Standchart eSaver

[Trazora]

Can you elaborate? Interests are paid on daily basis and not hourly basis.

You earn the same interest whichever time you do the transfer, as long you do before the cutoff. After cutoff, your funds will be in limbo by at least 1 day.

Extend what you saying here to 2 or more high interest accounts..

 

[vince123123]

Can I ask whether anyone knows when was the previous eSaver promotion before the current 1 Aug to 30 Sept? The reason I ask is because my RM says that such promotions are usually not back to back based on history. In other words, it is not likely that there will be yet another promotion on 1 October 2016. Is that true? If so, should I still open my two eSaver accounts on 1 October 2016 or wait for later?

 

[oceanicmanta]

eSaver been going on at least past 18 mths without break

wait for 1 Oct, see if any new promo rate offered, then decide to open

open 1 first, second one can open later.

PS my first eSaver dates back to Nov 2014

 

[vince123123]

Oh, that means my RM sala liao? Are you saying that the eSaver promotions for bonus interest have been ongoing since November 2014 without any months with no promotion?

Is there any disadvantage to just opening on 1 Oct even if there's no promo, to prepare in advance for an upcoming promo? there's no min balance or fall below fee right?

eSaver been going back at least past 18 mths without break

wait for 1 Oct, see if any new promo rate offered, then decide to open

PS my first eSaver dates back to Nov 2014

 

[Trazora]

Oh, that means my RM sala liao? Are you saying that the eSaver promotions for bonus interest have been ongoing since November 2014 without any months with no promotion?

Is there any disadvantage to just opening on 1 Oct even if there's no promo, to prepare in advance for an upcoming promo? there's no min balance or fall below fee right?

By right min balance $1000, fall below fee $5, but by left no fee if balance is $0.

 

[oceanicmanta]

Oh, that means my RM sala liao? Are you saying that the eSaver promotions for bonus interest have been ongoing since November 2014 without any months with no promotion?

Is there any disadvantage to just opening on 1 Oct even if there's no promo, to prepare in advance for an upcoming promo? there's no min balance or fall below fee right?

that's correct .. maybe there was just 1 month break ... else promo all the way since Nov14 for mine (that time 200k only 1.35% ) or earlier for others

Priority no min balance. Else its $1k & $5 fee I think.

no point prepare in advance i think. it's opened on the spot one at the branch for new clients.

I think new promo will be announced on 1 Oct.

 

[Mecisteus]

Extend what you saying here to 2 or more high interest accounts..

Your number of accounts are irrelevant.

We are talking about funds transfer.

You transfer funds before cutoff, recipient will receive same day. Not earlier or yesterday.

Problem comes if you transfer after cutoff.

 

[sgdividends]

I think I get what trazora is saying .

Say bank b cutoff 10pm
Bank a cut off 11pm

Keep in bank b till after 10pm.
Transfer to bank a before 11pm.

Earn both

 

[vince123123]

Thanks Trazora and oceanicmanta for the information.

I was thinking of preparing in advance because if say, on 1 Oct, there's no promo. At least I'll be ready on 1 November or 1 December or whenever otherwise I have to make special trip to specifically open on 1 Nov (which I may not have the time). Also 1 Oct is a Saturday which helps. Since I'm priority, I can just open and leave it at zero dollars. Or is there some other factor or promo for only "newly" open accounts so I should wait?

Also, can I open 2 eSavers at one shot or will the branch people give me weird looks?

By right min balance $1000, fall below fee $5, but by left no fee if balance is $0.

that's correct .. maybe there was just 1 month break ... else promo all the way since Nov14 for mine (that time 200k only 1.35% ) or earlier for others

Priority no min balance. Else its $1k & $5 fee I think.

no point prepare in advance i think. it's opened on the spot one at the branch for new clients.

I think new promo will be announced on 1 Oct.

 

[Trazora]

I think I get what trazora is saying .

Say bank b cutoff 10pm
Bank a cut off 11pm

Keep in bank b till after 10pm.
Transfer to bank a before 11pm.

Earn both

Lol. Return to my query, do different banks take snapshots at different time as the daily balance.

 

[zoossh]

I still don't understand why would anyone initiate a transfer at the last hour?

Avoid all the borderline cutoff. Do your funds transfer in the daytime. ie 11 am.

lol. that's like someone saying i always sleep before 9, i dun understand why on earth people go out to eat dim sum at 2am.

u cant use your own benchmark to judge others. not everyone live their lives like you and they dun have to.

 

[Mecisteus]

lol. that's like someone saying i always sleep before 9, i dun understand why on earth people go out to eat dim sum at 2am.

u cant use your own benchmark to judge others. not everyone live their lives like you and they dun have to.

Go and read back most of your posts. You made such a big hoohaa because you got problems with some of your accounts with regards to your balance.

You want to go eat dim sum at 2 am but you are complaining that you are sleepy?

A rational person would eat early or next day.

 

[Jazzbie]

I think I get what trazora is saying .

Say bank b cutoff 10pm
Bank a cut off 11pm

Keep in bank b till after 10pm.
Transfer to bank a before 11pm.

Earn both

If this really works, then everyday can get multiple interest from multiple banks liao leh

Bank A should only receive the money from Bank B the next working day.

 

[heng_ah]

If this really works, then everyday can get multiple interest from multiple banks liao leh

...

It works (for now). Blame it on the different cut off time.

However, you cannot do it everyday lah. Banks have monthly maximum total transfer out amount. (ie. Bank B=300K, etc. You need to research on it, though)

 

[chopra]

I suppose it's ocbc only. U can even call to verify FAST cutoff with them.

Dont mix up and later get none from both

Smrt can have breakdown. So can ocbc computer system.

Sent from hoping for a slower paced singapore using GAGT

 

[tmkedmw]

I think I get what trazora is saying .

Say bank b cutoff 10pm
Bank a cut off 11pm

Keep in bank b till after 10pm.
Transfer to bank a before 11pm.

Earn both

This "earn both" thing will not happen.

Banks compute interest based on what's in your account at 2359 hours.

FAST transfer cut off times can vary between banks due to different batch processing times but daily interest given by banks is always based on your balance at 2359 hours.

 

[Trazora]

This "earn both" thing will not happen.

Banks compute interest based on what's in your account at 2359 hours.

FAST transfer cut off times can vary between banks due to different batch processing times but daily interest given by banks is always based on your balance at 2359 hours.

Ok, any evidence/credential to support the claim that daily interest given by banks is always based on your balance at 2359 hours

 

[cybercom8]

ok who has really earned interest from these different cutoff times?

i am going to get my friend to try with a 7 figure sum and see if its worthwhile

 

[Jazzbie]

It works (for now). Blame it on the different cut off time.

However, you cannot do it everyday lah. Banks have monthly maximum total transfer out amount. (ie. Bank B=300K, etc. You need to research on it, though)

How you know it works? Tested before personally?

Sent from Samsung SM-G900F using GAGT

 

[zoossh]

Go and read back most of your posts. You made such a big hoohaa because you got problems with some of your accounts with regards to your balance.

wow. u actually went back to dig posts? u aint so narrow minded and petty, r u? it isnt a big hoo haa, and there isn't any big problem with my accounts.

You want to go eat dim sum at 2 am but you are complaining that you are sleepy?

bad analogy and poor logic. no one who is wanting to eat dim sum at 2 am is complaining of being sleepy. they are all ready to go.

A rational person would eat early or next day.

a rational person wont go out to eat at 2am, that is what u r saying, it seems. and so i assume that all those people who is working night shift aint rational people including those doctors who serve u at night at the emergency department?


look, if u r here to contribute, we will all welcome you. but like what i said before, people do not need to follow your lifestyle. as long as the comments made is reasonable, it is valid and there is no need to impose on others.