ocbc 360 account

[hyperbole]

What is the procedure to terminate the OCBC 360 account? Thanks

Go to the branch and close the account. Will have to pay 2 bucks if you don't hit the min adb

 

[magnesium1]

What is the procedure to terminate the OCBC 360 account? Thanks

wait until they deposited bonus interest then close

Sent from the research lab without using GAGT

 

[oceanicmanta]

wait until they deposited bonus interest then close

Sent from the research lab without using GAGT

if can wait, do it on 1st of the month with 3k balance, then wont incur $2 fee.
or if not shy, FAST transfer everything out b4 going to branch, then close account with zero balance.

 

[hyperbole]

if can wait, do it on 1st of the month with 3k balance, then wont incur $2 fee.
or if not shy, FAST transfer everything out b4 going to branch, then close account with zero balance.

they will make you pay cash before they close your account.

 

[flyboy]

i am going to do the same.

 

[OCBC Bank]

What is the procedure to terminate the OCBC 360 account? Thanks

Hi Trazora,

Account termination can be done at any of our branches, or by mailing in the "Letter of Instruction - Account Closure" form (http://www.ocbc.com/assets/pdf/acco...rms/letter-of-instruction-account-closure.pdf).

Do note that there will be a $30 charge, if account closure is done within 6 months of account opening.

For accounts that are opened using thumbprint, or is dormant, customers will be required to visit the branch.

Should you be visiting the branches, do bring along your NRIC, and passbook (if any). If the signing condition of the account is "Jointly". All account holders will have to be present.

^DG

 

[Trazora]

Hi Trazora,

Account termination can be done at any of our branches, or by mailing in the "Letter of Instruction - Account Closure" form (http://www.ocbc.com/assets/pdf/acco...rms/letter-of-instruction-account-closure.pdf).

Do note that there will be a $30 charge, if account closure is done within 6 months of account opening.

For accounts that are opened using thumbprint, or is dormant, customers will be required to visit the branch.

Should you be visiting the branches, do bring along your NRIC, and passbook (if any). If the signing condition of the account is "Jointly". All account holders will have to be present.

^DG

What does dormant means? Thanks

 

[more3cm]

FAST transfer everything out b4 going to branch, then close account with zero balance.

That time I closed middle of the month, though my acc zero already they still gave me 5cent interest

 

[Squaredot]

What does dormant means? Thanks

Dormant account means zero activity in account for a long time, likely 12 months. There will a dormant status tagged to your account.

 

[Trazora]

That time I closed middle of the month, though my acc zero already they still gave me 5cent interest

Interest for previous month less the fall below fee?

 

[hyperbole]

That time I closed middle of the month, though my acc zero already they still gave me 5cent interest

they made me pay the fall below fee before they close the account.

 

[ericsoon72]

hi everyone,

assuming I have more than 60k in my account, e.g. 80k.
I want to maximize the interest bonus on incremental balance (difference between current and previous month) for ocbc 360 account.

can I deposit 60k in this month (month 1),
then deposit 20k to earn the incremental bonus the following month (month 2),
then take out 20k, and leave 60k in month 3,
deposit 20k to earn the incremental bonus in month 4,
rinse and repeat.

in this way, can I earn the incremental bonus on alternate months?

 

[HWZ1973]

hi everyone,

assuming I have more than 60k in my account, e.g. 80k.
I want to maximize the interest bonus on incremental balance (difference between current and previous month) for ocbc 360 account.

can I deposit 60k in this month (month 1),
then deposit 20k to earn the incremental bonus the following month (month 2),
then take out 20k, and leave 60k in month 3,
deposit 20k to earn the incremental bonus in month 4,
rinse and repeat.

in this way, can I earn the incremental bonus on alternate months?

Can lah....

 

[Luc777]

noob question...but does online spending count towards the 500 monthly?

thanks!

 

[Squaredot]

noob question...but does online spending count towards the 500 monthly?

thanks!

Counted if you are paying with an OCBC card.

 

[Trazora]

hi everyone,

assuming I have more than 60k in my account, e.g. 80k.
I want to maximize the interest bonus on incremental balance (difference between current and previous month) for ocbc 360 account.

can I deposit 60k in this month (month 1),
then deposit 20k to earn the incremental bonus the following month (month 2),
then take out 20k, and leave 60k in month 3,
deposit 20k to earn the incremental bonus in month 4,
rinse and repeat.

in this way, can I earn the incremental bonus on alternate months?

Incremental bonus would only be for the 20k. Might as well save the 20k in another account that fetch more than 1.05% interest.

 

[Luc777]

Counted if you are paying with an OCBC card.

wa nice...thanks!

 

[Luc777]

Incremental bonus would only be for the 20k. Might as well save the 20k in another account that fetch more than 1.05% interest.

divide by 2 months can take it as the 20k getting 0.5% right?

 

[ericsoon72]

Can lah....

Is there a better way to earn bonus interest for OCBC 360 savings above 60k?

 

[wts2013]

Is there a better way to earn bonus interest for OCBC 360 savings above 60k?

u obviously have not read thru this thread where experts share their strategies to maximize interest earned, read thru this thread for my posts!

Which is the best strategy for u also depends on how much interest u are now getting from ocbc360, is it max 2.25%?

I transfer 57k mthly between 2 ocbc360 accounts so 57k earns 2.05% (1% is incremental interest), max 60k. Excess funds are kept in uob1 (2.43%), boc smartsaver (2.55%), scb esaver up to 1.55%, etc. If u are unable to open a second ocbc360 account (joint account with siblings/parents), then transfer your funds mthly between this account and other banks account to max the 1% incremental interest on the full amount (57K to 60k) provided u dun lose interest (read other posts by me to understand this)