Disappointed with UOB banking

[yuppieboy]

I don’t understand why UOB works differently from other banks. I have a FD that is maturing today yet it’s still reflected as FD and funds are not deposited into my account yet. When I call their hotline, they say will only credit the principle and interests to my saving account tomorrow.

However, if I were to head down to the bank, I can do a total withdrawal instead since it’s on maturity date. Why the bank need to make things so difficult for their customer and so desperate to earn another day of interests from their customers?

 

[reddevil0728]

You are saying today is last day of the term?

If you head to bank to do total withdrawal does it consitute early termination?

Because you can terminate FD anytime but you will just "suffer" the penalty. did you make clear?

 

[yuppieboy]

You are saying today is last day of the term?

If you head to bank to do total withdrawal does it consitute early termination?

Because you can terminate FD anytime but you will just "suffer" the penalty. did you make clear?

Do you understand what the bank means by mature date? For all other banks, mature date means your funds is free to withdraw on that date.

 

[elvintay07]

I agree that UOB is an asshole bank (never been impressed by their service quality) but 1 day only mah. Just f it la.

 

[yuppieboy]

I agree that UOB is an asshole bank (never been impressed by their service quality) but 1 day only mah. Just f it la.

Only when I call them up to f them, only then they proceed to credit the principle+interests to my saving acc. So it is not automatic as with other banks.

Can’t wait to terminate all my acc with them as I was also naive enough to have fallen for their account opening promotions.

 

[badsector]

Same for their credit card.

For eg, when their statement stated GIRO debit date was 20th. they will debit 1 day earlier from your UOB Saving account.

 

[maumu]

I've a strangely familiar situation as you.. which has yet to be 'resolved'.

I've a structured deposit with them which ends on say, 17 May* but they have this silly clause in their terms that upon maturity, the amount will be converted into a one-month (or one-year?) fixed deposit the next day. then the following day it'll surrender itself and the sum will finally return into the account only 2 days later.

17 May - date mature
18 May - converted to FD
19 May - self-terminate and return to account

Silly right? Lost 2 days of interest because of that. Been trying to tell them I need the funds on 17 May (date of maturity) but they still haven't gotten back to me.

and because it's from SRS account, it's not like I can speed it up by going to the bank to withdraw or close...

*dates are purposely changed

 

[yuppieboy]

I've a strangely familiar situation as you.. which has yet to be 'resolved'.

I've a structured deposit with them which ends on say, 17 May* but they have this silly clause in their terms that upon maturity, the amount will be converted into a one-month (or one-year?) fixed deposit the next day. then the following day it'll surrender itself and the sum will finally return into the account only 2 days later.

17 May - date mature
18 May - converted to FD
19 May - self-terminate and return to account

Silly right? Lost 2 days of interest because of that. Been trying to tell them I need the funds on 17 May (date of maturity) but they still haven't gotten back to me.

and because it's from SRS account, it's not like I can speed it up by going to the bank to withdraw or close...

*dates are purposely changed

1 or 2 days of lost interests may be negligible for a customer, but imagine if it were to happen to all customers due to the unfair advantage of holding back funds, no prize for guessing who will ultimately gain from such a practise! Why can’t they just function normally like any other banks here?

 

[dappermen]

Love uob!

i wdraw everything from other bks!

 

[Squaredot]

I'm not satisfied with UOB on different matters that are still pending...sian.

But they are ok with my FDs.
I have 2 FD that matured early this year with instruction: Principle+ Interest credit to Savings Account and $$ were credited to my Savings Account on maturity date. No issue

 

[IronMan123]

My internet banking OTP generate from app is not working, ->when keyed in it shown wrong OTP. Couple years ago the token OTP also not working. Called CSO and they sync it for me over the phone. Till now I switch to SMS OTP for log in and lazy to call them again. Anyone face this issue too?

 

[reddevil0728]

My internet banking OTP generate from app is not working, ->when keyed in it shown wrong OTP. Couple years ago the token OTP also not working. Called CSO and they sync it for me over the phone. Till now I switch to SMS OTP for log in and lazy to call them again. Anyone face this issue too?

if you don't plan to get them to fix it, then it will just be like that leh. nobody can't change anything other than them