Standchart eSaver

[crystalnox]

The new version of SC Mobile seems crap? It does not reflect transfers that i made 30 minutes ago.

Ya there is a delay. The old app was fine, the new update is a hot mess.

 

[Imhthc]

Ya there is a delay. The old app was fine, the new update is a hot mess.

Ya I agree. I prefer the old version when I can see my future transfer or payment in a glance when I click on the account which is exclusive to scb but I like it. Other banks like dbs, I dun even know whether I had done the future payment until I go thru so many steps just to check and it is very high tendency I forget to pay. With this new scb version, I need to click on the transaction tab to check. Though easier than other banks but still I think the old version is best. Dunno why they want to change it.

 

[zippo1979]

Ya I agree. I prefer the old version when I can see my future transfer or payment in a glance when I click on the account which is exclusive to scb but I like it. Other banks like dbs, I dun even know whether I had done the future payment until I go thru so many steps just to check and it is very high tendency I forget to pay. With this new scb version, I need to click on the transaction tab to check. Though easier than other banks but still I think the old version is best. Dunno why they want to change it.

ya man.. i realised i had to SELECT THE ACCOUNT first, then go to PAY AND TRANSFER, then click on TRANSACTIONS, then I can see what i did this morning. And even so, it is not a complete list of transactions done this morning, just some. Interest for the month NOT reflected.

what a lame 'upgrade'... lucky i tested the upgrade on another phone first.

I am planning to delay updating the app on my main phone as much as possible.

 

[Imhthc]

ya man.. i realised i had to SELECT THE ACCOUNT first, then go to PAY AND TRANSFER, then click on TRANSACTIONS, then I can see what i did this morning. And even so, it is not a complete list of transactions done this morning, just some. Interest for the month NOT reflected.

what a lame 'upgrade'... lucky i tested the upgrade on another phone first.

I am planning to delay updating the app on my main phone as much as possible.

I wondered whether they did some market survey before going ahead with the “upgrading”. And testing wise, not sure how intense it had been to actually missed out on this issue on the 1st day of the new month with interest not reflecting.

 

[V_for_Vanilla]

if on promo usually comes in later n not at start of the month..

So far I recall Stanchart's bonus interest always credit at start of month.

 

[V_for_Vanilla]

i think the new version of the app is having some issues. When I said I saw my interest crediting details, it was on old version of app.

Stanchart has new app? I am still using the existing one.

 

[Mickey01]

Stanchart has new app? I am still using the existing one.

see post #3966

 

[konan~]

yeah i actually expected only 1 line base interest on 28th February and the 3,75% on 10th March. But now I see 2 lines, base interest and bonus interest on 28th February.

I will see if I get my Exclusive Bonus Interest line on 10th March before I call in.

The Exclusive Bonus should be credited by 20th of following month. It came early for month of Feb.

 

[zippo1979]

So far I recall Stanchart's bonus interest always credit at start of month.

exclusive bonus interest usually on 10th of next month

the standard bonus interest on incremental ADB is month-end along with base interest.

 

[zippo1979]

The Exclusive Bonus should be credited by 20th of following month. It came early for month of Feb.

ah i see.. oh well.. let's see for February how, because I parked my RHB funds temporarily into Esaver for the last few days of February. Hope I get the full 3.8% p.a.

 

[Hulky8]

I have the same issue on interest payment
usually 2 lines of int pymt ,1 line is CR interest ,that’s 0.05%
the next line is bonus interest payment which ll give roughly 1.8%
The other pymt is called exclusive bonus pymt,usually make out on 20th of the month ,together
ll make 3.8% for the month
But yesterday ,I only got 0.1% for bonus interest…so something definitely screw up there since my
3.8% invite lasted till 28th Feb

 

[Squaredot]

I have the same issue on interest payment
usually 2 lines of int pymt ,1 line is CR interest ,that’s 0.05%
the next line is bonus interest payment which ll give roughly 1.8%
The other pymt is called exclusive bonus pymt,usually make out on 20th of the month ,together
ll make 3.8% for the month
But yesterday ,I only got 0.1% for bonus interest…so something definitely screw up there since my
3.8% invite lasted till 28th Feb

Wait. What's your Jan ADB??

 

[zippo1979]

I have the same issue on interest payment
usually 2 lines of int pymt ,1 line is CR interest ,that’s 0.05%
the next line is bonus interest payment which ll give roughly 1.8%
The other pymt is called exclusive bonus pymt,usually make out on 20th of the month ,together
ll make 3.8% for the month
But yesterday ,I only got 0.1% for bonus interest…so something definitely screw up there since my
3.8% invite lasted till 28th Feb

yes WE HAVE THE SAME ISSUE

i got 0.05% base interest and 0.2% bonus interest.

supposed to be total 3.8% p.a. Don't worry at least now we know is confirmed system issue. Just wait till 20th before contacting RM i guess

 

[zippo1979]

Wait. What's your Jan ADB??

the exclusive promo does not have incremental ADB condition. It is on entire balance. I know what you are suggesting, but it should not apply to the exclusive invite. Hence possibility of system messup with what you are suggesting.

Prevailing and Bonus Interest Rates

3. Under this Promotion, you will be eligible to receive prevailing interest (“Prevailing Interest”) on your entire deposit balance (“Deposit Balance”) in the Qualifying Account(s), at the prevailing interest rate of 0.05% p.a.

4. In addition to Prevailing Interest, if you meet the eligibility criteria in Clause 2 above, you will also earn the relevant bonus interest ("Bonus Interest") at the relevant bonus interest rates as stated in Clause 5 (each such rate to be referred to as a “Bonus Interest Rate”) on the first S$5,000,000 of the average daily balance (“ADB”) in your Qualifying Account(s), during the Promotion Period, subject to the following:

a. The ADB in your Qualifying Account(s) is used to determine the amount of Bonus Interest you are entitled to receive during the Promotion Period; b. ADB is the sum of end-of-day account balances of all days in a particular calendar month, divided by the number of days in that month, where “end-of-day account balances” means account balances as of 2359 hours of each day

 

[V_for_Vanilla]

There seems to be some error for Exclusive Bonus Crediting. I am under the 3.8% p.a. until 30th June 2023 promo. It is supposed to be on the entire ADB and not incremental month-on-month ADB.

I got 2 lines for 28th February:

CR Interest
Bonus Interest Payment for 2023-02

The CR interest is correct at about 0.05%p.a. of my February ADB.
But the Bonus Interest Payment for 2023-02 is very off and I cannot reconcile it. It is about 0.2% p.a. of my February ADB.

I am hoping for the additional Exclusive Interest to come about 10th March and hopefully added together will be 3.75% p.a.

Last month, I got 1 line CR Interest on 31st January (0.05% p.a.) and 1 line Exclusive Bonus Interest on 10th February (3.75% p.a.). Added together was correct at 3.8% p,a, on January's entire ADB.

The line 'Bonus Interest Payment for 2023-02' based on my calculation is likely based on 3.8%.

 

[zippo1979]

the INCREMENTAL ADB condition is only for the normal 3.8% promo under Clause 6. This clause is not found in the exclusive promo TNC.

https://av.sc.com/sg/content/docs/sg-esaver-tnc.pdf

 

[zippo1979]

The line 'Bonus Interest Payment for 2023-02' based on my calculation is likely based on 3.8%.

haha.. mine is only 0.2% p.a.

 

[zippo1979]

my guess is their system messed up.. and possibly considered incremental ADB for February 2023 on top of January 2023's for the Exclusive Invite batch.

let's see.

 

[zippo1979]

They could have changed their mechanics of their interest calculation to be consistent.

So:
28th Feb = They give 0.05% Base Interest for all clients
28th Feb = They give 3.75% Bonus interest for all client (based on INCREMENTAL ADB approach)
20th Mar = They give the dued Exclusive Bonus Interest for Exclusive Clients (based on full balance approach - what was already paid out on 28th Feb).

This is my guess so I will not contact my RM until I see what happens on 20th March.

As long as Item 2 + Item 3 = 3.75% p.a. on my entire Feb balance, that's fine.

 

[V_for_Vanilla]

They could have changed their mechanics of their interest calculation to be consistent.

So:
28th Feb = They give 0.05% Base Interest for all clients
28th Feb = They give 3.75% Bonus interest for all client (based on INCREMENTAL ADB approach)
20th Mar = They give the dued Exclusive Bonus Interest for Exclusive Clients (based on full balance approach - what was already paid out on 28th Feb).

This is my guess so I will not contact my RM until I see what happens on 20th March.

As long as Item 2 + Item 3 = 3.75% p.a. on my entire Feb balance, that's fine.

For me I got the 4.20% invite on 21st Feb. And the promo specifically says "From now till 31 July......" So I take it the 4.2% takes effect from 21st Feb and overrides the 3.8% right away. However the T&C say,

"To qualify for the Promotion, (i) you must have received the Invitation Notice, (ii) you must deposit fresh funds^ into your Eligible Account(s), such that the end-of-day deposit balance on 31‌ March 2‌023 is at least S$100,000 higher than the end-of-day deposit balance on 31‌ January 2‌023,."

Which means bank may still have to wait till after 31 Mar in order to ascertain if I qualify for the 4.20% promo, and then pay out the difference between 4.20% and 3.80% for the period from 21st Feb onwards.