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

[Acetone]

are they experiencing bank run ?

Seems like it sia, how can take 10 days to withdraw ?

 

[Emperor_Hippo]

u think some of them they endorse for the fee or endorse because they know what the **** is going on ?

got email, got endorsement fee and a small stipend, just advertise loh.

take on so many ads for so many companies, u think all the simi-influencers have time to do actual product use, product analysis and review ah?

collect and whack first, talk later, damage control only if it comes, worst case scenario - cancel and disassociate.

but they put in effort liao, their effort must be paid. so money in pocket is my money.

 

[AndroidComa]

are they experiencing bank run ?

if they are not, they certainly are now
once the app updated to prevent you clicking the withdraw button, then i say gg liao

 

[Acetone]

if they are not, they certainly are now
once the app updated to prevent you clicking the withdraw button, then i say gg liao

MAS better come clean on giving them a license

 

[popdod]

Somemore no physical branch.
cannot ghost down and bang doors.

 

[ShinnAsuka]

Anyone got issues making card txns?

 

[AndroidComa]

Anyone got issues making card txns?

money matters forum got ppl's card kenna blocked from shoppee checkout

 

[Niccolo Machiavelli]

They shouldn't have allowed instant withdrawals in the first place lah.

Even platforms like Endowus take 3-5 business days to disperse your money if you redeem money invested into MMFs.

 

[3vild3vil]

Looks like cannot withdraw any money now le.

 

[Emperor_Hippo]

are they experiencing bank run ?

that one is bank meh? not investment company?

anyway, i saw their recent ad. for any lesser human being with no self control, see 3.3% returns or top up on your diff for $20k on $20k looks really damn bloody tempting.

but too bad, this chao boomer still like a proper, decent, normal brick and mortar bank. all these what digital bank nonsense like wise or what coming up with those "oh, u put $x in us, then we will go invest it in some bonds and then we will give u higher returns than normal bank account."

pui.

trust a company? rather trust MAS and ah gong. i buy my t-bills and bonds myself. thank u.

 

[wlalala]

gg... not sdic insured

 

[AndroidComa]

MAS better come clean on giving them a license

MAS better extend them loan at 2% and make them fulfil their promise of instant withdrawals

 

[wlalala]

Anyone got issues making card txns?

hearing a few cases of transactions getting declined...

 

[mynickname]

Wah this post from mm very alarming.

Oh man....I cannot even pay shopee using chocolate card...! Transaction declined even though I have money....

 

[Acetone]

They shouldn't have allowed instant withdrawals in the first place lah.

Even platforms like Endowus take 3-5 business days to disperse your money if you redeem money invested into MMFs.

Different leh, that one is invested into funds, which typically needs clearing… this one is a deposit account. By right, it should behave like one…

 

[mynickname]

Somemore no physical branch.
cannot ghost down and bang doors.

Got registered office

 

[Acetone]

Seems they really having cash flow issues, now that debit card also cannot use.

 

[Lemon_Tea]

gg liao.. they preparing to run road liao.. The funds not protected by SDIC..

 

[Equivocal2011]

Oh no...
Still have few k inside...
Hope they allow withdrawals soon...

 

[sPacEmAn_sPiFf]

that one is bank meh? not investment company?

anyway, i saw their recent ad. for any lesser human being with no self control, see 3.3% returns or top up on your diff for $20k on $20k looks really damn bloody tempting.

but too bad, this chao boomer still like a proper, decent, normal brick and mortar bank. all these what digital bank nonsense like wise or what coming up with those "oh, u put $x in us, then we will go invest it in some bonds and then we will give u higher returns than normal bank account."

pui.

trust a company? rather trust MAS and ah gong. i buy my t-bills and bonds myself. thank u.

Regulated by the MAS under a CMS license, but not covered under SDIC as it is not a bank:

"Chocolate Finance is not covered by the Singapore Deposit Insurance Corporation (SDIC) because we are not a bank. Banks have SDIC protection because if the bank fails, your money is at risk. Chocolate operates differently. Your funds with Chocolate Finance are held separately by trusted custodians, HSBC and State Street, under the management of our fund managers, and are ringfenced in the event that anything happens to Chocolate."