Hello from Team OCBC

[OCBC Bank]

Hi OCBC,

I did not get the spend bonus in May for my spend in Apr which is more than S$500 (S$509.46). I called the customer hotline and I was told the following 2 transactions were not counted as they were posted in May:

28/04/2020 Shopee - Singapore SINGAPORE SG 75.02 -
28/04/2020 STARHUB PREPAID SINGAPORE SG 10.00

I can understand if the txns were in the last day or two of the mth, but the above txns were on 28Apr (Tues) and the next few days were weekdays. So it's hard to believe these tnxs are not posted in time.

I would like to appeal for these txns to be counted so I can get the spend bonus interest. Can you help? I asked the CS but it seems like no use. Thank You.

Hi direbmem,

Transaction date refers to the date when a purchase is made.

Posting date refers to the date the transaction is received by the card issuer, OCBC Bank.

As merchants may make a settlement a few days (up to 7 business days) after the transaction has been made, posting date may be a few days later than the transaction date. As such, the bank has no control over when merchant records the transaction.

The cashback computation is based on the transactions posted within the calendar month.

^DG

 

[OCBC Bank]

Hi OCBC, when I tried to change my mailing address through internet banking, after keying in my OTP to complete the transaction, an error occur. The error was SWT1. What does this means?

Hi lycanboy,

Can you try again, and if you are still having the same issue, please drop us a PM with the following:

- mobile number
- phone model
- operating system and version
- mobile app version
- screenshot of error message received

^DG

 

[Cumzilla]

Hi OCBC,

I did not get the spend bonus in May for my spend in Apr which is more than S$500 (S$509.46). I called the customer hotline and I was told the following 2 transactions were not counted as they were posted in May:

28/04/2020 Shopee - Singapore SINGAPORE SG 75.02 -
28/04/2020 STARHUB PREPAID SINGAPORE SG 10.00

I can understand if the txns were in the last day or two of the mth, but the above txns were on 28Apr (Tues) and the next few days were weekdays. So it's hard to believe these tnxs are not posted in time.

I would like to appeal for these txns to be counted so I can get the spend bonus interest. Can you help? I asked the CS but it seems like no use. Thank You.

Like you, I got the experience before of not getting the bonus interest due to late posting date, so the lesson I learnt after that is try not to spend towards the last days of the month. For your case, still got 2 working days before May, but I notice OCBC usually takes longer to post transaction compare to other banks, so I just avoid using my OCBC card in the last week altogether.

 

[OCBC Bank]

Hi OCBC,

I am trying to buy a USD denominator share in SGX. My giro linked bank account is in SGD.If I leave the settlement currency in USD when buying the shares, will the trade go through and auto deduct and convert the amount I buy in USD into SGD and deduct from my SGD bank account?

Because when I change the settlement currency to SGD in my buy screen, it does not help me convert the buy price from USD to SGD.

Hi Langstona,

Your understanding is correct. GIRO is only for SGD settlement trade.

To settle USD denominated trades in SGD, you have 2 options:

1. When you are placing the order, you may select your settlement currency as SGD on the order ticket. After clicking on the submit button, there will be an order confirmation screen showing the value in the traded currency USD.

You will be able to see the settlement amount in SGD the following day from the iOCBC Portfolio – Outstanding Position page or your e-statements.

2. If you wish to settle in SGD but did not select the settlement currency before the order is submitted, do contact your trading representative immediately for assistance.

You may find the contact details of your trading representative on iOCBC by clicking on “Account Mgmt” on the top menu and select “Account Details”.

Lastly, please do ensure you have sufficient funds for the GIRO deduction.

^DG

 

[Langstona]

Hi Langstona,

Your understanding is correct. GIRO is only for SGD settlement trade.

To settle USD denominated trades in SGD, you have 2 options:

1. When you are placing the order, you may select your settlement currency as SGD on the order ticket. After clicking on the submit button, there will be an order confirmation screen showing the value in the traded currency USD.

You will be able to see the settlement amount in SGD the following day from the iOCBC Portfolio – Outstanding Position page or your e-statements.

2. If you wish to settle in SGD but did not select the settlement currency before the order is submitted, do contact your trading representative immediately for assistance.

You may find the contact details of your trading representative on iOCBC by clicking on “Account Mgmt” on the top menu and select “Account Details”.

Lastly, please do ensure you have sufficient funds for the GIRO deduction.

^DG

When i receive dividends in USD, it will be automatically converted to SGD when credited into my linked SGD bank account?

 

[platee]

Hi OCB, what is the AVG balance to be maintained for Frank account?

 

[direbmem]

Like you, I got the experience before of not getting the bonus interest due to late posting date, so the lesson I learnt after that is try not to spend towards the last days of the month. For your case, still got 2 working days before May, but I notice OCBC usually takes longer to post transaction compare to other banks, so I just avoid using my OCBC card in the last week altogether.

Thanks for sharing.
The irritating thing is I didn't think 28Apr was too late for the spend to be not counted in Apr.
It was the 3rd last working day of the mth, so I can't believe there was insufficient time for the txns to be posted.
So I went ahead to deliberately spend S$80+ so that I can hit S$500.
Also OCBC is not very transparent as compared to UOB on the posting date. So even if it was posted in Apr but due to some backend problem it was not included, I wouldn't have known.
Wasted my effort and money with OCBC card. Disappointed.

 

[direbmem]

Hi direbmem,

Transaction date refers to the date when a purchase is made.

Posting date refers to the date the transaction is received by the card issuer, OCBC Bank.

As merchants may make a settlement a few days (up to 7 business days) after the transaction has been made, posting date may be a few days later than the transaction date. As such, the bank has no control over when merchant records the transaction.

The cashback computation is based on the transactions posted within the calendar month.

^DG

I fully understand what is txn vs posting date. No explanation required.
But how would I know if it was really posted late or it was due to some system issue on OCBC's backend? It's not like OCBC always show the posting date in internet banking like UOB.
Like I said, it was the 3rd last working day, it's ridiculous the posting was delayed till May.

 

[OCBC Bank]

I fully understand what is txn vs posting date. No explanation required.
But how would I know if it was really posted late or it was due to some system issue on OCBC's backend? It's not like OCBC always show the posting date in internet banking like UOB.
Like I said, it was the 3rd last working day, it's ridiculous the posting was delayed till May.

Thank you for the feedback.
We will share it with the relevant department.

Merchants have up to 7 business days to post a transaction. This is not within the banks' control.

^DG

 

[Mecisteus]

Hi OCBC,

When is your app going to enable face unlock for Android 10?

Interactive Brokers and Singpass are already supported!

 

[OCBC Bank]

Hi OCB, what is the AVG balance to be maintained for Frank account?

Hi there,

If you are above 26 years old, there will be a monthly service fee of S$2 if your daily average balance for the month falls below S$1,000.

^DG

 

[OCBC Bank]

Hi OCBC,

When is your app going to enable face unlock for Android 10?

Interactive Brokers and Singpass are already supported!

Hi,

OCBC OneLook is currently available for iPhone X or newer models with facial recognition (Face ID), running on iOS11 or above.

^DG

 

[OCBC Bank]

When i receive dividends in USD, it will be automatically converted to SGD when credited into my linked SGD bank account?

Hi Langstona,

Are your shares held with CDP?

If yes, for information on dividend payment, please refer to https://www.sgx.com/cdp-goes-digital#From mid June 2020: Currency Conversion Service or contact CDP for assistance.

If you have other enquiries, please drop us a PM with your mobile number and we will get in touch with you.

^DG

 

[direbmem]

Thank you for the feedback.
We will share it with the relevant department.

Merchants have up to 7 business days to post a transaction. This is not within the banks' control.

^DG

Meanwhile, because this information on whether it's the merchant posting late or OCBC's backend issue is NOT visible to me at all, and my txn date is not on the last day of the month (on the 3rd last working day of the month), can you you grant my appeal to have the spend bonus for Apr please. I have been using OCBC 360 account for many years.

 

[duhduhduh]

Hello

I am trying to sign up for the OCBC RoboInvest page, but whenever I login with my Online banking - it says there is an error and give me the contact centre number to call in.

Is there anyway to by pass this?

 

[Cumzilla]

Thanks for sharing.
The irritating thing is I didn't think 28Apr was too late for the spend to be not counted in Apr.
It was the 3rd last working day of the mth, so I can't believe there was insufficient time for the txns to be posted.
So I went ahead to deliberately spend S$80+ so that I can hit S$500.
Also OCBC is not very transparent as compared to UOB on the posting date. So even if it was posted in Apr but due to some backend problem it was not included, I wouldn't have known.
Wasted my effort and money with OCBC card. Disappointed.

understand your predicament, I know the feeling after trying hard to reach the target and then get nothing in the end. I remember I appealed before also not given, UOB tends to be more understanding, my appeal was accepted by UOB after I did not get the bonus last month due to 1 ineligible spending.

 

[OCBC Bank]

Hello

I am trying to sign up for the OCBC RoboInvest page, but whenever I login with my Online banking - it says there is an error and give me the contact centre number to call in.

Is there anyway to by pass this?

Hi there,

Have you tried clearing cache before re-attempting? Or attempting from another web browser?

If that still does not work, please share your contact number with us via DM, thank you.

^XF

 

[OCBC Bank]

Meanwhile, because this information on whether it's the merchant posting late or OCBC's backend issue is NOT visible to me at all, and my txn date is not on the last day of the month (on the 3rd last working day of the month), can you you grant my appeal to have the spend bonus for Apr please. I have been using OCBC 360 account for many years.

Hi there,

If you'd like to request for an appeal on this, please drop us a secured email via internet banking.

1. Log in to https://internet.ocbc.com/internet-banking/
2. At the top of the page, find the word 'Mailbox', click on it
3. Click on ‘Compose’
4. From there, please clearly state your request.

Just to share once again, as merchants may make a settlement a few days (up to 7 business days) after the transaction has been made, the posting date may be a few days later than the transaction date. As such, the bank has no control over when merchant records the transaction.

^XF

 

[Mecisteus]

Hi,

OCBC OneLook is currently available for iPhone X or newer models with facial recognition (Face ID), running on iOS11 or above.

^DG

I am talking about Android.

Are you suggesting me to change a phone?

 

[direbmem]

Hi there,

If you'd like to request for an appeal on this, please drop us a secured email via internet banking.

1. Log in to https://internet.ocbc.com/internet-banking/
2. At the top of the page, find the word 'Mailbox', click on it
3. Click on ‘Compose’
4. From there, please clearly state your request.

Just to share once again, as merchants may make a settlement a few days (up to 7 business days) after the transaction has been made, the posting date may be a few days later than the transaction date. As such, the bank has no control over when merchant records the transaction.

^XF

Why do you need to repeat the standard reply again?
OK, in a similar vein...
Just to share again, what you wrote is NOT visible to customers at all.
It can be OCBC's mistake and OCBC can still just say it's the merchant's issue.
If you want to harp on merchant's fault, then consistently show us the posting date in the internet banking / statements. Otherwise, it is not credible/believeable at all that 3 working days before end of month the txn is not posted/counted. I have made many txns in Shopee andtop up prepaid card before via UOB credit card. There was never such issue, at least not 3 working days from mth end.