Standchart eSaver

[calvin200]

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

I checked with my RM.

"Bonus Interest Payment" credited on the last day of the month is calculated based on Incremental ADB.

For the By Invitation promotion which interest calculation is based on Full ADB, remainder of bonus interest will be credited under tranche 2 by the following month (20th) with narration "Exclusive Bonus Interest".

In my case, the ADB in August is less than July hence no Bonus Interest Payment credited on 31 Aug. However, Exclusive Bonus Interest calculated based on Full ADB will be credited by 20th September.

 

[maumu]

it has been this way of disbursing the bonus interest for Standard Chartered for the past many cycles... for those on exclusive invites to the extra bonus rates.

gotta wait till 20th of the month to tally up everything

 

[damnit]

It is all part of risk management, ML monitoring and control. Better to lose a "risky" customer than lose their own reputation/money if fined by MAS.

Banks are not required to provide any reasons. Especially if related to ML.

If yours is not related to ML, maybe they act to protect you cos your account might had been "attacked". It is all for your own good and theirs too.

If you had monies in the account, will you lose it? If related to ML, possible.

Those who were found to be 'cheating' the bank, is another possibility. Some people shared here how their accounts were banned. You can google for those sharing in this forum.

I see all these postings here as +ve about SCB, protecting good customers.

I used to work in bank as ML/compliance VP so I understand these processes and know why they are needed as part of consumer protection. But locking up an account (especially if there is life savings involved) for 60 days is wrong.

 

[royalmix]

I used to work in bank as ML/compliance VP so I understand these processes and know why they are needed as part of consumer protection. But locking up an account (especially if there is life savings involved) for 60 days is wrong.

Luckily they did it to a zero account, those with life savings should appeal thru the police as they have informed you? So there is still a way out, but need to wake up the authorities?

 

[Hwsemb]

So far has any brokerage freeze users account? Otherwise, it seems beneficial to keep liquid funds with brokers, such as low risk MMF cash funds. But of course, will still need 1-2 workdays to redeem them, in the event main bank account got frozen/suspended.

 

[sohguanh]

So far has any brokerage freeze users account? Otherwise, it seems beneficial to keep liquid funds with brokers, such as low risk MMF cash funds. But of course, will still need 1-2 workdays to redeem them, in the event main bank account got frozen/suspended.

I always preach diversification. So just diversify and open many broker account, bank account etc. But the con of such approach is how you keep track of all of them? This is indeed a headache as years go by. Some close shop some never close and give birth more subsidiary etc etc.

 

[royalmix]

So far has any brokerage freeze users account? Otherwise, it seems beneficial to keep liquid funds with brokers, such as low risk MMF cash funds. But of course, will still need 1-2 workdays to redeem them, in the event main bank account got frozen/suspended.

I am a good customer/citizen, I trust most of the banks established here. Brokers got frozen before, you lose your monies?

 

[paurusu]

Why in the world the discussion about bank/bank freezing accounts while we are talking about eSaver topic here?
Each compliance case has different angles to look at - what is the point to debate without knowing real circumstances for each?

Better go back to main topic

 

[DevilPlate]

Why in the world the discussion about bank/bank freezing accounts while we are talking about eSaver topic here?
Each compliance case has different angles to look at - what is the point to debate without knowing real circumstances for each?

Better go back to main topic

Ok lah good for general awareness but sometimes OT too much lah.

 

[EveMuffins]

I checked with my RM.
"Bonus Interest Payment" credited on the last day of the month is calculated based on Incremental ADB.
For the By Invitation promotion which interest calculation is based on Full ADB, remainder of bonus interest will be credited under tranche 2 by the following month (20th) with narration "Exclusive Bonus Interest".
In my case, the ADB in August is less than July hence no Bonus Interest Payment credited on 31 Aug. However, Exclusive Bonus Interest calculated based on Full ADB will be credited by 20th September.

tks..i checked my ABD upon seeing your msg. my Aug ABD is lower than Jul ABD as well.

 

[Hulky8]

now PB relationship is commoditized, go any lounge and you see people there getting free drinks and reading newspapers, some even camp for half a day. PB today is like mass banking of past.

Due to many influx of rich immigrants who bring with them 10 to 30 mio of assets, the bank actually target these ppl with “ultra high net worth” status and woo them with greater passion,,,the old economy local ppl who bring in 1 to 2 mio worth of cash are increasingly relegated to the sideways,,,,that’s unfortunately the way it is now ,hence u see fish mkt like PB

 

[DevilPlate]

Due to many influx of rich immigrants who bring with them 10 to 30 mio of assets, the bank actually target these ppl with “ultra high net worth” status and woo them with greater passion,,,the old economy local ppl who bring in 1 to 2 mio worth of cash are increasingly relegated to the sideways,,,,that’s unfortunately the way it is now ,hence u see fish mkt like PB

Now banks also scared liao. All the laundry money

 

[sglandscape]

Hi all, I didn't get any bonus interest at 31 Aug (usually at end of month ya) and I confirmed Aug ADB is higher than Jul. Something amiss? I've dropped SC secured message but they taking own sweet time to reply

Are you on special promo?

 

[V_for_Vanilla]

Hi all, I didn't get any bonus interest at 31 Aug (usually at end of month ya) and I confirmed Aug ADB is higher than Jul. Something amiss? I've dropped SC secured message but they taking own sweet time to reply

You should check which promo are you on first and look the relevant T&C.

 

[Uacesg]

You should check which promo are you on first and look the relevant T&C.

Hi there, the T&C is this: https://av.sc.com/sg/content/docs/s...07C0600168480A495FE2%40AdobeOrg|TS=1694301910

Does anyone already receive bonus interest for Aug yet?

 

[royalmix]

Hi there, the T&C is this: https://av.sc.com/sg/content/docs/sg-esaver-tnc.pdf?adobe_mc=MCMID=92179780629813059481142449660917735505|MCORGID=625107C0600168480A495FE2%40AdobeOrg|TS=1694301910

Does anyone already receive bonus interest for Aug yet?

My July is zero, deposited cash on 31 Aug, bonus interest is based on incremental ADB over July, I received both base and bonus interest on 31 Aug.

Is your July ADB zero? If not, your Aug ADB must be more than July ADB to receive bonus interest.

 

[rubicon]

looks like all the personal notes for transactions have disappeared in the app

 

[iduncheckmail]

Thanks for sharing My July ADB is $1k (minimum sum to maintain the eSaver account). Aug ADB is many times above July ADB. Somehow got screwed by SC. I have moved out my money out of this difficult eSaver crap and given up on SC. Their customer service is non-existent! I guess they only service priority banking customers.

 

[V_for_Vanilla]

Thanks for sharing My July ADB is $1k (minimum sum to maintain the eSaver account). Aug ADB is many times above July ADB. Somehow got screwed by SC. I have moved out my money out of this difficult eSaver crap and given up on SC. Their customer service is non-existent! I guess they only service priority banking customers.

I am on priority. But I usually call the general line for such enquiries with no issue. I suggest you badger them until they give you a satisfactory reply.

 

[bambooshoots]

Thanks for sharing My July ADB is $1k (minimum sum to maintain the eSaver account). Aug ADB is many times above July ADB. Somehow got screwed by SC. I have moved out my money out of this difficult eSaver crap and given up on SC. Their customer service is non-existent! I guess they only service priority banking customers.

Have you used the live chat feature (Contact us/click to chat with live agent) on the mobile app to check why you didn’t receive the bonus interest? maybe you were on some incremental top up promo?
Before transferring my funds for this Aug-Sep 3.4% promotion, I asked via chat if my account was under any prior promotions. Being kiasu as I was auto upgraded to priority status in late May and did not receive any new to priority promotions that was running at that time, and June. I transferred out everything and feedback to the assigned RM that this was unfair to me and he said will help me appeal. He never follow up. I have no idea if he ever acted on it or the appeal was rejected.
The live agent informed that my account was not on any promotional rate. I took screenshots of the chat, then transferred the funds. I received the bonus interest on 31 Aug.