Thanks. So as always, the golden rule, if it sounds too good to be true then it is not true, one more time is valid

That means you pay them RM 750 and get RM 500 bonus interest. Can believe. But no deal for me of cause.



I would call the reduction from 12 to 3 month the key change

This post has been edited by David_Yang: Jan 14 2021, 10:20 AM

When I see RM 30000, it has already turned me off.

The rest of the details no longer relevant to me as I have no more further interest to consider/read for it.

If you know what you are doing and have a thorough explanations of the products, the bonus interest is simply an icing on top.

I had the same perception many years ago until I meet a good RM who introduced the investment and explained the entire subscription.

And so far, still have 3 running out of 5.
Averagely two of them are making returns of around 6% yearly for the past 5 years.
While the other one which I subscribed two years ago was giving returns of ~4%pa, after May, it has jumped to almost 14% as of Dec 20.

Disclaimer: This is not an advertisement nor enticing anyone to buy without understanding the risk. Just sharing my two cents.

But we can buy said products for much less SC by ourselves online.

Anyone knows how to check whether debit card is tagged to PSA account? And how to tag it if not already tagged?

Fastest way to check with CS via Live Chat.
If it not tagged, I don't think you can withdraw money at ATM from your PSA account.

This post has been edited by GrumpyNooby: Jan 15 2021, 01:20 PM

You are mixing up things a little bit, there is product, there is cost and there is benchmark.

First of all these are simple products, nothing special. It is like buying a Samsung TV, maybe in Tesco you get it for 2999, at AEON you pay 3499. Both just sell the same TV, maybe a good choice that can satisfy you for many years, no matter if you paid 2999 or 3499.

I would not call the costs "icing on a cake". It is just cost.

In our case the costs can be up to 5.xx % sales charge. SC now is charging 2.50, maybe at CIMB can get for 1.00. A pure online sales platform can be cheaper, sometimes even 0.00, but certainly has some disadvantages also. It is our hard earned money, so certainly we compare and want to find a good deal. The product itself anyway is neither from CIMB nor from SC.

Finally benchmark. The banks want sales charges from us, the investment company wants to collect high management fees from us, so they better perform good. At least as good as the market. So a pure number of percentage gain or loss is useless. Also for your personal calculation. Ignore the benchmark that the funds company set up for their marketing material, that always makes look them shiny.

So a "returns of around 6% yearly for the past 5 years" sounds not too exciting, as the most basic benchment, the MSCI World Index made 12% yearly:
https://www.ishares.com/us/products/239696/...-msci-world-etf

Certainly that is 100% stock based, maybe your stuff was more conservative, cannot compare.

But what we can and should compare is costs. And that is the point at this topic, last year the Wealth/Invest Bonus from SC was attractive, under the new conditions at least for me it is not.

This post has been edited by David_Yang: Jan 15 2021, 06:05 PM

To qualify for the 0.9% interest for debit card spend..there is no requirement to tag the card to the PSA right?

Clause 15: 15. The Promotion Account must be tagged to a debit card as primary account to be eligible for the Card Spend Bonus Interest/Hibah.

thanks!
Will call my RM to check if my debit card is tagged.
Remember though I've asked her to deactivate whatever functions that can be deactivated

Deactivated functions does not mean that the debit card is not tagged to PSA.

SMS communication is out:

.yeah...I suspect the debit card may have been tagged as RM said it was compulsory although I had no use of it.
Anyway no harm checking ..

thanks again 😊

How to know whether the debit card is tagged? I applied PSA account then stanchart give me the debit card, is it auto-tagged?

Thanks, is there any link on how the debit card can be used? I think I’ve only used mine as an ATM card - any activation needed for payments?

Should be auto-tagged if you have only one account with SC.
Otherwise can check with CS.

Under Card Management>Debit Card Settings in SC Mobile app. Changes won't take effect immediately.
Otherwise can check with CS.

This post has been edited by GrumpyNooby: Jan 16 2021, 09:43 AM

Login your app > Help and services > Card Management > Debit Card Settings. There, you can set your txn limit etc, but for online payment to be activated, you need to opt in for "Card Not Present". then wait for 2 or 3 days.

Thank you very much! Grumpy!

I think if u have multiple acc, u can try to use the debit card n see which acc it is deducted.. then u will know whether the debit card is tagged to PSA

Thanks. Btw, I saw some previous messages in the forum on two debit cards - is 5 retail transactions on 1 debit card enough?