Standchart eSaver

[sglandscape]

anyone on the 3.5% invite only received 0.05% base interest for Aug?

I used to always received 2 portions of the interest first followed by the 3rd portion on the 20th. but this time I only received the base interest.

Are you checking this on the app or the Web version?

 

[EveMuffins]

Are you checking this on the app or the Web version?

web version.

 

[sglandscape]

web version.

Weird just checked and I got everything for up to 3.4%. If you have a special invite it'll be ok the 20th plus. Try check again on the Web?

 

[EveMuffins]

Weird just checked and I got everything for up to 3.4%. If you have a special invite it'll be ok the 20th plus. Try check again on the Web?

checked already still not credited. think I'll wait until 20th then see if they credit the 2nd and 3rd portion of the interest.

 

[maumu]

by right we should all received the 0.05% on full balance and 3.35% on incremental balance because of the current Aug-Sep 3.4% promo cycle, but I'm $0.02 short of the base 0.05% and $1.40 short of the incremental balance bonus.

anyone noticed similar for your account?

the remaining additional bonus should be credited by 20th Sep... going by past trends.

 

[reiser]

I transfer $X right after midnight on 1 Sep. Was surprise that my esaver account reflect receive on 2 Sep!! Due to 1 Sep being holiday? Was shocked... so I transfer back. Likely my receiving bank account reflect receive on 1 Sep... SCB was trying to cheat us of 1 day interest?

I just read this. And I went back to check. It’s really valued on 2 Sep. Unfortunately my StandChart account has problems adjusting the limit and I can’t transfer the amount back.

 

[AlvinDj]

MOST, if not all full fledge banks (non digibanks), doesn't value any incoming transfers on the same date if it happens to fall on a PH or Saturday..

BUT of all the banks I have tried so far, somehow I noticed only CIMB FASTSAVER values incoming transfers as same day even on PH / Sunday

 

[sglandscape]

MOST, if not all full fledge banks (non digibanks), doesn't value any incoming transfers on the same date if it happens to fall on a PH or Saturday..

BUT of all the banks I have tried so far, somehow I noticed only CIMB FASTSAVER values incoming transfers as same day even on PH / Sunday

I noticed that DBS app shows same day value but not clear if that's indeed the case since I've not crossed checked. Interesting finding on CIMB.

 

[iduncheckmail]

MOST, if not all full fledge banks (non digibanks), doesn't value any incoming transfers on the same date if it happens to fall on a PH or Saturday..

BUT of all the banks I have tried so far, somehow I noticed only CIMB FASTSAVER values incoming transfers as same day even on PH / Sunday

False .
I tested b4……. Since I have acct with almost all banks. Now is only a minority of banks don’t value sun+PH.
most do.

never try dont anyhow wack

 

[Devilsire]

MOST, if not all full fledge banks (non digibanks), doesn't value any incoming transfers on the same date if it happens to fall on a PH or Saturday..

BUT of all the banks I have tried so far, somehow I noticed only CIMB FASTSAVER values incoming transfers as same day even on PH / Sunday

i just trfed into scb, its stated

02/09/2023

FAST(OTHR) CIMB SCB 3.65 INTEREST - (VALUE DATE: 01/09/2023)

 

[CaptainWu]

Is there a way we can check the value day other than keep trying? The bank should have stated this somewhere? I search but not able to reveal any.

 

[redglue23]

4e.：For the avoidance of doubt, any deposit, withdrawal or otherwise transaction in relation to your Qualifying Account(s) that takes place on the last day of a calendar month, falling on either a Sunday, a public holiday or a bank holiday, will not be taken into consideration for the purposes of the Bank’s computation of ADB and crediting of Bonus Interest.

1 Sep 2023 being a public holiday will not fall under the above clause as it is not the the last day of the calendar month. Realized alot of ppl here have comprehension disability, just like the SCB RM who need to read like 10 over times to understand the clause. Also, I clarified with a SCB branch manager in black and white confirmation for 500K FAST transfer on public holiday. FAST transfer (supposed to be 24/7 instantaneous) is deemed to be same day transaction even on public holidays. This concurs with the entry (value date 1 Sep) for fast transfer although the posted date is 2 Sep. "Ledger Balance" is not visible to customer. His response below:

"With regards to the $500k FAST transfer on public holiday, FAST inward transfer on public holiday/ system holiday will be posted on the next business day but the amount will be included to ledger balance based on value date. EOD ledger balance is used to calculate prevailing interest and monthly ADB."

 

[sglandscape]

4e.：For the avoidance of doubt, any deposit, withdrawal or otherwise transaction in relation to your Qualifying Account(s) that takes place on the last day of a calendar month, falling on either a Sunday, a public holiday or a bank holiday, will not be taken into consideration for the purposes of the Bank’s computation of ADB and crediting of Bonus Interest.

1 Sep 2023 being a public holiday will not fall under the above clause as it is not the the last day of the calendar month. Realized alot of ppl here have comprehension disability, just like the SCB RM who need to read like 10 over times to understand the clause. Also, I clarified with a SCB branch manager in black and white confirmation for 500K FAST transfer on public holiday. FAST transfer (supposed to be 24/7 instantaneous) is deemed to be same day transaction even on public holidays. This concurs with the entry (value date 1 Sep) for fast transfer although the posted date is 2 Sep. "Ledger Balance" is not visible to customer. His response below:

"With regards to the $500k FAST transfer on public holiday, FAST inward transfer on public holiday/ system holiday will be posted on the next business day but the amount will be included to ledger balance based on value date. EOD ledger balance is used to calculate prevailing interest and monthly ADB."

The point in red seems a little strange, isn't interest computation (hence ADB) based on when it's posted? Would have to test to know, but my understanding is the date that is shown as the transaction (ie value date for SCB) is how interest would be computed for.

So say Sunday you do a FAST in, it won't count towards ADB until Monday onwards.

 

[PC-User]

Yesterday I transferred 2000 into HSBC EGA. I saw it posted it as 2 Sep. Then I test-transferred the 2000 out to digital bank GXS, which was suppose to be 24/7. Both the in and out transactions were posted as 2 Sep at HSBC.

Well, on the digital bank side, it was posted as 1 Sep. And interest also was calculated as checked today.

I mean how did that make sense?? The 2000 which was a 'pending' transaction at HSBC was already actually 'received' at GXS.

They should just get rid of those posting date, value date nonsense. Everything online should be instantaneous.

 

[AlvinDj]

False .
I tested b4……. Since I have acct with almost all banks. Now is only a minority of banks don’t value sun+PH.
most do.

never try dont anyhow wack

Duh.. I too have almost all banks otherwise why would I claim so?

 

[vsvs24]

Fast transfer is immediate and 24/7. Receiving bank will always receive immediately.

What differs amongst banks is the cutoff and the dates they use to calculate interest.

 

[calvin200]

anyone on the 3.5% invite only received 0.05% base interest for Aug?

I used to always received 2 portions of the interest first followed by the 3rd portion on the 20th. but this time I only received the base interest.

Same here, I have only received 0.05% dated 31 Aug on both mobile and web version of online banking.

I am on this by invitation 3.55% promotion from July till 30th September.

 

[EveMuffins]

Same here, I have only received 0.05% dated 31 Aug on both mobile and web version of online banking.
I am on this by invitation 3.55% promotion from July till 30th September.

tks..guess they changed the payout method? I'll update on the 20th if I received the rest.

 

[maumu]

Same here, I have only received 0.05% dated 31 Aug on both mobile and web version of online banking.

I am on this by invitation 3.55% promotion from July till 30th September.

I'm on the same promo - until end September, 3.55% (0.05% base + 3.5% bonus).

you didn't receive the additional BI meh? I received both base interest (0.05%) and additional BI although the BI didn't quite match the 3.5% which I suspect is only around 3.35% due to the current public promo cycle (Aug/Sep) which is @ 3.4%. I expect to receive the 'balance' BI around 20 Sep which is the same method as previous promos (invited only).

 

[sglandscape]

I'm on the same promo - until end September, 3.55% (0.05% base + 3.5% bonus).

you didn't receive the additional BI meh? I received both base interest (0.05%) and additional BI although the BI didn't quite match the 3.5% which I suspect is only around 3.35% due to the current public promo cycle (Aug/Sep) which is @ 3.4%. I expect to receive the 'balance' BI around 20 Sep which is the same method as previous promos (invited only).

Could be due to incemental balance difference based on the reference month. But don't worry should get it by 20th.

The base rate + end of month BI is based on the tnc for everyone (follow the tnc for incemental balance for whichever reference month), if yours is by special invite it would be topped up on 20th.