Singlife Account

oceanicmanta

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here's my experience with Grow :

Wed
- used referral to sign up
- have to wait around 10-15 mins for policy to be confirmed on email
- paid initial 1K premium at around 1pm
(terms say policy accepted before 12 noon wld have same day fund prices - dont know how true)
- both referee n referrer got $30 each within 5 mins of payment
- payment accepted but portfolio value not updated ie shows $0

Thurs
- portfolio value still not updated ie shows $0
- status says something like "processing fund request" "It takes 2 to 4 business days to process your fund order"

Fri
- 10am: Portfolio Value finally shows as 999.XX (small loss)
- topped up $100 thinking can withdraw (min 1k to withdraw), but Mistake !
- still unable to Withdraw (the Withdraw option is still greyed out - not sure is it bcos value is less than 1k or the fund purchase not yet completed)
- the Portfolio Status shows various stages of each fund, from "Placed", "Completed" "Authorised" but have no idea what each means
- it seems the initial 1K not finished processing yet !?

Sat/Sun
- value updated a couple of times, from 1100.XX (small gain, incl top up) to 1099.XX (small loss) BUT still unable to withdraw
- now my $100 top up has to wait 2-4 days to complete fund buying process ! :eek:

** for those thinking of signing up, be very patient n wait for the initial 1k premium to be completely allocated ... I think the status would show up as "Active" on the front page (rather than "In Progress")

** do it early morning, to cut 1 day of waiting time ?

** not sure if Portfolio Value is below 1K, whether the "Withdraw" button remains greyed out. If so, cannot be certain when actually the 1k is fully allocated & withdrawal is possible

** as the min withdraw value is 1k, I am not sure if the Top Up can be withdrawn on the same day without it having to be allocated first

** some blogged about withdrawal briefly, which give impression of straight forward process ...but devil is in the details

** given the above, I think only worthwhile to do this if can capture both $30 ... if cannot, then perhaps the above can set your expectations

... will update / revise next week when I am finally able to withdraw
 
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demoforce1

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here's my experience with Grow :

Wed
- used referral to sign up
- have to wait around 10-15 mins for policy to be confirmed on email
- paid initial 1K premium at around 1pm
(terms say policy accepted before 12 noon wld have same day fund prices - dont know how true)
- both referee n referrer got $30 each within 5 mins of payment
- payment accepted but portfolio value not updated ie shows $0

Thurs
- portfolio value still not updated ie shows $0
- status says something like "processing fund request" "It takes 2 to 4 business days to process your fund order"

Fri
- 10am: Portfolio Value finally shows as 999.XX (small loss)
- topped up $100 thinking can withdraw (min 1k to withdraw), but Mistake !
- still unable to Withdraw (the Withdraw option is still greyed out - not sure is it bcos value is less than 1k or the fund purchase not yet completed)
- the Portfolio Status shows various stages of each fund, from "Placed", "Completed" "Authorised" but have no idea what each means
- it seems the initial 1K not finished processing yet !?

Sat/Sun
- value updated a couple of times, from 1100.XX (small gain, incl top up) to 1099.XX (small loss) BUT still unable to withdraw
- now my $100 top up has to wait 2-4 days to complete fund buying process ! :eek:

** for those thinking of signing up, be very patient n wait for the initial 1k premium to be completely allocated ... I think the status would show up as "Active" on the front page (rather than "In Progress")

** do it early morning, to cut 1 day of waiting time ?

** not sure if Portfolio Value is below 1K, whether the "Withdraw" button remains greyed out. If so, cannot be certain when actually the 1k is fully allocated & withdrawal is possible

** as the min withdraw value is 1k, I am not sure if the Top Up can be withdrawn on the same day without it having to be allocated first

** some blogged about withdrawal briefly, which give impression of straight forward process ...but devil is in the details

** given the above, I think only worthwhile to do this if can capture both $30 ... if cannot, then perhaps the above can set your expectations

... will update / revise next week when I am finally able to withdraw
how do you topup $100?
 

silverbomb

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Fri
- 10am: Portfolio Value finally shows as 999.XX (small loss)
- topped up $100 thinking can withdraw (min 1k to withdraw), but Mistake !
- still unable to Withdraw (the Withdraw option is still greyed out - not sure is it bcos value is less than 1k or the fund purchase not yet completed)
- the Portfolio Status shows various stages of each fund, from "Placed", "Completed" "Authorised" but have no idea what each means
- it seems the initial 1K not finished processing yet !?

Sat/Sun
- value updated a couple of times, from 1100.XX (small gain, incl top up) to 1099.XX (small loss) BUT still unable to withdraw
- now my $100 top up has to wait 2-4 days to complete fund buying process ! :eek:

The various status as your portfolio contains a few funds/ETFs so it does not mean Singlife will complete all the 'buying' of funds on the same day, as they can belong to different country/markets and does not follow SG timing.

Funds cannot be withdrawn while it is still 'buying' till completed everything.
 

katana71

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Just for fun I created a Grow (Conservative) a few months ago ie the so called safest portfolio with just 1k to see how it works out.

Currently this safest portfolio is also suffering a $19 loss :s22: :flash: :s13: :o :o
 

reddevil0728

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Just for fun I created a Grow (Conservative) a few months ago ie the so called safest portfolio with just 1k to see how it works out.

Currently this safest portfolio is also suffering a $19 loss :s22: :flash: :s13: :o :o
safest is relative..

had you chose a less safe portfolio, it might be more than $19 loss. thought of that?

nothing ironic tbh.
 

oceanicmanta

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The various status as your portfolio contains a few funds/ETFs so it does not mean Singlife will complete all the 'buying' of funds on the same day, as they can belong to different country/markets and does not follow SG timing.

Funds cannot be withdrawn while it is still 'buying' till completed everything.

yes, I understand and was expecting these ...

I was also thrown off seeing the Portfolio Value appear on the 3rd day, and assumed wrongly all buying completed

for 1st timer, the single-word description for each Fund status is not meaningful ... I think it progresses from "Placed", "Authorised", then finally "Completed" (assuming Completed is the final stage ?)

eg) when the status is "Placed", I would not know that there r 2? more stages to completion (now I know)

eg) when all Funds buying completed, would the Portfolio change from "In Progress" to "Active" ? (still dont know)

App could do with more pop up explanation of the various terminologies used
 

maumu

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Just for fun I created a Grow (Conservative) a few months ago ie the so called safest portfolio with just 1k to see how it works out.

Currently this safest portfolio is also suffering a $19 loss :s22: :flash: :s13: :o :o
the market bled quite a bit in September.. into October. not surprised to see even the least risky portfolio also go under.

hopefully the market will recover soon.. but now seems a good time to DCA.
 

qingyong

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Just for fun I created a Grow (Conservative) a few months ago ie the so called safest portfolio with just 1k to see how it works out.

Currently this safest portfolio is also suffering a $19 loss :s22: :flash: :s13: :o :o
Where got so fast see result one
 

oceanicmanta

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update :

Mon - morning, left 1 fund (out of 8) showing as "Placed" ... Others are "Completed"

Mon - evening, all funds appear to have been "Completed" (there is no longer any info under "My Request")
- the Portfolio status in now "Active" (previous was "In Progress")
- it seemed that the Fund buying process has been completed BUT still UNABLE to withdraw !
- portfolio value changes a couple of times

Tues - morning, Portfolio Value drops to 1096.XX (loss of $4) :censored:
- still unable to withdraw
- SingLife LiveChat Agent says even though Fund Buy status is "Completed" and Portfolio is "Active", still need 2 days for Trade Settlement !! ?? (so Completed is not really completed)

Based on my timeline, as a guide, Friday morning top up Premium, Mon evening complete buying of last fund and Portfolio turns Active, add 2 days for Trade Settlement ... so hopefully Wed or latest Thurs can withdraw ? (to be confirmed)
 

Rusty89

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yesterday after Singlife crediting my Sept interest, I cancel the account and withdraw money back to my bank account. Quite fast, done in 10mins and got S$0.5 service fee

Eh how do you cancel the account? can just withdraw everything and leave the balance at 0? How come got service fee?
 

sgbird

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Eh how do you cancel the account? can just withdraw everything and leave the balance at 0? How come got service fee?
Go the App, click the policy, top right corner got 3 dots, click the 3 dots got option of "Surrender", Click Surrender and fill in your bank details or Paynow details. After surrender I think your account still active but the policy will be terminated.

Service charge not sure, suspect charged by SingLife for admin cost?
 

maumu

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don't understand why some of you want to cancel a no-strings-attached 1%/1.5% interest rate account?
 
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