ocbc 360 account

[70niner]

so 12 is when they pay Bonus interest
but i only get few cent

If ur salary is already credited last month, u should already be minimally getting the Salary bonus this month, which is quite substantial

 

[ekardo]

sucks, I am only getting 3.98% instead of 4.6%

salary 2.07% vs 2.5%
save 1.24% vs 1.5%
spend 0.62% vs 0.6%

cannot understand why spend can higher percentage than salary and save...thot should be same base ?

 

[Mickey01]

sucks, I am only getting 3.98% instead of 4.6%

salary 2.07% vs 2.5%
save 1.24% vs 1.5%
spend 0.62% vs 0.6%

cannot understand why spend can higher percentage than salary and save...thot should be same base ?

Salary 2.5% & Save 1.5% is applicable only if you have exactly $100,000 ADB in your account.

 

[ekardo]

Salary 2.5% & Save 1.5% is applicable only if you have exactly $100,000 ADB in your account.

oh you are right...why did I note down as 2.5% and 1.5%...

so UOB is actually better for < 100k ?

 

[Mickey01]

oh you are right...why did I note down as 2.5% and 1.5%...

so UOB is actually better for < 100k ?

think so ..... if you input dollar amount into the respective online calculator and the eligibility criteria

 

[mikezuper]

Interest in but it's $55 less than expected shown their website.

I didnt get the save bonus this month even though i had deposited $600 in early Mar2023 and only take out the interest and salary when they were credited in.

why ah?

 

[mikezuper]

ADB cannot be negative lah. ADB change over previous month can be negative. It is very straightforward, there is no rocket science.

Look at my example below.

1st Apr balance was 1k
2nd Apr balance was 1k
3rd Apr balance was 0.

So ADB as of 3rd Apr is (1k+1k+0)/3 = 666.66

Mar ADB was 1k.

So change in ADB = -333.34

So simple.

If you want to calculate yours just do the same thing, take the end of day balance of each day in a month and divide by number of days in the month. If you opened you account in the middle of a month, then just consider the days from the date of opening. There is nothing more to it.

I put $600 on 1st Mar and only took out int and salary one day after being credited, so by right my incremental is more than $600, but I didnt get the Mar2023 save bonus.

I am trying to call OCBC on this. Past few months has no problem.

 

[revhappy]

I put $600 on 1st Mat and only take out int and salary one day after being credited, so by right my incremental is more than $600, but I didnt get the Mar2023 save bonus.

I am trying to call OCBC on this. Past few months has no problem.

That is strange indeed. Did you not make any transactions at all the whole of Mar? So just 1 inflow of $600 on 1st mar and then outflow salary & int credit and no other transactions?

 

[mikezuper]

That is strange indeed. Did you not make any transactions at all the whole of Mar? So just 1 inflow of $600 on 1st mar and then outflow salary & int credit and no other transactions?

Yeah, no other transactions. Will call ocbc later and update.

My first two calls earlier was cut halfway after getting hold of the cust service

 

[Mickey01]

I put $600 on 1st Mar and only took out int and salary one day after being credited, so by right my incremental is more than $600, but I didnt get the Mar2023 save bonus.

I am trying to call OCBC on this. Past few months has no problem.

which day of mar 2023 did u deposit the $600?

 

[mikezuper]

which day of mar 2023 did u deposit the $600?

1st Mar 2023

 

[savinmax]

one possibility could it be that the $600 was captured as 28 Feb deposit ?
else if indeed no other transactions and salary / interest were withdrawn on exact value - no reason why Save Up not counted.

 

[Mickey01]

1st Mar 2023

1. Oh ... so with this $600 deposit, your Mar ADB is aready $600 (more than the min $500)
2. Then if your int credit/debit & salary credit/debit is net $0, it should not affect the $600 ADB

probably OCBC mistake ... strange ...

 

[70niner]

1st Mar 2023

My guess is on 1 Mar, your closing balance is $600 more than the 28 Feb balance, but not the entire Feb ADB.

As an example, say these are the closing balances:

1-14 Feb closing bal : $2000
15-28 Feb closing bal: $1500 (withdraw $500 on 15 Feb)

Feb ADB = $1750

1-31 Mar closing balance = $2100 (deposit $600 on 1 Mar to 28 Feb bal of $1500)

Mar ADB = $2100

ADB increase in Mar = 2100 - 1750 = 350

Ppl normally can mix-up the ADB for the month vs the closing balance on the last day of the month (in the above example 1750 vs 1500)

 

[mikezuper]

one possibility could it be that the $600 was captured as 28 Feb deposit ?
else if indeed no other transactions and salary / interest were withdrawn on exact value - no reason why Save Up not counted.

Nope, the transfer done on 1st Mar how could it be backdated to Feb?

 

[mikezuper]

My guess is on 1 Mar, your closing balance is $600 more than the 28 Feb balance, but not the entire Feb ADB.

As an example, say these are the closing balances:

1-14 Feb closing bal : $2000
15-28 Feb closing bal: $1500 (withdraw $500 on 15 Feb)

Feb ADB = $1750

1-31 Mar closing balance = $2100 (deposit $600 on 1 Mar to 28 Feb bal of $1500)

Mar ADB = $2100

ADB increase in Mar = 2100 - 1750 = 350

Ppl normally can mix-up the ADB for the month vs the closing balance on the last day of the month (in the above example 1750 vs 1500)

I think this is the only plausible explanation, I think just move to UOB one, less headache.

Just discussed with my friend, I forgot to transfer out the int and salary immediately on the same day and that caused the ADB to be higher than $600 provisioned.

 

[PC-User]

I think this is the only plausible explanation. I think just move to UOB one, less headache.

Just use desktop login to check the current month ADB increase during the last one two days of the month to confirm. If marginally miss still able to adjust.

 

[mikezuper]

Just use desktop login to check the current month ADB increase during the last one two days of the month to confirm. If marginally miss still able to adjust.

Yeah but that will cost me time, UOB easier

 

[benlau1]

I didnt get the save bonus this month even though i had deposited $600 in early Mar2023 and only take out the interest and salary when they were credited in.

why ah?

Same as me...

and I realise the reason was because in Feb, when i transfer my salary out- the value date was one day later which pushed up my MAB in Feb higher so when compared to MAB in March; it was not $500 higher even though i transfer in $550 on 1 March 2023.

A bit annoying la... I transfer my salary out on 23 Feb but the value date was 24 Feb even though the receiving bank received the funds on 23 Feb also

 

[mikezuper]

Same as me...

and I realise the reason was because in Feb, when i transfer my salary out- the value date was one day later which pushed up my MAB in Feb higher so when compared to MAB in March; it was not $500 higher even though i transfer in $550 on 1 March 2023.

A bit annoying la... I transfer my salary out on 23 Feb but the value date was 24 Feb even though the receiving bank received the funds on 23 Feb also

Yeah. This is the reason. Better move to UOB from next month. Less work to do.