Standchart eSaver

[hyperbole]

I'm in the same boat with you... Looks like we are those unlucky guys...

LOL. Wasted like 30 min on the phone before they refund me and still kena "warning" that they are only refunding out of goodwill and I need to keep min balance from now on

 

[hyperbole]

Ya this part is misleading.
They might as well have stated $1k average daily balance from 1 Aug instead.

I suspect they did it intentionally because it was stated on their website 1 aug before they officially sent out the letters to amend to 28 aug.

Probably thought they could explain their way and crush you with banking jargon and get lots of free $5.

 

[Perisher]

You can chill cos you probably weren't the first to call in. They insisted it was my fault I didn't understand their definition of avg daily balance.

I can't chill because it's not about the $5. It's about the sheer number of $5 they could extract from people who either didn't challenge their argument like I did or didn't even check their statements

I meant chill here.
I didn't call in actually because it's only 1cent. I messaged them.

I get where you are coming from. I usually would call in to ask for refund if it's a bigger sum than 1cent too.

Would have done what you did if no satisfactory answer is given.

 

[hwarzoner]

Why i keeping Esaver because the flexible of withdrawn in case of urgent need of fund while at the same time getting FD rate of 1.3 -1.4%.

going to open my first esaver acct.

 

[hogrider88]

LOL. Wasted like 30 min on the phone before they refund me and still kena "warning" that they are only refunding out of goodwill and I need to keep min balance from now on

Same, the ah neh girl also wanna say its my fault. I say ur tnc states 28th aug onwards one wth r u talking abt? She say it actually effect from 1 aug or whatever la. i also hv to raise a little bit of my voice n mention the word "unfair" then she put me on hold before refunding..

Scb singpost so much problem during 1st jul, this one also.. Wanna change policy shd first test their own system abit.. Learn frm ocbc.. Change policy no mercy one

 

[K|muRa^84]

already shared my method so dont have to deal with CSO and have ur BP increase

 

[iCuteCube]

You didn't get him. He meant to avoid inactivity in the account so the $10 is deposit for 1 second and withdrawn immediately. Do that every 6 month.

I don't think it will work. The fall below fee may not have gone negative for this time only, next month maybe it will start to go negative. Anyone willing to try?

It will not work, it is same across all banks.
It will go negative of ADB (Average Daily Balance) for that month is $1000 below they will deduct S$5 which become negative $5.

ADB is calculated per day basics, either start or end of the day.
i.e.
Day 1 $1000
Day 2 $3000
Day 3 $0
Day 4 $0

$4000 / 4 = $1000 = Got hit ADB of $1000, no charge, (example).

If it go negative, any deposit will become deposit.
I.e. Negative $5, you deposit $50 , the balance will be $45 instead of $50.

The bank will never do lugi business one.

 

[kenpachi82]

instead of going through all these shenanigans, i simply closed my esaver (use dash acct instead) and brought my (small) business to another bank.
chill out everyone

 

[hyperbole]

instead of going through all these shenanigans, i simply closed my esaver (use dash acct instead) and brought my (small) business to another bank.
chill out everyone

Which bank did you go to?

 

[starbugs]

I also just kena this fall below fee without any warning.

Called and asked for a reversal. Got it, but the CSO refused to let me close the account over the phone. Said even if there is $0 balance, every month the account will have a $5 deducted into negative balance. KNN.

Spoke to their manager before I was allowed to close the account. Scumbag Chartered Bank.

 

[edwinttt1978]

Other than a min $1k, there is also a 1.15% pa for incremental balance till 30 Sep. Why not put in funds earlier?

 

[kitkat2]

Other than a min $1k, there is also a 1.15% pa for incremental balance till 30 Sep. Why not put in funds earlier?

perhaps some poeple already made use of the bonus interest in the month July...

 

[edwinttt1978]

perhaps some poeple already made use of the bonus interest in the month July...

No wonder.

 

[dexboi]

I would love to see how a deposit account would go below $0. lmao.

 

[starbugs]

I would love to see how a deposit account would go below $0. lmao.

That was exactly what the SCB CSO said.

 

[hwarzoner]

it is possible if one never closed the account and keep accumulating fees.

 

[hyperbole]

I would love to see how a deposit account would go below $0. lmao.

Close it if you're not gonna use it. You never know if any funds go in will be automatically swallowed by this fall below fee. I doubt it will actually reflect as negative balance, but if one day you decided to put in some money after dunno how many months, you just may see it become zero balance

 

[kitkat2]

I would love to see how a deposit account would go below $0. lmao.

they can claw back from your other account?

 

[Shahmatt]

Is it worthwhile keeping this account open?

These days my money is kept in the OCBC 360 account.

Not sure if there is any value in maintaining the minimum fall below balance. A bit disappointed that they can change the rules like that. My old DBS account still maintains the fall below rule of $500, despite new accounts having a fall below rule of $1000.

 

[more3cm]

Is it worthwhile keeping this account open?

These days my money is kept in the OCBC 360 account.

I alternate 360 with eSaver for the former's 1% save bonus... also can "wash" the funds to become fresh for the latter