Hello from Team OCBC

[Boorseye]

Hi OCBC, can I check what happened to the balance of money not available to purchase the share after deducting the fees?is it refunded back to the customer or reinvested the following month?

For example, someone invested $100 a month..after deducting $5 fee, the amount reinvested is $95..let's say the price of the share is $3... And 31 shares is $93...what happened to the remaining $2? OCBC keep till you deem fit when to return?

Let me answer this. In this case it would be rounded up to 32 shares and you'll not be charged additional charges but in the case it is rounded down, you'll not be refunded any residue monies. It's in the t&c

 

[makav31i]

Let me answer this. In this case it would be rounded up to 32 shares and you'll not be charged additional charges but in the case it is rounded down, you'll not be refunded any residue monies. It's in the t&c

How will they determined whether to round up or down? What if every month round down? So you are paying more for fees?

 

[Boorseye]

How will they determined whether to round up or down? What if every month round down? So you are paying more for fees?

If its rounded down, too bad, rounded up you gain. Not sure at what point they round off but I believe at .5 should go up and below .5 should go down.. Personally I was unhappy with the price of $10.79 per keppel share I paid for sept's deduction.. Lets see this month and next month how it goes.. Just trying it out, might not suit me after all..

 

[black_wing_diaz]

Hi OCBC,

Can I not buy monthly but buy with lump sum of 1 to 2 lots with the BCIP?

I am not intrested in monthly investment.

 

[makav31i]

Hi OCBC,

Can I not buy monthly but buy with lump sum of 1 to 2 lots with the BCIP?

I am not intrested in monthly investment.

Why don't you open a broker account or even standard chartered trading account...BCIP is for monthly investment...if you want to buy full lot might as well go to broker to buy...

 

[OCBC Bank]

Hi OCBC, can I check what happened to the balance of money not available to purchase the share after deducting the fees?is it refunded back to the customer or reinvested the following month?

For example, someone invested $100 a month..after deducting $5 fee, the amount reinvested is $95..let's say the price of the share is $3... And 31 shares is $93...what happened to the remaining $2? OCBC keep till you deem fit when to return?

Hi there. The full amount invested (minus the fee) will be allocated based on the price per share. Therefore, a refund will not be applicable. To explain further, we use your scenario to illustrate our calculations as follows:

Investment amount: S$100
Investment amount after fee deduction of S$5: S$95
Price per share: S$3

Number of shares allocated: S$95 / S$3 = 31.67 shares.

^Eric
For OCBC Bank

 

[bryanzzz]

Hi,

I am a current holder of a Fairprice PLUS! account with a PLUS! debit card. If i open a new OCBC Frank account, will my current debit card be tagged to that new frank account also?

 

[nanotard]

Hi there. The full amount invested (minus the fee) will be allocated based on the price per share. Therefore, a refund will not be applicable. To explain further, we use your scenario to illustrate our calculations as follows:

Investment amount: S$100
Investment amount after fee deduction of S$5: S$95
Price per share: S$3

Number of shares allocated: S$95 / S$3 = 31.67 shares.

^Eric
For OCBC Bank

So the person would have 31.67 shares?

Do you round up?
Or round down?
Or is the decimal point kept and accumulated with future <1 shares to form 1 full share?
Eg. Month 1 = 31.4, month 2 = 31.3, month 3 = 30.3. The three fractions of a share add up to form 1 share?

 

[htngwilliam]

Hi

I am interested in the BCIP, can I apply it at any branch?

 

[OCBC Bank]

Hi ocbc, Can i check if by any chance will the promotional processing fee for BCIP be extended?

Will you be able to provide us, the consumers a table/chart something related on the BCIP take up rate? say for example, which are the top 3 most popular counters that consumer buy?

Hi chyn_no, we are in the midst of reviewing the promotional fees for buying and selling, and will announce the promo end date when ready.

Regarding the popular counters our customers have purchased, we would recommend that instead of looking at the top trending counters, it is more important to read up more on the company / ETF which you are considering, to understand the company / ETF you are buying into before making a decision.


^Richelle
For OCBC Bank

 

[makav31i]

Hi @chyn_no, we are in the midst of reviewing the promotional fees for buying and selling, and will announce the promo end date when ready.

Regarding the popular counters our customers have purchased, we would recommend that instead of looking at the top trending counters, it is more important to read up more on the company / ETF which you are considering, to understand the company / ETF you are buying into before making a decision.


^Richelle
For OCBC Bank

So the promotion is no longer till December? I refer to this quote from yourself:

Hi @reflush,

The OCBC Blue Chip Investment Plan (BCIP) allows you to invest in 19 blue chip share counters, and 1 ETF in a hassle-free way.

Here are 3 key reasons why OCBC BCIP:

1) You get to choose your preferred share counters from a list of 19 quality blue chip names listed on the STI, on top of the STI ETF which is also offered by other similar plans. When you select any of these 19 blue chip share counters, you buy the actual companies’ shares. By buying the STI ETF, you purchase and own units of the ETF, which invests in a portfolio of STI stocks, instead of shares of the individual companies.

2) At 0.3% of gross investment amount or minimum S$5 per counter per transaction (inclusive of GST and SGX clearing and access fees) for buying and selling of shares through BCIP, our rates are very competitive. As a launch promotion, we have waived the minimum fee of S$5 per counter per transaction. This promotion is valid till Dec 2013. However, we will inform you 1 month prior to the end of the promotion.

3) There is no lock-in period. You get the flexibility to manage your plan through OCBC Online Banking, where you can login any time to give instructions to amend or terminate your plan, and sell your BCIP holdings.

Hope this helps!


^Richelle
for OCBC Bank

So OCBC is extending or cutting short the promotion or just stick till December?

 

[makav31i]

Hi there. The full amount invested (minus the fee) will be allocated based on the price per share. Therefore, a refund will not be applicable. To explain further, we use your scenario to illustrate our calculations as follows:

Investment amount: S$100
Investment amount after fee deduction of S$5: S$95
Price per share: S$3

Number of shares allocated: S$95 / S$3 = 31.67 shares.

^Eric
For OCBC Bank

Hi Eric, I refer to OCBC BCIP FAQ Point number 11 which states:

How is the quantity of shares I am allocated determined?
The quantity of shares you are allocated is calculated by taking the investment amount you have indicated (less fees), divided by the average purchase price. The quantity will be rounded to the nearest whole number. If rounded up, there will be no additional charges. If rounded down, we will not credit any residual monies to you

Please read your company own FAQ before replying that a customer is allocated 31.67 shares...It clearly shows that you have no idea what you are talking about or you are saying that there is an error in the FAQ..So which is true?

 

[Mecisteus]

Please read your company own FAQ before replying that a customer is allocated 31.67 shares...It clearly shows that you have no idea what you are talking about or you are saying that there is an error in the FAQ..So which is true?

the FAQ is right. how can one receive shares in decimal numbers?!

 

[makav31i]

the FAQ is right. how can one receive shares in decimal numbers?!

The staff said that it is 31.67 share..so want to confirm mah...

 

[OCBC Bank]

So the promotion is no longer till December? I refer to this quote from yourself:



So OCBC is extending or cutting short the promotion or just stick till December?

Hi makav31i, the promotion is up to Dec 2013 for now. We are currently reviewing whether to extend the promotion and will announce it soon. Hope this helps clarify!

^Richelle
For OCBC Bank

 

[OCBC Bank]

So the person would have 31.67 shares?

Do you round up?
Or round down?
Or is the decimal point kept and accumulated with future <1 shares to form 1 full share?
Eg. Month 1 = 31.4, month 2 = 31.3, month 3 = 30.3. The three fractions of a share add up to form 1 share?

Hi nanotard, the quantity of shares allocated will be rounded to the nearest whole number. In this example above, the actual number of shares will be 32 shares because it is rounded up from 31.67 shares.


^Richelle
For OCBC Bank

 

[nanotard]

Hi nanotard, the quantity of shares allocated will be rounded to the nearest whole number. In this example above, the actual number of shares will be 32 shares because it is rounded up from 31.67 shares.


^Richelle
For OCBC Bank

Based on what I understand from your explanation, if a customer were to have the unfortunate fate of always getting less than 0.5 shares fraction every month, his actual shares will always get rounded down?

Over a long period of time he would be paying more than he should? That's not exactly fair right?

((Sorry. If anyone understood the explanation differently from me, please re-elaborate for me thanks ))

 

[OCBC Bank]

Hi

I am interested in the BCIP, can I apply it at any branch?

Hi there. For BCIP, you can apply either via OCBC Online Banking, or you can mail in the completed hardcopy application form with the required supporting documents. You can get a copy of the hardcopy application form from here

Well, look ok with this explanation. Anyone knows what will happen if I didn't have enough $ to invest in a particular month? Will it just ignore and purchase the next month or will policy lapse?

Regarding your 2nd query on BCIP, if your account has insufficient funds during a particular month, we will not purchase any shares on your behalf for that month. If such a situation continues for three consecutive months, your plan will be automatically terminated. Thank you!


^Eric
For OCBC Bank

 

[OCBC Bank]

Hi Eric, I refer to OCBC BCIP FAQ Point number 11 which states:


Please read your company own FAQ before replying that a customer is allocated 31.67 shares...It clearly shows that you have no idea what you are talking about or you are saying that there is an error in the FAQ..So which is true?

Hi there,

We do apologize for the incomplete information provided. Based on your example, if your total shares allocated is 31.67, you will receive 32 shares (after rounding up to the nearest whole number). If your total shares allocated is 31.49 for example, you will receive 31 shares. Thank you


^Eric
For OCBC Bank

 

[crazydeals]

Hi Team,

Sorry to ask a newbie question. I would like to open a trading account with OCBC. May I know from where I can get more information? If I visit any branch of yours, will I be able to get information on this ?