Standchart eSaver

[sohguanh]

Side track a bit. For that reader how can the banking software be wrong. Wonder if you work as software developer before. Software can run for years without error but one fine day cock up suddenly. I just kena in my workplace on a system I build for my employer. The error was traced to one of the data source that program read to process. Of cuz managers will horse back cannon why the software is not robust enough to handle etc.

Banks are big so they employ alot of QA and users to test but does that means 100% won't have error? They dare to sumpah 100%? Even MS release service pack etc

 

[CrashWire]

Anyone can advise how about for MariBank ?

Maribank gives daily interest. You can test yourself with $150.

 

[Squaredot]

how can a bank using banking software be wrong?

1. Based interest is 0.05% - you use end of day balance everyday *0.05% and then sum it up
2. Bonus interest is based on ADB. You sum up the EOD for 31 days and then divide by 31. you multiply this by the BI rate % * 31/365. I assume you are on Exclusive Invite
3. Then sum #1 & #2
4. If you have very little transactions in your account, you can use ADB*(Base Rate % + BI Rate %)*31/365 for a quick calculation. This number should equal the total from #3.

SCB has been running the promo for so many years. Cannot be a their mistake bah

SCB do make mistakes

 

[royalmix]

SCB do make mistakes

Do you know what is the mistake this time?

I am on public promo, can tell! Only public promos know, invite still cannot tell lah, may not happen to you lah, if you know the root cause!

My game plan this mth, transfer all out to POSB for the next 4 mths! I should be safe, unless account can go -ve, or when my interest is credited end of this mth - sufficient to claw back!

Who wants to know how to check with a simple formula! I always keep a mthly spreadsheet for multiple purposes!

I am ok to tell them their mistake

 

[maumu]

I won't be so quick to call it a 'mistake' until I collect the remaining BI by 20th the month... and tally up, before confirming if the interests earned tally with the invitation rate.

so I would advise the rest to just keep quiet and wait... don't make so much noise.

 

[laeticia]

SCB do make mistakes

I only know a few months ago I moved my money out after the promo ended. On the 1st of the next month SC gave me a 0.02 cent interest adjustment

 

[hyperbole]

I only know a few months ago I moved my money out after the promo ended. On the 1st of the next month SC gave me a 0.02 cent interest adjustment

I only kena this when I transferred out on the last day of the month which happened to be on a Sunday.

 

[royalmix]

I only kena this when I transferred out on the last day of the month which happened to be on a Sunday.

They are entitled to clawback, as stated in the tnc, when you try to game the system!

 

[hyperbole]

They are entitled to clawback, as stated in the tnc, when you try to game the system!

yes, nothing wrong with it. i just transferred back the adjusted amount. but never encountered this when transferring out after 'promo period'.

i did encounter getting charged interest on my scb credit card even though i paid in full on time though. when i asked the live chat they just said they dunno why and reversed the charges.

 

[waddahell]

I won't be so quick to call it a 'mistake' until I collect the remaining BI by 20th the month... and tally up, before confirming if the interests earned tally with the invitation rate.

so I would advise the rest to just keep quiet and wait... don't make so much noise.

Guru

I’m on the invited promo (3.55%) vs Aug/Sep (3.35%). First time on invited promo. The 0.20% interest is expected to be in by 20th? TIA.

 

[maumu]

Guru

I’m on the invited promo (3.55%) vs Aug/Sep (3.35%). First time on invited promo. The 0.20% interest is expected to be in by 20th? TIA.

not a guru but.. to answer your question the exclusive bonus interest will be in by 20th of the following month (so for Aug, by 20th of Sep).

 

[daadeedum]

got an sms saying that the interest was wrongly tabulated and adjustment / clawback will be made on 11 september

seems like it confirmed previous few comments on whether the august interest given was wrong and whether they will clawback

 

[royalmix]

Do you know what is the mistake this time?

I am on public promo, can tell! Only public promos know, invite still cannot tell lah, may not happen to you lah, if you know the root cause!

My game plan this mth, transfer all out to POSB for the next 4 mths! I should be safe, unless account can go -ve, or when my interest is credited end of this mth - sufficient to claw back!

Who wants to know how to check with a simple formula! I always keep a mthly spreadsheet for multiple purposes!

I am ok to tell them their mistake

Who inform them? Or their auditors found out!

They will claw back 0.05% = base interest ! (my calculations)

I have zero balance, let me see if it will go -ve!

(EDIT: Ok, I will be nice, transfer this amt back! )

 

[Imhthc]

got an sms saying that the interest was wrongly tabulated and adjustment / clawback will be made on 11 september

seems like it confirmed previous few comments on whether the august interest given was wrong and whether they will clawback

Ya. Same here.
Dear valued client, your e$aver bonus interest credited on 31 Aug was inaccurate. An adjustment will be made by 11 Sep. No further action is required from you. We are sorry for the inconvenience caused.

 

[mdax23]

Are they going to give you more or deduct?

 

[viv4080]

I also received the notice on adjustment to the BI credited on 31 Aug. Should be negative, otherwise no need to send SMS.



Read HWZ Forum Rules!

 

[Lè Crayons]

got an sms saying that the interest was wrongly tabulated and adjustment / clawback will be made on 11 september

seems like it confirmed previous few comments on whether the august interest given was wrong and whether they will clawback

I reported that mine was wrong. I called helpdesk and even spoke to my RM about it.

At first they told me to wait till 20th of the month. Now I received this sms... ok

 

[royalmix]

I reported that mine was wrong. I called helpdesk and even spoke to my RM about it.

Who inform them? Or their auditors found out!

They will claw back 0.05% = base interest ! (my calculations)

I have zero balance, let me see if it will go -ve!

(EDIT: Ok, I will be nice, transfer this amt back! )

Congrats! Did you receive any rewards from? (I received twice from another party whenever I feedback )

0.05% will be deducted from your account! (my calculations)

 

[Lè Crayons]

Congrats! Did you receive any rewards from? (I received twice from another party whenever I feedback )

0.05% will be deducted from your account! (my calculations)

My interest for August was v v little as compared to June and July but the funds were higher. Hence, I reported it. I was in the promo for June to August.

 

[royalmix]

My interest for August was v v little as compared to June and July but the funds were higher. Hence, I reported it. I was in the promo for June to August.

ok, you are on invite! My calculations only apply to public promo cos I am on public promo!