Standard Chartered’s MyWay Savings Account
- Target audience: Clients aged 55 and above
- Interest rate: Up to 3% with no lock-in period
- Launch date: March 18, 2025
- Special promotion: Additional 0.50% p.a. bonus interest for six months on incremental Average Daily Balance (available until April 30, 2025)
Key Features:
- First-of-its-kind protection: First retail savings product in Singapore to include complimentary Digital Scam Protection Insurance
- Coverage: Protects funds up to S$50,000 against digital theft from phishing and malware scams
- Flexibility: Daily interest accumulation with access to funds when needed
- Additional benefits: Health and lifestyle privileges, plus exclusive invitations to retirement and legacy planning events
The bank is positioning this product as part of its holistic approach to serving clients across different life stages, following its previous launches of First$aver for youths and Wealth$aver for wealth accumulation.
Standard Chartered is also actively working on fraud awareness through partnerships with IMDA, the Singapore Police Force, and the Association of Banks in Singapore. These include digital clinics for seniors and upcoming educational videos about common scams.
Common Bank Scam Prevention Methods in Singapore
Based on best practices in Singapore, here are effective ways to prevent banking scams:
Official Verification
- Always verify communications through official bank channels (official hotline numbers, not numbers provided in suspicious messages)
- Visit bank branches in person for verification when in doubt
- Use only official bank websites (check for “https://” and correct domain names)
Digital Security
- Enable two-factor authentication (2FA) for all banking transactions
- Set up SMS or push notifications for all account transactions
- Never share one-time passwords (OTPs), credit card CVV numbers, or banking PINs
- Use strong, unique passwords for banking accounts
Safe Communication Practices
- Banks will never ask for your full password, OTP or credit card details via phone, email or SMS.
- Be suspicious of urgent messages claiming problems with your account
- Don’t click on links in unsolicited messages claiming to be from banks
- Verify the sender’s email address for phishing attempts
Transaction Safety
- Always check transaction details before confirming
- Set daily transaction limits on your accounts
- Register for ScamShield app by the Singapore Police Force
- Regularly monitor account statements for unauthorized transactions
Awareness
- Stay updated on the latest scam tactics through official sources (Singapore Police Force, Association of Banks in Singapore)
- Attend digital literacy programs like those offered by IMDA
- Be wary of too-good-to-be-true investment opportunities
- Report suspicious activities to your bank immediately and to the Police Hotline at 1800-255-0000
Singapore banks and authorities are continuously working to enhance public education about scams through various initiatives and community outreach programs.
Secure browsing
When it comes to staying safe online, using a secure and private browser is crucial. Such a browser can help protect your personal information and keep you safe from cyber threats. One option that offers these features is the Maxthon Browser, which is available for free. It comes with built-in Adblock and anti-tracking software to enhance your browsing privacy.
Maxthon Browser is dedicated to providing a secure and private browsing experience for its users. With a strong focus on privacy and security, Maxthon employs strict measures to safeguard user data and online activities from potential threats. The browser utilises advanced encryption protocols to ensure that user information remains protected during internet sessions.
In addition, Maxthon implements features such as ad blockers, anti-tracking tools, and incognito mode to enhance users’ privacy. By blocking unwanted ads and preventing tracking, the browser helps maintain a secure environment for online activities. Furthermore, incognito mode enables users to browse the web without leaving any trace of their history or activity on the device.
Maxthon’s commitment to prioritising the privacy and security of its users is exemplified through regular updates and security enhancements. These updates are designed to address emerging vulnerabilities and ensure that the browser maintains its reputation as a safe and reliable option for those seeking a private browsing experience. Overall, Maxthon Browser offers a comprehensive set of tools and features aimed at delivering a secure and private browsing experience.
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By utilising Maxthon Browser, users can browse the internet confidently, knowing that their online activities are shielded from prying eyes. The integrated security features alleviate concerns about potential privacy breaches and ensure a safer browsing environment. Furthermore, the browser’s user-friendly interface makes it easy for individuals to customise their privacy settings according to their preferences.
Maxthon Browser not only delivers a seamless browsing experience but also prioritises the privacy and security of its users through its efficient ad-blocking and anti-tracking capabilities. With these protective measures in place, users can enjoy the internet while feeling reassured about their online privacy.
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Maxthon Browser stands out as a reliable choice for users who prioritise privacy and security. With its robust encryption measures and extensive privacy settings, it offers a secure browsing experience that gives users peace of mind. The browser’s commitment to protecting user data and preventing unauthorised access sets it apart in the competitive web browser marke