UOB ONE Account

[wts2013]

Hi,

Anyone encounter whereby the qualifying transaction on the CC is a different month to the cash saving statement.

Example:
Cash statement for the period of Oct 2015 (01 Oct to 31 Oct)
CC Spending for the period of Sep 2015 ( Mid Sep 2015 to 30 Sep )

As I have only opened my account only in mid Sep 2015. I did not spend the min amount of SGD500. However in the month of Oct 2015, I have definitely spend more than SGD500 on the CC.

Is it the norm whereby the CC spending is base on the previous month ?

hahaha Bonus interest for cc spend is based on same mth spend, ie min $500 cc spend in Oct to get bonus interest on Oct savings account balances which is just credited on Nov 3.

U opened account in Sept, did not meet min spend in Sep, so u did not get bonus interest for Sept supposed to be credited on Oct 1/2?

 

[denial86]

hahaha, chiu's fault lor, for not making sure your transaction dun fall on Sunday lor, for not understanding rules of internet banking lor, hahaha

it is standard banking practice for Sundays/Public Holidays, and for weekdays each bank has its own cutoff times, hahaha

Yeah I suppose it's my fault. Figured someone was gonna point that out. Luckily it's not a life or death so whatever.

But I'm beginning to see why people here don't like you.

 

[wts2013]

Yeah I suppose it's my fault. Figured someone was gonna point that out. Luckily it's not a life or death so whatever.

But I'm beginning to see why people here don't like you.

save for record to report

 

[DarkBlue]

Just want to highlight to you guys, for the ONE Credit Card the cash rebate works this way. Cash rebate ah.. not bonus interest. Bonus interest is every month.

Eg. If you get your card on Nov-2015 (eg. starting month), the 3 months will be Nov-Dec-Jan.

So if you get your card on Jan, Apr, Jul, Oct... it will be better as it follows the official Q1,Q2...etc.

 

[wts2013]

Just want to highlight to you guys, for the ONE Credit Card the cash rebate works this way. Cash rebate ah.. not bonus interest. Bonus interest is every month.

Eg. If you get your card on Nov-2015 (eg. starting month), the 3 months will be Nov-Dec-Jan.

So if you get your card on Jan, Apr, Jul, Oct... it will be better as it follows the official Q1,Q2...etc.

hahaha, there is a detailed discussion on UOB1 credit card rebate for the first Quarter of a new card in the Credit Card Forum, it is more complicated than what u have, read one post here, read the rest there and discuss it there:

http://forums.hardwarezone.com.sg/97182933-post1710.html

this thread is about UOB1 Account.

 

[zoossh]

Zzz yeah.. I did an auto-fast transfer from OCBC to be transferred on 1st Nov which was Sunday. My UOB Account only received the money on 2nd Nov. Like that is OCBC or UOB's fault ar?

hahaha, chiu's fault lor, for not making sure your transaction dun fall on Sunday lor, for not understanding rules of internet banking lor, hahaha

it is standard banking practice for Sundays/Public Holidays, and for weekdays each bank has its own cutoff times, hahaha

both ocbc and uob fault, along with maybank, the few who is the least flexible in terms of fast transfer value dates. and it is not standard banking practice. for scb, it is value dated on same day for sat and sun, isnt it?

 

[Allen_C_Sharp]

Zzz yeah.. I did an auto-fast transfer from OCBC to be transferred on 1st Nov which was Sunday. My UOB Account only received the money on 2nd Nov. Like that is OCBC or UOB's fault ar?

But I did a few fast transfer between Ocbc UOB DBS on last Sunday, all instant received leh~Just the value date is on Monday, but total figure updates was instant.

 

[Allen_C_Sharp]

Bonus interest for cc spend is based on same mth spend, ie min $500 cc spend in Oct to get bonus interest on Oct savings account balances which is just credited on Nov 3.

U opened account in Sept, did not meet min spend in Sep, so u did not get bonus interest for Sept supposed to be credited on Oct 1/2?

This is the most professional reply I saw, without the "hahaha", lol~

 

[NTTDoCoMo]

But I did a few fast transfer between Ocbc UOB DBS on last Sunday, all instant received leh~Just the value date is on Monday, but total figure updates was instant.

If figure is huge probably can transfer on bank business day to earn an additional day of interest.

 

[denial86]

both ocbc and uob fault, along with maybank, the few who is the least flexible in terms of fast transfer value dates. and it is not standard banking practice. for scb, it is value dated on same day for sat and sun, isnt it?

Haha why you drag Maybank into this also? But weird hor? I received an sms notification from OCBC at 7.42am on 1st Nov that my fast transfer has been done, but UOB only reflected it on 2nd Nov. I thought only after 9pm then will reflect next day de.

But I did a few fast transfer between Ocbc UOB DBS on last Sunday, all instant received leh~Just the value date is on Monday, but total figure updates was instant.

Hmm to be fair I didn't actually check if the figures were updated since it was an auto transfer set to 1st Nov. So maybe it's a delay in receiving. So.. Should I blame UOB?

Nehmind haha.. Lesson learnt. I should be closing my OCBC account by the end of this month anyway, no more dilemma already.

 

[galkkl]

1st of Oct your account already have $50k? If not yet, the $60 is prorated interest..

Hi,

Actually my account started somewhere in the 2nd week of October, so I put in $75,000 instead. Based on my calculations, that worked out to be roughly $50,000 on an average daily balance.

And, I also spent > $500 on my UOB One credit card.

So, I was expecting to get the full 2.43% interest... But somehow I suspect that the GIRO salary is not recognized because of the way OCBC put the transaction codes...

 

[Allen_C_Sharp]

If figure is huge probably can transfer on bank business day to earn an additional day of interest.

Ya loh~ 10k can earn almost $1 interest per day at 3%+ interest like BOC, 60k about $6 per day, almost can buy 2 Hokkien mian alrdy

 

[NTTDoCoMo]

Ya loh~ 10k can earn almost $1 interest per day at 3%+ interest like BOC, 60k about $6 per day, almost can buy 2 Hokkien mian alrdy

Most of the time i will try to do FAST on Mon-Sat (excluding Sunday and Public Holiday) before 9 PM.

If it's huge amount, one way is to FAST $1 to check the Value Date. Thereafter Transfer the remaining amount.

 

[Allen_C_Sharp]

Most of the time i will try to do FAST on Mon-Sat (excluding Sunday and Public Holiday) before 9 PM.

If it's huge amount, one way is to FAST $1 to check the Value Date. Thereafter Transfer the remaining amount.

Yup, good idea to use $1 to test value date, as I used to test transfer to new account only.

 

[frustrateddude]

Just to shqre cases whereby the Giro is not activated

1) Hsbc - I ticked the minimum payment tab.
Last month, I paid partial amount (say bill is 60) w maybank $0.1 payment of $50- waiting for $10 to be deducted- it never got deducted and I got slapped w a finance charge $5 (got it waive)
This month my bill was $100 and it just deducted $50 thru giro today- I have to pay the remaining $50 manually today- likely to be charge "fee" again (hope not)

2) I left amount of $20 for my livefresh to be deducted by giro but a $30 cashback makes my amount to go negative, resulting no giro deduction.

 

[edwinttt1978]

He was well aware of the 850 vouchers up for grab in the UOB credit card promotion but was simply not fast enough to beat other people who were just like him. So, Mr Tam cried foul.

Should legislation be imposed to protect slow and intelligently-challenged consumers like Mr Tam?
Should UOB need to also publish the names of 4000 cardmembers who spent $2000 and thereby qualified for the Limited Edition UOB ONE card so that people like Mr Tam do not continue to spend?


Bank's handling of promotion misleading
I recently registered for the United Overseas Bank (UOB) credit cards weekly free buffet promotion.

It was to run for four weekly periods between Aug 15 and Sept 11. Cardholders who spent $800 would be eligible for one free buffet voucher at the Shangri-La Hotel, and those who spent $1,500 would be eligible for two buffet vouchers.

The fine print stated that only 850 vouchers would be awarded.

I spent more than $2,500 by Aug 19 and $900 in the second week, and thought I would be eligible for three buffet vouchers in all.

I did not receive anything from UOB after a few weeks, so I called the bank's card centre. I was told that all 850 vouchers had been given out within the first few days of the promotion, even though the promotion was to run for four weeks.

I question the transparency of this promotion as there was no winners' list published.

UOB had the responsibility to inform customers who registered for the promotion as soon as the vouchers were fully redeemed so that customers would not continue to spend.

Though the 850 voucher limit was stated in the terms and conditions, I feel misled by the bank's actions in this incident.

I hope legislation will be imposed to protect consumers in such promotions in future.

Simon Tam Wing Tsang

Strait Times Forum
http://www.straitstimes.com/forum/letters-in-print/banks-handling-of-promotion-misleading

 

[SBC]

Badly run promotion

 

[denial86]

He was well aware of the 850 vouchers up for grab in the UOB credit card promotion but was simply not fast enough to beat other people who were just like him. So, Mr Tam cried foul.

Should legislation be imposed to protect slow and intelligently-challenged consumers like Mr Tam?
Should UOB need to also publish the names of 4000 cardmembers who spent $2000 and thereby qualified for the Limited Edition UOB ONE card so that people like Mr Tam do not continue to spend?


Bank's handling of promotion misleading
I recently registered for the United Overseas Bank (UOB) credit cards weekly free buffet promotion.

It was to run for four weekly periods between Aug 15 and Sept 11. Cardholders who spent $800 would be eligible for one free buffet voucher at the Shangri-La Hotel, and those who spent $1,500 would be eligible for two buffet vouchers.

The fine print stated that only 850 vouchers would be awarded.

I spent more than $2,500 by Aug 19 and $900 in the second week, and thought I would be eligible for three buffet vouchers in all.

I did not receive anything from UOB after a few weeks, so I called the bank's card centre. I was told that all 850 vouchers had been given out within the first few days of the promotion, even though the promotion was to run for four weeks.

I question the transparency of this promotion as there was no winners' list published.

UOB had the responsibility to inform customers who registered for the promotion as soon as the vouchers were fully redeemed so that customers would not continue to spend.

Though the 850 voucher limit was stated in the terms and conditions, I feel misled by the bank's actions in this incident.

I hope legislation will be imposed to protect consumers in such promotions in future.

Simon Tam Wing Tsang

Strait Times Forum
http://www.straitstimes.com/forum/letters-in-print/banks-handling-of-promotion-misleading

Hahaha this is a joke leh. Although I get that he's upset he didn't get in time but seriously banks also got rules and policies, think they will tell you got 850 vouchers when really don't have and then bluff you meh.. They also get audited right? So funny to run go and complain to news paper.

 

[Yo2020]

He was well aware of the 850 vouchers up for grab in the UOB credit card promotion but was simply not fast enough to beat other people who were just like him. So, Mr Tam cried foul.

"UOB had the responsibility to inform customers who registered for the promotion as soon as the vouchers were fully redeemed ..."

this is a valid pt n i support as a consumer.
many times, registration for promo is done via SMS.
so, the bank shld do the same by sending SMS to inform the registered customers once it is fully redeemed.

 

[chopra]

I agree. Might as well put fine print say first 10ppl by year 2025. Not everyone can spot