Standchart eSaver

[devion]

Oh so no sound no picture at all and they never contacted you. Wow. And they just suspend the account. What on earth

Oh I correct my earlier statement, the police did call me after I submitted the online police report. In that call, the officer talked to me about the police report & said that bank account suspension has to get back to the bank & find out which authorities made that request, then to contact the right authorities instead.
Anyway I was not interested about my account, am more interested to be able to login online to manage my SCB credit card, so I did not pursue on un-suspending my bank account. From SCB helpline, the CSO did also mention that for the suspended savings account, its permanent frozen for me. However am still able to use my card & online banking account, minus any savings acct.
Am able to view the savings acct when I login, but when I tried to transfer the very small amount left inside, it error out in the app.

 

[seraphimation]

Oh I correct my earlier statement, the police did call me after I submitted the online police report. In that call, the officer talked to me about the police report & said that bank account suspension has to get back to the bank & find out which authorities made that request, then to contact the right authorities instead.
Anyway I was not interested about my account, am more interested to be able to login online to manage my SCB credit card, so I did not pursue on un-suspending my bank account. From SCB helpline, the CSO did also mention that for the suspended savings account, its permanent frozen for me. However am still able to use my card & online banking account, minus any savings acct.
Am able to view the savings acct when I login, but when I tried to transfer the very small amount left inside, it error out in the app.

Ah okay, thanks for providing the information

 

[Squaredot]

Did you perform any large deposit or withdrawal of money previously before it was blocked?

how large is large??

 

[V_for_Vanilla]

Funds frozen sounds like being sanctioned.

 

[twosix]

Probably suspected of money laundering or money mule.

 

[Squaredot]

Probably suspected of money laundering or money mule.

likely but not sure. He just said his account has nothing inside, didn't mention the nature and amount$ of transactions in his account before his account got frozen.

 

[twosix]

likely but not sure. He just said his account has nothing inside, didn't mention the nature and amount$ of transactions in his account before his account got frozen.

True, but no reasons why the authorities want to freeze accounts, and with scam/fraud so notorious nowadays, these 2 r the likely reasons. Only the account owners will know what they use their accounts for.

Last month I was transferring some funds between different banks because of interests rates changes. The bank actually called me to verify it is me before allowing the transactions to go though. So the authorities are really on the ball nowadays.

 

[lzydata]

True, but no reasons why the authorities want to freeze accounts, and with scam/fraud so notorious nowadays, these 2 r the likely reasons. Only the account owners will know what they use their accounts for.

Last month I was transferring some funds between different banks because of interests rates changes. The bank actually called me to verify it is me before allowing the transactions to go though. So the authorities are really on the ball nowadays.

That's interesting. Were they all accounts in your own name?

 

[Squaredot]

True, but no reasons why the authorities want to freeze accounts, and with scam/fraud so notorious nowadays, these 2 r the likely reasons. Only the account owners will know what they use their accounts for.

Last month I was transferring some funds between different banks because of interests rates changes. The bank actually called me to verify it is me before allowing the transactions to go though. So the authorities are really on the ball nowadays.

may I ask which bank called u to verify on your fund transfers? Most times I don't pick up unknown numbers or I could just missed the calls.

 

[twosix]

That's interesting. Were they all accounts in your own name?

Yes. But the banks do not know mah.

 

[twosix]

may I ask which bank called u to verify on your fund transfers? Most times I don't pick up unknown numbers or I could just missed the calls.

DBS and CIMB.

 

[vsvs24]

DBS and CIMB.

Wow. Is your transferred amount very large or you transfer in foreign currency to have 2 banks call up.

 

[twosix]

Wow. Is your transferred amount very large or you transfer in foreign currency to have 2 banks call up.

5 digits. I dun do fcy.

The banks are on the ball due to the fujian gang.

 

[Devilsire]

DBS and CIMB.

Yes. But the banks do not know mah.

all accounts in your own name right?
initially i tot bank would be able to automatically filter out any false flagging as long as the transferor and transferee are the same person i.e account under same name.

 

[twosix]

all accounts in your own name right?
initially i tot bank would be able to automatically filter out any false flagging as long as the transferor and transferee are the same person i.e account under same name.

How will one bank knows my account # in another bank? They hold the transfer and checked with me first to ensure I'm not scammed or doing anything illegal. I appreciate what they did. And not only local bank. Foreign bank too. Kudos to them.

 

[Devilsire]

How will one bank knows my account # in another bank? They hold the transfer and checked with me first to ensure I'm not scammed or doing anything illegal. I appreciate what they did. And not only local bank. Foreign bank too. Kudos to them.

as in how paynow / ibanking works, where the payee will receive the payer's account name info via email/alert.
i was hoping, or assumed that banks have a system in place where they are able to retrieve payer & payee account name to automatically whitelist self name transfer

 

[Ark Law]

all accounts in your own name right?
initially i tot bank would be able to automatically filter out any false flagging as long as the transferor and transferee are the same person i.e account under same name.

Nope. Bank systems are aged and stupid. Ownself transfer to ownself even under self-registered Paynow NRIC/mobile number will get flagged. Go figure.

 

[vsvs24]

Nope. Bank systems are aged and stupid. Ownself transfer to ownself even under self-registered Paynow NRIC/mobile number will get flagged. Go figure.

Aiyoh. Why lei ?

Eg GXS cannot add payee. Or some banks I lazy to maintain payee, I will paynow to myself to get funds into the bank account I use for operating expenses.

 

[Ark Law]

Aiyoh. Why lei ?

Eg GXS cannot add payee. Or some banks I lazy to maintain payee, I will paynow to myself to get funds into the bank account I use for operating expenses.

Because the logic is that it is an external account. Even if the recipient is the same name. So as long as it is outbound or within same bank but different name, plus amount transferred is a significant amount, it will red flag.

 

[zippo1979]

all accounts in your own name right?
initially i tot bank would be able to automatically filter out any false flagging as long as the transferor and transferee are the same person i.e account under same name.

Your logic / understanding WAS correct in the past before Fujian Gang. Last time, same name to same name transfers, banks will hardly bother to give it a second look.

It has all changed now. As long as their anti money laundering system picks up certain patterns in fund movements (sizes / frequency), it does not matter whether it is same name or not, it will be flagged and up to the Bank if they want to investigate further like give you a call, or ask you for documentary information, or even send you account termination notice (which you can try to appeal).

This is all thanks for Fujian gang.