ocbc 360 account

[OCBC Bank]

Julian, if i pay my ocbc credit card bill online, would it be considered as one online bill payment?

Hi t13, yes this is an eligible transaction.

^Greg
for OCBC Bank

 

[OCBC Bank]

saw earlier comments that ocbc cards cannot be used to pay prudential as they don't accept.

but can anyone confirm how about giro instead?

Hi there. Yes. Giro payment to Prudential is eligible.


^Caron
For OCBC Bank

 

[ameico]

Hi there. Yes. Giro payment to Prudential is eligible.


^Caron
For OCBC Bank

Hi OCBC,

I don't see Prudential in the list of billing organisations in payments-billing-organizations

Does that mean that GIRO payment to Aviva is available too? Can apply thru OCBC online banking?

 

[Moreau]

I just opened my account online, i going to transfer some money from SCB over, anyone know what is the branch code for OCBC360?

 

[giftgalz]

catch to ocbc360?

my friend went to ocbc today and one of the staff told her the "catch" to this high interest. apparently the bonus interest only kicks in when you hit the requirement i.e. it matters whether you spend the $400 at the start of the month or end of the month. if you hit the $400 early on the bonus interest will kick in earlier. however when i check the Ts&Cs of OCBC, my interpretation is not the same.

http://www.ocbc.com/assets/pdf/Accounts/360-account-terms-and-conditions.pdf

Clause 2.2 states that as long you meet the requirements WITHIN THE CALENDAR MONTH, bonus interest will be calculated based on the average daily balance you maintain.

its either ocbc is trying to hide some information or the staff is dumb. i hope its the latter. what's your take on this, guys?

 

[cloud77]

my friend went to ocbc today and one of the staff told her the "catch" to this high interest. apparently the bonus interest only kicks in when you hit the requirement i.e. it matters whether you spend the $400 at the start of the month or end of the month. if you hit the $400 early on the bonus interest will kick in earlier. however when i check the Ts&Cs of OCBC, my interpretation is not the same.

http://www.ocbc.com/assets/pdf/Accounts/360-account-terms-and-conditions.pdf

Clause 2.2 states that as long you meet the requirements WITHIN THE CALENDAR MONTH, bonus interest will be calculated based on the average daily balance you maintain.

its either ocbc is trying to hide some information or the staff is dumb. i hope its the latter. what's your take on this, guys?

I was told it is within the month so it does not matter when you sign the $400.

 

[Gunboundz]

ocbc customer service told me that Make up pay by mindef not counted as salary and is allowance? Also tell me is not giro based. I check with mindef my make up pay is send thru giro and is considered as your salary hence the SAL code on dbs statement.

 

[arctician]

I was told it is within the month so it does not matter when you sign the $400.

this is my understanding too.it should be independent of the data ur salary comes in..e date u pay e 3 bills..and when u charge the $400

if based on what the earlier post said if our salary comes in on 30th, and make our bills / charge cc on month end, then we wont be getting any interest?

don make sense leh

 

[cloud77]

this is my understanding too.it should be independent of the data ur salary comes in..e date u pay e 3 bills..and when u charge the $400

if based on what the earlier post said if our salary comes in on 30th, and make our bills / charge cc on month end, then we wont be getting any interest?

don make sense leh

From what i was told by the staff when i open my account - The 3 conditions are just determining factor if you get your percentage of 1,2 or 3% (on top of the 0.05%) interest. The actual interest you get is based the daily amount balance itself you have in the 360 account, subject to a max of $50K for the 3%. So it does not matter when within the month you clock your 3 transactions, hit the $400 CC bills or when your pay comes in.

 

[Ronaldo88]

The $400 cc bills can consists of telco bills,utilities bill,insurance premium?

 

[ilovecheese]

I just opened my account online, i going to transfer some money from SCB over, anyone know what is the branch code for OCBC360?

think is 571, the first 3 digits of the account number

 

[ilovecheese]

The $400 cc bills can consists of telco bills,utilities bill,insurance premium?

yes, it can ... anything

 

[Ronaldo88]

yes, it can ... anything

Thank for ur info..yet to open acc.alot of hassle involve in switching current arrangement..

 

[MoDiE]

Thank for ur info..yet to open acc.alot of hassle involve in switching current arrangement..

hassle for $120+ interest per month is definitely worth it for me.. hahahaha

 

[jujuhippo]

went down to ocbc bank with the intention to open the ocbc 360 account just now but forgot today is public holiday -.-

 

[fusilli]

went down to ocbc bank with the intention to open the ocbc 360 account just now but forgot today is public holiday -.-

I did the same thing as you, lol!

 

[jujuhippo]

I did the same thing as you, lol!

haha guess it helps knowing that i'm not the only blur one >.<

 

[xooomer]

Just to check, if the interest is paid on daily average balance, suppose if i only have 10k for first 10 days, then i put another 80k for the remainig 20 days, i should still be able to enjoy 3.05% p.a. interest for the month up to 50k right?

 

[Keverus]

I just opened my account online, i going to transfer some money from SCB over, anyone know what is the branch code for OCBC360?

branch code is first 3 digits..

depends on where u open, nt the account type

 

[gravityz3r0]

Just to check, if the interest is paid on daily average balance, suppose if i only have 10k for first 10 days, then i put another 80k for the remainig 20 days, i should still be able to enjoy 3.05% p.a. interest for the month up to 50k right?

It will depends on how it's prorated.

For first 10 days, your daily average balance is 10/30 x 10k = 3.33k. For the rest the rest 20days, you will get a prorated 20/30 days x (80k+10k) = $60k. So effectively for the whole month your daily average balance is $63.33k.

So yes, you will get up to max 3.05% of 50k which is still overkill. To maximimze your usage without overkill, you only need to top up approximately $61k, which will bring your daily average balance to just about $50k

Invest the rest of your 19k somewhere else more useful