Standchart eSaver

[waddahell]

I transferred in and immediately transferred out some funds in June. And the everyday end-day balance is $0. And I transferred in the funds on July 1st and will maintain them. Am I eligible for Jun 24 (compared with May) promotion or Jul 24 (compared with June)?

So your June ADB is zero…???

 

[waddahell]

if i transfer in money on a sunday to scb, the transaction is posted on monday. if i take out money on sunday kena "interest adjustment" wth

Confirmed. Also had a few cents clawed back. Seems like base interest and bonus interest are calculated differently. Base interest may be by value date and bonus interest by posted date. Not 100% sure though. The Sunday/PH clause specifically mentioned “bonus “ interest only and maybe that’s why.

 

[ThreeSteps]

I transferred in and immediately transferred out some funds in June. And the everyday end-day balance is $0. And I transferred in the funds on July 1st and will maintain them. Am I eligible for Jun 24 (compared with May) promotion or Jul 24 (compared with June)?

e$saver bonus interest promo is currently available with 2 interest earning months (June & July), based on incremental ADB (the average daily balance) as compared to May ADB.
If your daily end-day balance throughout June is $0, then the average daily balance (ADB) for June is $0 – you will not get interest for June.
If your July ADB is not $0 & higher than May ADB, you will get bonus interest for the incremental ADB.

refer to t&cs: https://av.sc.com/sg/content/docs/sg-esaver-tnc.pdf

 

[maumu]

hey those of you who're priority banking customers...

have you emptied (zero-ed) out the account before and still receive the previous months' bonus interest? understand there's no fall-below fee or what for priority banking, but wonder if doing so may disqualify one from receiving the bonus interests from the previous month.

want to lower the ADB this month to the minimum... so thanks for sharing.

 

[60Remajust]

hey those of you who're priority banking customers...

have you emptied (zero-ed) out the account before and still receive the previous months' bonus interest? understand there's no fall-below fee or what for priority banking, but wonder if doing so may disqualify one from receiving the bonus interests from the previous month.

want to lower the ADB this month to the minimum... so thanks for sharing.

yes, i always do that. still get bonus int

 

[V_for_Vanilla]

hey those of you who're priority banking customers...

have you emptied (zero-ed) out the account before and still receive the previous months' bonus interest? understand there's no fall-below fee or what for priority banking, but wonder if doing so may disqualify one from receiving the bonus interests from the previous month.

want to lower the ADB this month to the minimum... so thanks for sharing.

I thought esaver has minimum balance of 1k.

 

[maumu]

I thought esaver has minimum balance of 1k.

no fall-below fee for priority customers...

 

[maumu]

yes, i always do that. still get bonus int

thanks for confirming...

 

[waddahell]

hey those of you who're priority banking customers...

have you emptied (zero-ed) out the account before and still receive the previous months' bonus interest? understand there's no fall-below fee or what for priority banking, but wonder if doing so may disqualify one from receiving the bonus interests from the previous month.

want to lower the ADB this month to the minimum... so thanks for sharing.

my Apr/May were zeroed out. I cant rmb when they upgraded me to priority. Maybe in between and I didnt receivefall-below fee.

 

[V_for_Vanilla]

no fall-below fee for priority customers...

Oh. I am priority. Where does it say?

 

[maumu]

my Apr/May were zeroed out. I cant rmb when they upgraded me to priority. Maybe in between and I didnt receivefall-below fee.

I know there's no fall below fee for priority, but just worried if they may not give the bonus interest haha

 

[waddahell]

I know there's no fall below fee for priority, but just worried if they may not give the bonus interest haha

Your worries is on invited promotion hor?

 

[maumu]

Your worries is on invited promotion hor?

not exactly... but so far I have never gone below the min. balance ($1k). one time I got invited to batch A, another time to batch B... so idk how they choose their customers.

I'm currently on batch B (the lousier IR) and am waiting to get the BI from last month so... don't want to lose it because I'm below the min. balance (although I'm under priority banking lah)

 

[maumu]

Oh. I am priority. Where does it say?

https://www.sc.com/sg/pricing-guide/#sc-lb-module-fee-and-rate

 

[waddahell]

not exactly... but so far I have never gone below the min. balance ($1k). one time I got invited to batch A, another time to batch B... so idk how they choose their customers.

I'm currently on batch B (the lousier IR) and am waiting to get the BI from last month so... don't want to lose it because I'm below the min. balance (although I'm under priority banking lah)

Which invited promo? June/July/Aug?
I also on batch B. already receive BI on 29 Jun.

 

[ahnyaahnya]

How do they calculate the interest?
Previous month closing balance was just a bit above zero
I'm on invite one.
I calculated balance x number of days + balance x no of days and so on.
Then I totally up and divide by 30 to find the average balance.
Then I multipy by % , then ÷ 365 x 30.
I arrived at $200+ .
But they only gave me $100+

 

[maumu]

Which invited promo? June/July/Aug?
I also on batch B. already receive BI on 29 Jun.

May - July.

there'll be another (smaller) tranche of interest to be credited by 20th of the month. maybe you need to read back a few pages to understand how the eSaver invitational bonus works...

 

[waddahell]

May - July.

there'll be another (smaller) tranche of interest to be credited by 20th of the month. maybe you need to read back a few pages to understand how the eSaver invitational bonus works...

First time on invited. Will take a look.

Edit: I read before. some member commented got two payments, sometimes three payments. I went to back calculate the bonus interest… seems quite tally to my ADB. that’s why I thought all the BI came in. Maybe your earlier May/June/July promo different. Tried to read back last 20 pages, cannot find the info alr.

 

[waddahell]

have to repeat every month for newbies and those who didn't read past posts...

29 Feb - 0.05% base interest on whole month's ADB
29 Feb - 3.55% on incremental balance compared to January's ADB (based on public promo rate)
by 20 Mar - remaining bonus interest (depending on invitational rate) on full balance of February

so if your Jan and Feb ADB is about the same, obviously you're not going to get much (or none) on 29 Feb.

Finally found

I’m guessing if the public promo is higher than the invited, that delta will be the third payment.

“The Bonus Interest shall be credited to your Qualifying Account(s) in single or multiple credit transactions by the 20th calendar date of the following month”

 

[maumu]

Finally found

I’m guessing if the public promo is higher than the invited, that delta will be the third payment.

“The Bonus Interest shall be credited to your Qualifying Account(s) in single or multiple credit transactions by the 20th calendar date of the following month”

indeed, this is a rare occasion when the invite rate is actually lousier than the public rate. but the bank is supposed to honour the conditions laid out in the invite tnc (i.e. to give bonus interest on the full balance instead of incremental balance).

will have to wait till 20 July to see if they fail to honour the tnc.