Standchart eSaver

[dpsk3000]

Ya I also didn’t get paid. Can confirm after logging in. One more thing: my SCB rebates for the month of September also didn’t come in. Spoke to CSO and told me before end of 31 Dec 2024. I’m like wth?

do you think the SCB is in trouble?

 

[jasonsouza77]

do you think the SCB is in trouble?

based on this i dont think so
https://av.sc.com/corp-en/nr/content/docs/standard-chartered-plc-3q-2024-results.pdf

 

[reflecx]

that is if you signup for the marathon program. they seems to have all sorts of gimmicks every bi monthly.

the bonus interest for normal account is not credited. did you get ur bonus interest for normal account?

SC changed their T&Cs for the normal (non-marathon) promo, bonus interest to be paid by 20th of following month as well. They must be learning from other banks.

 

[maumu]

we're just used to receiving the bonus interest on the same day as base interest (last day of month).

as per their new tnc... they can 'delay' their crediting of BI till 20th of the following month.

so LL have to wait. no reason to panic (yet).

 

[dpsk3000]

SC changed their T&Cs for the normal (non-marathon) promo, bonus interest to be paid by 20th of following month as well. They must be learning from other banks.

when did they change?

for oct trench, normal is still end of month.
only that marathon gimmick is 20th.

do you have the link to this change?

 

[dpsk3000]

we're just used to receiving the bonus interest on the same day as base interest (last day of month).

as per their new tnc... they can 'delay' their crediting of BI till 20th of the following month.

so LL have to wait. no reason to panic (yet).

that is 20 days of gap. thinking to move to other banks... does anyone thinking of that.
really tired of these gimmicks that last 2-3 mths.

 

[jasonsouza77]

been checking daily since oct31 for the bonus interest but till today still nothing. any1 recd bonus interest for october yet?

 

[jasonsouza77]

any1 called stanchart hotline regarding the bonus interest?

 

[weng0202]

Haven't received bonus interest as well.

 

[jaykay11]

The terms and conditions for both marathon $aver and "normal" esaver state that
"The Bonus interest shall be credited to your Qualifying Account(s) in single or multiple credit transactions by the 20th calendar date of the following month..."
It is in pdf form under "Terms and conditions" (bottom of the page - https://www.sc.com/sg/save/savings-accounts/esaver)
For the record, I have received base interest only.

 

[vsvs24]

SC changed their T&Cs for the normal (non-marathon) promo, bonus interest to be paid by 20th of following month as well. They must be learning from other banks.

They probably align all to 20th because every month will have people on invite say bonus interest don't tie instead of waiting till 20th for exclusive bonus.

The same will happen for Marathon.

So they align all bonus interest.

 

[daranic]

I wonder if they have enhanced their program to ensure fresh fund is from non-SCB hence the extra time needed to credit the bonus interest. That is to sieve out those merry go round cases within SCB.

 

[dpsk3000]

any1 called stanchart hotline regarding the bonus interest?

apparently based on what the CS said, ALOT of people call them. the way they replied are so robotic now that it seems alot customers are bugging them. it is extremely disheartening to see banks doing gimmick on deposits just to change the rules in terms of 'bonus interest'.

I am extremely paranoid with them as they have screwed up before.

anyone experience crawl back of interest about 2 months ago? that was another boo boo with SCB. they mentioned there is email and sms notice, I didnt received it.

 

[dpsk3000]

They probably align all to 20th because every month will have people on invite say bonus interest don't tie instead of waiting till 20th for exclusive bonus.

The same will happen for Marathon.

So they align all bonus interest.

the problem is the flipflop to same 20th release of interest. if that is the case, why need marathon gimmick?

if you have substantial sum of saving in there, until 20th of month to go on without any incoming interest payment.

that is no good.

why can they just plain old simple state the interest rate and dont play this kind of effective interest rate game.

 

[sglandscape]

apparently based on what the CS said, ALOT of people call them. the way they replied are so robotic now that it seems alot customers are bugging them. it is extremely disheartening to see banks doing gimmick on deposits just to change the rules in terms of 'bonus interest'.

I am extremely paranoid with them as they have screwed up before.

anyone experience crawl back of interest about 2 months ago? that was another boo boo with SCB. they mentioned there is email and sms notice, I didnt received it.

The claw back was due to an error, they overpaid. In the many years of playing scb esaver their tnc is one of the easiest to understand, need to be mindful of that 1-2 clauses can already.

For those people who struggle with SCB ESaver, best to stick with the Maribank/GXS base interest kind of product to not be surprised.

 

[sglandscape]

the problem is the flipflop to same 20th release of interest. if that is the case, why need marathon gimmick?

if you have substantial sum of saving in there, until 20th of month to go on without any incoming interest payment.

that is no good.

why can they just plain old simple state the interest rate and dont play this kind of effective interest rate game.

You can choose not to participate. The reason for the delay in interst is likely their system cannot compute it for the month end crediting cycle, and have a seperate job for it.

The thing maybe SCB should have done is not open marathon saver to the public (which seem to confuse the public). In the past it was special invite with 2 groups, with one group given slightly higher interest.

 

[dpsk3000]

I wonder if they have enhanced their program to ensure fresh fund is from non-SCB hence the extra time needed to credit the bonus interest. That is to sieve out those merry go round cases within SCB.

if they do that, there will be a bank run.

 

[sglandscape]

if they do that, there will be a bank run.

you have too much confidence that the retail customers have so much money to cause a bank run

 

[vsvs24]

the problem is the flipflop to same 20th release of interest. if that is the case, why need marathon gimmick?

if you have substantial sum of saving in there, until 20th of month to go on without any incoming interest payment.

that is no good.

why can they just plain old simple state the interest rate and dont play this kind of effective interest rate game.

Are you unhappy because you think you cannot withdraw your funds until 20th ?

 

[dpsk3000]

Are you unhappy because you think you cannot withdraw your funds until 20th ?

not withdrawing. its compounding.
the problem is the uncertainty. last month 1st this month 20th. next what?