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turtle2018

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Indeed, it is impossible for any customer to be able to verify that the caller is indeed the bank officer, and this may create another loophole for new scams or information leakage. 3rd Suggestion to be amended as:

Further authentication needed for “large” & “first-time” transfers to 3rd parties

If the bank detects that the transfer needs further authentication (e.g. “large” & “first-time” transfers to 3rd parties) the system will hold back the transfer & generate a “Case ID”. Customer will then call the bank’s official hotline, and clear with the bank officer using the “Case ID” as reference.

But for this to work, the menu options in the bank's hotline need to be revamped so that the Customer will not end up waiting for 10 minutes or longer before getting connected to the bank officer.
 

Richliao

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I want to cancel my easi credit....on hold for 13 mins just now and I hung up. During waiting I have no option to ask for callback by leaving my number. Tried to send email using my android ocbc app but cannot write anything. What's my avenues to terminate easi credit?
Thanks guys for the many suggestions & feedback!

^Sh
 

hclee01

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I want to cancel my easi credit....on hold for 13 mins just now and I hung up. During waiting I have no option to ask for callback by leaving my number. Tried to send email using my android ocbc app but cannot write anything. What's my avenues to terminate easi credit?
You may wish to use the hard copy form as an alternative to close the account too, and send to OCBC for follow-up:
https://www.ocbc.com/assets/pdf/accounts-and-services/centralised-forms/account-closure-form.pdf
 

aarontansp

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Hi ocbc, why my otp pin message always didn't arrive to my phone number and I need to keep logging in using digital token?
 

a4973

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Hi ocbc, why my otp pin message always didn't arrive to my phone number and I need to keep logging in using digital token?
Have you checked your customer profile and ensured that your mobile number is saved correctly?
If it is and you are still not getting the otp via SMS then it's worrying at least for me since there's such thing as diverted SMS.
 

wira

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I added emphasis to the last sentence. That part doesn't work at all. You cannot be a bank that cares even slightly about security and have bank officers calling customers for "security" except for very brief one-way conversations (providing information, not asking for any). Here's that conversation: "Mr. Chang, someone is trying to make a payment from your account to a new party. Please call OCBC immediately at the number listed on the back of your card or on our Web site if you have any concerns about this payment."

When someone calls you purporting to be calling from your bank, you cannot assume that's true. You cannot assume that it's actually a bank employee acting in an official capacity over a bank monitored/supervised channel. You should immediately hang up and call your bank at their published number. No exceptions -- this is a method that just cannot be trusted.

For security-oriented people this is called "handshaking" the communications channel. You need high confidence that you're actually talking with a bank employee acting in an official capacity over a bank monitored/supervised channel. Your bank needs high confidence that it is talking with you, an actual customer, and knows who you are. You both need to establish trust, and that cannot occur when someone calls you and says "Hi, I'm from OCBC Bank, and I'd just like to ask you a few questions... First, what's your blood type?" And so on. Doesn't work. This works: "Hi, I'm from OCBC Bank. Mr. Chang, I'd like you to call OCBC at the phone number on the back of your card or the phone number listed on our Web site. Use reference code XYZ123 when you call for faster service. Someone is trying to transfer money from your account. Thanks for calling us immediately. Good day."

If your bank cannot figure this out by now, in 2022, then find another bank. Seriously.
agree that the idea for bank to call back customer to "validate" high value transfer is not feasible .
I would be sceptical if someone called saying they are from my bank and ask for my details to authenticate as i would not know if they are really from bank or scammers trying to get my info.

Ideally best way is to have additional facial biometric authentication as an additional authentication method which is virtually impossible for scammers to obtain this. currently govtech singpass has this capability but this obviously only works for Singaporeans/PR and foreigners with singpass.
 

reddevil0728

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agree that the idea for bank to call back customer to "validate" high value transfer is not feasible .
I would be sceptical if someone called saying they are from my bank and ask for my details to authenticate as i would not know if they are really from bank or scammers trying to get my info.

Ideally best way is to have additional facial biometric authentication as an additional authentication method which is virtually impossible for scammers to obtain this. currently govtech singpass has this capability but this obviously only works for Singaporeans/PR and foreigners with singpass.
There will still be people complaining about no physical token
 

wira

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There will still be people complaining about no physical token
i think the best solution would be to give the choice to customers.
if customers still prefer physical token, make them pay the cost of the token ( perhaps charge $20 per token ).

if customer not willing, they can terminate their online banking account and go branch for their banking needs.
 

reddevil0728

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i think the best solution would be to give the choice to customers.
if customers still prefer physical token, make them pay the cost of the token ( perhaps charge $20 per token ).

if customer not willing, they can terminate their online banking account and go branch for their banking needs.
I think it might be a chicken and egg thing. yes there is a variable cost to it. but there is also a fixed cost. they first need to know how many people want to pay a fee to maintain physical. so they can divide up the cost.

and people want to know how much it would cost so they can make a call.

but if people who are stubborn and wants to keep physical. then they just have to pay for the cost of it rather than expecting everything to be free.
 

wira

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I think it might be a chicken and egg thing. yes there is a variable cost to it. but there is also a fixed cost. they first need to know how many people want to pay a fee to maintain physical. so they can divide up the cost.

and people want to know how much it would cost so they can make a call.

but if people who are stubborn and wants to keep physical. then they just have to pay for the cost of it rather than expecting everything to be free.
the CAPEX cost of physical token ( initial cost to setup infrastructure, security servers ,etc ) would probably have been gone given that most banks setup physical token > 10 years ago

only left with the recurring cost to maintain the infrastructure and maintenance cost plus the cost of each token

Dont think banks will be very calculative on this cost and the cost may be just to deter customers from opting back for the physical token and go back to the stone age.
 

reddevil0728

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the CAPEX cost of physical token ( initial cost to setup infrastructure, security servers ,etc ) would probably have been gone given that most banks setup physical token > 10 years ago

only left with the recurring cost to maintain the infrastructure and maintenance cost plus the cost of each token

Dont think banks will be very calculative on this cost and the cost may be just to deter customers from opting back for the physical token and go back to the stone age.
continuous maintenance and upgrade aren't variable cost.

even if there is only 1 person who use the system, you still have to pay for it.

so not calculative, so they just price it conservatively to discourage people from using physical token? then with less people using, and the cost recovery cannot even cover the actual cost. then it doesn't make sense to sustain, then it goes back to discontinuing it no?
 

OCBC Bank

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I want to cancel my easi credit....on hold for 13 mins just now and I hung up. During waiting I have no option to ask for callback by leaving my number. Tried to send email using my android ocbc app but cannot write anything. What's my avenues to terminate easi credit?
Hi there,

Have you managed to get in touch with our service executive yet?

^DG
 

OCBC Bank

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Hi ocbc, why my otp pin message always didn't arrive to my phone number and I need to keep logging in using digital token?
Hi there,

Are you currently using OneToken?
If so, when logging in, you won't be receive SMS-OTP.

OneToken replaces the hardware token and SMS-OTP for your Online Banking transactions.
If you need further assistance on this, please drop us a PM.

^DG
 

aarontansp

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Hi there,

Are you currently using OneToken?
If so, when logging in, you won't be receive SMS-OTP.

OneToken replaces the hardware token and SMS-OTP for your Online Banking transactions.
If you need further assistance on this, please drop us a PM.

^DG
How long do I need to wait for my sms? Awaited 5 mins didn't received so have to use One token
 
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