[Advice Needed] CDA Account - OCBC or Std Chartered?

[angelia286]

Problem is that I have deliberating over which account to open such that I have dragged on submitting the forms for the Baby Bonus. It has been 3 months plus, coming close to 4 months since I have given birth.

So would greatly appreciate some advice from fellow forumers out there. Is OCBC better or Standard Chartered? Till now, it's kind of difficult to make up my mind on which bank to take. :shyxxx:

Any advice or help will be greatly appreciated!!

 

[megtan]

I open account with OCBC coz there's a branch near my house, more convenient to do banking e.g. deposit $$.

 

[catherlyn]

I chose ocbc too cos they hv more branches islandwide n is more assessible then stand char

 

[apollo]

same as the other mummies, i chose ocbc become it has more branches and the opening hrs is longer. =)

 

[branbens]

What kind of freebies are the 2 banks offerring? In my time all OCBC offerred was a pathetic lunch box and you had to go down personally to collect. Std Chart on the otherhand offerred u a credit card subscription for free for 2 years plus cash back of 20% for spending up to $1,000, which works out to free $200. So choice was clear for me

 

[raeka]

OCBC.. nearer to my house.

 

[redjn]

i done my in POSB before they moved on to OCBC. But I strongly believe OCBC is a better choice. most important of all they are easier to locate then SC.

 

[WinnieL]

I went for OCBC - more branches, plus they have Sunday banking, which helps a lot. So far, I think the free gifts are ok. In March, they had a beach toy set, and this month, they're giving away a beach mat.

 

[theSavvyMummy]

Hallo, I just wrote an article comparing both OCBC and Standard Chartered. You may like to take a look. =)

OCBC or Standard Chartered Bank for my Child Development Account? « The Savvy Mummy

Thanks!

 

[chipee]

:smile:OCBC .. cos the outlet near my place operates daily. Next time, children can oso get gift for their mighty save acct.

 

[zenmoonflower]

I've been wondering about the Baby Bonus. I got mine with OCBC, but my baby is already 5 months old and it seems they haven't given the $4000 cash gift yet. At the most only $1000. How long should it take them to give it? Also, I can't really understand the bank statement they send. The amount I put in my son's CDA, the government should match it dollar for dollar, right? But the amount doesn't seem right. How should I ask about this?

 

[theSavvyMummy]

You can try calling the Baby Bonus Branch, MCYS (Hotline: 1800-253 7707).

 

[moncheri03]

Did i understand correctly that upon admission to the hospital for delivery, i have to bring along my Bank Book so that the admission staff in the hospital able to fill up the CDA form for me to apply thru the bank? Thanks

 

[cmeilim]

my choice was based on freebies like branben's case. stanchart's deal was much better. we have both SC and OCBC branches near our home, so no issue.

 

[theSavvyMummy]

Dear Moncher, apparently yes. You need to bring either your bank book or latest original bank statement. See extract from Baby Bonus website below:


[FONT=Verdana, Arial, Helvetica, sans-serif]Besides the documents require for birth registration, please bring the following documents for Baby Bonus:
[FONT=Verdana, Arial, Helvetica, sans-serif]a. Completed Form baby[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]Important: Please check with your bank for the correct bank and branch code of the account to credit the cash gift; [/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]b. Completed CDA application form of either OCBC Bank or Standard Chartered (if you are a Singapore Citizen or Permanent Resident and the parent of the child. All your children born on or after 17 August 2008 will be eligible to open a CDA. If your child was born on or after 1 August 2004 but before 17 August 2008, he or she will be eligible to open a CDA if he or she is your second to fourth child);[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]c. Bank book or latest original bank statement of the parent or a nominated third person into whose account the cash gift is to be deposited and copy of the bank book (page [/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]with account number and name) or bank statement; and[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]d. Copy of Singapore citizenship certificate of mother if applicable (i.e. if a mother is not a citizen by birth). [/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]Additional Documents for Submission[/FONT]
a) Form baby: Attach a copy of mother's citizenship certificate (if applicable) and a certified copy of your bank book/bank statement; and
b) CDA application form: Attach certified copies of your NRIC, your child's birth certificate and your bank book/bank statement.

[FONT=Verdana, Arial, Helvetica, sans-serif]Please also note that if the parent is a foreigner or if a third person (not either of the parents) is nominated as the trustee to receive the cash gift and manage the CDA, he/she does not need to submit the CDA application form. MCYS will write to him/her to open the CDA at the bank branch.[/FONT]

[/FONT]

 

[eurostar]

so can I say if I opt to use my current ocbc acc, they will deduct 6k to CDA ?

 

[wuming79]

Hi everyone, it seems that the benefits from both banks changes every year. Does any one has a full comparison of both CDA accounts for present time? I can't find any insurance benefits anymore.