Standchart eSaver

[xRenol]

The eg is based on ADB right? Conflicting with your first sentence?

I wanted to say that there is a difference between comparing against the last day and ADB of previous month.

I have edited my post as Imhthc mentioned that it has always been using ADB to calculate the bonus interest.

 

[magicming]

Can pm me please?

You can check Post #5,075 or do a search. For my view.

 

[redglue23]

Yes, confirmed by black and white email on the July ADB for the 3.65% exclusive promo beginning in Sep 2023 up to $5MM. I was also on the 4% exclusive promo ending 31 August 2023. Both had referenced July ADB for interest calculations.

The branch RM used a locked calculator (excel?) on her laptop that was done up by the SCB product team and the July ADB was needed as an input. Since my July ADB was only ~$2 vs my incoming AUM of ~$2MM, it was insignificant for my case.

My subsequent email to the branch manager, I mentioned my July ADB ~$2 in the calculation for both August and September 2023, branch manager confirmed in writing that the calculations was true and correct. I did warned the SCB staff to be extra careful on my account and seek immediate clarification from the product team immediately as my AUM is significant.

I was so anal on black and white written confirmation by senior SCB staff (aka branch Manager) as I just came out of a FIDReC case.

 

[Imhthc]

If got BankA using ADB and BankB using month end balance, both same interest rate, I can put BankA 100k for 29 days and BankB on the last day, then collect almost 200% interest from both sides?

Interest is calculated by number of days ur money is with the bank. If u put 100k in bank A for 29 days and transfer it to bank B on the last day, the interest will come out to be 100%. One is 29/365 and the other is 1/365*$100K. How to get 200% interest?

 

[DevilPlate]

Yes, confirmed by black and white email on the July ADB for the 3.65% exclusive promo beginning in Sep 2023 up to $5MM. I was also on the 4% exclusive promo ending 31 August 2023. Both had referenced July ADB for interest calculations.

The branch RM used a locked calculator (excel?) on her laptop that was done up by the SCB product team and the July ADB was needed as an input. Since my July ADB was only ~$2 vs my incoming AUM of ~$2MM, it was insignificant for my case.

My subsequent email to the branch manager, I mentioned my July ADB ~$2 in the calculation for both August and September 2023, branch manager confirmed in writing that the calculations was true and correct. I did warned the SCB staff to be extra careful on my account and seek immediate clarification from the product team immediately as my AUM is significant.

I was so anal on black and white written confirmation by senior SCB staff (aka branch Manager) as I just came out of a FIDReC case.

So shiok received invite back to back.

Mine ended April and no more special invite

 

[dango_daikazoku]

Yes, confirmed by black and white email on the July ADB for the 3.65% exclusive promo beginning in Sep 2023 up to $5MM. I was also on the 4% exclusive promo ending 31 August 2023. Both had referenced July ADB for interest calculations.

The branch RM used a locked calculator (excel?) on her laptop that was done up by the SCB product team and the July ADB was needed as an input. Since my July ADB was only ~$2 vs my incoming AUM of ~$2MM, it was insignificant for my case.

My subsequent email to the branch manager, I mentioned my July ADB ~$2 in the calculation for both August and September 2023, branch manager confirmed in writing that the calculations was true and correct. I did warned the SCB staff to be extra careful on my account and seek immediate clarification from the product team immediately as my AUM is significant.

I was so anal on black and white written confirmation by senior SCB staff (aka branch Manager) as I just came out of a FIDReC case.

Can ask them sic the excel calc to be triple sure?

 

[heng_ah]

Moving temporary to here from CIMB since they offered same rate but SCB gives out BI much earlier ( no need to wait till 20th)

 

[magicming]

Moving temporary to here from CIMB since they offered same rate but SCB gives out BI much earlier ( no need to wait till 20th)

Yes. That is a good move. I just advised a Friend to do this. Since cimb still not yet activate his account.

 

[twosix]

For normal customers, put the money in cimb and can forget for 6 months. Here, u have to change 2 months later.

 

[Cookie Muncher]

thanks to this forum then i realise i'm an unvalued client. i gotten zero invites, so many years of PB

 

[Ark Law]

thanks to this forum then i realise i'm an unvalued client. i gotten zero invites, so many years of PB

Bank KPI for promos only care about new customer acquisitions and fresh funds. Just like how banks cycle through their salespersons RMs, you should cycle through your banking relationships.

 

[twosix]

thanks to this forum then i realise i'm an unvalued client. i gotten zero invites, so many years of PB

you're not alone.

 

[Intel888]

For normal customers, put the money in cimb and can forget for 6 months. Here, u have to change 2 months later.

Yup, normal customers can do that.

But some may want to cap amount at a particular bank to 75k, so have to find alternative.

 

[twosix]

Yup, normal customers can do that.

But some may want to cap amount at a particular bank to 75k, so have to find alternative.

Good to spread out the eggs.

Also can consider t-bill that has better rates, but 6 months lock-in. Good for those who have no plans in the next few months for their spare cash.

 

[HOT123]

All banks are the same, only want to pursue new customers, regardless credit card or saving account.

Go open another joint Esaver account using another person as primary account holder, you move money around, that way the zero value account will receive invites.

 

[sellipad2]

This is the promo email and it’s definitely in response to the cimb promotion. They are even giving you time to transfer money out by 31 Aug so that your Aug end of mth balance can be lower and your balance for the next 5 mths qualifies for the bonus interest component.


Dear Sir,

As our valued client, you can earn up to 3.65% p.a. interest for 5 months on your e$aver balances.

From now till 31 January 2‌024, you will earn interest on balances in your eligible e$aver account(s) in the manner as set out below.

Simply top up your account with fresh funds^ of minimum S$100,000 by 30 September2‌023, such that your deposit balance on 30 September 2‌023 is at least S$100,000 higher as compared to your deposit balance on 31 August 2‌023, to qualify for the promotion.

For those that top up $100K by 30th sep, did you receive bonus interest in 1st week of Oct? I thought the 3.65% is paid out on 20th of following month..

 

[magicming]

For those that top up $100K by 30th sep, did you receive bonus interest in 1st week of Oct? I thought the 3.65% is paid out on 20th of following month..

On 30/9 I received base interest and some bonus interest. I expect the remainder Exclusive Bonus Interest on 20/10.

 

[sellipad2]

On 30/9 I received base interest and some bonus interest. I expect the remainder Exclusive Bonus Interest on 20/10.

Thanks i checked with CSO, they shared in tranche 1 they will pay 3.35% then 20th oct will pay out the difference 0.3%. They also able to confirm if your esaver has successfully enrolled for 3.65%

 

[Nanonited]

Thanks i checked with CSO, they shared in tranche 1 they will pay 3.35% then 20th oct will pay out the difference 0.3%. They also able to confirm if your esaver has successfully enrolled for 3.65%

Think issue now is pay on how much? I also received some bonus but i had balance in july also, seems the bonus now is for incremental vs july as per normal SCB esaver promo. Still need the 20th oct payout to confirm if they will match 3.65% on entire balance

 

[sellipad2]

Think issue now is pay on how much? I also received some bonus but i had balance in july also, seems the bonus now is for incremental vs july as per normal SCB esaver promo. Still need the 20th oct payout to confirm if they will match 3.65% on entire balance

At least can confirm they honouring the 3.65%. For me i am glad to get invited because i got very tired moving the funds every 2 months..