Standchart eSaver

[chiokcc]

Why bother spending. just go to the ATM and select Nets Flashpay>Refund to Account. It will flash the card, zap all the money from it and credit to your account of choice.

Done that many times

I went to check the Flashpay refund at ATM. It says the card will cease to be valid after refund.

Am I correct that once I choose refund, the card cannot be used?

 

[Average]

SCB esavers thread.

Sent from your next door using GAGT

 

[more3cm]

https://www.sc.com/sg/save/saving-esaver.html

Interest rate up! Huat ah!

 

[Perisher]

https://www.sc.com/sg/save/saving-esaver.html

Interest rate up! Huat ah!

Ya, noticed that this morning too. Huat arh.

 

[sgdividends]

you must deposit fresh funds into your Qualifying Account(s) during the Promotion Period. For the purposes of these terms and conditions, "fresh
funds" are funds that do not originate from any existing account with the Bank or funds that are not withdrawn and re-deposited within 30 days of
the Promotion Period; an

WHat does the bold mean?
If i have 100k during the promotion period, i withdraw 10 K into other bank and then i put back 10 K into the esaver, the available balance is still 100K, but does it mean that the interest is based on 90K now since 10K was redrawn and redeposited?

 

[Perisher]

you must deposit fresh funds into your Qualifying Account(s) during the Promotion Period. For the purposes of these terms and conditions, "fresh
funds" are funds that do not originate from any existing account with the Bank or funds that are not withdrawn and re-deposited within 30 days of
the Promotion Period; an

WHat does the bold mean?
If i have 100k during the promotion period, i withdraw 10 K into other bank and then i put back 10 K into the esaver, the available balance is still 100K, but does it mean that the interest is based on 90K now since 10K was redrawn and redeposited?

They use Average Daily Balance(ADB).

Example, for november you have $0, on Dec 1 you have 100k, dec 2nd you took out 10k, dec 3rd you put back 10k. Not to worry... it doesn't matter because they only count the ADB. So you would get interest on 99k+/-

Their disclaimer is more for those that already have 100k in Nov, took out on dec 1st and then put back again on dec 2nd. Then 100k all won't get bonus interest.

 

[havetheveryfun]

FAST transfers from other banks counted as fresh funds ?

 

[sgdividends]

Their disclaimer is more for those that already have 100k in Nov, took out on dec 1st and then put back again on dec 2nd. Then 100k all won't get bonus interest.

Thanks Perisher.
Was confused as I thought the comparison with the ADB of NOV for bonus interest would have covered what u said ..thanks again

 

[sgdividends]

FAST transfers from other banks counted as fresh funds ?

Yes, its counted as fresh funds as long it's from other banks

 

[havetheveryfun]

Yes, its counted as fresh funds as long it's from other banks

but for incremental balances type of accounts, how does it work ? I read the other eSaver thread and this and it seems like :

November 2015 : $0 in my account (new)
December 2015 : $25k in my account
January 2016 : $25k (no change)

so for december I will get (1.45% * $25k) divided by 12 months for that month only ?

And then in January I actually only get the normal 0.10% for that month ?

is this correct ?

 

[sgdividends]

but for incremental balances type of accounts, how does it work ? I read the other eSaver thread and this and it seems like :

November 2015 : $0 in my account (new)
December 2015 : $25k in my account
January 2016 : $25k (no change)

so for december I will get (1.45% * $25k) divided by 12 months for that month only ?

And then in January I actually only get the normal 0.10% for that month ?

is this correct ?

Not correct

December and January u get (1.45%*25k)divided by 12 each month.

Incremental is compared to your ADB in Nov.
Since you have 0 in nov., any amount u put in Dec and Jan will bear the 1.45%pa

 

[havetheveryfun]

Not correct

December and January u get (1.45%*25k)divided by 12 each month.

Incremental is compared to your ADB in Nov.
Since you have 0 in nov., any amount u put in Dec and Jan will bear the 1.45%pa

so for december 2015 till november 2016, as long as its still 25k (its 25k throughout the year, no additional deposit), I will receive (1.45%*25k)divided by 12 each month ? then when does it revert back to 0.10% ?

 

[blengend]

Not correct

December and January u get (1.45%*25k)divided by 12 each month.

Incremental is compared to your ADB in Nov.
Since you have 0 in nov., any amount u put in Dec and Jan will bear the 1.45%pa

But for the previous cycle, Aug Sep Oct
I had $0 for Aug, but I only got bonus in Sep
For Oct I get the standard rate with no bonus

 

[sgdividends]

Only for Dec and Jan u get the higher interest, Feb will go back to low interest.

There have been many such esaver promotions.

June ,July( compare with May)
August ,September ( compare with July)
October, Nov ( compare with Sep)
Dec, Jan ( compare with nov)

So what people do is have 2 esaver under different names, put money in A for June ,July, transfer out to DBS , put money back in B in Aug, Sep , transfer out to DBS , put money in A in October, Nov , transfer out to DBS our money in B for Dec , jan..

 

[sgdividends]

So i FAST out the money from Esaver A to other bank then the next day i FAST back into my Esaver B. Can I still qualify for the 1.5% interest?

Yes, I've 2 Esaver account. Esaver B, the ADB is 1k only for nov and oct.

Sorry don't understand. Only the invremental balance compared with comparison month get the high interest

 

[sgdividends]

But for the previous cycle, Aug Sep Oct
I had $0 for Aug, but I only got bonus in Sep
For Oct I get the standard rate with no bonus

Previous promotion was for October,Nov (comparison month is sept).
October u didnt get as the comparison month is Sept.

Sep month you got for the promotion months of Aug,sep (comparision month July)

 

[havetheveryfun]

Ok , I understand now. Basically esaver will roll out different interest rates every two months

 

[Perisher]

My Esaver A fund already get the Oct-Nov promo interest. During Oct-Nov period, my Esaver B maintained at minimum sum.

In Dec promo, I FAST Esaver A fund to POSB then next day, FAST to Esaver B account.

So does my Esaver B deposit entitle the new promo interest rate?

Yes, it does, and you can keep it till end Jan before switching back to account A.

 

[sgdividends]

My Esaver A fund already get the Oct-Nov promo interest. During Oct-Nov period, my Esaver B maintained at minimum sum.

In Dec promo, I FAST Esaver A fund to POSB then next day, FAST to Esaver B account.

So does my Esaver B deposit entitle the new promo interest rate?

The amount above the minimum sum u placed in esaver B should be entitled for promo interest for Dec and jan

 

[sextoyyy]

SCB and CIMB are competitive