OCBC Card Cheat!!!

[vince123123]

Not true. I've gotten late payment charges waived before from OCBC.

OCBC is the one of the few and maybe only bank which will not waive the late payment charge. Sure it's in the T&C, within their rights and what not.



Anyway, just close all accounts with OCBC since they don't value our biz, it's not like they offer anything special/ value add.


The only strangle hold they might have is the NTUC plus visa. which is tricky if you are member.

 

[zeroX26]

Not true. I've gotten late payment charges waived before from OCBC.

Much has to do with how one speaks to the CSO too. Being polite (& friendly) w/o a demanding tone certainly does help a lot when it comes to having late charges / annual fees waived. Speak in a condescending tone and the CSO will put you on hold to "check with his / her sup" but in reality just sitting there playing his/her fone until the 30 secs is up to tell you nothing can be done

 

[FinalTidus]

So how did the story end?

Did TS self pwn? Wan to know the conclusion leh.

 

[maumu]

Now I know what's the problem... You demanded the CSO to waive off the late charges...Did the CSO confirm with you that the acceded to your demands? Or did you just hang up after stating that you will pay the outstanding amount and wanted to terminate the card?

Much has to do with how one speaks to the CSO too. Being polite (& friendly) w/o a demanding tone certainly does help a lot when it comes to having late charges / annual fees waived. Speak in a condescending tone and the CSO will put you on hold to "check with his / her sup" but in reality just sitting there playing his/her fone until the 30 secs is up to tell you nothing can be done

So how did the story end?

Did TS self pwn? Wan to know the conclusion leh.

the bank obviously was not transparent in charging the TS the outstanding charges. TS already explained that he/she saw no outstanding amounts when logged in the online banking.

normal clients for normal people like us may not know of all the hidden charges imposed by the bank, no matter how they are written in TnC. some individuals will scrutinize every single line, ask the bank what this mean, what that mean. but how many actually do so?

I mean, it looks like TS is crying over spilled milk but the bank on the other hand hid the charges until the letter sent to TS.

anyway banks are like that. they only care about money. just call to ask for waiver of all remaining charges/fees since card already cancelled. else just llst pay up and close all accounts with ocbc, spill the experience over social media, get friends and relatives to boycott the bank.

 

[leoch037]

banks see $ only
similarly, so do us consumers
if ocbc were to offer a 2.5%pa FD tml, pple will still put their $ in irregardless of past bad relationship
financial sector no 感情 one

 

[helloworld321]

the bank obviously was not transparent in charging the TS the outstanding charges. TS already explained that he/she saw no outstanding amounts when logged in the online banking.

normal clients for normal people like us may not know of all the hidden charges imposed by the bank, no matter how they are written in TnC. some individuals will scrutinize every single line, ask the bank what this mean, what that mean. but how many actually do so?

I mean, it looks like TS is crying over spilled milk but the bank on the other hand hid the charges until the letter sent to TS.

anyway banks are like that. they only care about money. just call to ask for waiver of all remaining charges/fees since card already cancelled. else just llst pay up and close all accounts with ocbc, spill the experience over social media, get friends and relatives to boycott the bank.

but he owe the late charge. it's not gonna just disappear because he canceled it. Imagine i owe singtel 'late charge'. i call them and ask to waive off, they say no..so i say i'll cancel it.. does that mean the charges will disappear? NO what....

 

[maumu]

but he owe the late charge. it's not gonna just disappear because he canceled it. Imagine i owe singtel 'late charge'. i call them and ask to waive off, they say no..so i say i'll cancel it.. does that mean the charges will disappear? NO what....

logically, if the bank has closed the card, they should have cleared any outstanding charges with the customer before doing so. why leave a lobang at the back-end?

from TS description it looks like the bank already removed the card from the online account - which implies that the account is closed. so there should not be any outstanding charges on the card (whatever hidden fees should be declared before it is closed, no?).

so TS is caught by surprise how come there are still charges months after the card is cancelled. he/she tot the outstanding charges are already written off. I think that's the common understanding for normal customers... no? would you still harbor the tot that the banks is charging you behind your back when the card is already cancelled?

anyway it just doesn't seem like OCBC has been transparent in their dealings with TS. or TS did not give the full picture of how the charges came about (after the card has been cancelled).

 

[catlover24]

I have been as transparent as my memory allows.

Anyway, just received an SMS from OCBC:

OCBC: We have approved your credit card waiver request. This will be shown in your next statement. In the meantime, please ignore the interest and/or late payment charges when you make payment for your bill. If you have any questions, please call 1800 363 3333

I hope this episode is closed. I am still considering ending all business with OCBC, especially now that DBS Multiplier has better interest rate. Also, I've been a happy Citibank card customer for 5+ years, no issues with waiver requests, very obliging. They even let me off 1-2 times when I paid 1-2 days after the official due date, no late charge/interest.

Regarding tone with the CSO, I was angry but never resorted to personal attack or vulgarities.

 

[leoch037]

ocbc shouldn't allow TS to cancel the card when there's still outstanding balance but i do know that a closed account doesn't mean that a negative balance will become zero
similarly, we have the right to ask for refund if there's positive balance

maybe TS threaten to cancel card to get waiver but ocbc didn't give in, did as requested and now this card cancellation action resulted in the removal of details on the outstanding balance

maybe TS can use this missing information to request for waiver of the additional late charges + interest after the card was cancelled
but the initial late charge + interest b4 the card was cancelled will be a bit hard to waive

it's been a few days already and we still not see this reply

Hi TS,
Please drop us a PM and we will arrange for our service executive to call and assist.

 

[makav31i]

logically, if the bank has closed the card, they should have cleared any outstanding charges with the customer before doing so. why leave a lobang at the back-end?

When you cancel your cards usually they will tell you that you might still be liable for charges that you charged to your card that has not yet been posted by the merchant...You should have a final bill with all the charges and clear that bill...Not tell the CSO that you will pay a certain amount and demand to waived the other amount...

from TS description it looks like the bank already removed the card from the online account - which implies that the account is closed. so there should not be any outstanding charges on the card (whatever hidden fees should be declared before it is closed, no?).

Some merchants take about a week to charge your credit card...Imagine you booked an airline ticket and you immediately terminate your card...At the point of termination, you might not have any outstanding amount as the merchant have not yet charged your credit card...

so TS is caught by surprise how come there are still charges months after the card is cancelled. he/she tot the outstanding charges are already written off. I think that's the common understanding for normal customers... no? would you still harbor the tot that the banks is charging you behind your back when the card is already cancelled?

anyway it just doesn't seem like OCBC has been transparent in their dealings with TS. or TS did not give the full picture of how the charges came about (after the card has been cancelled).

End of day, like I say, burden of proof falls on the TS...It is just hearsay without any evidence posted by the TS to back his claims...

 

[makav31i]

I have been as transparent as my memory allows.

Anyway, just received an SMS from OCBC:

OCBC: We have approved your credit card waiver request. This will be shown in your next statement. In the meantime, please ignore the interest and/or late payment charges when you make payment for your bill. If you have any questions, please call 1800 363 3333

I hope this episode is closed. I am still considering ending all business with OCBC, especially now that DBS Multiplier has better interest rate. Also, I've been a happy Citibank card customer for 5+ years, no issues with waiver requests, very obliging. They even let me off 1-2 times when I paid 1-2 days after the official due date, no late charge/interest.

Regarding tone with the CSO, I was angry but never resorted to personal attack or vulgarities.

Good for you that they decided to waived the fees off for you...

 

[maumu]

When you cancel your cards usually they will tell you that you might still be liable for charges that you charged to your card that has not yet been posted by the merchant...You should have a final bill with all the charges and clear that bill...Not tell the CSO that you will pay a certain amount and demand to waived the other amount...

Some merchants take about a week to charge your credit card...Imagine you booked an airline ticket and you immediately terminate your card...At the point of termination, you might not have any outstanding amount as the merchant have not yet charged your credit card...

i'm pretty sure TS meant by the charges are the late payment charges or any penalty charges imposed by OCBC itself and not charges from merchants/retailers...

if it's because of retail payments then of course TS is wrong not to pay for them. TS would have committed the offence of using the credit card fraudulently to obtain goods for himself, without clearing the bills.

 

[makav31i]

i'm pretty sure TS meant by the charges are the late payment charges or any penalty charges imposed by OCBC itself and not charges from merchants/retailers...

if it's because of retail payments then of course TS is wrong not to pay for them. TS would have committed the offence of using the credit card fraudulently to obtain goods for himself, without clearing the bills.

He posted this...

Turns out two transactions were charged to my card (15.4 and 16.28) AFTER i cancelled my card, again without any means for me to check and verify
So they essentially neglect the due diligence and process when closing a card for a customer
Let transactions still be charged to a cancelled card

So the TS got late payment fees and 2 more transactions posted to his card...

 

[helloworld321]

logically, if the bank has closed the card, they should have cleared any outstanding charges with the customer before doing so. why leave a lobang at the back-end?

from TS description it looks like the bank already removed the card from the online account - which implies that the account is closed. so there should not be any outstanding charges on the card (whatever hidden fees should be declared before it is closed, no?).

so TS is caught by surprise how come there are still charges months after the card is cancelled. he/she tot the outstanding charges are already written off. I think that's the common understanding for normal customers... no? would you still harbor the tot that the banks is charging you behind your back when the card is already cancelled?

anyway it just doesn't seem like OCBC has been transparent in their dealings with TS. or TS did not give the full picture of how the charges came about (after the card has been cancelled).

If i close mycard. i would still expect a final statement. Why the hell would i assume it's written off?


I recently closed one of my account with few k charges, i wish it was written off.LOL who would't, of course i had to pay when the bill came.

 

[Pradeep1]

it's crazy lucky i use UOB card

 

[VEF888]

Not true. I've gotten late payment charges waived before from OCBC.

I think they allow one per year or something like that. After that, don't think they will waive, whereas for other banks: no question asked.


and they can be quite high and mighty about the annual fee waiver as well, other bank it's a given :



https://forums.hardwarezone.com.sg/...rds-annual-fee-waiver-ridiculous-5282819.html


https://forums.hardwarezone.com.sg/...43/ocbc-very-strict-late-charges-3617752.html

 

[jetblack]

Credit card losing revenue has nothing to do with overall profits

Obviously u are.. not even fit to argue.

OCBC Group First Quarter 2018 Net Profit up 29% to S$1.11 billion...

https://www.ocbc.com/assets/pdf/quarterly-results/2018/OCBC 1Q18 Financial Results.pdf

OCBC Group Second Quarter 2018 Net Profit
Up 16% Year-on-Year to a Record S$1.21 billion...

https://www.ocbc.com/assets/pdf/quarterly-results/2018/OCBC 2Q18 Financial Results.pdf

Maybe OCBC is really shortsighted and "losing a lot of revenue."

 

[iMac]

Please NEVER sign up for any OCBC credit cards, this is my experience.

JUNE 2018
Outstanding amount of 33.99 on OCBC 365 card
Missed due date incurred 100+ late charge plus interest charges
Unable to waive late charge on request, so I paid 33.99 and asked to cancel card and waived charges
Card cancelled, card no longer visible when login to my OCBC Internet Banking. I thought case closed.

27 AUG 2018
Suddenly received SMS saying 335.02 overdue on cancelled card. Shock of my life.
Turns out, the late charge wasn't cancelled and allowed to accrue without me ever knowing (no info on cancelled card each time I logged in to internet banking)
Turns out two transactions were charged to my card (15.4 and 16.28) AFTER i cancelled my card, again without any means for me to check and verify
So they essentially neglect the due diligence and process when closing a card for a customer
Let transactions still be charged to a cancelled card
Purposely keep quiet
Then BOOM.
Called OCBC Card Centre, who will do an investigation and get back to me in 1-2 working days

Will update on these cheats.

TS, you should use GIRO to pay your CC bill if you have a habit of missing deadline.

 

[thean8el]

ts can totally transfer service to other banks as u wish (some had reiterated here even issues with their services before eg.their bonus savings interests rate they also didn't inform customers via anything when they decided to change the rates some time back regards to when they launch)

 

[LexusIS]

TS, you should use GIRO to pay your CC bill if you have a habit of missing deadline.

For me I never believe in paying without checking. There are occasionally lapses when I don’t receive statement, receive statement late or just plain forgot cause I m busy. But so far the banks waive my late charges as it is usually a one off.

Some banks do have the SMS alert which I greatly appreciate, especially in the event I really miss out.