Standchart eSaver

[EveMuffins]

I got the 3.65% invite but can't enjoy it as I can't transfer my funds out as my 31 Aug balance need to be higher than my 31 May balance to enjoy the current 3.5% until 31 Aug.

if I can't transfer funds out by 31 Aug also means I don't have 100k fresh funds to deposit in sep coz most of my money is in eSaver.

 

[sellipad2]

For my case, the RM informed me but I told him I did not get any SMS.
Anyway, he said I am eligible as he has helped me check with their back end.

After that, I noted that there is "notification" in the SC APP that mention about eligibility for the promotion.
But it did not specify which account is eligible. (I have 2 eSaver accounts)

So may I check with those who got the promotion of 3,65% from Sep to Jan, did you get SMS, email or notification from app. And does the invitation mention which account is eligible ?

Thanks.

Below is my promotion link:
https://www.sc.com/sg/terms-and-conditions/esav-s23/

If you read the T&C, it will auto activate whichever account that has top up of 100k, if you top up to 2 accounts, both esaver will be activated

The bonus interest is interesting till I see its 100K balance at least and by invitation only somemore.

Dunno why you guys keep chasing after these kind of promos, when it was 4.1% for 2 years FD with min. 20K before, no need to keep chasing.

When FD was offering 4.1% FD for 2 year, HSBC EGA was offering 4.5-4.7% for 3 months, and additional 1% more if you rotate around. Its always good to keep opportunistic funds liquid, i can use it to DCA into REITS, buy a property or do a partial prepayment for mortgage to reduce interest as and when opportunity arises. Best thing is when HSBC EGA or UOB decide to launch a competing offer next month, we can easily rotate the funds around with no lockin

 

[chiokcc]

With new invitation promotion, those with high balance may want to move them out today, 30 Aug so as to maintain a low End of Day balance on 31 Aug. This will allow a more flexible use of your funds in subsequent months and just need to match the End of Month balance with that of 31 Aug and enjoy the BI too. As mentioned earlier, need 100K to activate this promo.

Base on the logic quoted above, wouldn't it be better to withdraw on the 31st August itself?

 

[item2sell]

Read the tnc carefully and learn how to "hack"!

I did not receive invite, too bad!

I shared how to "hack" in the CIMB Fastsaver thread, in the end, I decided not to have a relationship with them
Now I am busy exploring my other hacks with 2 other banks.

which other bank has hacks

 

[Devilsire]

I got the 3.65% invite but can't enjoy it as I can't transfer my funds out as my 31 Aug balance need to be higher than my 31 May balance to enjoy the current 3.5% until 31 Aug.

if I can't transfer funds out by 31 Aug also means I don't have 100k fresh funds to deposit in sep coz most of my money is in eSaver.

hmmm different promo (may-aug) i guess with the incremental balance (may) in place?
mine was

​

Dear Valued Client, In recognition of your valued support, we are pleased to inform you that you have qualified to enjoy 4.00% p.a. interest on the first S$5,000,000 of your e$aver account Average Daily Balance (ADB) for 6 months. From 1‌ March 2‌023 to 31‌ August 2‌023, you will earn interest on balances in your eligible e$aver account(s) ending xxxx in the manner set out below.​

 

[V_for_Vanilla]

KNS, simi sai invitation also always bo receive.

I received. But it was for promo from Aug to Jan based on 31 July balance. Which is useless for me as my previous promo ended in July.

 

[ahchan]

Base on the logic quoted above, wouldn't it be better to withdraw on the 31st August itself?

Yes, I got the same question.
Is it better to move out on 31-Aug since it takes end of day balance as of 31-Aug (does it mean 2359hrs of 31-Aug ?)

 

[Devilsire]

Yes, I got the same question.
Is it better to move out on 31-Aug since it takes end of day balance as of 31-Aug (does it mean 2359hrs of 31-Aug ?)

simply bcos "is at least S$100,000 higher as compared to your deposit balance on 31 August 2‌023, to qualify for the promotion." and we dont know how their system logs, eg. 00:00 31Aug or 23:59 31Aug.
thus prudence/kiasi kicks in at the costs of pulling down ADB for month of Aug by an extra day

 

[Garlic & Butter]

anyone noticed this clause? Applies for those on Aug - Oct cycle， seems all entries for value 31st Aug tomorrow will not be considered at all:


4e.：For the avoidance of doubt, any deposit, withdrawal or otherwise transaction in relation to your Qualifying Account(s) that takes place on the last day of a calendar month, falling on either a Sunday, a public holiday or a bank holiday, will not be taken into consideration for the purposes of the Bank’s computation of ADB and crediting of Bonus Interest.

https://www.sc.com/sg/terms-and-conditions/esav-jy23/

 

[Hulky8]

It’s based on the month end balance of aug and not average daily balance. This promotion and the previous promotion (by invite) has been based on the month end balance and not average daily balance

1. you must deposit fresh funds of minimum S$100,000 into your Eligible Account(s), such that the end-of-day deposit balance on 30 September 2023 is at least S$100,000 higher than the end-of-day deposit balance on 31 August 2023. “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; and

So effectively you can’t withdraw 100k from yr acct n try to redeposit it within 30 days of the promotion period starting 1st sept,,,,so that’s the catch even though they say compare month end to minth end suffice,,anyone spoke to their RM to confirm this .

 

[happiee]

anyone noticed this clause? Applies for those on Aug - Oct cycle， seems all entries for value 31st Aug tomorrow will not be considered at all:


4e.：For the avoidance of doubt, any deposit, withdrawal or otherwise transaction in relation to your Qualifying Account(s) that takes place on the last day of a calendar month, falling on either a Sunday, a public holiday or a bank holiday, will not be taken into consideration for the purposes of the Bank’s computation of ADB and crediting of Bonus Interest.

https://www.sc.com/sg/terms-and-conditions/esav-jy23/

Not just last day but when it falls on "either a Sunday, a public holiday or a bank holiday" then it doesnt count. With this, the 31st August transfers should still count. That said, do note that since 1st Sep is now PH, the deposits will not count.

Yes, I got the same question.
Is it better to move out on 31-Aug since it takes end of day balance as of 31-Aug (does it mean 2359hrs of 31-Aug ?)

My question is since it says end of day balance. If I start with $101,000 and end with $1,000 by 23.59pm of 31st August and by the end of 30 Sep, I have $101,500, will they consider this $100,000 withdrawal to be withdrawn within 30 days of the promotion period?
Simply put, does the big withdrawals done on 31st August result in our September increases counted as "non-fresh funds"? Any workarounds if we dont have true fresh funds of 100k?

 

[martin]

I asked my RM why as a PB customer i never ever receive such invitations he said it’s not determined by him and he cannot influence things. Period.

 

[Squaredot]

I asked my RM why as a PB customer i never ever receive such invitations he said it’s not determined by him and he cannot influence things. Period.

did he offer to get u the same esaver deal?

 

[martin]

did he offer to get u the same esaver deal?

No, he said he has no influence.

 

[Squaredot]

No, he said he has no influence.

useless

 

[martin]

useless

Somemore last time he asked me to give him good review which I promptly did so. Now like that. Kns.

 

[alt2015]

Yes, I got the same question.
Is it better to move out on 31-Aug since it takes end of day balance as of 31-Aug (does it mean 2359hrs of 31-Aug ?)

Daily limit 200k? If more than 200k will have to Tfr some on 30th aug

 

[sglandscape]

Daily limit 200k? If more than 200k will have to Tfr some on 30th aug

Wise words from the experienced

 

[zippo1979]

I got the 3.65% invite but can't enjoy it as I can't transfer my funds out as my 31 Aug balance need to be higher than my 31 May balance to enjoy the current 3.5% until 31 Aug.

if I can't transfer funds out by 31 Aug also means I don't have 100k fresh funds to deposit in sep coz most of my money is in eSaver.

WOW Thanks for this reminder/pointer that EVERY MONTH'S LAST DAY BALANCE must be GREATER THAN 30th June DAY END BALANCE.

I almost didn't notice this as it had always been ADB against a comparison date ONLY from my memory.

Although my 30th June end of day balance is $1, I think this is still a very valuable lesson that we need to always read the TNCs properly again, do not assume you know the promo very well even though it is your 10th time participating as they could have inserted one additional clause to throw you off your footing.

 

[limjohnny]

No, he said he has no influence.

New bird?