Standchart eSaver

[Byfrost]

Short version:

Why 2 ESaver acounts.

First promo -> everything into acc1

First promo ends -> everything out to non SCB account (just in case)

Second promo -> everything into acc2 [If transfer back to acc1, Standard Chartered will follow the previous month ADB to determine my incremental fresh funds. Hence acc2 has only $1k inside in the last month for the fall below fee safety net so I enjoy more "incremental balance" bonus interest]

Second promo ends -> everything out to non SCB account (just in case)

Third promo -> everything into acc1 [If transfer back to acc2, Standard Chartered will follow the previous month ADB to determine my incremental balance. Hence acc2 has only $1k inside in the last month for the fall below fee safety net so I enjoy more "incremental balance" bonus interest.

Third promo ends -> everything out to non SCB account
...
Rinse and repeat.

If you don't want to use 2 ESaver accounts, use CIMB as the alternate account to wait out the first month of the promo.

Thanks and understood. Hence the idea is to ensure that alternate eSaver accounts have as low min balance as possible every alternate months so I get to enjoy more "incremental Balances" as compared to previous month ADB.

To enable me to understand this logic, please see above my reply in bold to make sure I know why am I doing this.

 

[Frostmourne1987]

actually you can just transfer everything, no need to leave $1000/- behind in acc1. i dun think scb will deduct your fall below fee from acc2 if acc1 is zero right?

 

[Byfrost]

actually you can just transfer everything, no need to leave $1000/- behind in acc1. i dun think scb will deduct your fall below fee from acc2 if acc1 is zero right?

True.

Was thinking of transferring to CIMB FastSaver account (1.0% interest). As my total amount of cash to earn this interest is less than $50k. On the safe side, I probably will leave 1K in the CIMB account (still can earn 1% anyway as long as ADB is 1K) and 1K in the SCB eSaver account (aiyah, don't so bad leave $0 later kenna marked by the bank not nice leh.)

 

[Mecisteus]

actually you can just transfer everything, no need to leave $1000/- behind in acc1. i dun think scb will deduct your fall below fee from acc2 if acc1 is zero right?

I think someone mentioned can leave $0. But to be safe, I just leave $1k. There is very little opportunity cost on this $1k.

 

[unhinged_loon]

Thanks and understood. Hence the idea is to ensure that alternate eSaver accounts have as low min balance as possible every alternate months so I get to enjoy more "incremental Balances" as compared to previous month ADB.

To enable me to understand this logic, please see above my reply in bold to make sure I know why am I doing this.

Yeah, I leave the $1000 behind to avoid the fall below fee.

 

[Byfrost]

Anyway quick question;

This eSaver account has no ATM card? The branch people say if I want ATM card need to apply BonusSaver instead.

 

[ark123]

Anyway quick question;

This eSaver account has no ATM card? The branch people say if I want ATM card need to apply BonusSaver instead.

Just do fast transfer to atm card account...

 

[znltan]

Anyway quick question;

This eSaver account has no ATM card? The branch people say if I want ATM card need to apply BonusSaver instead.

Link any existing SCB credit card owned to the eSaver account and it will function as an atm card.

Sent from 瑞特斯波德 using GAGT

 

[mdax23]

Link any existing SCB credit card owned to the eSaver account and it will function as an atm card.

Sent from 瑞特斯波德 using GAGT

Ah esaver can ar, later becum credit card withdrawal.

 

[Byfrost]

Link any existing SCB credit card owned to the eSaver account and it will function as an atm card.

Sent from 瑞特斯波德 using GAGT

Ah esaver can ar, later becum credit card withdrawal.

I went to ask at Standard Chartered branch. The lady say cannot link Credit Card to eSaver account.

Because I asked I saw that Standard Chartered Credit Card got NETS function. So I was wondering can link my Standard Chartered Credit Card to the eSaver account as ATM card.

So how can or not?

Stand Chart website says over the counter transaction is $5 charge. Branch people say come to branch and withdraw no charges.

I would prefer to have a ATM card just in case. Not that I really need it. It's a good to have.

 

[Byfrost]

Ah esaver can ar, later becum credit card withdrawal.

Yah the person say cannot link. Then the NETS function for what? NETS = debit from savings account like POSB / DBS NETS card.

 

[Trazora]

Should ask them check if can link to the ATM5 function, Nets is for retail spend

 

[heng_ah]

Yah the person say cannot link. Then the NETS function for what? NETS = debit from savings account like POSB / DBS NETS card.

Can, done it before.
That person must be blur lah.
Otherwise ask CSO to send atm linkage form to your home address.

 

[Byfrost]

Should ask them check if can link to the ATM5 function, Nets is for retail spend

Can, done it before.
That person must be blur lah.
Otherwise ask CSO to send atm linkage form to your home address.

I see... No wonder lo.. Pai Seh ah ask so many question. First time opening account with a foreign bank. Quite different from our local DBS, UOB or OCBC

Thanks and understood. I always confuse NETS (for retail spending) and ATM cash withdrawal to be the exact same function / feature. Once you have NETS function = You have ATM function and vice versa. Because both feature are linked to your Savings Account.

So just to confirm, a Standard Chartered Credit Card (was thinking of applying the New Unlimited Credit Card) can do the following:

1) Can link to eSaver account as ATM card for cash withdrawal under the ATM5 network; and

2) Can link to eSaver account with NETS for retail spending.

Correct?

 

[znltan]

I see... No wonder lo.. Pai Seh ah ask so many question. First time opening account with a foreign bank. Quite different from our local DBS, UOB or OCBC

Thanks and understood. I always confuse NETS (for retail spending) and ATM cash withdrawal to be the exact same function / feature. Once you have NETS function = You have ATM function and vice versa. Because both feature are linked to your Savings Account.

So just to confirm, a Standard Chartered Credit Card (was thinking of applying the New Unlimited Credit Card) can do the following:

1) Can link to eSaver account as ATM card for cash withdrawal under the ATM5 network; and

2) Can link to eSaver account with NETS for retail spending.

Correct?

1) Yes.
2) Did not try it out personally but should be able to.

Anyone tried out Qn. 2? Maybe can share their experiences.

Sent from 瑞特斯波德 using GAGT

 

[hwarzoner]

finally can link my cc card to my esaver thank you guys

 

[crystalnox]

I see... No wonder lo.. Pai Seh ah ask so many question. First time opening account with a foreign bank. Quite different from our local DBS, UOB or OCBC

Thanks and understood. I always confuse NETS (for retail spending) and ATM cash withdrawal to be the exact same function / feature. Once you have NETS function = You have ATM function and vice versa. Because both feature are linked to your Savings Account.

So just to confirm, a Standard Chartered Credit Card (was thinking of applying the New Unlimited Credit Card) can do the following:

1) Can link to eSaver account as ATM card for cash withdrawal under the ATM5 network; and

2) Can link to eSaver account with NETS for retail spending.

Correct?

Yes, can use for NETS too once you link it to your a/c.

 

[Byfrost]

1) Yes.
2) Did not try it out personally but should be able to.

Anyone tried out Qn. 2? Maybe can share their experiences.

Sent from 瑞特斯波德 using GAGT

Yes, can use for NETS too once you link it to your a/c.

Thank you so much for the replies!

 

[KiraYamatoX]

how to link the cc to savings account? can link to dash savings account?

 

[Byfrost]

how to link the cc to savings account? can link to dash savings account?

Go down to branch I guess?

I have yet to open a Stand Chart account but based on logic, I linked my DBS Credit Card to my DBS Savings account at the branch.