<![CDATA[CDA account for children]]>which bank do u think is better to go for?

OCBC or Standard carter?
looking at their web site both of them look great to me


is it better to contribute bit by bit or to put in a lump sum of $?

]]>https://forum.kiasuparents.com/topic/822/cda-account-for-childrenRSS for NodeFri, 01 May 2026 09:12:13 GMTFri, 15 Aug 2008 14:30:03 GMT60<![CDATA[Reply to CDA account for children on Thu, 08 Apr 2010 06:21:34 GMT]]>sashimi chose OCBC for DD2, sthg abt not liking StanChart but can’t rem the details now. The child’s account is opened automatically when you open a CDA account with them but we can’t be bothered to put anything inside the normal child’s account. They even mailed me a letter to ask me to collect the bankbook/card, can’t rem which, but what for? We opened an account with UOB way back for DD1 so naturally, for DD2, we used UOB too, for convenience, and we like their service. The OCBC CDA account is just for us to pay for vaccinations, etc. I’m sure if UOB had a CDA account, we’ll choose that instead.

]]>https://forum.kiasuparents.com/post/156096https://forum.kiasuparents.com/post/156096Thu, 08 Apr 2010 06:21:34 GMT<![CDATA[Reply to CDA account for children on Thu, 08 Apr 2010 01:11:11 GMT]]>We gave up on the might savers sticker thing. Eg sticker card for every $20. The limit is twice a month so max $40? Also when it comes to CNY or birhtday when the kids put in their red packet, they feel cheated of not getting more gifts :roll:


After a while, I really lost track of the cards. The kids now save not because of the gifts but because they want to see their bank balance grow.

The bank teller once asked me how do I make my kids save??? I told her, they are all very $ face. :faint: Pros and cons.

I like OCBC mainly because of their network, open till 7pm and also the sunday banking. But I think SC also has sunday banking now ?

]]>https://forum.kiasuparents.com/post/155924https://forum.kiasuparents.com/post/155924Thu, 08 Apr 2010 01:11:11 GMT<![CDATA[Reply to CDA account for children on Thu, 08 Apr 2010 00:43:48 GMT]]>Hi,


Mine at OCBC..

They do give some like : sticker / game / storybook & blah blah blah to kids [per saving]. 😉


My practice is only deposit once a month, to collect the difference gift... 😛
[min $20 entitled to a gift for kid]

I am refering to OCBC MightySaver A/c... :celebrate:

]]>https://forum.kiasuparents.com/post/155899https://forum.kiasuparents.com/post/155899Thu, 08 Apr 2010 00:43:48 GMT<![CDATA[Reply to CDA account for children on Wed, 07 Apr 2010 14:08:47 GMT]]>hm… so which bank is good. OCBC or Standard Chartered Bank.


Quite confusion over here.

]]>https://forum.kiasuparents.com/post/155802https://forum.kiasuparents.com/post/155802Wed, 07 Apr 2010 14:08:47 GMT<![CDATA[Reply to CDA account for children on Wed, 07 Apr 2010 13:03:59 GMT]]>Funz,

you are welcome. govt policies keep changing…good to keep one another updated. 😎

]]>https://forum.kiasuparents.com/post/155768https://forum.kiasuparents.com/post/155768Wed, 07 Apr 2010 13:03:59 GMT<![CDATA[Reply to CDA account for children on Wed, 07 Apr 2010 12:05:16 GMT]]>

jedamum:
Funz:

[quote=\"caroline3sg\"]sleepy

all kids reaching P1, CDA account would be closed. Can withdraw the leftover money. If not, it would be transferred to PSEA (post sec edu acc).

Nope CDA $ cannot be withdrawn. It will automatically be transferred to edusave and if not used to PSEA and if still not used to your child's CPF.

http://app.customerfeedback.mcys.gov.sg/bbs_faqmain.asp?strItemChoice=2004119171752&strSubItemChoice=2004119171812&action=SHOWTOPICS&m_strTopicSysID=2008722131821#2004119171812

For children born from 2001-2007, the trustees will receive an option at their official address (as maintained by the Ministry of Home Affairs) in November in the year the child turns 6 years of age to choose to transfer the CDA balance into the PSEA or to withdraw the amount in cash.[/quote]thks. didn't know that.

]]>https://forum.kiasuparents.com/post/155756https://forum.kiasuparents.com/post/155756Wed, 07 Apr 2010 12:05:16 GMT<![CDATA[Reply to CDA account for children on Wed, 07 Apr 2010 11:45:37 GMT]]>

Funz:
caroline3sg:

sleepy

all kids reaching P1, CDA account would be closed. Can withdraw the leftover money. If not, it would be transferred to PSEA (post sec edu acc).

Nope CDA $ cannot be withdrawn. It will automatically be transferred to edusave and if not used to PSEA and if still not used to your child's CPF.

http://app.customerfeedback.mcys.gov.sg/bbs_faqmain.asp?strItemChoice=2004119171752&strSubItemChoice=2004119171812&action=SHOWTOPICS&m_strTopicSysID=2008722131821#2004119171812

For children born from 2001-2007, the trustees will receive an option at their official address (as maintained by the Ministry of Home Affairs) in November in the year the child turns 6 years of age to choose to transfer the CDA balance into the PSEA or to withdraw the amount in cash.

]]>https://forum.kiasuparents.com/post/155751https://forum.kiasuparents.com/post/155751Wed, 07 Apr 2010 11:45:37 GMT<![CDATA[Reply to CDA account for children on Wed, 07 Apr 2010 10:51:33 GMT]]>

caroline3sg:
sleepy

all kids reaching P1, CDA account would be closed. Can withdraw the leftover money. If not, it would be transferred to PSEA (post sec edu acc).
Nope CDA $ cannot be withdrawn. It will automatically be transferred to edusave and if not used to PSEA and if still not used to your child's CPF.

]]>https://forum.kiasuparents.com/post/155726https://forum.kiasuparents.com/post/155726Wed, 07 Apr 2010 10:51:33 GMT<![CDATA[Reply to CDA account for children on Wed, 07 Apr 2010 09:41:41 GMT]]>Hey, like to find. Which bank your put your CDA for your child. Is MSIG insurance okay for SCB but OCBC Great Eastern seemed okay. But MSIG got this Hand Mouth … $50 thing.


Which is good.

]]>https://forum.kiasuparents.com/post/155666https://forum.kiasuparents.com/post/155666Wed, 07 Apr 2010 09:41:41 GMT<![CDATA[Reply to CDA account for children on Sat, 14 Mar 2009 07:31:12 GMT]]>

jedamum:
mamalade:

[quote=\"sleepy\"]2002 kids (P1 this year) no CDA account leh

If I remember correctly, baby bonus only for kids from 2004

errr... my daughter does have a CDA account. Born 2002.

my 2002 boy does not have a CDA account.

sleepy,
i think those 2002 kids that are not firstborn then have baby bonus....
mamalade, i think your http://www.kiasuparents.com/kiasu/forum/viewtopic.php?t=1756 is not firstborn 😉[/quote]keke....ya she's my second child.... didn't realise there was a difference!!

]]>https://forum.kiasuparents.com/post/20011https://forum.kiasuparents.com/post/20011Sat, 14 Mar 2009 07:31:12 GMT<![CDATA[Reply to CDA account for children on Sat, 14 Mar 2009 05:59:29 GMT]]>

mamalade:
sleepy:

2002 kids (P1 this year) no CDA account leh

If I remember correctly, baby bonus only for kids from 2004

errr... my daughter does have a CDA account. Born 2002.

my 2002 boy does not have a CDA account.

sleepy,
i think those 2002 kids that are not firstborn then have baby bonus....
mamalade, i think your http://www.kiasuparents.com/kiasu/forum/viewtopic.php?t=1756 is not firstborn 😉

]]>https://forum.kiasuparents.com/post/20008https://forum.kiasuparents.com/post/20008Sat, 14 Mar 2009 05:59:29 GMT<![CDATA[Reply to CDA account for children on Sat, 14 Mar 2009 05:36:03 GMT]]>sleepy

all kids reaching P1, CDA account would be closed. Can withdraw the leftover money. If not, it would be transferred to PSEA (post sec edu acc).

]]>https://forum.kiasuparents.com/post/20006https://forum.kiasuparents.com/post/20006Sat, 14 Mar 2009 05:36:03 GMT<![CDATA[Reply to CDA account for children on Thu, 12 Mar 2009 23:18:10 GMT]]>

sleepy:
2002 kids (P1 this year) no CDA account leh

If I remember correctly, baby bonus only for kids from 2004
errr... my daughter does have a CDA account. Born 2002.

]]>https://forum.kiasuparents.com/post/19881https://forum.kiasuparents.com/post/19881Thu, 12 Mar 2009 23:18:10 GMT<![CDATA[Reply to CDA account for children on Thu, 12 Mar 2009 09:03:55 GMT]]>2002 kids (P1 this year) no CDA account leh

If I remember correctly, baby bonus only for kids from 2004

]]>https://forum.kiasuparents.com/post/19834https://forum.kiasuparents.com/post/19834Thu, 12 Mar 2009 09:03:55 GMT<![CDATA[Reply to CDA account for children on Thu, 12 Mar 2009 08:50:18 GMT]]>hi! thanks for the reply! yep… my daughter in P1. My hubby recalled that he received a letter about the closure of the OCBC account but did not follow up on that thus why MCYS took control of the $$ in that account. So I called up MCYS the other day and they told me that we would be informed about the status of the $$ that’s with them via letter. So as far as OCBC is concerned, we no longer have an account under her name. So right now, dun know what’s happening.

]]>https://forum.kiasuparents.com/post/19828https://forum.kiasuparents.com/post/19828Thu, 12 Mar 2009 08:50:18 GMT<![CDATA[Reply to CDA account for children on Thu, 12 Mar 2009 08:43:49 GMT]]>mamalade

Is your child in P1 this yr? If yes, the CDA (in OCBC/Standchart) would be closed, transferred to MCYS (govt) then finally into your designated account. The designated account is the account you transfer money to CDA, or other account which you have to indicate on the letter and get your bank’s chop and mail to OCBC/Standchart or MCYS. So perhaps you have forgotten about the letter. I remembered several letters were mailed to me.

]]>https://forum.kiasuparents.com/post/19824https://forum.kiasuparents.com/post/19824Thu, 12 Mar 2009 08:43:49 GMT<![CDATA[Reply to CDA account for children on Thu, 12 Mar 2009 07:37:41 GMT]]>My daughter's CDA account was with OCBC. As mentioned, what you put in, the govt will match that amount. Then suddenly earlier this year, that account was closed and now transferred to MCYS (govt) who is holding her account for future education use... we are supposed to receive a letter regarding it but have not so far. Somehow I feel it strange that the $$ was \"taken away\" where part of it is still my husband's cash contribution. :roll: I would have expected the bank to hold the account for her but now we have to go and open another bank account for her. Anyone here knows anything about it?

]]>https://forum.kiasuparents.com/post/19814https://forum.kiasuparents.com/post/19814Thu, 12 Mar 2009 07:37:41 GMT<![CDATA[Reply to CDA account for children on Tue, 10 Mar 2009 17:34:21 GMT]]>I prefer StandChart…

]]>https://forum.kiasuparents.com/post/19597https://forum.kiasuparents.com/post/19597Tue, 10 Mar 2009 17:34:21 GMT<![CDATA[Reply to CDA account for children on Tue, 10 Mar 2009 12:42:37 GMT]]>I went with Standchart…due to accessibility. Would love to go with OCBC .


Caroline3sg- govt will match you. Meaning if you bank in 6k for your 2nd child, govt will cap at 6K and 3rd child 12k.

]]>https://forum.kiasuparents.com/post/19575https://forum.kiasuparents.com/post/19575Tue, 10 Mar 2009 12:42:37 GMT<![CDATA[Reply to CDA account for children on Tue, 10 Mar 2009 09:27:26 GMT]]>I chose ocbc bank. 😉

]]>https://forum.kiasuparents.com/post/19556https://forum.kiasuparents.com/post/19556Tue, 10 Mar 2009 09:27:26 GMT<![CDATA[Reply to CDA account for children on Sat, 31 Jan 2009 02:10:01 GMT]]>

tanlengleng:
I chose OCBC cause I have their ibanking facility.

same here....

]]>https://forum.kiasuparents.com/post/15330https://forum.kiasuparents.com/post/15330Sat, 31 Jan 2009 02:10:01 GMT<![CDATA[Reply to CDA account for children on Fri, 30 Jan 2009 18:40:36 GMT]]>I chose OCBC cause I have their ibanking facility.

]]>https://forum.kiasuparents.com/post/15303https://forum.kiasuparents.com/post/15303Fri, 30 Jan 2009 18:40:36 GMT<![CDATA[Reply to CDA account for children on Mon, 18 Aug 2008 02:36:50 GMT]]>Seems StandChart is better but I chose OCBC due to accessibility. In fact, I think a few weeks days ago, same comments came out in the newspapers.


To put in lump sum or bit by bit, it depends on your cashflow. I don’t think if you put lump sum, govt would put lump sum, right? But it happens to my last $1000 which MCYS sent me a letter so I went for it.

The other thing is to time the deposit with usage. I used up all the money for Kinderland Child Care.

]]>https://forum.kiasuparents.com/post/6008https://forum.kiasuparents.com/post/6008Mon, 18 Aug 2008 02:36:50 GMT