Standchart eSaver

[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..

 

[peppermint7]

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.

I believe so cos it is true you indeed hold wealth holding based on their tnc. I only intend to transfer my funds in start July but i may be placing an order for equity this month. So long i have something in there they can't deny me from having higher interest.

 

[peppermint7]

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

They only serve their own needs. Not customer's needs. But what to do? So long they offer higher than market interest rate i have to suck it up and move on.

 

[maumu]

are y'all playing this because of the extra 0.x% for "wealth holdings" or using it to qualify for the invest category under bonus saver?

 

[peppermint7]

are y'all playing this because of the extra 0.x% for "wealth holdings" or using it to qualify for the invest category under bonus saver?

Myself is to buy and park there for extra 0.x% for "wealth holdings"

 

[maumu]

Myself is to buy and park there for extra 0.x% for "wealth holdings"

is it worth all the work for the extra?

was thinking may as well park in bonus saver for +2.5% if want to go this route...

 

[GrandJedi]

is it worth all the work for the extra?

was thinking may as well park in bonus saver for +2.5% if want to go this route...

Bonus Saver you need to a minimum of $20k? But eSaver with Wealth holdings, you dont need to have that minimum investment requirement.

 

[peppermint7]

Bonus Saver you need to a minimum of $20k? But eSaver with Wealth holdings, you dont need to have that minimum investment requirement.

Got to clock 1k spend also not suitable for me.

 

[maumu]

Got to clock 1k spend also not suitable for me.

salary credit + invest = 1.5% + 2.5%?

seems like still manageable without cc spend...

the 20k funds can sell the next month and BI can still collect for 6 mths.

 

[peppermint7]

salary credit + invest = 1.5% + 2.5%?

seems like still manageable without cc spend...

the 20k funds can sell the next month and BI can still collect for 6 mths.

Thanks for the heads up!

 

[CrashWire]

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.

The balance will disappear once your buy transaction has settled. For US markets, that is T+1.

 

[GrandJedi]

salary credit + invest = 1.5% + 2.5%?

seems like still manageable without cc spend...

the 20k funds can sell the next month and BI can still collect for 6 mths.

Hmm... sounds good... Salary credit can be just $3k FAST transfer under "SALA". 4% is a lot more than eSaver. (If Priority, no fall below balance fee). Also for Bonus$aver, there is not fresh funds requirement (no need to merry go round). Am I correct in these assumptions? Did I miss anything?

For the investment category, what happens after 6 month? Need to purchase a minimum investment of $20k again?

 

[maumu]

Hmm... sounds good... Salary credit can be just $3k FAST transfer under "SALA". 4% is a lot more than eSaver. (If Priority, no fall below balance fee). Also for Bonus$aver, there is not fresh funds requirement (no need to merry go round). Am I correct in these assumptions?

For the investment category, what happens after 6 month? Need to purchase a minimum investment of $20k again?

yeah, buy a new one after 6 months (and can sell the month after).

only uncertainty is how the fund will perform when you're holding it.

planning to go through this route in August when I don't foresee anymore 3.xx% available... next month still can rejoin EGA for a last hurray (provided they don't drop the '7-transactions' rate below 2%)

 

[ThreeSteps]

There is a separate discussion thread for Bonus$aver a/c : https://forums.hardwarezone.com.sg/...nterest-rate-in-town-from-scb.3607961/page-78

If need basic info about Bonus$aver promo, can refer to this posting :
https://forums.hardwarezone.com.sg/...-town-from-scb.3607961/page-75#post-156401739

 

[GrandJedi]

yeah, buy a new one after 6 months (and can sell the month after).

only uncertainty is how the fund will perform when you're holding it.

planning to go through this route in August when I don't foresee anymore 3.xx% available... next month still can rejoin EGA for a last hurray (provided they don't drop the '7-transactions' rate below 2%)

remember bonus interest is capped for <$100k