Standchart eSaver

[royalmix]

I have 2 esaver, at one time 3 (cos I priority, make them priority too!). Then interest drop until, aiyah, I close all the joint (cos I no more priority!). Then interest climb again, I open again, regret closing cos troublesome to open.

I dun like isavvy, have short life with me cos interest drop faster last time, got min balance, I dun like, so I close!

I alternate with others if interest rate is higher! No min balance, then I can make my money work harder every mth!

 

[iosnewbie]

An email will be sent to her with her temporary ID. She has to register for the online account using the temporary ID.

I was also slightly confused by the account opening process. To add on, once the temporary ID which comes in an email, use the SC Mobile app to create the login account (you get to choose the account user name, password complexity requirements isn’t very robust though). After account creation initially, you still can’t see the complete 10-digit esaver account number. Need to wait for at least 12 hours before that number is visible.

When I wanted to use FAST to transfer 150k from POSB to esaver, my FAST transaction was put under review until someone (a local lady voice) called me on my registered mobile number to verify that I did indeed make that FAST transfer request, the reason for doing so and some personal info items. This is what I expect from banks as part of fraud prevention. Although I think the process can be further strengthened of technically feasible, but POSB side initiating a verification request by their human bank rep, that goes to my POSB app and for me to authorize so that I can be doubly sure of the caller’s origins.

 

[a4973]

I was also slightly confused by the account opening process. To add on, once the temporary ID which comes in an email, use the SC Mobile app to create the login account (you get to choose the account user name, password complexity requirements isn’t very robust though). After account creation initially, you still can’t see the complete 10-digit esaver account number. Need to wait for at least 12 hours before that number is visible.

When I wanted to use FAST to transfer 150k from POSB to esaver, my FAST transaction was put under review until someone (a local lady voice) called me on my registered mobile number to verify that I did indeed make that FAST transfer request, the reason for doing so and some personal info items. This is what I expect from banks as part of fraud prevention. Although I think the process can be further strengthened of technically feasible, but POSB side initiating a verification request by their human bank rep, that goes to my POSB app and for me to authorize so that I can be doubly sure of the caller’s origins.

The call was from POSB rep ?

 

[iosnewbie]

The call was from POSB rep ?

I assume the call was indeed a POSB rep since she could tell me the amount I wanted to FAST transfer, the time of transaction and the target bank.
Still, I think the verification process could have been more stringent since there wasn’t any mechanism for me to verify the authenticity of the POSB caller.

 

[ctan84]

I assume the call was indeed a POSB rep since she could tell me the amount I wanted to FAST transfer, the time of transaction and the target bank.
Still, I think the verification process could have been more stringent since there wasn’t any mechanism for me to verify the authenticity of the POSB caller.

Yes, these days POSB account esp if you are above a certain age, when u do a big sum of transfer or several transfers continuously, be prepared to receive a call from the bank b4 the transfer can go thru.

 

[twosix]

Yes, these days POSB account esp if you are above a certain age, when u do a big sum of transfer or several transfers continuously, be prepared to receive a call from the bank b4 the transfer can go thru.

A lot of banks practised this nowadays. Cimb too will hold and call first to double check.

 

[DevilPlate]

Yes, these days POSB account esp if you are above a certain age, when u do a big sum of transfer or several transfers continuously, be prepared to receive a call from the bank b4 the transfer can go thru.

even for transfer to yr list of added payees & yr own name?

 

[DevilPlate]

A lot of banks practised this nowadays. Cimb too will hold and call first to double check.

I received call when they received a large sum instead LOL

 

[ctan84]

even for transfer to yr list of added payees & yr own name?

If its in your added payee liao (means there's a recorded history of that person being sent money to) then no. Account even your own name if first time will still kanna.

 

[DevilPlate]

If its in your added payee liao (means there's a recorded history of that person being sent money to) then no. Account even your own name if first time will still kanna.

I recently sent a lump sum >100k to newly added payee account (under my own name) and never received any call

*Not from POSB

 

[ctan84]

I recently sent a lump sum >100k to newly added payee account (under my own name) and never received any call

*Not from POSB

I don't know about other banks, but I kanna from POSB / DBS & SIF b4.

 

[DevilPlate]

I don't know about other banks, but I kanna from POSB / DBS & SIF b4.

i m refering to SC because this is SC esaver thread....then noticed u wrote POSB hahaha

 

[ctan84]

i m refering to SC because this is SC esaver thread....then noticed u wrote POSB hahaha

Coz the original person who talked about the phone call checks was referring to POSB wat.

 

[camholicx]

Seems like Esaver is better than MariBank at 3.45% interest.

Can I confirm that E-saver do not have other requirements i.e. salary or credit card usage or giro?

 

[lzydata]

Seems like Esaver is better than MariBank at 3.45% interest.

Can I confirm that E-saver do not have other requirements i.e. salary or credit card usage or giro?

Correct for all, no such requirements. Just minimum balance $1k.

 

[royalmix]

Seems like Esaver is better than MariBank at 3.45% interest.

Can I confirm that E-saver do not have other requirements i.e. salary or credit card usage or giro?

Esaver - promo is usually valid for 2 mths only, bonus interest is based on incremental ADB compared to Mar (for current promo). Min ADB is 1k to avoid fall below fee, but you can keep zero to avoid it too.

You need to transfer money out after 2 mths as it no longer enjoy bonus interest, unlike Maribank!

 

[iosnewbie]

this thread started in Jun 2015, has SCB been running esaver promos continuously since or have they ever stopped for a few months then roll out new promos again?

 

[sglandscape]

I was also slightly confused by the account opening process. To add on, once the temporary ID which comes in an email, use the SC Mobile app to create the login account (you get to choose the account user name, password complexity requirements isn’t very robust though). After account creation initially, you still can’t see the complete 10-digit esaver account number. Need to wait for at least 12 hours before that number is visible.

When I wanted to use FAST to transfer 150k from POSB to esaver, my FAST transaction was put under review until someone (a local lady voice) called me on my registered mobile number to verify that I did indeed make that FAST transfer request, the reason for doing so and some personal info items. This is what I expect from banks as part of fraud prevention. Although I think the process can be further strengthened of technically feasible, but POSB side initiating a verification request by their human bank rep, that goes to my POSB app and for me to authorize so that I can be doubly sure of the caller’s origins.

Very strange but I guess it's better to be safe. However you authorising the transaction, and if its an existing payee should be suspicious.

 

[Joelleyuan]

Damn, SC locked my account when i was trying to transfer out more than 30k to my Trust account with the same name!

i just did a similar transfer yesterday also no problem.

show me a dialogue box say my access to the acc is temporary suspended. asked me to call their 24HRS hotline but it is NOT 24hrs.
need to wait till 8am.

waste my time man.

 

[Guojing88]

Damn, SC locked my account when i was trying to transfer out more than 30k to my Trust account with the same name!

i just did a similar transfer yesterday also no problem.

show me a dialogue box say my access to the acc is temporary suspended. asked me to call their 24HRS hotline but it is NOT 24hrs.
need to wait till 8am.

waste my time man.

Scary, let us know the outcome later