Standchart eSaver

[crystalnox]

Looking for some advise :
Currently I have a few account with scb
1)bonus saver account
2)online trading account
3)foreign currency settlement account

I intended to close (1) due to limit to maintains minimum 3k SGD to avoid fall below fees of $5 every month.

After calling with the consumer service I was told if I closed (1), the (3) will be close as well. Which I would like to avoid it because I might use it for my trading account (2).

If there is any way to avoid the fall below charge? Possible with different types of account instead of e saver?

You need to keep at least 1 bank account with them to do trading.

 

[sheng6690]

Esaver $1k ADB only which is the lowest among their account types.

It sound like the best idea, it that possible to closed bonus saver, and replace by esaver account instead ?

 

[crystalnox]

It sound like the best idea, it that possible to closed bonus saver, and replace by esaver account instead ?

Open esaver first then close your bonus saver, assuming you've fulfilled the min. 6 months otherwise early closure fee.

 

[HMAN]

Looking for some advise :
Currently I have a few account with scb
1)bonus saver account
2)online trading account
3)foreign currency settlement account
I intended to close (1) due to limit to maintains minimum 3k SGD to avoid fall below fees of $5 every month.
After calling with the consumer service I was told if I closed (1), the (3) will be close as well. Which I would like to avoid it because I might use it for my trading account (2).
If there is any way to avoid the fall below charge? Possible with different types of account instead of e saver?

advise you to keep the Bonus saver account.
the multi currency account is very useful. I used it to store USD/HKD for shares trading as well as wire USD.

i have some Company given USA shares managed by USA stock brokerage agent, I setup wire transfer to my SC Bonus saver -USD to receive the sale proceeds. this is way cleaner and faster.
in the past, only cheques option available, very lengthy process to receive USD cheques to my address then deposit to local bank, wait 3 weeks to get clearance yet with hefy processing fees.


setup e-Saver account dongkey years ago , could not recall, my batch should be zero fall below fee .





Read HWZ Forum Rules!

 

[hungryfella]

https://www.sc.com/sg/save/savings-accounts/esaver/
how come ppl say 3.8% is invites only? on their website already saying 3.8% pa

e$aver Bonus Interest (1 December 2022 to 31 January 2023) Promotion​

From now till 31 January 2023, earn up to 3.80% p.a. interest on eligible deposit balance of S$2 million with no lock-in period when you bring in incremental fresh funds* (compared to November 2022 average daily balance)

PREVAILING INTEREST RATE ON DEPOSIT BALANCE	BONUS INTEREST RATE ON ELIGIBLE INCREMENTAL BALANCE	TOTAL INTEREST RATE ON ELIGIBLE INCREMENTAL BALANCE
0.05% p.a.	3.75% p.a.	3.80% p.a.

* “Fresh funds” means funds that do not originate from any existing account with the Bank or funds that are not withdrawn and re-deposited within 30 days of the Promotion Period.

We are pleased to inform you that you can now earn more bonus interest on your e$aver balances with no lock-in period. Exclusively for you: Higher bonus interest rate of 3.75% p.a. on the first S$5,000,000 of your e$aver account Average Daily Balance (ADB) That’s up to S$93,493 bonus interest! Grow your savings with your e$aver account now. From 1 December 2022 to 31 May 2023, you will earn interest on balances in your eligible e$aver account(s) ending xxxx in the manner as set out below:​

Prevailing Interest Rate on Deposit Balance (A) ​ 0.05% p.a.​ Bonus Interest Rate on ADB of up to S$5 million (B) ​ 3.75% p.a.​ Total Interest Rate on ADB of up to S$5 million (A+B) ​ 3.80% p.a.​

The promo i got emailed was this ^^

since they use ADB (average daily balance), there is no need for me to play musical chairs right?

 

[savinmax]

​

We are pleased to inform you that you can now earn more bonus interest on your e$aver balances with no lock-in period. Exclusively for you:​ Higher bonus interest rate of 3.75% p.a. on the first S$5,000,000 of your e$aver account Average Daily Balance (ADB) That’s up to S$93,493 bonus interest! Grow your savings with your e$aver account now. From 1 December 2022 to 31 May 2023, you will earn interest on balances in your eligible e$aver account(s) ending xxxx in the manner as set out below:​

Prevailing Interest Rate on Deposit Balance (A) ​ 0.05% p.a.​ Bonus Interest Rate on ADB of up to S$5 million (B) ​ 3.75% p.a.​ Total Interest Rate on ADB of up to S$5 million (A+B) ​ 3.80% p.a.​

The promo i got emailed was this ^^

since they use ADB (average daily balance), there is no need for me to play musical chairs right?

That’s correct.
If you are happy with 3.8% pa, the designated esaver account will earn the stated interest until end May2023.
But just note that the bonus interest of 3.75% will be only given around the 20th of the following month.

 

[Cookie Muncher]

how come i didn't get any email

 

[sohguanh]

how come i didn't get any email

Instead of wondering why should source alternative even if they are a bit inferior. Trying to fathom how they decide who get invite is not helpful and waste of one time

 

[iduncheckmail]

Instead of wondering why should source alternative even if they are a bit inferior. Trying to fathom how they decide who get invite is not helpful and waste of one time

well, this is true .
Even i got the invite from dec - may , i havent even utilised it at all.
There are better options at current.

 

[sohguanh]

well, this is true .
Even i got the invite from dec - may , i havent even utilised it at all.
There are better options at current.

Your current options should be for short term month after month. I would think it maybe wise to lock some at 12 months and above on top of current month by month which may or may not last until Dec 2023

 

[hungryfella]

That’s correct.
If you are happy with 3.8% pa, the designated esaver account will earn the stated interest until end May2023.
But just note that the bonus interest of 3.75% will be only given around the 20th of the following month.

thks for the info!!

 

[iduncheckmail]

Your current options should be for short term month after month. I would think it maybe wise to lock some at 12 months and above on top of current month by month which may or may not last until Dec 2023

Lol what makes you think that ?
Why my current options cannot include cimb fd @4.15% ? Even it’s more than scb

 

[Hulky8]

Lol what makes you think that ?
Why my current options cannot include cimb fd @4.15% ? Even it’s more than scb

unless you are happy to lock yr money away for 12,,,18 m with 4.15%
otherwise 3.8% parking there while you decide on what to do with the money,best ways fwd

 

[iduncheckmail]

unless you are happy to lock yr money away for 12,,,18 m with 4.15%
otherwise 3.8% parking there while you decide on what to do with the money,best ways fwd

Nope I’m not locking up my money. That’s just an illustration .

 

[sohguanh]

unless you are happy to lock yr money away for 12,,,18 m with 4.15%
otherwise 3.8% parking there while you decide on what to do with the money,best ways fwd

Lock some not all of the monies is what I mean

 

[Uacesg]

Going to open this esaver account for the bonus interest promo: https://av.sc.com/sg/content/docs/sg-esaver-tnc.pdf

- saw the fine print on $5 per cash withdrawal, this account penalise people for withdrawal?

- the bonus interest will be given at the end of 31st Jan or a few months later?

Thanks in advance

 

[Devilsire]

Going to open this esaver account for the bonus interest promo: https://av.sc.com/sg/content/docs/sg-esaver-tnc.pdf

- saw the fine print on $5 per cash withdrawal, this account penalise people for withdrawal?

- the bonus interest will be given at the end of 31st Jan or a few months later?

Thanks in advance

- counter transaction fee (same applies for most ibanking accounts) doesnt matters since nobody do that
- End month

 

[havetheveryfun]

Going to open this esaver account for the bonus interest promo: https://av.sc.com/sg/content/docs/sg-esaver-tnc.pdf

- saw the fine print on $5 per cash withdrawal, this account penalise people for withdrawal?

- the bonus interest will be given at the end of 31st Jan or a few months later?

Thanks in advance

now open maybe a bit late ? , think it is better to open now n leave it empty and wait for the feb to mar promo .. think wont drop too much (but cant guarantee since still got half a month to go)

 

[EveMuffins]

I've just received the 3rd portion of the 3.8% for Dec.

 

[direbmem]

Yes me 兔, just received $500+ of exclusive bonus interest, as I was on email invite for the 3.8%pa interest promo. 3Q SCB! Huat ahh!!