Standchart eSaver

bambooshoots

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It’s good that banks are checking. FAST transfers are done using account numbers, the recipient’s account name was just for reference only. Payor banks don’t or probably cannot ‘cross-check’ that is is a ‘same name’ transfer.
 

royalmix

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Simple common sense, if people spread falsehoods that banks dun monitor own account transfers, "ML guys" who believe and use that route to clean their money will obviously will be caught lah!
 

wira

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Because the logic is that it is an external account. Even if the recipient is the same name. So as long as it is outbound or within same bank but different name, plus amount transferred is a significant amount, it will red flag.
singapore banks currently don share customer account data between banks so when you set payee to send from Bank A to Bank B, Bank A does not know the payee details in Bank B hence cannot verify if its your account or not.
 

Ark Law

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singapore banks currently don share customer account data between banks so when you set payee to send from Bank A to Bank B, Bank A does not know the payee details in Bank B hence cannot verify if its your account or not.
Bank B may not be able to fully verify, but they can identify the account owner's name from FAST transfer transaction.

You ownself transfer from Bank A to Bank B, you can see your own name in Bank B's ledger.
 

sglandscape

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Bank B may not be able to fully verify, but they can identify the account owner's name from FAST transfer transaction.

You ownself transfer from Bank A to Bank B, you can see your own name in Bank B's ledger.
only after the fact and after the transfer is done. Before that domt have unless use paynow
 

twosix

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I believe one needs to know the details only if they want to beat the system.

Else nothing to worry about and continue to do your business as usual.
 

havetheveryfun

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I believe one needs to know the details only if they want to beat the system.

Else nothing to worry about and continue to do your business as usual.
i think some are more concerned that their accs kena closed or suspended since ppl have been reporting it happening to them recently.
 

twosix

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i think some are more concerned that their accs kena closed or suspended since ppl have been reporting it happening to them recently.
As. I said, if u r not doing anything illegal, then no need to worry. those who got their accounts locked, only they themselves know what they did. Do u think they will write here what they did truthfully, to air their grievances?
 

maumu

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Is Aug Bonus interest credited yet for those on the promotion?
should be by tomorrow (20th). am waiting for the 'balance' BI which is not fully given on 31 Aug to match the 3.55% I'm invited into.

sadly, this ends September so next month need to buzz around to hunt for the next best rates liao...
 

maumu

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I received a total of 3.53% of interest instead of the promised 3.55%... (by invitation) after adding up the base interest credited on 31 Aug, bonus interest credited on 31 Aug and exclusive bonus interest credited on 19 Sep.

dunno why the total don't tally..
 

Mickey01

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I received a total of 3.53% of interest instead of the promised 3.55%... (by invitation) after adding up the base interest credited on 31 Aug, bonus interest credited on 31 Aug and exclusive bonus interest credited on 19 Sep.

dunno why the total don't tally..
did u execute any funds transfer (deposit or withdrawal) on a Sunday or PH or after cut off hours?
 

magicming

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My by invitation SCB interest is paid in 3 parts. 1. Normal interest part on last day of month. 2. Main bonus interest part on last day of the month. 3. A smaller Exclusive bonus interest promo interest on 18-20th of following month.

my monies move in and out so I find it difficult to calculate if correct or not. 🤣
 

maumu

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did u execute any funds transfer (deposit or withdrawal) on a Sunday or PH or after cut off hours?

no leh. it used to be accurate to the 0.01 cent but strange last month's quite off by $2.90 in total BI.

My by invitation SCB interest is paid in 3 parts. 1. Normal interest part on last day of month. 2. Main bonus interest part on last day of the month. 3. A smaller Exclusive bonus interest promo interest on 18-20th of following month.

my monies move in and out so I find it difficult to calculate if correct or not. 🤣

I used an excel sheet to track daily in/out actually... a bit OCD but helps me understand the way the interest is calculated.
 

Suprememan

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Yes. It is under invitation 3.4% based ADB until 31Aug23.

All the time interest credit is on time but this time is out.
 
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