Hello from Team OCBC

[OCBC Bank]

i feel they should send physical letters to inform if they want to opt in or opt out.

auto opt in unless opt out

I understand your feeling, the system will impose late charge even you were late by 1 day.

IIRC, the e-statement is auto implemented by the bank even you did not opt for it.

Hi all,

If you would like to opt-out of e-Statements, you could do so by:

1. Upon logging in to online banking, click "Your Accounts"

2. From the drop-down menu, click "Overview"

3. Scroll down to view "What you owe (Liabilities)", Credit Cards

4. Click on the specific card type

5. From the drop-down menu, click "eStatements"

6. Click "Manage eStatement" on the left

7. Uncheck the respective credit card account to opt out of eStatements

^DG

 

[drsubaru]

Hi drsubaru,

This information is not listed on our website.

Should you require further clarification, you could call us at 1800 363 3333 (+65 6363 3333 if you are overseas), or drop us a PM with your contact details.

^DG

Hi, please help me verify again if this information is available in any of your publicly available terms and conditions pdf etc that available for download?

 

[xersion]

Bye Ocbc...

OCBC: We have reviewed your request and regret that we are unable to waive the annual fee because you did not meet the minimum spending requirement. We are sorry this is not what you are hoping for, but we stand by our decision. To avoid incurring further charges, do make payment by the due date. Please do not reply to this SMS as the system is not built to accept responses.

Sent from OPPO X9079 using GAGT

 

[OCBC Bank]

Bye Ocbc...

OCBC: We have reviewed your request and regret that we are unable to waive the annual fee because you did not meet the minimum spending requirement. We are sorry this is not what you are hoping for, but we stand by our decision. To avoid incurring further charges, do make payment by the due date. Please do not reply to this SMS as the system is not built to accept responses.

Sent from OPPO X9079 using GAGT

Dear xersion,

We are sorry to learn that your annual fee waiver request was not successful.

We wish to clarify that most of our credit cards do come with annual fees and auto-waivers are given if a minimum spend is achieved on the card within the membership year.

Thank you for taking the time to write to us on this matter, and we appreciate your feedback.

^WX

 

[drsubaru]

Bye Ocbc...

OCBC: We have reviewed your request and regret that we are unable to waive the annual fee because you did not meet the minimum spending requirement. We are sorry this is not what you are hoping for, but we stand by our decision. To avoid incurring further charges, do make payment by the due date. Please do not reply to this SMS as the system is not built to accept responses.

Sent from OPPO X9079 using GAGT

Yes OCBC is quite strict on this and lacks flexibility.

My OCBC Robinson card was cancelled for not meeting minimum spending.

 

[lalaisgongon]

Yes OCBC is quite strict on this and lacks flexibility.

My OCBC Robinson card was cancelled for not meeting minimum spending.

Hmmm, i think there is shift in the credit card / banking landscape where banks only want to focus on a smaller group of people that are more profitable

1) those who pay AFs
2) those who spend enough $$ to make it worth their while to keep on.

Think we have been too spoilt with many years of free waivers.

 

[tomb]

how do i get a replacement for my hardware token which is low on battery?

 

[pohw0008]

Hi OCBC,

I have a CDA account with ocbc.
I have a Joint Account with my child with ocbc.
I transfer monthly $50 without withdrawal into the Joint Account.

Will i be entitled 0.8% interest as stated in the link.

https://www.ocbc.com/personal-banki...SavingsAccount:Nov16:internal:depositsLP:::::

I called OCBC but got confused. The person said that my Joint Account is Young Savers Account and not Mighty Savers account thus does not entitled to 0.8% interest. Need to go down branch to open Mighty Savers Account.

 

[OCBC Bank]

how do i get a replacement for my hardware token which is low on battery?

Hi tomb,

You will be able to request for a HWT replacement by calling our hotline at 1800 363 3333 (+65 6363 3333, if you are overseas).

^DG

 

[OCBC Bank]

Hi OCBC,

I have a CDA account with ocbc.
I have a Joint Account with my child with ocbc.
I transfer monthly $50 without withdrawal into the Joint Account.

Will i be entitled 0.8% interest as stated in the link.

https://www.ocbc.com/personal-banki...SavingsAccount:Nov16:internal:depositsLP:::::

I called OCBC but got confused. The person said that my Joint Account is Young Savers Account and not Mighty Savers account thus does not entitled to 0.8% interest. Need to go down branch to open Mighty Savers Account.

Hi pohw008,

We apologise for any misinformation provided by our service executive.

The Mighty Savers is a programme, and not an account. What our service executive meant is the Monthly Savings account.

The Young Savers account and the Monthly Savings account are two different type of account.

In order to be eligible for the bonus interest, you will have to be a joint account holder with your child for both the CDA, and Monthly Savings account.

Should you require further clarification, please drop us a PM with your contact details.

^DG

 

[tomb]

Hi tomb,

You will be able to request for a HWT replacement by calling our hotline at 1800 363 3333 (+65 6363 3333, if you are overseas).

^DG

Thanks. Tried calling a few times already since last night but still didn't manage to get through.

 

[OCBC Bank]

Thanks. Tried calling a few times already since last night but still didn't manage to get through.

Hi tomb,

We are sorry to learn that you weren't able to get through our line. Could you drop us a PM with your contact details?

We will arrange for a call to you.

^DG

 

[willdan]

Dear xersion,

We are sorry to learn that your annual fee waiver request was not successful.

We wish to clarify that most of our credit cards do come with annual fees and auto-waivers are given if a minimum spend is achieved on the card within the membership year.

Thank you for taking the time to write to us on this matter, and we appreciate your feedback.

^WX

Thank you for the confirmation and information.
Will inform my pals on this so that appropriate action such as to cancel within the 1 year free waiver in case anyone suddenly ended up having to pay for the annual fees, as the minimum spendings for some card is more than 10k SGD.

 

[pohw0008]

Hi pohw008,

We apologise for any misinformation provided by our service executive.

The Mighty Savers is a programme, and not an account. What our service executive meant is the Monthly Savings account.

The Young Savers account and the Monthly Savings account are two different type of account.

In order to be eligible for the bonus interest, you will have to be a joint account holder with your child for both the CDA, and Monthly Savings account.

Should you require further clarification, please drop us a PM with your contact details.

^DG

Thanks.. its more clearer now.. but young savers account does not have any bonus interest?

In the first place i wanted to join the mighty saving programme when creating the joint account.. i even got the free gift bag from ocbc.. not sure why i am not in the program..

If i wan to change the account to monthly saving.. what do i need to bring to the branch?

 

[OCBC Bank]

Thanks.. its more clearer now.. but young savers account does not have any bonus interest?

In the first place i wanted to join the mighty saving programme when creating the joint account.. i even got the free gift bag from ocbc.. not sure why i am not in the program..

If i wan to change the account to monthly saving.. what do i need to bring to the branch?

Hi pohw0008,

For the Young Savers account, interest eligible are as follow:

First S$350,000 0.05% p.a.
S$350,001 to S$1,000,000 0.08% p.a.
Above S$1,000,000 0.10% p.a.

Those who have a Young Savers account are automatically enrolled for the Mighty Savers Programme.

But the bonus interest (as shown in https://www.ocbc.com/personal-banki...ghtySavers-MSA:Nov16:internal:depositsLP:::::) is applicable only to account holders of both the CDA and Monthly Savings account.

You will not be able to change your Young Savers account to the Monthly Savings account. If you would like to open the Monthly Savings account, you will have to put in an application (subject to review and approval).

To apply at our branches, please bring along:


1. Birth certificate of child

2. NRIC for Singaporeans and Singapore PRs or EP/S-Pass employment pass/S-pass or student pass and passport for foreigners

3. Any one of the following documents:
•Phone bill
•Half-yearly CPF statement
•Any bank statement

Please also bring the letter of guardianship if you are not the child's parent

^DG

 

[pohw0008]

Hi pohw0008,

For the Young Savers account, interest eligible are as follow:

First S$350,000 0.05% p.a.
S$350,001 to S$1,000,000 0.08% p.a.
Above S$1,000,000 0.10% p.a.

Those who have a Young Savers account are automatically enrolled for the Mighty Savers Programme.

But the bonus interest (as shown in https://www.ocbc.com/personal-banki...ghtySavers-MSA:Nov16:internal:depositsLP:::::) is applicable only to account holders of both the CDA and Monthly Savings account.

You will not be able to change your Young Savers account to the Monthly Savings account. If you would like to open the Monthly Savings account, you will have to put in an application (subject to review and approval).

To apply at our branches, please bring along:


1. Birth certificate of child

2. NRIC for Singaporeans and Singapore PRs or EP/S-Pass employment pass/S-pass or student pass and passport for foreigners

3. Any one of the following documents:
•Phone bill
•Half-yearly CPF statement
•Any bank statement

Please also bring the letter of guardianship if you are not the child's parent

^DG

It is very confusing.. what do you mean by young savers account are auto enroll to the mighty saving program?? As indicated in my first post.. i got the young savers account but no bonus interest?

Your applicable is very confusing.. what do u mean by "only to account holders of both the CDA and Monthly Savings account"? Mine is young savers.. Which account will be having the bonus interest? Or simply.. can you teach me step by step how to earn the bonus interest..

Why would i want to change to monthly saving account if young savers can earn the bonus interest as well.. is there any siginficant different between this two account?

 

[OCBC Bank]

It is very confusing.. what do you mean by young savers account are auto enroll to the mighty saving program?? As indicated in my first post.. i got the young savers account but no bonus interest?

Your applicable is very confusing.. what do u mean by "only to account holders of both the CDA and Monthly Savings account"? Mine is young savers.. Which account will be having the bonus interest? Or simply.. can you teach me step by step how to earn the bonus interest..

Why would i want to change to monthly saving account if young savers can earn the bonus interest as well.. is there any siginficant different between this two account?

Hi pohw0008,

1. Mighty Savers programme is not an account.

2. The Monthly Savings account and the Young Savers account are both eligible to be under the Mighty Savers Programme.

3. If you are a Young Savers account holder, you will not be eligible for the Bonus interest of up to 0.80% p.a, even though you are under the Mighty Savers programme.

4. The 0.80% p.a. bonus interest is applicable only to eligible account holders who have both CDA and Monthly Savings account.

^DG

 

[pohw0008]

Hi pohw0008,

1. Mighty Savers programme is not an account.

2. The Monthly Savings account and the Young Savers account are both eligible to be under the Mighty Savers Programme.

3. If you are a Young Savers account holder, you will not be eligible for the Bonus interest of up to 0.80% p.a, even though you are under the Mighty Savers programme.

4. The 0.80% p.a. bonus interest is applicable only to eligible account holders who have both CDA and Monthly Savings account.

^DG

Your number 2 and 3 point contradict each other leh? So u mean the young savers are eligible for the programme but not eligible for the bonus interest?? Then what for young saver go for the programme??

 

[OCBC Bank]

Your number 2 and 3 point contradict each other leh? So u mean the young savers are eligible for the programme but not eligible for the bonus interest?? Then what for young saver go for the programme??

Hi pohw0008,

Mighty Savers is a programme and to be part of the programme, you need to hold either the Young Savers Account or Monthly Savings Account in joint name with your child. The key difference between the accounts is the interest rate you enjoy. Young Savers Account offers up to 0.1% p.a., while the Monthly Savings Account offers up to 0.8% p.a.

The Monthly Saving Account was designed to encourage kids to save on a regular basis so, on top of the usual 0.05% p.a., if your child deposits more than $50 every month without making any withdrawals, he enjoys a higher interest rate of 0.4% p.a. On top of that, if your child has a Child Development Account with OCBC, he will earn an additional interest of 0.4% p.a. which brings the interest he enjoys to a total of 0.8% p.a.

Since your child has a OCBC CDA and is already saving regularly, we strongly suggest you open a Monthly Savings Account in joint name with your child to fully enjoy the benefits.

^DG

 

[Joel_l]

This is getting on my nerves...

1. Late charge waiver requires 10 days for an appeal / request to be processed

Fine, Submitted my request on 06/02/16, (automated voice system says it will take 5 working days) called today for an update, and no records? / outcome?

CSO suggested to submit an appeal so now I have to wait another 5 days for the outcome, which by then is the 21st, (interbank transfer takes 3 days) and then late for payment again because they could not find the 1st waiver request.

Tried explaining this logic to the CSO but I guess he couldn't see it. He told me I can decide to pay after the outcome on the 21st. Which, really? Thats the solution I get?


2. Interbank transfer takes 3 days but OCBC won't allow for 3 days buffer for payment. The irony.