Singlife Account

[ValerieLah]

Why u all dun call in or contact them instead of at here scare urself?

 

[rpgfreak]

Why u all dun call in or contact them instead of at here scare urself?

A lot of people have called in already, all get the same response that they are aware and rectifying the problem. Issue is that the lack of communication, no updates on social media, website, app of the on going issue makes many think of what could have actually happened.

I have been thinking what actually happened since last night 12am until now lol.

 

[IronMan123]

Can WhatsApp them at 6911 1111

Posted with iPhone HardwareZone Forums app

 

[dappermen]

wht exactly is happening??

Got withdrawal fee

But after today ... will keep more float in my real bank account ...

Previously, service from Singlife have been perfect ...

 

[a4973]

Just wondering is singlife subject to any penalties by the regulator for such situations?

Upping this. Any banking / insurance gurus care to comment on this? Just like if telco got major outage for xx hours I believe will be penalized by imda.

 

[s0tong]

We are all paranoid people all see got problem now go mass withdrawal. This problem started yesterday at 1115pm, many should be affected. Still waiting for my withdrawal to go through.

Your case seem unusual. Is your bank account dbs?

 

[wynnest]

I deposited fund from my DBS account this morning until now still not reflect and no notification yet.

 

[rpgfreak]

Your case seem unusual. Is your bank account dbs?

Yes bank account is DBS / POSB Savings

 

[battledome64]

Guys I think your expectation is too high. They are giving 2% interest and they are insurance company

They are new and probably have some teething problems. If there is too much pressure to allocate resources to have lightning speed withdrawals, you can be assured that their costs will increase and so your interest will decrease maybe to 1% or less in the near future

 

[a4973]

Since singlife know there is a problem they should have offline the app so people don't continue to withdraw / deposit adding to the problem.

 

[miwalix]

I’ve received my top up

 

[rpgfreak]

Guys I think your expectation is too high. They are giving 2% interest and they are insurance company

They are new and probably have some teething problems. If there is too much pressure to allocate resources to have lightning speed withdrawals, you can be assured that their costs will increase and so your interest will decrease maybe to 1% or less in the near future

Because SingLife is not listed in SGX, they don't need to face any shareholders questioning of their doings, interest decrease is a soon thing because of many new sign ups taping onto this 2% interest.

As from my previous post, take for example, crypto.com (CRO) VISA Card, upon reaching so many subscribers, they slashed their interest rates with no proper communication and mobile application is unstable. This event happened just 2 weeks ago and their CRO token dropped 35% in value. See their CRO token dropping like rain drops, they have no choice but to reinstate higher interest rates to stop people from mass withdrawing / selling off.

You see if SingLife is operated by shares or crypto token, this incident will definitely cause their share / crypto token price to drop. People want updates and proper communication.

I'm still awake for 27 hours and waiting for my withdrawal to be in my bank since 1130pm last night.

 

[reddevil0728]

Because SingLife is not listed in SGX, they don't need to face any shareholders questioning of their doings, interest decrease is a soon thing because of many new sign ups taping onto this 2% interest.

As from my previous post, take for example, crypto.com (CRO) VISA Card, upon reaching so many subscribers, they slashed their interest rates with no proper communication and mobile application is unstable. This event happened just 2 weeks ago and their CRO token dropped 35% in value. See their CRO token dropping like rain drops, they have no choice but to reinstate higher interest rates to stop people from mass withdrawing / selling off.

You see if SingLife is operated by shares or crypto token, this incident will definitely cause their share / crypto token price to drop. People want updates and proper communication.

I'm still awake for 27 hours and waiting for my withdrawal to be in my bank since 1130pm last night.

Actually hor maybe u go sleep now wake up money in.

 

[Cookie Muncher]

Because SingLife is not listed in SGX, they don't need to face any shareholders questioning of their doings, interest decrease is a soon thing because of many new sign ups taping onto this 2% interest.

As from my previous post, take for example, crypto.com (CRO) VISA Card, upon reaching so many subscribers, they slashed their interest rates with no proper communication and mobile application is unstable. This event happened just 2 weeks ago and their CRO token dropped 35% in value. See their CRO token dropping like rain drops, they have no choice but to reinstate higher interest rates to stop people from mass withdrawing / selling off.

You see if SingLife is operated by shares or crypto token, this incident will definitely cause their share / crypto token price to drop. People want updates and proper communication.

I'm still awake for 27 hours and waiting for my withdrawal to be in my bank since 1130pm last night.

Lol. Not listed doesn't mean no governance. U might want to consider keeping your money at home so u can sleep

 

[IamLucy]

Omg ... don’t worry so much.

Just turn on your Singlife notification.. when ur funds are in ... it will prompt you then u go check .

Mine is already in

Same, actually if using bank accounts like UOB One Account with Credit Card, I think should actually max out the $75k first before going into SingLife alternatives. I have been awake for 27 hours straight already haha couldn't sleep when the monies are stuck and no progressive updates on websites and channels.

 

[IamLucy]

Oh some delay in funds transfer

wht exactly is happening??

 

[rpgfreak]

Lol. Not listed doesn't mean no governance. U might want to consider keeping your money at home so u can sleep

Yeah once the money is in, I better keep under my bed and sleep with it. Look at how many times they screw up and get away with no penalties?

Again another factor is communication
go to https://singlife.com/announcements/maintenance-announcements/

Since yesterday night nothing was posted there, now they post that tomorrow 29 Oct 2020 they are going to do maintenance from 0900 - 0930 hours. Where is the message that everyone has been receiving when they reach out to support? "Our sincere apologies for the inconvenience cause. We are aware of this issue and our tech team are currently working on it."

Imagine a major bank in Singapore have its online banking systems, ATM's all down for more than 12 hours, what would you think will happen? The banks have to be accountable.

If it's a mere $1000 for withdrawal, that is ok, everyone can just chill out, spam support and repeatedly ask why, how and when. Seeing from posts over here, many have more than the $10k benchmark for 2% P.A in SingLife, by with-holding the funds, what if there are other opportunities that appear during the downtime and your funds just stay there stuck.

I have invested in many crypto platforms, staking their crypto token and USDT for higher returns, I do not even care if one day the crypto platforms run away with their useless cryptos and USDT as these high returns comes great risks. Investing in crypto, treat it as if money will not be back anymore, if there is then its a bonus.

If crypto platforms can manage well enough without the need of MAS regulation then why SingLife could not? Basic communication if systems are having problems are 100% required. Also no status page is available for SingLife makes quite a lot of people think of its legitimacy.

After this, if I am to come back to SingLife (Very Unlikely), I would just throw $1000 just like Cyrpto investments.

 

[s0tong]

Anyone wanna share success stories of getting their money out to verify ^ post is isolated incident?

 

[reddevil0728]

Lol. Not listed doesn't mean no governance. U might want to consider keeping your money at home so u can sleep

Temasek and GIC and CAG and PSAI also all note listed. But I think their Corp gov should be ok?

 

[reddevil0728]

Yeah once the money is in, I better keep under my bed and sleep with it. Look at how many times they screw up and get away with no penalties?

Again another factor is communication
go to https://singlife.com/announcements/maintenance-announcements/

Since yesterday night nothing was posted there, now they post that tomorrow 29 Oct 2020 they are going to do maintenance from 0900 - 0930 hours. Where is the message that everyone has been receiving when they reach out to support? "Our sincere apologies for the inconvenience cause. We are aware of this issue and our tech team are currently working on it."

Imagine a major bank in Singapore have its online banking systems, ATM's all down for more than 12 hours, what would you think will happen? The banks have to be accountable.

If it's a mere $1000 for withdrawal, that is ok, everyone can just chill out, spam support and repeatedly ask why, how and when. Seeing from posts over here, many have more than the $10k benchmark for 2% P.A in SingLife, by with-holding the funds, what if there are other opportunities that appear during the downtime and your funds just stay there stuck.

I have invested in many crypto platforms, staking their crypto token and USDT for higher returns, I do not even care if one day the crypto platforms run away with their useless cryptos and USDT as these high returns comes great risks. Investing in crypto, treat it as if money will not be back anymore, if there is then its a bonus.

If crypto platforms can manage well enough without the need of MAS regulation then why SingLife could not? Basic communication if systems are having problems are 100% required. Also no status page is available for SingLife makes quite a lot of people think of its legitimacy.

After this, if I am to come back to SingLife (Very Unlikely), I would just throw $1000 just like Cyrpto investments.

Can always report to MAS lor.