Singlife Account

[vddgnd]

Within a few mins, transfer in is faster than transfer out from my experience.

Thanks. The transfer is from my own bank acc. internet banking, then pay to DBS bank with the 14 digit account number displayed in the "Fund your account" ?

Edit: Yes. Very fast show in app.

 

[Disaresta]

Just checked the app, it shows $0.67 earned this month.

 

[testingabc]

Just checked the app, it shows $0.67 earned this month.

korkor can daily withdraw interest?

 

[DenOOO]

Just checked the app, it shows $0.67 earned this month.

Same.

If the interest remains at the current rate.

It's a solid 2.44%

 

[DenOOO]

korkor can daily withdraw interest?

Daily interest is accumulated and to be credited on the first day of following month.

 

[tjrsasea]

the visa debit card dont have any fees whatsoever right? if that is what i read from their website.

 

[oceanicmanta]

i started with $500 yesterday
today it shows $0.03 interest earned
that works out to be 2.19%pa
lower EIR probably due to rounding
will try higher amount today

 

[macchiato-addict]

This account is actually an insurance. Anywhere stated the premium?

This is a universal life policy, checked with singlife through whatsapp that there is no premium.

 

[vddgnd]

This is a universal life policy, checked with singlife through whatsapp that there is no premium.

Thanks. I think it is same like single premium saving insurance.

 

[vegavega25]

What an interesting product this is.

An interest bearing SDIC-protected deposit with no date of maturity i.e. fully withdrawable at any time, and that comes with a nominal insurance cover.

Would be called a savings account with a small frill under most definitions.

If this is just starting out, the payout of an interest rate of 2.5% on the first S$200 million (S$10K X 20000 accounts; therefore likely less) may last a while yet.

 

[mosmos]

bunch of jokers at singlife whatsapp

told them that after registration and login into the app, the DBS account for fund transfer column is empty, even with the screenshot sent, no account to transfer funds into my account.

then they told me to register, get otp and fill in profile.

then again ask me to change the profile details, i wondering how to change since all personal details are correcnt and no options to edit.

then later told me to send those screenshots to their email instead

 

[BBCWatcher]

bunch of jokers at singlife whatsapp

I checked this offer out of curiosity. I'm sad to report that Singlife suffers from the rare but still too common ailment afflicting certain amateur financial firms, the terrible disease known as "Americanitis." They do not accept honest, taxpaying, law abiding U.S. persons as customers -- the ones who fill out Singlife's application form's checkboxes correctly and truthfully.

Not cool, Singlife.

 

[Linguist]

bunch of jokers at singlife whatsapp

told them that after registration and login into the app, the DBS account for fund transfer column is empty, even with the screenshot sent, no account to transfer funds into my account.

then they told me to register, get otp and fill in profile.

then again ask me to change the profile details, i wondering how to change since all personal details are correcnt and no options to edit.

then later told me to send those screenshots to their email instead

Registered before noon. Everything was quite smooth except the funds transfer waited 15 mins (exactly at 12.00pm) then displayed on the app.

I am using Android btw.

Did whatsapp them some queries. Overall am satisfied with the response they gave.

 

[peppermint7]

Any penalty for emptying everything out?
Can close acc anytime after empty out?

 

[DenOOO]

Any penalty for emptying everything out?
Can close acc anytime after empty out?

Looks to be none.

There is a in-app function to terminate account though.

 

[Hwsemb]

Just checked the app, it shows $0.67 earned this month.

Based on the benefit illustration, only when we leave the monthly interest credited intact, then we will get 2.5% p.a. If we withdraw the monthly interests, the total interest for the year will be 2.4x % or so (due to compounding effects).

But that is ok if we withdraw the interests and put into some other high yielding banking accounts.

 

[a4973]

Hi thread members, I have just dl the app and did the account opening using MyInfo. The sequence of my full name from MyInfo is correct as per my NRIC however in the next page of the app sign up I am asked to confirm my name by dragging the name in a specific sequence. So following the Given Name and Family name sequence eventually the account is open under Ah Seng David Tan which is wrong, the correct sequence should be Tan Ah Seng David. I believe this will cause issue with subsequent bank related activities with the singlife app. Anyone has faced this problem? Thanks

 

[Hwsemb]

Hi thread members, I have just dl the app and did the account opening using MyInfo. The sequence of my full name from MyInfo is correct as per my NRIC however in the next page of the app sign up I am asked to confirm my name by dragging the name in a specific sequence. So following the Given Name and Family name sequence eventually the account is open under Ah Seng David Tan which is wrong, the correct sequence should be Tan Ah Seng David. I believe this will cause issue with subsequent bank related activities with the singlife app. Anyone has faced this problem? Thanks

Yes, faced same issue. But since Singlife wants it to be GIVEN NAME, then FAMILY NAME, so it has to be that format.

No issue with transfering funds in and withdrawing out. When we create our bank account (eg: POSB) linkage, we need to tick a checkbox that declares the bank account we provided belong to us.

I think another potential problem is that MyInfo will not supply hanyu pinyin names. So when it comes to making insurance death/TPD claims, may face some problem. But then, NRIC number should be sufficient to overcome the naming issue.

 

[a4973]

Yes, faced same issue. But since Singlife wants it to be GIVEN NAME, then FAMILY NAME, so it has to be that format.

No issue with transfering funds in and withdrawing out. When we create our bank account (eg: POSB) linkage, we need to tick a checkbox that declares the bank account we provided belong to us.

I think another potential problem is that MyInfo will not supply hanyu pinyin names. So when it comes to making insurance death/TPD claims, may face some problem. But then, NRIC number should be sufficient to overcome the naming issue.

Hi Hwsemb, thanks for the affirmation & assurance. I'll just go ahead to complete the application and take it from there.

 

[DenOOO]

Hi thread members, I have just dl the app and did the account opening using MyInfo. The sequence of my full name from MyInfo is correct as per my NRIC however in the next page of the app sign up I am asked to confirm my name by dragging the name in a specific sequence. So following the Given Name and Family name sequence eventually the account is open under Ah Seng David Tan which is wrong, the correct sequence should be Tan Ah Seng David. I believe this will cause issue with subsequent bank related activities with the singlife app. Anyone has faced this problem? Thanks

I cant even enter my entire name cos not enough spacing

Just have to make do with some being ommited.