Singlife Account

reddevil0728

reddevil0728

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saintgtril said:
Hi all, anyone intends to move out from SingLife (1.5% for first $10K) to Dash EasyEarn (1.8% for the first $20k) or/and Gigantia (1.8% for the first $10k)? :s11:
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What others do not really important right? Is what you do?

And you need to note the difference between Dash/gigantiq vs Singlife. The latter is free withdrawal so can almost use it like a bank account.

And people might already have dash/gigantiq + singlife.

So is really about what you want.
 
revhappy

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tesarise said:
Compared to MBH and syfe cash+, I don't think liquidity risk is the thing you should call out for Singlife... Syfe cash+ would need a few days to liquidate the underlying funds when you withdraw. MBH will either need to find someone else selling or deal with market maker, and take T+2 to settle. Both take way longer than Singlife when you desperately need the money
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Let me try to rephrase. When I say liquidity risk, I not talking about the expected SLA. We know the expected SLA and plan for it. We know Syfe Cash+ has a cutoff time of 11AM. If you place order before 11AM, your fund will be sold at that day end NAV, and you will get your money back in 2 or 3 days. We dont expect anything to go wrong. Unit trusts have been around for sometime and there are regulations and processes in place.

In case of SingLife, we know it is an insurance company, but they are promising the liquidity of a bank account. i.e. you are kind of expecting that you will be able to withdraw your cash anytime. This is a very new concept and not a very tried and test one. Most people go to Singlife because of the SDIC coverage. So if you are using that as the basis, then we must accept that in the worst case scenario, if they are not able to pay us, because their investments have soured and there are too many people asking for their money back, then we depend on SDIC kicking in and that may take time for you to get your money back. So your money could be locked in for a long time.
 
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demoforce1

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revhappy said:
Let me try to rephrase. When I say liquidity risk, I not talking about the expected SLA. We know the expected SLA and plan for it. We know Syfe Cash+ has a cutoff time of 11AM. If you place order before 11AM, your fund will be sold at that day end NAV, and you will get your money back in 2 or 3 days. We dont expect anything to go wrong. Unit trusts have been around for sometime and there are regulations and processes in place.

In case of SingLife, we know it is an insurance company, but they are promising the liquidity of a bank account. i.e. you are kind of expecting that you will be able to withdraw your cash anytime. This is a very new concept and not a very tried and test one. Most people go to Singlife because of the SDIC coverage. So if you are using that as the basis, then we must accept that in the worst case scenario, if they are not able to pay us, because their investments have soured and there are too many people asking for their money back, then we depend on SDIC kicking in and that may take time for you to get your money back. So your money could be locked in for a long time.
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am I right that Syfe, Endowus, Stashaway are not protected under SDIC
 
revhappy

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demoforce1 said:
am I right that Syfe, Endowus, Stashaway are not protected under SDIC
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Correct, there is no protection. Although there is a fund manager, your money is directly invested in companies and you enjoy all the upside and the downside, the fund manager takes a cut.

In case if Singlife and other insurance, your upside is fixed, whatever Singlife promises you. Singlife can become very creative and try to take lot of risk while paying you only 1.5%. If they are successful, there is no problem in giving you that promised return. But if they are not successful and go bankrupt then, SDIC bails you out.
 
tesarise

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revhappy said:
Let me try to rephrase. When I say liquidity risk, I not talking about the expected SLA. We know the expected SLA and plan for it. We know Syfe Cash+ has a cutoff time of 11AM. If you place order before 11AM, your fund will be sold at that day end NAV, and you will get your money back in 2 or 3 days. We dont expect anything to go wrong. Unit trusts have been around for sometime and there are regulations and processes in place.

In case of SingLife, we know it is an insurance company, but they are promising the liquidity of a bank account. i.e. you are kind of expecting that you will be able to withdraw your cash anytime. This is a very new concept and not a very tried and test one. Most people go to Singlife because of the SDIC coverage. So if you are using that as the basis, then we must accept that in the worst case scenario, if they are not able to pay us, because their investments have soured and there are too many people asking for their money back, then we depend on SDIC kicking in and that may take time for you to get your money back. So your money could be locked in for a long time.
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Would just want to highlight that if we are talking about worst case scenarios, the funds under Syfe Cash+ may also suspend redemptions.

But I do agree that there is a difference in expectation between accounts like Singlife vs money management accounts. Although both might suspend redemptions, the expectation mismatch would be higher for Singlife.

Guess it is just a difference between our definition of liquidity risk then
 
silverbomb

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just providing dp. just did some small withdrawal at 4pm now still havent get. but not so urgent as i anticipated this issue.
 
silverbomb

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reddevil0728 said:
can always try with $1 first then see. if works then the rest
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yeap it's a known issue with SL so alr anticipated delay, alr encountered 14 hours delay b4. not life or death matter. so hence i park emergency cash in traditional banks.
 
ashethen

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I'm stuck in this infinite loop

ao6jall.jpg


Is there any other ways to get my money out besides the app?

Posted from PCWX using SM-N960F
 
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dappermen

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The rest who has wdrawn will tell u where is the something/somewhere similar (no perfect resemblance) of Singlife

I thk we have discussed before too
 
reddevil0728

reddevil0728

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dappermen said:
The rest who has wdrawn will tell u where is the something/somewhere similar (no perfect resemblance) of Singlife

I thk we have discussed before too
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Ya lor. So must withdraw for a reason. If not no point withdrawing
 
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