ocbc 360 account

tuanhong

Junior Member
Joined
Jul 2, 2001
Messages
86
Reaction score
0
I just opened DBS multiplier in Mar and changed Salary crediting account. Now in Apr, switch to ocbc 360. My HR must think I xiao already.
 

dork32

Supremacy Member
Joined
Jan 27, 2010
Messages
9,133
Reaction score
1,333
Now with the FAST system, switch banks only takes "a few seconds".

fast is only for fund transfer.

I need to open account.
I need to like this account to all the accounts that I have
I need to fill up forms at the HR
all this takes time. it is very troublesome.
 

chinnian

Senior Member
Joined
Jun 22, 2005
Messages
1,056
Reaction score
7
Yes. All these can be a hassle for busy people. But to earn that 3.05% then we gotta do some work. Just hope the rate don't drop too soon.


fast is only for fund transfer.

I need to open account.
I need to like this account to all the accounts that I have
I need to fill up forms at the HR
all this takes time. it is very troublesome.
 

RayOfLight

Senior Member
Joined
Apr 22, 2005
Messages
1,473
Reaction score
0
quick check.. insurance paid monthly via ocbc credit card consider consider the $400 spending?
 

pinpinpin

Suspended
Joined
Mar 1, 2013
Messages
4,014
Reaction score
1
U r absolutely right.

But now with fast, everything can be shifted FAST!

Just adjust the limit of the internet transfer, although it is $25k for some banks per day.

Over 2 days the money of $50k will be out instantly.

The OCBC 360 Account is the best deal to get higher interest rates for deposits for a while (at least last 5 years). The requirements are easy to fulfill and maximum deposit of $50k (eligible for bonus interest) is relatively high compared to similar deposit accounts.

However, please be warned that OCBC can change the terms to fulfill the bonus interest rates OR even the bonus interest rate at their own discretion. Like all promotions, they usually quietly take away the perks after a while when they have fulfilled their quota.

To back up what I said, OCBC lowered the interest rates for OCBC FRANK account some time after it was launched and now the FRANK account gives negligible rates for deposits. THE OCBC 360 account has been around for a while and its interest rate on deposits was also quite low until they come up with this promotion. It is completely within OCBC control to change the terms in the bank account as they wish.

However, for those who don't mind the hassle of closing the account after they take away the perks, the interest rate is still an attractive offer.

Just my 2c:)
 

cloud77

Arch-Supremacy Member
Joined
Jul 10, 2000
Messages
16,468
Reaction score
77
U r absolutely right.

But now with fast, everything can be shifted FAST!

Just adjust the limit of the internet transfer, although it is $25k for some banks per day.

Over 2 days the money of $50k will be out instantly.

does it apply for dbs bank too ? I thought the max limit for FAST is 10K per day for DBS bank, or maybe I am mistaken.
 
Last edited:

cloud77

Arch-Supremacy Member
Joined
Jul 10, 2000
Messages
16,468
Reaction score
77
I just opened a 360 account too, can I check with you all

a. For the 3 transaction requirement,

1. What happens if I made multiple payment to offset my credit card bill (ie, I make 2 payment a month to clear my CC bill rather than once a month after closing). Does it count as one transaction or multiple transaction (to hit the 3 no) ?

2. If I create recurring Giro payment for conservancy charges to this 360 account, does it qualify for this 3 transaction ?

b. For the min $400 requirement, does the supplementary card amount also count in (the main account is the principal account holder for this 350 account) ?

Thanks :)
 

pinpinpin

Suspended
Joined
Mar 1, 2013
Messages
4,014
Reaction score
1
does it apply for dbs bank too ? I thought the max limit for FAST is 10K per day for DBS bank, or maybe I am mistaken.

U need to set the transfer limit per day.

10k per transaction. But u get do it till hit the max transfer limit.
 

MoDiE

Supremacy Member
Joined
Jul 15, 2000
Messages
8,384
Reaction score
28
Hi OCBC Greg,

i opened my 360 account on 3rd april. prior to that, i spent 1000+ on my frank card on 31st march and was posted on ibanking on 2nd april. frank card will be billed on 30th april.

does this mean i have already hit the $400 spend criteria?
 

Asakura

Great Supremacy Member
Joined
Jan 28, 2004
Messages
58,310
Reaction score
438
ocbc has the worst service, from what i have experienced. their bankers tend to be far more judgemental; yes i know, it's a bank. let me tell u sth that has happened to me and my mother. my mother is a premier customer (i know, no big hoot, esp with ocbc being the most wanton and have the lowest criteria). i accompanied her to a particular branch (dont want to name which branch, but those who edmw knows i stay hougang, so make ur rough guesses, the branch is close proximity). we walked into the premier side, and u know what did the staff said? the staff told us that the entrance is the other side for us. just because my mom isnt well dressed and decked in chanel she assumed she's not a premier customer? just because I wasnt in armani or gucci so i cant be a premier customer? way to look down on us. i can understand that some blur mass customer may open the door to premier side unknowingly, but really, OCBC service staff dont have the tact to say it another way other than telling us to go to the mass side? straight away assume we're poor? is OCBC hiring people with no common sense? and when i replied that my mum is a premier customer, the staff merely said "oh. i see". my experience with dbs and scb has been much better, and I have very little money there.

i know all these sounds very personal, but tell me, if ur experience has been nothing but bad with a particular bank/company or even just a hawker stall, what are the chances of u trusting their stuff and staff?

this kinda thing happens in other banks too.
and other retail outlets.
 

bobby6679

Junior Member
Joined
Apr 8, 2014
Messages
90
Reaction score
2
interest calculation timing

Hi OCBC Greg,

If I pay my 3 bills on Apr 4, Apr 17 and Apr 25 and my salary credited on Apr 25.

On Apr 4 my 360 account balance is 2000, On Apr 27 it is 1500, after Apr 25 it is 6000.

How much is the interest for Apr, when will it be credited into my account?

Thanks,
Bobby
 
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Community Guidelines and Standards, Terms of Service and Member T&Cs for more information.
Top