Precisely I understand the flow. Say I got 100K for July I transfer all out. If I put back this 100K they won't get the 1.5% which means I need to put in 100K + X and only that X get the 1.5%
Yeah so there is no way to continuously keep the full funds in the eSaver and enjoy the promo rates, have to move out your money for a month or two.
Reader post "merry go round to freshen it" so I thought he knows a way so was asking him for tips to share if you follow my replies to his post.
there is way, in the past it was easier to create 2 esavers under same account name. but now seems harder but think it is still possible. cant say too much also, it had been shared before in this thread long ago.
It is for August AND September, against July balance.
My interpretation slightly different from yours becuz there is a fine print "* “Fresh funds” means funds that do not originate from any existing account with the Bank or funds that are not withdrawn and re-deposited within 30 days of the Promotion Period."
Then why is the fine print mentioning that magic number 30 days? 30 days is only for one month correct?
This fresh funds clause is talking about funds that you are transferring from another Stanchart account into the eSaver account. So long as you make it clear that you are transferring into the eSaver from an account with another bank, it will be fine. You are too obsessed with their T&Cs.
It is ok I have done calculation I will still get more if I stick to CIMB fastsaver for the first 75K from Sep onwards and that is lesser headache compared to SC eSaver T&C. I am just curious how SC eSaver works just in case later I change my mind can go back in. For Aug this month basically no chance to get that 1.5% for me.
I opened a new eSaver account today and was told that if I transferred the funds out and back in again within 30 days, it will not be considered.
Yeah but you wouldn't need to do that right? Since your comparable balance is $0. Any money you have in the account will get bonus interest.
Thanks lzydata. However, I was thinking of withdrawing some funds to apply for the 5-year SGS bond and if it gets refunded, I will deposit it back into eSaver. So, under this scenario, you would not earn any bonus on the funds returned. So, I think eSaver bonus interest is more strict compared to other savings account like HSBC EGA, CIMB Starsaver (previously for months May - Jun). I thought I'd share. Thanks.
Just to confirm my understanding.. New to this eSaver account
Correct for Aug and Sep. On 1st Oct you probably should withdraw all out (except the minimum balance) to prepare for the next round of promo
For example, in October, they may have the same promo but on incremental balances compared to August average daily balance, then you wouldn't qualify (with the same money). Then in November, if they have the same promo on October average daily balance, that works out well for you. But when they have these future rounds is not fixed.Well, here is my experience with eSaver to share with you, as I have held this account and taken part in many rounds of this promo. I have also put in incremental funds and had to withdraw part of them for needs like yours. In 1 month, 1 transfer in, partial transfer out. The bonus interest is accessed on each day's balance and credited at the end of the month. Not once did I lose out on the bonus interest, and I counted it carefully.
Where can I find this info? Doesn't seem to be available from their web site..
By Invitation. If you are invited, you should have the notification in your app Inbox. Previously they used to follow up via email a couple of days later. I have yet to receive the email though.
