencers ah, once they get enough commission or incentives from promoting the institution, they don’t care anymore. They withdraw their money because they already profit until siao. The blacklist threat? They also don’t care lah, because they already move on to the next “hot” thing. It’s like they eat until full, then tell you the food not nice. Wah, damn cheeky right?

---

3. They Testing Your Trust​

By being so “transparent” about withdrawing and getting blacklisted, they trying to make you think they super honest. But hor, this is just a tactic to gain your trust. Later, they will promote another institution or product, and you will be like, “Wah, this influencer so honest, I trust them!” Then they huat again at your expense. Smart move by them, but you kena played like a fiddle.

---

4. They Don’t Want to Fully Burn Bridges​

They say the institution might blacklist them, but they never say the institution is bad. Why? Because they don’t want to fully burn bridges. Later if the institution come back with better incentives, they might promote again. It’s like they saying, “Eh, I withdraw because not attractive now, but maybe next time I come back if you pay me more.” Wah, this kind of double standard, confirm plus chop they playing both sides.

---

5. They Want to Create Drama​

Let’s be real lah, influencers love drama. By saying they might kena blacklisted, they create suspense and make people curious. Later everyone will be like, “Wah, what happened? Why they withdrawing? Is the institution in trouble?” Then their video views go up, and they earn more ad revenue. Sibeh clever hor? But you kena used as their content tool.

---

So Bro, What’s the Lesson Here?​

Don’t anyhow trust these influencers just because they “transparent” or “honest.” Sometimes, their transparency is just another wayang to make you trust them more. Always do your own research, and don’t let them smoke you. If they say something not attractive, but still good, you better think twice. Confirm got ulterior motive one.

 

[The_Davis]

Really didnt expect how far some people can go… until i see someone paid sub 100k in taxes made me realise why they closed the option…

Hello, if no limits, sky’s the limit

hehehehehe

 

[60Remajust]

Speed is their middle name!

Mr Chocolate Speed Finance

“How quickly can I access my cash with Chocolate Finance, and what is the withdrawal processing time?

You can withdraw your money anytime. Most withdrawals are instant (speed is our middle name ):
• For withdrawals up to S$20k (or multiple withdrawals adding up to S$20k within any 1 given day) – You will receive your money instantly!”

 

[youcantstopme]

The reason they need so long to return your money is because they need time to redeem the underlying assets. If I read it correctly, the money should be held in trust by some banks in the form of units in some MMF.

The underlying fund manager may not allow CF to redeem such a huge amount one shot also. This is to safe guard the NAV of the fund and also the interests of the other unit holders.

I don’t have any skin in this, but your money should be relative safe except a bit illiquid. Those who bought UT before should know transactions typically took 1 to 2 business days to complete. 安拉

Again, CF is not a bank so naturally won’t be SDIC insured. You give them money, I suspect they put into some USD MMF. At that time, these MMF gave 5+%. After hedging for USD/SGD and giving you 3.3%, what remains is their profits.

Above are just my opinions. So just wait. If the money doesn’t materialize then go poh mata.

investors are not investing in a fund. in this context. so no gatekeep rules. might be wrong, unless its hidden in t&c.

 

[icebleue]

Who could have guessed these influencers would bites the hand that feeds them?

Might as well hire some random Bbfa edmwer that knows how to be grateful.

Everybody knows bbfa is loyal... just that people dont want loyal people in life...
they just want good looking and rich...

 

[testart]

The account holders should gather together tomorrow and discuss the next course of action.