Frequently Asked Questions

Processes

1. 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.

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2. 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.

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3. 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.

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4. 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.

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5. 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.

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6. 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.

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7. 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.

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8. 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.

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9. 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.

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10. 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.

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11. 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.

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12. 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.

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13. 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.

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14. 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.

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15. 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.

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16. 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.

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17. 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.

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General/Product Features

1. 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.

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2. 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.

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3. 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.

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4. 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.

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5. 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.

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6. 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.

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7. Is there a monthly fee payable for e$aver?

   There is NO monthly fee payable for e$aver.

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8. Is there a minimum deposit amount required to open e$aver?

   There is NO minimum deposit amount required to open e$aver. You can open e$aver with as little as S$1.

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

   There is NO minimum balance that needs to be maintained on a monthly basis for e$aver so you can transfer your money in and out of e$aver as and when you need to.

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10. 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.

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11. 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).

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12. 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
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13. 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 or to other GIRO-participating banks in Singapore
    • Phone banking funds transfer to another bank account within Standard Chartered Bank
    • 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).

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14. 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.

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15. 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 Bank credit card bills
    • Pay bills at many participating merchants
    • Check your balance and access your bank transactions online
    • Open a fixed deposit account online
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16. 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.

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17. 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.

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

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

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19. I have an existing Standard Chartered Bank 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$aver account with your existing Standard Chartered Bank Cheque & Save Account ATM card provided that your e$aver account is linked to your ATM card.

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

    Yes, you can designate your existing Standard Chartered Bank 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.

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

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

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22. 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.

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23. What currencies can e$aver be opened with?

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

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Some Internet Banking Queries

1. How do I transfer funds to 3rd party accounts with Standard Chartered Bank and in other banks in Singapore via Internet Banking?

   For funds transfers to 3rd party accounts with Standard Chartered Bank 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.

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2. Is there a limit to the amount of funds that I can transfer to 3rd party accounts with Standard Chartered Bank 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.

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3. 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.

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4. Can I increase my Internet Banking funds transfer daily limit?

   Yes, you can increase your Internet Banking funds transfer daily limit to S$50,000 but this is applicable only for funds transfer to 3rd party payee accounts with Standard Chartered Bank. To enjoy a higher daily limit, please complete the Internet Banking Service Application Form that is available in our Internet Banking website.

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5. 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.

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6. 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).

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7. 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.

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8. Once I set up an Internet Banking funds transfer to 3rd party accounts with Standard Chartered Bank 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 or other banks has been successfully set up, you may proceed to transfer funds within the same day.

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9. When will the funds be available in the receiving account after I do a funds transfer to 3rd party accounts with Standard Chartered Bank via Internet Banking?

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

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10. 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.

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11. I transferred funds to a 3rd party account with Standard Chartered Bank/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/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.

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12. 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.

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13. 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.

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

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

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15. 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.

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16. 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.

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