Standchart eSaver

[Bigbang92]

ahh. big thanks for the explanation!

u need to be more clearer, don't understand what you mean.

Esaver lasts 2 months everytime, the last one was August and September, and both months compare it to the ADB for the month of July. So say if you opened a new account in August, your July ADB would be $0, and in August you would get the bonus interest. In September, you don't have to do anything at all as it still compares it to July.

Until this round, which is supposedly October and November, you would either have to transfer to a new eSaver account or to transfer everything out to another account for 2 months, so that in December and January, you will have a lower ADB to compare to again.

 

[neanea]

Standard chartered internet banking down!!!!

 

[haydentan]

I just received this SMS.

"<ADV> Top up your e$aver account with fresh funds and enjoy up to 1.70% p.a. interest on your eligible incremental balances from 1 Oct 2016 to 30 Nov 2016 (as compared to Sep 2016, capped at S$1mil). Visit sc.com/sg/esaver for details and full T&Cs that apply. Insured up to S$50K by SDIC. SMS NO to 77222 to unsub."

 

[haydentan]

Standard chartered internet banking down!!!!

Use mobile banking. Mine is working fine just a few seconds ago.

 

[arctician]

wow just saw your post, that would really save some time and earn more bonus interest.

think out to 3rd party bank and in again safer...better follow tnc to avoid disputes

 

[Trazora]

anyone experienced this issue or I did anything wrong? the month before I opened a new e saver and transferred over (received bonus). Last month I transferred back to original account, but there wasn't any bonus received when I just checked.

When you transferred funds over to the new esaver in Aug, you get bonus interest as all the amount transferred is considered fresh fund wrt the $0 in the reference month of Jul.

When you transferred funds back to the original esaver in Sep, you don't get bonus interest, as the reference month is still Jul and you have higher or equal average daily balance of the original esaver in jul compared to sep so none of the funds transferred is considered fresh fund for the bonus interest.

In short you should have transferred at the start of the new promotional period ie 1Aug and then now 1 Oct, and not in Sep.

 

[chiokcc]

think out to 3rd party bank and in again safer...better follow tnc to avoid disputes

This is good advice!

 

[Bigbang92]

Big thanks! I shall transfer back to the new account for this 2mths then.

When you transferred funds over to the new esaver in Aug, you get bonus interest as all the amount transferred is considered fresh fund wrt the $0 in the reference month of Jul.

When you transferred funds back to the original esaver in Sep, you don't get bonus interest, as the reference month is still Jul and you have higher or equal average daily balance of the original esaver in jul compared to sep so none of the funds transferred is considered fresh fund for the bonus interest.

In short you should have transferred at the start of the new promotional period ie 1Aug and then now 1 Oct, and not in Sep.

 

[zoossh]

Means it is better than fixed deposit right?

better than short term fixed deposit.

those longer periods can have better interest rate than 1.7. if u treasure higher interest, and that amount of interest outweigh the possibility of interest rise in future, and that u r definite that u wont need urgent cash in that period, than there are people still going for fd. another group of ppl may also prefer fd cos less hassle.

 

[havetheveryfun]

Is your RM active in helping your queries? Mine cannot be bothered when I asked about esaver.

I don't even know who is my SCB RM.. how to find mine?

 

[sgdividends]

Forget about RM..my RM keep asking me to buy corporate bonds Heng I didn't follow...then later ask me to buy some equity linked notes....always is ask to buy buy buy....I called the bank to tell them pls no RM link to me ..but they say can't ..

Very stress to have RM as when they do something for u...u have this feeling of obligation

 

[hwarzoner]

wohoo.. I just applied another eSaver account online, and it took less than just 5 minutes.. don't even need approval or what, instant.. don't know why people say they have problems with it.

yes is very straight forward

 

[tmkedmw]

I don't even know who is my SCB RM.. how to find mine?

Call scb priority hotline and ask the CSO to get your RM to call u.

 

[vince123123]

I would say my RM is good enough for me. It sometimes take a bit of time to get a response, but max is 1-2 days. Nevertheless, the RM is useful for getting "inside advance info" like on eSaver as they will know slightly earlier than the official release. I suppose RMs are humans and they vary.

Is your RM active in helping your queries? Mine cannot be bothered when I asked about esaver.

The difficulty is because I already have an eSaver joint, so apparently you cannot open another one online in such a situation. Bank system problem.

wohoo.. I just applied another eSaver account online, and it took less than just 5 minutes.. don't even need approval or what, instant.. don't know why people say they have problems with it.

 

[hwarzoner]

think out to 3rd party bank and in again safer...better follow tnc to avoid disputes

ok maybe try a little bit

 

[keep_rolling]

hi all,

i had opened a new esaver account in aug and i received the bonus interest rate in aug and sep.

now that the promotion is over, and i dont have any more fresh funds to deposit, what do i do? shall i withdraw all the money and re-deposit later in december for the promotion period dec-jan, right?

meanwhile, is there any other way to get more interest rate from this esaver, because withdrawing and re-depositing the same amount wont work, right?

edit: also, is it worth keeping 1000sgd in the account to satisfy the min balance requirement, or better to just leave the account with zero balance?

 

[maumu]

hi all,

i had opened a new esaver account in aug and i received the bonus interest rate in aug and sep.

now that the promotion is over, and i dont have any more fresh funds to deposit, what do i do? shall i withdraw all the money and re-deposit later in december for the promotion period dec-jan, right?

meanwhile, is there any other way to get more interest rate from this esaver, because withdrawing and re-depositing the same amount wont work, right?

you don't need fresh funds. basically this is what you need to do:

1. e-transfer all the amount in the account, leaving $1k, to another bank. if you're a priority banking member, then you can e-transfer all, leaving behind $0.
2. create a new esaver account.
3. transfer the amount you e-transfer earlier, back to this new esaver account.

your old esaver account will just become 'normal' while the new esaver account with the 'new' funds will earn the extra interest.

yup, it's that simple apparently.

 

[hwarzoner]

compared to ADB of Nov for period 01 Dec to 31 Jan 2017
compared to ADB of Sep for period 01 Oct to 30 Nov 2016
compared to ADB of Jul for period 01 Aug to 30 Sep 2016
compared to ADB of May for period 01 Jun to 31 Jul 2016

 

[Maeda_Toshiie]

you don't need fresh funds. basically this is what you need to do:

1. e-transfer all the amount in the account, leaving $1k, to another bank. if you're a priority banking member, then you can e-transfer all, leaving behind $0.
2. create a new esaver account.
3. transfer the amount you e-transfer earlier, back to this new esaver account.

your old esaver account will just become 'normal' while the new esaver account with the 'new' funds will earn the extra interest.

yup, it's that simple apparently.

So try and let me get this tactic:

You have two accounts, Acc1 and Acc2.

Acc1: $x + $1000
Acc2: $1000

I transfer $x from from Acc1 to Acc2 and I get the extra % interest on $x for 2 months.

Acc1: $1000
Acc2: $x + $1000

2 months later, when there is a new promotion, I transfer $x from Acc2 to Acc1 I get the extra % interest on $x for the next 2 months.

Tio boh?

 

[Flex11]

any bros here know how to check our Sept Average Daily Balance? Can check through their IB?