Standchart eSaver

[GrandJedi]

not sure what you mean by "value date is more important than posting date".

just need to follow the conditions stated in tnc.. it doesn't matter what we (customers) perceive but what the banks define their positions when evaluating promotion eligibilities, etc...

What I meant was interest earned for savings accounts are based on valued dates and credit card cashback conditions are based on posting dates.

 

[maumu]

What I meant was interest earned for savings accounts are based on valued dates ...

for which bank(s) and can you quote the source?

because based on my experience, the interest is based on posted dates (e.g. HSBC).

anyway I hardly do transactions on non-working days like Sundays and PHs precisely to avoid these kind of grey areas.

 

[Squaredot]

SCB esaver interest is calculated based on Value Date.

 

[waddahell]

SCB esaver interest is calculated based on Value Date.

Value date like weird leh.
If it’s value date that the below clause shouldn ‘t stand.

“For the avoidance of any 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.”

 

[Squaredot]

Value date like weird leh.
If it’s value date that the below clause shouldn ‘t stand.

“For the avoidance of any 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.”

why weird?

 

[waddahell]

why weird?

Value date can still take place on Sunday/PH. Post date will be the next working day. Probably no need to have this clause if it’s by value date.

 

[Squaredot]

Value date can still take place on Sunday/PH. Post date will be the next working day. Probably no need to have this clause if it’s by value date.

That clause will supercede the value date when Sunday/PH is the last day of the month lah, otherwise it's fine. That's why there is this clause right?
So far I have no issues with esaver interest calculations.

 

[hyperbole]

Value date can still take place on Sunday/PH. Post date will be the next working day. Probably no need to have this clause if it’s by value date.

if i transfer in money on a sunday to scb, the transaction is posted on monday. if i take out money on sunday kena "interest adjustment" wth

 

[sibeiTrolled]

Maybe it just the case of giving interest earlier hence the claw back.

Based on my own excel, the interest given tallies to what i have IF interest was given out on 30th June night or on 1st july morning and not on 29 June.

Since SCB has given out interest for 30 days on the 29th day, make sense to have this claw back when user out money away before the 30 days are up.

 

[waddahell]

if i transfer in money on a sunday to scb, the transaction is posted on monday. if i take out money on sunday kena "interest adjustment" wth

I took out yesterday. see will deduct or not. I will update again.

 

[iosnewbie]

I received 2 months of eSaver bonus interest in May and Jun, each time slightly over $400 for my initial deposit of 150k. For July, bonus interest was only $1.27.

If I empty my SCB account now, can I still take part in subsequent eSaver promos 1-2 months later? Or should I consider moving my funds to some other bank’s higher interest account? I am already on UOB One with UOB Stash.

 

[sibeiTrolled]

received 2 months of eSaver bonus interest in May and Jun, each time slightly over $400 for my initial deposit of 150k. For July, bonus interest was only $1.27.

For the promo of June and July, it is compared against MAY 2024 ADB.

So since you only had 1.27 SGD BI for month of June, I assume you did not input new monies into the esaver account in June?

If I empty my SCB account now, can I still take part in subsequent eSaver promos 1-2 months later

Yes, once you entered a promo, it is better to leave the account empty or with the minimum amount then come back once the new cycle has started so your previous month ADB is low or zero

 

[tytyty333]

I received May's bonus interest on 31 May. But have not received the bonus interest for June yet. Anyone have the same situation?

 

[tytyty333]

I received May's bonus interest on 31 May. But have not received the bonus interest for June yet. Anyone have the same situation?

I am in an invited promotion from Apr to Jul.

 

[waddahell]

I received May's bonus interest on 31 May. But have not received the bonus interest for June yet. Anyone have the same situation?

Cannot confirm 100%. June/July is the new batch of promo and referenced to May ADB? Unless there is a May/June promo which I’m not aware of. If I’m right, your May ADB is high and that’s why no bonus interest for June. Did you receive base interest for June?

Ignore above. Just saw you are on Apr to July invited.

 

[iosnewbie]

For the promo of June and July, it is compared against MAY 2024 ADB.

So since you only had 1.27 SGD BI for month of June, I assume you did not input new monies into the esaver account in June?


Yes, once you entered a promo, it is better to leave the account empty or with the minimum amount then come back once the new cycle has started so your previous month ADB is low or zero

I transferred 150k into my eSaver account 2nd April. After that never touch the account.

 

[bargin]

I transferred 150k into my eSaver account 2nd April. After that never touch the account.

R U are in Apr-May 2024 promo, thus your June does not BI

 

[sibeiTrolled]

I transferred 150k into my eSaver account 2nd April. After that never touch the account.

Like what @bargin said, now the question is promo are you on
1) Public Apr - May
2) Private?

If public Apr-May promo then make sense that you didn't get Jun BI since Jun-July promo is based on May ADB which you have 150K and thus "no increment" for the promo to take place.

Please do take the time to read through the all the TnC since it has cause you to lose 1 month worth of good interest

 

[tytyty333]

I transferred in and immediately transferred out some funds in June. And the everyday end-day balance is $0. And I transferred in the funds on July 1st and will maintain them. Am I eligible for Jun 24 (compared with May) promotion or Jul 24 (compared with June)?

 

[heng_ah]

I transferred in and immediately transferred out some funds in June. And the everyday end-day balance is $0. And I transferred in the funds on July 1st and will maintain them. Am I eligible for Jun 24 (compared with May) promotion or Jul 24 (compared with June)?

Both Jun and Jul are comparing to same month (May).
Where did you get the info that Jul is compared with Jun?