Standchart eSaver

[peppermint7]

Yes you are right. 1st time come across such trouble opening equity, bonus saver and esaver accts. Bank accts open at branch shd b instant, nvr thot need wait for days.. equity acct maybe I will give up opening if still unsuccessful after try again next week as have alrdy other trading accts. First few times called hotline was v frustrating unable to get to speak anyone as I think it is set up to deter ppl from calling again. Only after Google see Facebook comments then I find 'correct method', unlike other banks hotline which is much easier to navigate

Indeed the process is confusing. Equity account i went through all the forms include W-8 Ben. After submit, suddenly 2 settlement acc opens one after another. I only select USD and SGD. Thereafter i try to trade but it lead me to resubmit application. Imagine i so blur go submit another 5 to 6 more times thinking i did something wrong somewhere why the account die on me as i cant even get to trade page

Until i call cs up. She told me so long i see settlement acc open means i have already open successfully. But trading ability will only be ready in like 5 days time. Then why the system don't show a prompt on that? Only email says settlement acc open but nothing about unable to trade currently. Worse is it leads you to re apply again when i click on Equities.

I thank God its all over for me. So long i get the equity acc up and ready i can just buy any share to appease the extra interest rule and I'm done with the app.

 

[Mickey01]

RM at branch says he can help me open on the spot but i must buy something that he recommends.
I guess i will not go through the trouble as i already have moomoo tiger FSMone and also the recently opened HSBC trading account to buy if i want. Just wish SC could keep it simple. I have opened all these other accounts without issue within a day. SC is an eye opener. At some point it even ask me to upload passport which i find it too over as all the others never even ask for that.

If I remember correctly, I think my colleague encountered similar issue as you last week. He was able to submit the Online Equities Trading Account Form successfully. Now waiting for backend to issue the trading account number. However, for the Unit Trust Account Form, he encountered errors no matter how many times he tried and message indicate he contact branch. My colleague called the banking hotline but was informed they will not be able to advise on matters related to securities trading. Was informed to call the SC Online Trading hotline. And so this hotline indicate this error is very common and was told to proceed to branch to settle it. Just like you, at branch, he was asked if he had any UT in mind. They can submit the Subscription/buy on the spot and the UT account will be opened immediately. My colleague also did not want to proceed as he would like to explore before committing the purchase

Quite messy actually ..............

 

[peppermint7]

If I remember correctly, I think my colleague encountered similar issue as you last week. He was able to submit the Online Equities Trading Account Form successfully. Now waiting for backend to issue the trading account number. However, for the Unit Trust Account Form, he encountered errors no matter how many times he tried and message indicate he contact branch. My colleague called the banking hotline but was informed they will not be able to advise on matters related to securities trading. Was informed to call the SC Online Trading hotline. And so this hotline indicate this error is very common and was told to proceed to branch to settle it. Just like you, at branch, he was asked if he had any UT in mind. They can submit the Subscription/buy on the spot and the UT account will be opened immediately. My colleague also did not want to proceed as he would like to explore before committing the purchase

Quite messy actually ..............

I'm amazed his experience is Exactly the same as mine except for the part where they ask him if he has any UT in mind. The RM I met told me he can only open for me if I buy from his recommendation. This is a bit too...

The whole process could be simplified. If HSBC can, why can't ST? ST branch no one can help except RM. And RMs as we know will only help by trying to sell me his products. If I don't wish to buy what he propose, I'll need to call hotline myself and go back into the round-about maze.

 

[ericcsn]

If I remember correctly, I think my colleague encountered similar issue as you last week. He was able to submit the Online Equities Trading Account Form successfully. Now waiting for backend to issue the trading account number. However, for the Unit Trust Account Form, he encountered errors no matter how many times he tried and message indicate he contact branch. My colleague called the banking hotline but was informed they will not be able to advise on matters related to securities trading. Was informed to call the SC Online Trading hotline. And so this hotline indicate this error is very common and was told to proceed to branch to settle it. Just like you, at branch, he was asked if he had any UT in mind. They can submit the Subscription/buy on the spot and the UT account will be opened immediately. My colleague also did not want to proceed as he would like to explore before committing the purchase

Quite messy actually ..............

I'm amazed his experience is Exactly the same as mine except for the part where they ask him if he has any UT in mind. The RM I met told me he can only open for me if I buy from his recommendation. This is a bit too...

The whole process could be simplified. If HSBC can, why can't ST? ST branch no one can help except RM. And RMs as we know will only help by trying to sell me his products. If I don't wish to buy what he propose, I'll need to call hotline myself and go back into the round-about maze.

Are u talking about being unable to online buy a UT product?

If so I think it is due to the declaration you made in the application.

If you state that you do not have the prerequisites - by education, work experience - nor do not engage in buying more than 6 times such similar products in the past 12 months, then I think (by MAS rules to protect you from riskier types?) you are not allowed to freely buy online on your own but instead must go through the professionals i.e. them ( and that's where they take a bigger cut off you than if you bought same UT yourselves).

See whether you can re do the declaration (if you remain keen on investing on your own on such investment products).

 

[Mickey01]

Are u talking about being unable to online buy a UT product?

If so I think it is due to the declaration you made in the application.

If you state that you do not have the prerequisites - by education, work experience - nor do not engage in buying more than 6 times such similar products in the past 12 months, then I think (by MAS rules to protect you from riskier types?) you are not allowed to freely buy online on your own but instead must go through the professionals i.e. them ( and that's where they take a bigger cut off you than if you bought same UT yourselves).

See whether you can re do the declaration (if you remain keen on investing on your own on such investment products).

nope, I don't think it is related to that CKA or SCB Investor Profile thing. He has so many other DIY online trading accounts, he should know how to answer these questions. I have a feeling it is age related. I think my colleague is above 60 years old.

After getting the error message a few times, my colleague click the APPLY NOW button (SCB Banking App and computer browser online banking) in front of me.

After clicking the APPLY NOW button, the circle hourglass will spin & spin and state "retrieving information .... blah blah blah" for a couple of seconds (may 30 secs ??) and then an error message with a reference code will be displayed and then indicate your application has been cancelled. Please contact branch.

For me, as long as I have my equities trading account I'm fine. And I do not need wealth holdings until Aug eSaver Exclusive invite (if any) and see what is the T&C

 

[peppermint7]

nope, I don't think it is related to that CKA or SCB Investor Profile thing. He has so many other DIY online trading accounts, he should know how to answer these questions. I have a feeling it is age related. I think my colleague is above 60 years old.

After getting the error message a few times, my colleague click the APPLY NOW button (SCB Banking App and computer browser online banking) in front of me.

After clicking the APPLY NOW button, the circle hourglass will spin & spin and state "retrieving information .... blah blah blah" for a couple of seconds (may 30 secs ??) and then an error message with a reference code will be displayed and then indicate your application has been cancelled. Please contact branch.

For me, as long as I have my equities trading account I'm fine. And I do not need wealth holdings until Aug eSaver Exclusive invite (if any) and see what is the T&C

For my case i stop at the very last page cos I'm fedup with the thought of why i only want to buy UT become must open bonus savers and also what these multi currencies about and why no SGD to select

I stop at last page thinking i could have somehow been filling up a wrong form. There's a prompt for me to go back to continue where i left off but i dare not proceed. That's where i started to call cs up for all the questions spinning in my head but cs ask me to call hotline all over again cos she only can advise for online trading. I ask if i go branch will there be any one able to help me. She says surely branch can help cos got expetise there.

 

[arthur64]

Share what is the correct method to get through to hotline ?

Don't know how to upload or attach.. u can google Standard Chartered Hotline then go their facebook about 5 months (To speak with...) ago, read contents inside - Many complaints on this hotline, cannot reach CS, I think cos of the procedure. Many 1 star and poor ratings as well

 

[arthur64]

Indeed the process is confusing. Equity account i went through all the forms include W-8 Ben. After submit, suddenly 2 settlement acc opens one after another. I only select USD and SGD. Thereafter i try to trade but it lead me to resubmit application. Imagine i so blur go submit another 5 to 6 more times thinking i did something wrong somewhere why the account die on me as i cant even get to trade page

Until i call cs up. She told me so long i see settlement acc open means i have already open successfully. But trading ability will only be ready in like 5 days time. Then why the system don't show a prompt on that? Only email says settlement acc open but nothing about unable to trade currently. Worse is it leads you to re apply again when i click on Equities.

I thank God its all over for me. So long i get the equity acc up and ready i can just buy any share to appease the extra interest rule and I'm done with the app.

You may not get the higher interest rate for esaver even if you buy equities or UT on their trading platform - up to their assessment and its at their discretion, unlike bonus saver wherein you need to spend 20k as specified. If your buying amount is substantial, then v high chance of getting it but no one really knows whats the criteria as of now.

Think trading ability takes up to 14 business days or 14 days, read somewhere on their web and also trading hotline guy told me when I called recently. All these CS I dont know why they cant give me temp ID and password (by email and sms), make me call thrice.. 1st call (Mon) when reach home few hours after opening told me 24-48 hours will receive, then on Wed called again after 48 hours nvr receive, told me may take up to 3 days WTH and on Thurs I called again then only they send ! I even told the CS (2nd call) "you like ppl keep calling back?" knowing that I will not receive if I dont call again. Branch staff also seems uninterested when opening acct on Mon, nvr speak a word, you need to keep asking.. When done, gave me a small piece of paper with my accounts no. handwritten on it. Ask for photocopy of doc, was told this is their internal doc WTH.. then I ask to see the forms I sign to check if the accounts no. she wrote is correct so that I can deposit $. Did tell her will register for IB and did not bother about telling all these issues or at least can provide/send me the temp ID and password on the spot so that it can save customer hassle of calling. At a loss of words when dealing with such..

 

[sglandscape]

You may not get the higher interest rate for esaver even if you buy equities or UT on their trading platform - up to their assessment and its at their discretion, unlike bonus saver wherein you need to spend 20k as specified. If your buying amount is substantial, then v high chance of getting it but no one really knows whats the criteria as of now.

Think trading ability only 14 business days or 14 days, read somewhere on their web and also trading hotline guy told me when I called recently. All these CS I dont know why they cant give me temp ID and password (by email and sms), make me call thrice.. 1st call (Mon) when reach home few hours after opening told me 24-48 hours will receive, then on Wed called again after 48 hours nvr receive, told me may take up to 3 days WTH and on Thurs I called again then only they send ! I even told the CS (2nd call) "you like ppl keep calling back?" knowing that I will not receive if I dont call again. Branch staff also seems uninterested when opening acct on Mon, nvr speak a word, you need to keep asking.. When done, gave me a small piece of paper with my accounts no. handwritten on it. Ask for photocopy of doc, was told this is their internal doc WTH.. then I ask to see the forms I sign to check if the accounts no. she wrote is correct so that I can deposit $. Did tell her will register for IB and did not bother about telling all these issues or at least can provide/send me the temp ID and password on the spot so that it can save customer hassle of calling. At a loss of words when dealing with such..

Based on tnc it's just holdings right? Would not be surprised if they require min 10k or 20k wealth holdings in the future, after getting people to sign up for all the products first to see what the take up rate is like.

 

[arthur64]

Based on tnc it's just holdings right? Would not be surprised if they require min 10k or 20k wealth holdings in the future, after getting people to sign up for all the products first to see what the take up rate is like.

I suppose so, quantum no one knows though there's a definition on wealth holding

 

[peppermint7]

You may not get the higher interest rate for esaver even if you buy equities or UT on their trading platform - up to their assessment and its at their discretion, unlike bonus saver wherein you need to spend 20k as specified. If your buying amount is substantial, then v high chance of getting it but no one really knows whats the criteria as of now.

Think trading ability takes up to 14 business days or 14 days, read somewhere on their web and also trading hotline guy told me when I called recently. All these CS I dont know why they cant give me temp ID and password (by email and sms), make me call thrice.. 1st call (Mon) when reach home few hours after opening told me 24-48 hours will receive, then on Wed called again after 48 hours nvr receive, told me may take up to 3 days WTH and on Thurs I called again then only they send ! I even told the CS (2nd call) "you like ppl keep calling back?" knowing that I will not receive if I dont call again. Branch staff also seems uninterested when opening acct on Mon, nvr speak a word, you need to keep asking.. When done, gave me a small piece of paper with my accounts no. handwritten on it. Ask for photocopy of doc, was told this is their internal doc WTH.. then I ask to see the forms I sign to check if the accounts no. she wrote is correct so that I can deposit $. Did tell her will register for IB and did not bother about telling all these issues or at least can provide/send me the temp ID and password on the spot so that it can save customer hassle of calling. At a loss of words when dealing with such..

"temp ID and password (by email and sms"

Are you referring to esaver account opening? You are not referring to equity acc opening right?

 

[yiron]

RM at branch says he can help me open on the spot but i must buy something that he recommends.
I guess i will not go through the trouble as i already have moomoo tiger FSMone and also the recently opened HSBC trading account to buy if i want. Just wish SC could keep it simple. I have opened all these other accounts without issue within a day. SC is an eye opener. At some point it even ask me to upload passport which i find it too over as all the others never even ask for that.

Huh your RM required u to purchase an investment product recommended by him before he will help you do account opening? That sounds fishy as heck and reportable to MAS...

 

[arthur64]

"temp ID and password (by email and sms"

Are you referring to esaver account opening? You are not referring to equity acc opening right?

bank acct, didn't make clear in my earlier post

 

[peppermint7]

bank acct, didn't make clear in my earlier post

My esaver was opened online when esaver first started donkey years ago. They are upfront about it being an online opening acc and will charge us fees if we were to go branch to carry out transaction. But it shouldn't be so difficult to get it open. Or mayb yours is not esaver.

As for the equity acc, i open early last week. And it is working already this weekend. So 14 days is not the norm. 5 days more like it.

 

[peppermint7]

Huh your RM required u to purchase an investment product recommended by him before he will help you do account opening? That sounds fishy as heck and reportable to MAS...

Not sure if i heard wrongly. Cos he says he can intro me a few of their UT. But i divert his attention away cos i don't want. He starts talking about Priority acc. He says min 200k. I ask if they offer higher interest but he says need to buy from what he recommended a certain sum of UT in order to fulfill some criteria to get higher interest. UT cannot ownself choose what to buy. Must choose from the pool of UT recommended by him for Priority acc.

Then i revert back to my topic. I ask if he can help me open my acc or at least guide me thru what is wrong in the process of my UT opening, after which i can go back home slowly check through the app and decide which UT i want buy. he says he can't help. He can only help if i on the spot place UT Order there and then. So i switch off and balik kampong.

 

[peppermint7]

Based on tnc it's just holdings right? Would not be surprised if they require min 10k or 20k wealth holdings in the future, after getting people to sign up for all the products first to see what the take up rate is like.

I agree with what you say but i don't think they dare set the mark so high. Priority acc i believe they can set 10 to 20k but for Personal most likely only 1k. Let's see.

 

[Mickey01]

I agree with what you say but i don't think they dare set the mark so high. Priority acc i believe they can set 10 to 20k but for Personal most likely only 1k. Let's see.

end of this month, we will be able to compare their pattern - Jun2025/Jul2025 public eSaver T&Cs (with wealth holdings) vs Jul 2025 Exclusive Invite T&C

 

[Mickey01]

Not sure if i heard wrongly. Cos he says he can intro me a few of their UT. But i divert his attention away cos i don't want. He starts talking about Priority acc. He says min 200k. I ask if they offer higher interest but he says need to buy from what he recommended a certain sum of UT in order to fulfill some criteria to get higher interest. UT cannot ownself choose what to buy. Must choose from the pool of UT recommended by him for Priority acc.

Then i revert back to my topic. I ask if he can help me open my acc or at least guide me thru what is wrong in the process of my UT opening, after which i can go back home slowly check through the app and decide which UT i want buy. he says he can't help. He can only help if i on the spot place UT Order there and then. So i switch off and balik kampong.

I think there are some internal SCB bank promotions going on for selling certain "recommended" funds. This happens all the time even with other banks, like sometimes you walk into a branch wanting to place FD, the staff will "recommend" an alternative product

 

[GrandJedi]

SCB's online trading platform is quite messed up.

I wonder if I have a balance in my Securites Settlement Account, it means I have the fulilled the "wealth holding" criteria? The online platform shows that I have bought and own 100 shares of Equity A worth $350, but my Securities Settlement Account still reflects $350 in it.

“Customers with wealth holdings” are defined as customers who hold either an Eligible Investment Product or Insurance Product purchased through the bank. An “Eligible Investment Product” refers to (i) Unit Trust(s), (ii) Bonds, (iii) Structured Notes, or (iv) Equities.

 

[peppermint7]

Important Notice: With effect from 29 June 2025, access SC Online Trading via SC Mobile app or Online Banking for greater convenience with the discontinuation of the SC Mobile Trading standalone app. If you have any queries, please contact our hotline at +65 6242 5333 (Mon to Fri, 8am to 5am).

Just in case anyone didn't notice this announcement..