Hello from Team OCBC

[alvismah]

Hi OCBC, is geneco bill eligible for OCBC Frank cashback?

 

[OCBC Bank]

Hi OCBC, is geneco bill eligible for OCBC Frank cashback?

Hi Alvis,

It will depend on the MCC coming in for that transaction. The bank will only be able to check if the transactions has been made to the card. Please drop us a secured mail via ibanking to check on the eligibility if the transaction has been made, thank you.

^XF

​

 

[shortbirdlonghair]

When SRS contribution cap refreshed for the new year?

 

[OCBC Bank]

When SRS contribution cap refreshed for the new year?

Hi there,

SRS contribution cap update will be completed by mid January of the calendar year. Before this update is completed, customers won't be able to do SRS contribution via Internet Banking.

If you would like to make a contribution before the completion, please visit our branch to make the contribution, or call us at 1800 363 3333.

^DG

 

[caesium5]

Hi caesium5,

Apologies for the delay in our replies.
The team is still looking into this.

^DG

Any approximately timeline, eg 3 months, 6 month or 1 year later will have an answer?

 

[noname2016]

Hi, Ocbc why is it that pay now transfer limit does not require OTP?! I can transfer up to 300,000 immediately.
with the increasing number of scams, isn’t this really dangerous? Also does Ocbc have any comments regarding the recent scam cases where customers lost over 9million plus? One person losing a few hundred k, I might think this person is an idiot for falling to the scam, but so many people falling for it amounting to a few million, how can Ocbc not do anything?

 

[OCBC Bank]

Any approximately timeline, eg 3 months, 6 month or 1 year later will have an answer?

We apologise, but we won't be able to provide a timeline on this.

^DG

 

[OCBC Bank]

Hi, Ocbc why is it that pay now transfer limit does not require OTP?! I can transfer up to 300,000 immediately.
with the increasing number of scams, isn’t this really dangerous? Also does Ocbc have any comments regarding the recent scam cases where customers lost over 9million plus? One person losing a few hundred k, I might think this person is an idiot for falling to the scam, but so many people falling for it amounting to a few million, how can Ocbc not do anything?

Hi there,

The PayNow Authorisation Limit will be reduced from S$1000 to S$200 with effect from 05 Jan 2022.
Paynow transactions above S$200 will require transaction signing via Hardware Token or Elevated OneToken. This applies to both OCBC Digital and Pay Anyone App as well as Internet Banking

Transaction limit update will require OneToken or hardware token to authenticate the request as well.

^DG

 

[noname2016]

Hi there,

The PayNow Authorisation Limit will be reduced from S$1000 to S$200 with effect from 05 Jan 2022.
Paynow transactions above S$200 will require transaction signing via Hardware Token or Elevated OneToken. This applies to both OCBC Digital and Pay Anyone App as well as Internet Banking

Transaction limit update will require OneToken or hardware token to authenticate the request as well.

^DG

Ok thank you for the reply.

 

[Steyr69]

Hi OCBC,

I am thinking of opening a savings account for my bed ridden mother. This is for her to receive gov grants.
Any issues on also applying an ATM card so I can withdraw money from that account?
Understand the security issues might involve. But she is ok with this arrangement.

Or will a joint alternate account in this case will be a better suggestion?

Please help advise. Thank you!

(I can put her on a wheelchair to the bank for opening of the account at the banking branch)

 

[OCBC Bank]

Hi there,

If you would like to operate the account as well, we would advised that you open a joint account with your mother. The both of you will need to be present at our branches for this.

Please bring along your NRICs, and initial deposit for the account opening.

^DG

 

[kuti-kuti]

@OCBC Bank not sure if you have answered to this question, but would like to ask how did scammers know we have an ocbc account? It seems that non ocbc customers didn't receive the phising emails.

 

[Steyr69]

Hi there,

If you would like to operate the account as well, we would advised that you open a joint account with your mother. The both of you will need to be present at our branches for this.

Please bring along your NRICs, and initial deposit for the account opening.

^DG

Hello,

Thank you. If open a joint account, can a ATM card be issued in this case?
How about internet banking operation?

 

[OCBC Bank]

@OCBC Bank not sure if you have answered to this question, but would like to ask how did scammers know we have an ocbc account? It seems that non ocbc customers didn't receive the phising emails.

Hi there,

The SMSes have been sent to non-OCBC customers as well.

Scammers are sending mass phishing SMS/ emails. They do not know if you have an account with OCBC Bank. They would only know that you have an account with OCBC should you click into the link and provide your account details.

^DG

 

[OCBC Bank]

Hello,

Thank you. If open a joint account, can a ATM card be issued in this case?
How about internet banking operation?

Hi there,

Yes, ATM cards and Internet Banking access can be issued for joint account as well.

^DG

 

[turtle2018]

I refer to Sunday Times (9 Jan 2022) article "Couple lost $120k in SMS scam aimed at OCBC customers".

To quote "...He then entered his account details, unwitting hand over control of the whole account to scammers..." & "...couple also received messages earlier that access to their a/c was being set up on another phone but this was followed with fake messages from the scammer telling them to ignore the messages..."

Based on above, I guess what happened was:

1) Couple entered their Access Code & PIN (&2FA) on a fake OCBC login page, which the Scammers in turn input into the real OCBC login page, & access the Couple's internet banking successfully
2) Scammers then apply on internet banking to activate OCBC Onetoken on another phone (which explains why SMS was sent to Couple informing them that their a/c was being set up on another phone)

Being a OCBC customer myself who use internet banking frequently, I have concerns & these 2 questions to OCBC:

Q.1 ) To set up & activate the Onetoken on another phone, the Couple will have to authenticate again. If they indeed "ignored" the messages, how could the activation of OneToken on another phone be successful?

Q.2 ) OCBC's daily FAST limit for non-priority customers is $100k, & for priority customers is $200k. If the Couple "took 5 years to save about $120k", they are unlikely to be priority customers. Even if the Scammer managed to activate the Onetoken on another phone, how were they able to transfer away $120k if the daily limit is $100k? Of course if the Couple are OCBC priority customers, then this question would be invalid.

 

[TickTechToe]

Has the police intervene to investigate where the money are transfer to? How can we let the crooks get away with this.. not only it hurts the reputation of the bank, it tarnish our nation's reputation as a financial hub in the world.


Read HWZ Forum Rules!

 

[OCBC Bank]

Has the police intervene to investigate where the money are transfer to? How can we let the crooks get away with this.. not only it hurts the reputation of the bank, it tarnish our nation's reputation as a financial hub in the world.


Read HWZ Forum Rules!

Hi turtle2018 & TeckTechToe

We are just as concerned to hear about the cases, and we deeply empathise with the victims

We are only hearing one person's account on the news & without going into the specific details, we can only speculate & make assumptions.

But yes, the scammers were able to obtain actual login details through fake websites. And deactivate the OneToken from the actual customer & shift it to their own mobiles

We are working closely with the authorities to resolve this & hopefully apprehend the perpetrators

^Sh

 

[turtle2018]

To: OCBC

I have the following suggestions, which I hope you can forward to the relevant depts for their considerations.

1) Impose one additional step before activation of Onetoken on a new device can take effect

The customer will be required to “accept” the activation either at ATM, or branch counter. Whilst the Scammers may be able to design a fake bank site & trick the customer to disclose the crucial info (access code, password, 2FA), it will be harder to trick the customer to go to the ATM machine or branch counter.

Yes, it’s less convenient than existing processes but since customers seldom need to activate Onetoken on new devices (perhaps only when change of mobile phone), the once-in-a-while inconvenience is still worthy for greater security.

2) Alert customers whenever internet banking is logged in using a different device (from the usual device that customers previously used)

Same concept as whenever I login to my gmail a/c from a different device, google will alert me, with even some details of what the new device is.

In the scenario whereby customers are tricked into login at a fake site using his usual device, if he/she immediately receives a SMS (from the real OCBC) saying that the login (by the Scammers) is from a different device, that should alert the customer that something is not right.

3) Call-in by bank staff to authenticate for “large” & “first-time” transfers to 3rd parties

When I tried to make a FAST payment via internet banking (of another bank) during circuit breaker period in 2020 to an Insurer for a single premium policy, the payment was put on hold. Then a bank officer called me to verify a few things, before the payment got released.

 

[BBCWatcher]

3) Call-in by bank staff to authenticate for “large” & “first-time” transfers to 3rd parties

When I tried to make a FAST payment via internet banking (of another bank) during circuit breaker period in 2020 to an Insurer for a single premium policy, the payment was put on hold. Then a bank officer called me to verify a few things, before the payment got released.

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.