Standchart eSaver

[0218crawford]

Did you receive 59.12+/- in BI ?

58+

 

[sglandscape]

knn. clawback $0.81 pui!

it's genuine error what, not sure why need to feel disgruntled can always move funds out

 

[a4973]

oh... you mean that.

well apparently the bank overpaid the bonus interest (public rate) last week? so now they claw back lor...

but those who're on invitational rate will receive another tranch by 20th which will include the amount they clawed back also lol.

Which means there is no error for the invitation Batch right looking at it from a total of prevailing and bonus interest basis ? otherwise why claw back only to payout again on 20 September ? Thank you for your patience.

 

[Lè Crayons]

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.

Nothing happened to mine... no addition and no clawback... haiz

 

[maumu]

Which means there is no error for the invitation Batch right looking at it from a total of prevailing and bonus interest basis ? otherwise why claw back only to payout again on 20 September ? Thank you for your patience.

based on my own calculations, they clawed back the correct amount and now I'm just waiting for the exclusive bonus interest by 20th.

so, there's no error at the moment.

 

[ahnyaahnya]

I think they overpaid. Then, cos someone informed them of the mistake, they investigated and found it to be true .
I think they will clawback the excess

 

[ahnyaahnya]

Oh they adjusted already?

 

[sohguanh]

I think they overpaid. Then, cos someone informed them of the mistake, they investigated and found it to be true .
I think they will clawback the excess

This goes to show in another thread Mr Mickey reader say how can banks be wrong and I say they dare to sumpah 100% no error in computation on their end. So fast happen liao this time is SCB.

Banks use programs and they are programmed by programmers so me in this line coming 30 years know how it works. No 100% sumpah no error one.

 

[ahnyaahnya]

My clawback is $4+

 

[sohguanh]

My clawback is $4+

Long time ago I also kena and I post the thread. Did that transaction got some English word clawback in it? If yes means SCB all along due to chut too many pattern until backend program shot shot liao.

 

[peppermint7]

Long time ago I also kena and I post the thread. Did that transaction got some English word clawback in it? If yes means SCB all along due to chut too many pattern until backend program shot shot liao.

Haha no la. It only says Bonus Interest Adjustment. Then the amount shows "Outgoing" so we know it flows out of our account.

 

[jseyong]

How will it be adjusted if balance is kept at 0?

 

[ahnyaahnya]

How will it be adjusted if balance is kept at 0?

Had withdrawn every single cent in your account?

 

[demoforce1]

my balance is still $0, so mean no clawback?

 

[royalmix]

How will it be adjusted if balance is kept at 0?

my balance is still $0, so mean no clawback?

Are you on public promo?

If yes, it confirms my "speculation" that this account cannot go -ve!

But you "legally" owe the bank money if you received the SMS notification, so maybe next time you fund, it will auto-deduct! (my speculation)

I shared earlier that I funded my account with the estimated clawback amt from zero. So I maintain "goodwill" with the bank!

 

[royalmix]

What is the cause of the inaccurate BI calculation for Aug Public Promo?

Human error can occur in this process because the bank needs to maintain the interest rate table every 2 mths for public promo. This table feeds the rates into the "well tested" computer system/program.

Why human error can occur? New staff, miscommunication, misinterpretation, failed checks, etc

Instead of keying in 3.30% into the table, 3.35% was keyed in, so we get more BI. This difference is clawed back.

I never on invite list. Someone on invite shared got clawed back too. So the rate for this invite group also went wrong, possibly!

Above conclusion is based on my own manual calculations as I always maintain my own mthly spreadsheet, and I have a good understanding of banking system operations!

There is one other bank with BI calculation error - that is clearly system program error. I do not know if it had been fixed as only new account opening will know, one time extra BI I get!

 

[Lè Crayons]

Mine was underpaid... but they did not add in funds after clawback from others.

 

[ahnyaahnya]

I too lazy to calculate my bonus interest .
I just compare bonus interest rate to base interest rate.
Then my bonus should be multiplied by the same ratio.
So I'm trusting that the bank has got the base interest correct , at least

 

[jasonsouza77]

just checked mine. yup deduction made

 

[Mickey01]

Mine was underpaid... but they did not add in funds after clawback from others.

be patient. If you can on Exclusive Invite, there is always this clause in the T&Cs -

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 (the“Bonus Interest Crediting Date
”), provided that your Qualifying Account remainsvalid and in good standing as at the Bonus Interest Crediting Date.

based on historialcal occurences - the interest are usually paid in 2 or 3 tranches. sum of #2 & #3 should equal to the BI % indicated in the invite
1. base int end of month
2. partial BI end of month (sometimes this is $0)
3. remainder BI by 20th of the following month