Bonus$aver

  • What is the Bonus$aver Account?

    Bonus$aver comprises of a Bonus$aver account (which is an innovative Current Account that gives you one of the highest interest rate in town), and Bonus$aver World MasterCard credit and/or debit card(s) which may be linked to the Bonus$aver account.

    Earn up to 3.88% p.a. interest on your savings for the first S$100,000 in your Bonus$aver account when you do any of the following:

    • Credit your salary through GIRO
    • Pay bills online/through GIRO
    • Spend on your Bonus$aver Credit or Debit Card
    • Invest with a Unit Trust or insure with a regular premium insurance policy

    The account comes with eStatements and you can choose to have a chequebook (chequebook facility is not available for Bonus$aver accounts opened through an online application).

  • What are the benefits of Bonus$aver?

    Unlike other current and savings accounts, Bonus$aver is a unique account offering interest rates that are higher than any time deposit. You can earn up to 3.88% p.a. interest for up to S$100,000 deposit as you consolidate your spends, salary credit, bill payments and wealth needs with just a single account.

  • How is the interest calculated?

    You can earn up to 3.88% p.a. interest on the first $100,000 Average Daily Balance in your Bonus$aver account.

    Your will receive 2 types of interest on your account balance every month.

    Prevailing interest:

    Deposit Balance Interest Rate
    Less than $200,000 0.10% p.a.
    $200,000 and above 0.20% p.a.

    This interest is accrued daily. You will receive this interest at the end of every month.

    Bonus interest:

    You earn bonus interest on the first S$100,000 of your account average daily balance when you do any or all of these:

    • Earn up to 1.78% p.a. for spending at least S$2,000 in eligible transactions on your Bonus$aver Credit or Debit Card, or earn up to 0.78% p.a. for spending at least S$500 in eligible transactions on your Bonus$aver Credit or Debit Card and/or
    • Earn 1% p.a. for crediting your salary of at least S$3,000 through your employer via giro and/or
    • Earn 0.75% p.a. for 12 months when you purchase a new eligible unit trust investment or regular premium insurance product from SCB and/or
    • Earn 0.25% p.a. for paying any 3 unique bills online or through GIRO

    On the months you do less of the above transactions, you will earn the relevant lesser bonus interest. You will receive this interest by the end of the following month.

    For illustration purposes, the applicable bonus interest and prevailing interest on the deposit balance in a Bonus$aver account given the following average daily balance in the account and eligible bonus interest tiers in a calendar month are as follows:

    Month Average daily balance (ADB) in Bonus$aver account Eligible bonus interest tiers Interest earned on the deposit balance (p.a.)
    Jul S$100,000 Spent $2,000 on Bonus$aver Credit/Debit card Total interest of 1.88% on $100,000
    Aug S$30,000 Spent $300 on Bonus$aver Credit/Debit card Prevailing interest of 0.1% on $30,000#
    Sep S$100,000
    • Credited salary of at least S$3,000
    • Paid at least 3 eligible bills of $50 each
    Total interest of 1.35% on $100,000
    Oct S$135,000
    • Spent $2,000 on Bonus$aver Credit/Debit card
    • Credited salary of at least S$3,000
    Total interest of 2.88% on first $100,000 and prevailing interest of 0.1% on the remaining $35,000#
    Nov S$255,000
    • Spent S$2,000 on Bonus$aver Credit/Debit card
    • Credited salary of at least S$3,000
    Total interest of 2.88% on first $100,000 and prevailing interest of 0.2% on remaining $155,000#
    Dec S$120,000
    • Spent $2,000 on Bonus$aver Credit/Debit card
    • Credited salary of at least S$3,000
    • Paid at least 3 eligible bills of $50 each
    • Purchased a new eligible UT or insurance product
    Total interest of 3.88% on first $100,000 and prevailing interest of 0.1% on remaining $20,000#

    # Prevailing interest is calculated based on the deposit balance at the end of each day. The illustration assumes that the end-of-day deposit balance for each day in the month is the same (i.e. equivalent to the average daily balance).

    Note: The Bank reserves the right to revise interest rates at any time without notice.

  • Is there a maximum amount of bonus interest that I can receive?

    Yes. The average daily balance eligible for bonus interest is subject to a cap of S$100,000 per Bonus$aver account. Any average daily balance amount in excess of the cap is not eligible for bonus interest (but the prevailing interest rates will apply).

  • When will I receive my bonus interest?

    Bonus interest will be credited to your Bonus$aver account by the end of the following month.

  • How will I know that the bonus interest is credited into my Bonus$aver Account?

    Your bonus interest will be reflected in your e-statement, Online Banking and Mobile Banking transaction history as:

    BONUS INTEREST (SALARY)
    BONUS INTEREST (BILL PAY)
    BONUS INTEREST (CARD SPENDS)
    BONUS INTEREST (WEALTH x/12)

    If you close your account before the bonus interest crediting date, the bonus interest for the previous month will not be credited.

  • If the balances in my Bonus$aver account earn bonus interest, will it still continue to earn prevailing interest?

    Yes, bonus interest is in addition to the prevailing interest rates, and the total interest you can receive is a maximum of 3.88% p.a. Prevailing interest will be calculated daily and credited monthly.

  • If I close my Bonus$aver account before the interest crediting date, will I still be paid any interest?

    If you close your Bonus$aver account before the end of the month, prevailing interest will be paid up to the day before account closure. You will not be paid any bonus interest. Any bonus interest paid prior to account closure will not be clawed back.

  • Is there a monthly fee payable for the Bonus$aver account?

    There is no monthly fee.

  • Is there a minimum deposit amount required to open the Bonus$aver account?

    There is no minimum deposit amount required to open the Bonus$aver account. You can open the Bonus$aver account with as little as S$1.

  • Is there a minimum balance that needs to be maintained for my Bonus$aver account?

    A fall below fee of S$5 per calendar month will be charged if your average daily balance in your Bonus$aver account for that calendar month is less than S$3,000.

  • How can I open a Bonus$aver Account?

    You can open a Bonus$aver account at any of our branches or through online application at sc.com/sg/bonussaver/

  • Can I open more than one Bonus$aver Account?

    Each customer is only allowed to open up to THREE (3) Bonus$aver accounts where he/she is the Primary Account holder. The signing mandate can be either signed singly or joint alternate.

  • How do I deposit funds into my Bonus$aver account?

    You can deposit funds into Bonus$aver via:
    • Cash deposit at branches
    • Our cash deposit machines
    • Online banking
    • Cheque mail-in or drop-off at branches
    • Other banks' Internet Banking, Standing Instruction (SI) or GIRO
  • How do I withdraw funds from Bonus$aver?

    You can withdraw funds from Bonus$aver via:
    • Over 140 ATMs islandwide with atm5 - a shared network that gives you access to ATMs from Standard Chartered Bank (Singapore) Limited and 5 other banks: HSBC, ANZ Bank, Maybank, State Bank of India and Citibank (selected locations) ATMs. Locate an ATM now.
    • Online banking
    • Phone banking
    • Cash withdrawal over the counter at branches (not available for Bonus$aver accounts opened through an online application)
  • Can I use the money in my Bonus$aver account?

    Yes you can. There is no lock-in period for this account. You can withdraw money with a debit card and/or access your money through SCB Online Banking or SC Mobile (Breeze).

Credit or Debit Card Spend Bonus
  • How do I qualify for the credit or debit card spends bonus interest?

    To qualify for the credit or debit card spends bonus interest:
    • You need to spend a minimum of S$2,000 on your Bonus$aver Credit or Debit Card to earn up to 1.78% p.a. interest.
    • You need to spend a minimum of S$500 on your Bonus$aver Credit or Debit Card to earn up to 0.78% p.a. interest.

    • Only eligible transactions with posting date within the calendar month will be considered.

      Spending is based on the first 2 linked Bonus$aver debit/credit cards in to the account. Spending on the third card onwards will not be taken into consideration.

    • What cards are excluded from this bonus?

      Only the linked Bonus$aver Credit or Debit card will be included.

    • What types of spend are eligible?

      Only MasterCard retail spend charged to the Bonus$aver World MasterCard credit and/or debit card are eligible. Transactions such as EasyPay monthly instalments, NETS, cash advance, balance transfer and payments of interests and charges such as annual fee, late fee and finance charges and payments made to all billing organisations through online banking using your Bonus$aver card are not eligible.

    • What transactions are excluded from the card spends?

      These transactions do not qualify as card spends:

      • balance transfers
      • cash advance
      • Easypay installments
      • ATM/NETS transactions
      • fees and charges (including annual fees, interest charges, cheque processing fees, administrative fees, cash advance fees, finance charges and/or late payment charges and other miscellaneous fees and charges
      • online bill payments
      • AXS payments
      • EZ-Link transactions and other TransitLink transactions
      • top-ups of any stored value facility
      • payments to loans or credit facilities or deposit accounts
      • income tax payments
      • payments to the Immigration and Checkpoints Authority, Ministry of Manpower and Land Transport Authority
      • transactions arising from the use of your linked Bonus$aver Cards as an ATM card at an ATM or at an EFTPOS or NETS terminal
      • any amount charged to your linked Bonus$aver Card in that calendar month that is subsequently cancelled, voided or reversed
      • balance owing on your linked Bonus$aver Card from previous or other months

      Note:

      Any transaction 1) on credit or debit cards that are terminated at any time and 2) that is subsequently cancelled, reversed or made void, will not qualify.

      If there is any merchant refund, it will be deducted from the total spending in that calendar month.

    • I spent $2000 on my Bonus$aver World MasterCard credit and/or debit card on the 30th of the month. Would this spend be counted towards this month's qualifying spending for bonus interest?

      You will receive bonus interest of up to 1.78% p.a. or 0.78% p.a. on the average daily balance in your Bonus$aver account ("ADB") for a calendar month if you charge a minimum of S$2,000 or S$500 respectively, on your Bonus$aver account in the calendar month based on transaction posting date.

      "Transaction posting date" refers to the date on which the transaction is posted to your account after the bank has received the transaction information from the merchant. A transaction posting date differs from the "transaction date" which is the actual date of the transaction. The transaction posting date is dependent on when the bank receives the transaction information from the merchant and this is usually within a few working days after the transaction date. Your Bonus$aver cards statements currently indicate the transaction dates for your transactions, but not the transaction posting dates.

Salary Credit Bonus
  • How do I qualify for the salary credit bonus interest?

    You just need to credit a minimum salary of S$3,000 to your Bonus$aver Account every calendar month via GIRO through your employer.

    You can meet this minimum salary requirement through a single credit or multiple credits each calendar month.

    If there are multiple joint account holders, the total salary amount credited to the account will be considered in meeting the Salary Credit Bonus requirement.

  • Does all salary credit qualify?

    While there are many ways salary gets credited into an account, only direct salary credits through GIRO via your employer will qualify for this bonus.

    Other forms of salary credit such as cheques, cash deposit or fund transfer etc, strictly do not qualify for this bonus interest.

  • How do I set up by Bonus$aver Account as my salary crediting account?

    You just need to inform your HR department of your Bonus$aver Account number as the salary crediting account. You will only need to do it once.

  • If my salary is credited via cheque or fund transfer, will I qualify for the salary credit bonus interest?

    No, unfortunately salary credit via cheque or fund transfer will not qualify. Please inform you HR department to make a direct salary credit through GIRO into your Bonus$aver account.

Bill Payment Bonus
  • How do I qualify for the payment bonus interest?

    You just need to pay any 3 unique bills with your Bonus$aver Account through SC Online Banking or SC Mobile (Breeze), or through GIRO every calendar month. Multiple bill payments on the same bill within the calendar month will be considered as a single payment.

    If there are multiple joint account holders, the total number of eligible bill payments debited through the account will be considered in meeting the Payment Bonus requirement.

  • Why do I want to pay my bills with SCB Online Banking or SC Mobile (Breeze)?

    It is easy to pay your bills using our Online Bill Payment or Pay Any Card services through our award-winning SCB Online Banking and SC Mobile (Breeze). The user-friendly interface will ease your bill payment with simple steps and clicks.

    To set recurring GIRO payments, download and complete the GIRO forms and submit to the respective billing organisation.

  • Where can I find more information on SCB’s payment services?

    For more information on our Online Bill Payment and Pay Any Card services, please click here.
    For GIRO payments into SCB, please click here for the forms.

  • Are there payments that are excluded?

    All online bill payments or GIRO that is subsequently cancelled, reversed or made void will not qualify.

    Payments to SCB credit card will not qualify.

    Payments made via AXS, SAM, ATMs or eNETS do not qualify for this interest.

  • Will Pay Any Card payments through SCB Online Banking or SC Mobile (Breeze) be considered?

    Yes, subject to minimum amount of S$50.
    However, payments to SCB credit card will not qualify.

Invest or Insure Bonus
  • When will I qualify for the wealth bonus interest?

    Only new eligible financial products purchased from 1 July 2016 will qualify for the Invest or Insure Bonus.

    You will receive bonus interest for 12 months from the following month from the date of purchase.

  • What happens if I purchase more than one eligible product?

    The 12-month period for this bonus interest will begin after the purchase has been made of the latest eligible financial product purchase.

    Multiple purchases will not be aggregated for consideration towards the required minimum amount.

  • Do I continue to receive this bonus interest if I sell my investments or when they mature?

    Yes. You will continue to receive this bonus interest even after sale of the Unit Trust or when your policy ceases.

  • What are the eligible products and respective qualifying amounts?

    Only new eligible financial products purchased from 1 July 2016 will qualify for the Invest or Insure Bonus.

    Please refer to the following for the full list of eligible financial products.

    For Insurance, all policies will be included except for single premiums.



    For Investment, all Unit Trusts (UT) will be included except for:

    • Exchange traded funds;
    • Investments via regular savings plans;
    • Switching transactions; and
    • Transfer of UT from other banks.
  • How can I pay for the eligible financial products?

    There are many ways to pay for insurance or investment products:

    • Insurance: Cash, cheque or credit card
    • Unit Trusts: Funds from your SCB deposit account
  • What financial products are excluded from this bonus?

    These are examples of financial products that do not qualify for this bonus:

    • Exchange traded funds;
    • Investments via regular savings plans;
    • Switching transactions; and
    • Transfer of UT from other banks.
  • I’ve previously purchased an insurance policy, will I be eligible for the bonus interest under Wealth?

    No, only new purchases from 1 July 2016 will be considered.

  • If I have more than one Bonus$aver account, which account will the wealth bonus interest be credited into?

    If you have multiple Bonus$aver accounts, the wealth bonus interest will be credited into the account that was first opened (based on account open date).

  • If I have more than one Bonus$aver account, can I nominate which account will receive the wealth bonus interest?

    No, the wealth bonus interest will be credited into the account that was first opened (based on account open date).

    Do consolidate your funds and credit/debit card spends accordingly so that you will enjoy the full benefit of the Bonus$aver product.

e$aver

Processes
  • How do I open an e$aver account?

    You can open an e$aver account in 3 easy steps:
    • Complete a simple application form that is available online (forms are also available at all branches)
    • Attach a copy of each applicant's NRIC (front & back)
    • Mail your application with a cheque in the Business Reply Envelope available online (Each applicant is to provide an initial deposit - a cheque drawn on his/her personal account in the applicant's name at another local or Qualifying Full Bank)

    Note: Foreigners must apply for e$aver at any of our branches.

  • Can I open an e$aver account by mailing in my application with a cashier's order?

    To open an e$aver account via mail-in application, you need to provide a cheque drawn on your personal account in your name at another local or Qualifying Bank. A cashier's order is not acceptable and in such an instance, please apply at any of our branches.

  • What if the signature on my e$aver application form & my cheque differs? Will my e$aver application be accepted?

    No, if the signature on your e$aver application form & your cheque differs, your e$aver application will not be accepted.

  • Can I open e$aver with joint account holder(s)?

    Yes, you can open e$aver with a maximum of 1 joint account holder besides yourself, that is, there can only be 1 main account holder & 1 joint account holders.

  • I have a joint account with my wife in another bank. I will be opening an e$aver joint account with my wife and issuing a cheque from my joint account from another bank. Do my wife and I need to issue a cheque each?

    Yes, to open an e$aver joint account, each applicant is to provide an initial deposit so your wife and yourself need to issue a cheque each.

  • How do I know that my e$aver account application has been successful?

    An account opening confirmation letter to inform you of your successful application for e$aver will be sent to you within 7 working days. The account opening confirmation letter will contain your e$aver account number (10 digits). If you are new Internet Banking/Phone Banking user, the letter will contain your Internet Banking/Phone Banking User ID and your Internet Banking PIN & Phone Banking PIN will be sent to you separately. If you are an existing Internet Banking/Phone Banking user, the letter will contain your existing Internet
    Banking/Phone Banking User ID and you can immediately access your e$aver account with your existing Internet Banking & Phone Banking PINs.

  • How do I request for the e$aver account opening confirmation letter to be resent to me as my e$aver account has been set up more than 2 weeks ago but I have not received the letter?

    Please call our customer service hotline at 1800 747-7000 to request for your e$aver account opening confirmation letter to be resent to you.

  • How long does it take for my Internet Banking PIN to reach me?

    Your Internet Banking PIN will be sent to you within 7 working days.

  • How do I request for a new Internet Banking PIN if I have forgotten or lost my existing Internet Banking PIN?

    Please call our customer service hotline at 1800 747-7000 to request for a new Internet Banking PIN or you can SMS "PIN" to 9012 7000 for our customer service officer to call you.

  • For e$aver joint accounts, will there be a separate account opening confirmation letter sent to the joint applicant?

    Yes, for e$aver joint accounts, there will be a separate account opening confirmation letter sent to the joint applicant.

  • For e$aver joint accounts, will the main account holder & joint account holder share the same Internet Banking User ID and PIN or will they be given separate User IDs and PINs?

    For e$aver joint accounts, the main account holder & joint account will be given separate User IDs and PINs.

  • For e$aver joint accounts, if the main account holder is a new Internet Banking user and the joint account holder is an existing Internet Banking user or vice versa, what will be account opening confirmation letters reflect?

    For e$aver joint accounts, separate account opening confirmation letters will be sent to the main account holder & the joint account holder. If the main account holder is a new Internet Banking user, the letter will reflect his new Internet Banking User ID and a new Internet Banking PIN will also be sent to him. If the joint account holder is an existing Internet Banking user, the letter will reflect his existing Internet Banking User ID and he can immediately access the account with his existing Internet Banking PIN. If the joint account holder has forgotten or lost his Internet Banking PIN number, then he can request for a new PIN number via our customer service hotline at 1800 747-7000.

  • I do not have a mobile phone. How do I apply for Internet Banking Funds Transfer (as it is stated in the application form that a mobile phone number is required for Internet Banking 3rd Party Payee set-up & change of particulars)?

    If you do not have a mobile phone, please register for Internet Banking Funds Transfer by completing the Electronic Banking Services Application Form that is available at our website. To add more Internet Banking Funds Transfer payees, please continue to do so via the Electronic Banking Services Application Form.

  • I want to I am an existing Internet Banking user. Can I use my existing Internet Banking User ID & PIN to access my e$aver account?

    Yes, you can use your existing Internet Banking User ID & PIN to access your e$aver account.

  • If I close my e$aver account before the interest crediting date, will I still be paid any interest?

    Interest is calculated daily and credited monthly at the end of every month. If you close your e$aver account before the end of the month, interest will be paid up to the day before account closure.

  • I want to close e$aver. How do I do so?

    To close e$aver, please go to any of our branches or contact us on 1800-747 7000.

  • Can I write in to the Bank to close e$aver?

    No, mail-in requests to close e$aver will not be accepted. To close e$aver, please go to any of our branches.

General/Product Features
  • What is e$aver?

    e$aver is an innovative savings account that is designed to compliment your regular savings or checking accounts. e$aver focuses on earning high interest rates on your savings while giving you the flexibility to transfer your funds to your savings or checking account anytime you need to.

    Note: e$aver operates with NO ATM Card, Passbook or monthly statements. Account Holders must view their record of transactions via Internet Banking.

  • What are the benefits of e$aver?

    Unlike other savings accounts, e$aver earns you interest that is comparable to fixed deposits. As interest is based on a flat rate, you earn the same high interest from the very first dollar. Also, there is no monthly fee and there is no need to maintain a monthly minimum balance so e$aver is a simple and easy solution to managing your savings online.

  • Is e$aver suitable for me?

    e$aver is suitable for anyone who enjoys online banking. You can start saving from as little as S$1. e$aver does not replace your regular savings or checking account as it exists for you to put your spare cash from these accounts to make it work harder. And when you need the cash, you can electronically transfer to any account of your choice.

  • Am I eligible for e$aver?

    You are eligible to open an e$aver account if you are 21 years old and above. For joint account applicants, both parties must be 21 years old and above.

  • What are the interest rates for e$aver?

    The interest rates for e$aver are as follows:
    e$aver Deposit Interest Rate (With effect from 1 Jan 2012)

    Deposit Balance Interest Rate
    Less than S$50,000 0.10 % p.a.
    S$50,000 to S$199,999 0.15 % p.a
    S$200,000 & above 0.25 % p.a.

    Note: The Bank reserves the right to revise interest rates at any time without notice.

  • Must I keep e$aver open for a minimum period? What happens if I close e$aver within 6 months?

    There is NO lock-in period for e$aver so there is no need for you to keep e$aver open for a minimum period. Even if you close e$aver within 6 months, there is no penalty or fee.

  • Is there a monthly fee payable for e$aver?

    There is NO monthly fee payable for e$aver.

  • Is there a minimum balance that needs to be maintained on a monthly basis for e$aver?

    A fall below fee of S$5 per calendar month will be charged if your average daily balance in your e$aver account for that calendar month is less than S$1,000.

  • Will I be issued a passbook or ATM card for e$aver?

    No, you will be not issued a passbook or ATM card for e$aver as we have taken away all the things you don't need to give you unbelievably high interest rates on your savings.

  • Will I receive monthly statements for e$aver?

    No, you will not receive monthly statements for e$aver. You can view, download and print your record of transactions via Standard Chartered Online (Internet Banking).

  • How do I deposit funds into e$aver?

    You can deposit funds into e$aver via:
    • Other banks' Internet Banking, Standing Instruction (SI) or GIRO
    • Cash deposit at branches
    • Cheque mail-in or drop-off at branches
  • How do I withdraw funds from e$aver?

    You can withdraw funds from e$aver via:
    • Internet banking funds transfer to another bank account from Standard Chartered Bank (Singapore) Limited or to other GIRO-participating banks in Singapore
    • Phone banking funds transfer to another bank account within Standard Chartered Bank (Singapore) Limited
    • Cash withdrawal over the counter at branches

    Note: Cash withdrawal over the counters at branches will incur a S$5 service fee per withdrawal regardless of amount (waived for account closure).

  • Is there a charge for funds withdrawal from e$aver via a cashier's order at branches?

    Funds withdrawal from e$aver via a cashier's order (payable to yourself) at branches is free of charge.

  • Other than funds transfer, what else can my e$aver account do via Internet Banking?

    Other than funds transfer, via Internet Banking, you can also:
    • Pay your Standard Chartered credit card bills
    • Pay bills at many participating merchants
    • Check your balance and access your bank transactions online
    • Open a fixed deposit account online
  • Are there any other fees & charges for e$aver?

    Other than for cash withdrawals at branch counters (S$5 service fee per withdrawal regardless of amount), there are NO other fees and charges for e$aver.

  • What happens if my e$aver account has S$0 balance?

    If your e$aver account has S$0 balance for 30 days, then your account will automatically be closed.

  • I have an existing Standard Chartered Savings Account. Can I withdraw funds from my e$aver account with my Savings Account passbook?

    No, you cannot withdraw funds from your e$aver account with your existing Standard Chartered Savings Account passbook. You have to transfer funds from your e$aver account to your Savings Account to withdraw funds from your e$aver account.

  • I have an existing Standard Chartered Cheque & Save Account. Can I withdraw funds from my e$aver account with my Cheque & Save Account ATM card?

    Yes, you can withdraw funds from your e$aver account with your existing Standard Chartered Cheque & Save Account ATM card provided that your e$aver account is linked to your ATM card.

  • I have an existing Standard Chartered Credit Card. Can I designate my Credit Card as an ATM Card for cash withdrawal?

    Yes, you can designate your existing Standard Chartered credit card as an ATM card for cash withdrawal from your e$aver account. You must be careful that when you withdraw cash from the ATM, you select your e$aver account and not the cash advance feature.

  • Can I use my e$aver account as a repayment account for Standard Chartered's Personal Loans or Housing Loans?

    Yes, you can use your e$aver account as a repayment account for Standard Chartered's Personal Loans or Housing Loans.

  • Can I use my e$aver account as a transactional account to be linked to my Structured Deposit account/Premium Currency Investment account/Unit Trust account?

    Yes, you can use your e$aver account as a transactional account to be linked to your Structured Deposit account/Premium Currency Investment account/Unit Trust account.

  • What currencies can e$aver be opened with?

    Currently, e$aver is only available in Singapore dollars.

Some Internet Banking Queries
  • How do I transfer funds to 3rd party accounts with Standard Chartered Bank (Singapore) Limited and in other banks in Singapore via Internet Banking?

    For funds transfers to 3rd party accounts with Standard Chartered Bank (Singapore) Limited and other banks in Singapore via Internet Banking, you will need to set up the 3rd party account first. To set up 3rd party accounts, you need to ensure that your registered mobile number is updated as you need to retrieve your Additional Online PIN (AOP) with your registered mobile number for the 3rd party account to be successfully set up.

  • Is there a limit to the amount of funds that I can transfer to 3rd party accounts with Standard Chartered Bank (Singapore) Limited or other banks in Singapore via Internet Banking?

    There is a daily transfer limit. Please refer to the Transfer Limit Setting in Standard Chartered Online (Internet Banking) for your individual transfer limit.

  • For e$aver joint accounts, will the main account holder & joint account holder have their individual daily transfer limits or do they share the same transfer limit?

    For e$aver joint accounts, the main account holder & joint account holder will have their individual daily transfer limits.

  • Can I increase my Internet Banking funds transfer daily limit?

    Yes, you can increase your Internet Banking funds transfer daily limit to SGD 100,000 but this is applicable only for funds transfer to 3rd party payee accounts with Standard Chartered Bank (Singapore) Limited. To enjoy a higher daily limit, simply log in to Online Banking, go to ‘My Preferences’ and update the limit under ‘Online Security & Limits Maintenance’.

  • Can I transfer funds to 3rd party accounts with other banks outside of Singapore via Internet Banking?

    No, you can only transfer funds to 3rd party accounts with GIRO-participating banks in Singapore via Internet Banking.

  • What is Standard Chartered's Bank Code & Branch Code that should be used when I set up an Internet Banking funds transfer from 3rd party accounts with other banks to my e$aver account?

    To set up an Internet Banking funds transfer from 3rd party accounts with other banks to your e$aver account, Standard Chartered's Bank Code is 7144 and the Branch Code is 0 followed by the first 2 digits of your e$aver account number (your e$aver account number is found in your account opening confirmation letter).

  • Can I set up an Internet Banking funds transfer when I am overseas?

    No, you cannot set up an Internet Banking funds transfer when you are overseas. This is because when you try to retrieve your Additional Online PIN (AOP) when you are overseas, your mobile number will not be reflected and thus, cannot be verified for your AOP to be issued to you.

  • Once I set up an Internet Banking funds transfer to 3rd party accounts with Standard Chartered Bank (Singapore) Limited or other banks, can I transfer funds to these 3rd party accounts immediately?

    Yes, once the Internet Banking funds transfer to a 3rd party account with Standard Chartered Bank (Singapore) Limited or other banks has been successfully set up, you may proceed to transfer funds within the same day.

  • When will the funds be available in the receiving account after I do a funds transfer to 3rd party accounts with Standard Chartered Bank (Singapore) Limited via Internet Banking?

    Funds transfer to 3rd party accounts with Standard Chartered accounts via Internet Banking will take effect right after the transaction.

  • When will the funds be available in the receiving account after I do a funds transfer to 3rd party accounts with other banks in Singapore via Internet Banking?

    When you confirm your instruction before 6pm on a business day, the funds will be available to the payee 2 to 3 business days later, subject to the payee bank.

  • I transferred funds to a 3rd party account with Standard Chartered Bank (Singapore) Limited/other banks in Singapore via Internet Banking but it was unsuccessful. Why is this so?

    For funds transfers to 3rd party accounts with Standard Chartered Bank (Singapore) Limited/other banks in Singapore via Internet Banking, when you set up the 3rd party account, it is essential to provide the following information correctly: Payee Bank Code, Payee Branch Code and the Payee Account Number to effect the transfer. You are advised to contact the payee bank if you are unsure of any of the aforementioned requirements. The payee bank reserves the right to return any instructions of incomplete/invalid payee branch codes and account number.

  • What should I do if I am unable to retrieve my Additional Online PIN (AOP)?

    If you are unable to retrieve your Additional Online PIN (AOP), it may be because your registered mobile number is not updated. To update your registered mobile number, please do so online at our Internet Banking website or perform a manual submission by completing the Particulars Update Form that is available online at our Internet Banking website.

  • What is my e$aver account number? Also, I can access my e$aver account via Internet Banking but my account number is only 4 digits. Why is this so?

    Your e$aver account number (10 digits) is found in your e$aver account opening confirmation letter that will be sent to you within 7 working days from the day that you applied for the account. When you access your e$aver account via Internet Banking, only the last 4 digits of your account number will be displayed on the screen for security purposes.

  • For Internet Banking, how long will my bank transactions remain online?

    For Internet Banking, your bank transactions will remain online for 2 months.

  • How does the Bank keep customers' information safe and secure?

    The Bank takes customers' security and privacy very seriously. As such, we employ encryption technology to rigorously secure Internet Banking connections or communication between the customer and the Bank. The Bank also has processes and procedures to verify customer identity to ensure that customer requests related to their account(s) come directly from them.

  • Can I use my Internet Banking PIN to access my e$aver account via Phone Banking?

    Yes, your Internet Banking User ID is also your Phone Banking User ID so you can use your Internet Banking User ID to access your e$aver account via Phone Banking. However, please note that your Internet Banking PIN (6 digits) & Phone Banking PIN (5 digits) are separate PINs.

Deposit Insurance Scheme

With effect from 1 May 2011, the Deposit Insurance Scheme comes under the Deposit Insurance And Policy Owners' Protection Schemes Act 2011, with the following material changes:

  1. The insured deposit coverage limit has been increased to S$50,000 per depositor, per Scheme member.
  2. Insured depositors now include depositors in general (including sole proprietorships, partnerships, companies, societies and associations), except for depositors who are themselves banks.

  • What is the scope of the Deposit Insurance Scheme?

    From 1 May 2011, Singapore dollar deposits held by non-bank depositors in eligible savings, fixed deposit and current accounts will be insured up to S$50,000 per depositor in accordance with the Deposit Insurance And Policy Owners' Protection Schemes Act 2011.

  • What types of deposits are covered under the Deposit Insurance Scheme?

    Generally, all Singapore dollar deposits in savings, fixed deposit and current accounts are covered. You can find a list of eligible Standard Chartered deposit accounts on the Bank's Insured Deposit Register.

    CPFIS deposits are also eligible for separate coverage under the Deposit Insurance Scheme. However, Standard Chartered Bank (Singapore) Limited does not offer CPFIS deposits.

  • Who is covered under the Deposit Insurance Scheme?

    Depositors in general (including sole proprietors, partnerships, companies, societies and associations) are covered.

    Depositors who are themselves banks are excluded.

  • Are the deposits held by a corporate entity insured under the Deposit Insurance Scheme? Will the coverage be aggregated for a group of related entities?

    All eligible deposits held by non-bank entities, including corporate entities, will be insured up to a maximum of S$50,000 for each entity. The Deposit Insurance coverage is not aggregated for a group of related entities. The eligible deposits of each entity will be aggregated, and insured up to a maximum of S$50,000 for that entity.

  • Are foreign currency deposits covered under the Deposit Insurance Scheme?

    No. Only Singapore dollar deposits are covered under the Deposit Insurance Scheme.

  • Are structured deposits covered under the Deposit Insurance Scheme?

    No, structured deposits are not covered under the Deposit Insurance Scheme.

  • How can I find out if my Standard Chartered deposit is eligible for coverage under the Deposit Insurance Scheme?

    If your Singapore dollar deposit is in one of Standard Chartered's deposit accounts listed on the Bank's Insured Deposit Register, it will be eligible for coverage under the Deposit Insurance Scheme.

    You may refer to the Bank's Insured Deposit Register to find out if your Standard Chartered deposit account is eligible for coverage under the Deposit Insurance Scheme.

  • How much will my deposits be insured for under the Deposit Insurance Scheme?

    All eligible deposits belonging to you will be aggregated and insured up to a maximum of S$50,000.

    Example: You have (i) an individual e$aver account with a balance of S$10,000, (ii) an individual Cheque and Save account with a balance of S$10,000 and (iii) an individual Time Deposit account with a balance of S$60,000. Your aggregate deposit with Standard Chartered Bank (Singapore) Limited is S$80,000. Under the Deposit Insurance Scheme, your deposits will be insured at the cap of S$50,000.

  • How is the coverage limit calculated for joint accounts?

    For joint accounts, the deposit balance is divided equally among all account holders. Thereafter, the same rules for calculating insurance coverage for deposits belonging to individual will apply.

    Example: You have (i) an individual e$aver account with a balance of S$20,000 and (ii) a joint Cheque and Save account with a balance of S$80,000 with your spouse. For the purposes of the Deposit Insurance Scheme, both you and your spouse will be attributed half of the balance of the Cheque and Save account. Your aggregate deposit with Standard Chartered Bank (Singapore) Limited is therefore S$60,000. Under the Deposit Insurance Scheme, your deposits will be insured at the cap of S$50,000. In addition, your spouse's share of the deposit in the Cheque and Save account will be insured for S$40,000.

  • I am a sole proprietor. How will my deposits be insured?

    Deposits held by your sole proprietorship will be treated as if they were held by you. For the purposes of calculating the insurance coverage, deposits held by your sole proprietorship will be aggregated with deposits held by you in your own name.

    Example: You are the sole proprietor of ABC Company, which has a deposit of S$60,000. You also have a S$20,000 deposit in your personal account. Your deposits will be aggregated and insured at the cap of S$50,000.

  • I am a partner in a partnership. How will the partnership's deposits be insured?

    A partnership is treated as a single entity for the purpose of calculating the insurance coverage.

    Example: You are a partner of ABC partnership, which has 3 partners. The partnership has a deposit of S$60,000 with Standard Chartered Bank (Singapore) Limited, and you also have a S$20,000 deposit in your personal account. The partnership account will be insured at the cap of S$50,000, and your deposit will separately be insured for S$20,000. The partnership's deposit will not be split three ways.

  • I have a trust account. Who is treated as the depositor of the account?

    From 1 May 2011, the trustee (and not the beneficiary) will be treated as the depositor of the account.

    Coverage will be on a per account basis and will not be aggregated with other accounts held by the same trustee or with the trustee's own accounts.

    Example: You have (i) an individual e$aver account with a balance of S$20,000, (ii) Trust Accounts A with a balance of S$60,000 and your son as the beneficiary and (iii) Trust Account B with a balance of S$15,000 and your daughter as the beneficiary. Your insured deposit coverage will be based on your e$aver account only i.e. S$20,000. Separately, Trust Account A will be insured at the cap of S$50,000 and Trust Account B will be insured for S$15,000. If your son has an individual e$aver account with a balance of S$5,000, his deposit will not be aggregated with the deposit in Trust Account A. Instead, his deposit will separately be insured for S$5,000.

  • How will the deposits in client accounts be insured?

    Coverage will be on a per account basis and will not be aggregated with the depositor's own account or with other client accounts.

    Example: If a law firm maintains (i) a firm account, (ii) a client account for a client Mr Tan and (iii) another client account for a client Mr Lee, each of the three accounts will be insured up to the respective coverage limit of S$50,000.

  • I have outstanding liabilities with the Bank. How will this affect any compensation due to me under the Deposit Insurance Scheme?

    The compensation payout is based on the gross amount of insured deposits (up to the cap of S$50,000) without netting off your liabilities to the Bank.

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Speaking Up

Standard Chartered Bank (the “Bank”) is committed to maintaining a culture of the highest ethics and integrity, and in compliance with all applicable law, regulation and internal policy. As part of this commitment, the Bank has a ‘Speaking Up’ programme through which genuine concerns in this regard can be raised. Members of the public can securely raise Speaking Up concerns through this hyperlink, which is hosted on behalf of the Bank by a third party ‘InTouch’. Examples of concerns that can be raised through this website are concerns that relate to accounting, internal accounting controls or auditing matters and concerns relating to bribery or banking and financial crime. Concerns received will be forwarded to the Bank’s investigations team for review. Complaints relating to SCB banking services should not be raised through this site in the first instance, but through the SCB branch network, contact centres, Relationship Managers or the ‘Contact Us’ webpage.

Disclaimer

Please note that this hyperlink will bring to you to another website on the Internet, which is operated by InTouch, an independent company appointed by the Bank to support its Speaking Up programme. Please be mindful that when you click on the link and open a new window in your browser, you will be subject to the additional terms of use of the website that you are going to visit.

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