Standchart eSaver

[Garlic & Butter]

your account new/ or first large transfer?

happened to me last week. ebanking + app instant blocked after 1st time xfer to new account + large amount. lengthy wait/ call to CSO who say unable to unblock on her end, and another CSO called nxt day to unblock.

there's no 12hrs cooling period when adding that (new) account

 

[botak33]

your account new/ or first large transfer?

happened to me last week. ebanking + app instant blocked after 1st time xfer to new account + large amount. lengthy wait/ call to CSO who say unable to unblock on her end, and another CSO called nxt day to unblock.

there's no 12hrs cooling period when adding that (new) account

Account not new & not very large amount around 50K.

 

[botak33]

Issit your sum is very big? Or issit you seldom move your funds?
I ever been called up once in the early years to confirm I'm the one doing the transfer. Thereafter touch wood could be they see my patterns of transferring here and there they didn't bother me much. I just transfer yesterday 100k to HL bank (new bank linkage for me) and it went thru smoothly. I was also a bit worried it get suspended but so far so good. Maybe today more ppl move funds so they extra careful

I always do the music chair for so many years. Nothing happened & only 50K.

 

[peppermint7]

Account not new & not very large amount around 50K.

Could be you seldom transfer then. I recalled the time when they called me back then was i seldom transfer and they flag it as suspicious funds movement. My sum wasn't big back then. Only like 3k.

 

[Devilsire]

I always do the music chair for so many years. Nothing happened & only 50K.

i transfer periodically in/out SCB every cycle 5-6 figures all to similar saved accounts, no kena before
personally i feel its a good safeguard if really blocks, just like flight getting cancelled/delayed for checks etc, i reckon safety first over inconveniences

 

[sglandscape]

i transfer periodically in/out SCB every cycle 5-6 figures all to similar saved accounts, no kena before
personally i feel its a good safeguard if really blocks, just like flight getting cancelled/delayed for checks etc, i reckon safety first over inconveniences

Agree with you, and especially if it is a new payee. If have repeated to and fro transfers and all same name account the bank also know you're trying to game them, but no choice they still need the funds

 

[botak33]

i transfer periodically in/out SCB every cycle 5-6 figures all to similar saved accounts, no kena before
personally i feel its a good safeguard if really blocks, just like flight getting cancelled/delayed for checks etc, i reckon safety first over inconveniences

I agreed that it is a good safeguard to block an account for suspicious funds movement. I'm pissed off because they will only call me in the next 2 or 3 working days & not in an hour or by today. I requested to call them directly to verify but was told unable to.

 

[botak33]

I am trying to understand the issues, there are 2 of you:

Garlic use app to transfer to a new account + large amt - I understand why the system will flag as suspicious.

botak - did u use app to do the transfer?

Yes. The SCB mobile app.

 

[badkham07]

For the marathon promo, if i were to transfer in 100k by 31 Dec 2024 to lock in the promo, but withdraw all for the month of Jan 25, any idea if i would be able to enjoy the feb's rate if i re-transfer back in Feb 25?

 

[botak33]

Ok, banks have responsibility to act to prevent suspicious activities. Their system is especially sensitive to react to actions taken by Apps.

When you "act" like scammers, the bank's system will react. What scammers usually do? Create new payee, transfer big sums, all using Apps.

So to protect yourself and prevent any inconvenience, I always use ibanking to do all my merry go transfers of big sums. I did a big one yesterday, I do another bigger one today, on another bank's ibanking system. I always avoid using Apps, Apps are only for 2FA!

You cannot blame the bank for not acting fast to reverse their actions, they have responsibilities, plus today is half day business operations. All the more their system is sensitive to react!

Hope it helps!

Thanks for the advise. I wish I know this earlier.

 

[GrandJedi]

Look at the example.. it states end of day balance, not daily balance.

Just to add... must have $5k incremental on the last day of the month! Do not empty out the account on the last day of the month!

 

[GrandJedi]

i transfer periodically in/out SCB every cycle 5-6 figures all to similar saved accounts, no kena before
personally i feel its a good safeguard if really blocks, just like flight getting cancelled/delayed for checks etc, i reckon safety first over inconveniences

I have not had a problem but I am transfering to my own name accounts.

 

[Mickey01]

I always do the music chair for so many years. Nothing happened & only 50K.

The financial institutions and telcos under the "Shared Responsibility Framework (SRF) kicked in on 16 Dec 2024. So now the FI probably have set more stringent guidelines to flag suspicious activities (which is good) to stop the millions of dollars to the wallets of the scammers. Not sure how each bank setup their screening guidelines (or how stringent) though.

 

[Mickey01]

I have not had a problem but I am transfering to my own name accounts.

This is no longer true .... I used to believe this is safe. Until one of my transfer was suspended and need to wait 6 hours for the bank to release my computer internet banking & app login ID

 

[Mickey01]

https://www.channelnewsasia.com/sin...mework-dec-16-responsibilities-duties-4699236

 

[vsvs24]

The financial institutions and telcos under the "Shared Responsibility Framework (SRF) kicked in on 16 Dec 2024. So now the FI probably have set more stringent guidelines to flag suspicious activities (which is good) to stop the millions of dollars to the wallets of the scammers. Not sure how each bank setup their screening guidelines (or how stringent) though.

https://www.businesstimes.com.sg/co...-16-financial-institutions-roll-out-real-time

https://www.channelnewsasia.com/sin...erate-too-many-false-alerts-alvin-tan-4742786


This means that if a customer’s account is being rapidly drained of a material sum to scammers, FIs must either block the transaction until it is able to reach the customer for positive confirmation, or send a notification to the customer and block or hold the transaction for 24 hours. An account is considered to be rapidly drained if more than half of a balance of at least $50,000 is transferred out cumulatively over a day.

****

Banks given 6 mths to implement from 16 Dec 2024. But I suppose banks who are ready can impose earlier.

 

[peppermint7]

This is creating so much extra work. Why don't they just revert back to physical token?

 

[Mickey01]

This is creating so much extra work. Why don't they just revert back to physical token?

ha ha ha ......... this was exactly what I told the bank officer when she called me for verification and unlock my account. Told her if the bank do not trust the soft token, give me back my hard token

Anyways, after my account was locked, a south asian accent female officer did call me. As usual did the security verification etc etc. Until she ask me to confirm the name of bank and the account number which I'm transferring to and the amount; which I got very uncomfortable. So I as her "are you calling from the bank branch in Singapore" and she replied "this I'm not able to confirm" and so I replied "then I'm not comfortable to provide bank name and account number as I don't know if you are real or scammer". Immediately after that call, another local officer branch officer called. She identified herself and the name of the branch. She did not ask me for the payee bank name and account number. the account was unlocked within secs after the last call.

 

[vsvs24]

ha ha ha ......... this was exactly what I told the bank officer when she called me for verification and unlock my account. Told her if the bank do not trust the soft token, give me back my hard token

Anyways, after my account was locked, a south asian accent female officer did call me. As usual did the security verification etc etc. Until she ask me to confirm the name of bank and the account number which I'm transferring to and the amount; which I got very uncomfortable. So I as her "are you calling from the bank branch in Singapore" and she replied "this I'm not able to confirm" and so I replied "then I'm not comfortable to provide bank name and account number as I don't know if you are real or scammer". Immediately after that call, another local officer branch officer called. She identified herself and the name of the branch. She did not ask me for the payee bank name and account number. the account was unlocked within secs after the last call.

Your esaver account also locked ? When was it ?

 

[bladez87]

OK... Means we will have difficulty merry go round tmr...