My previous withdrawal with OCB, total amount on banker cheque must tally with amount on FD not one sen more or less, than only is it free.

Yea I gave them a MBB cheque, no OD with MBB. To avoid the risk, I issued a postdated cheque, sign all the necessary documents and instruct them when to bank in. So once I check my M2U that the amount has been cleared then only my RM will process it. Doing so will save my travel time don't have to go OCBC twice.

Unker Gen-X. This promotion already reach target and closed. Just inquired about it since 1 of my FD due today.

Gen-X

Congratulation on your promotion UNKER already, no more Captain or Admiral..

Wah so fast ar.... previous offer 3.7% also closed before scheduled date. And did I not tell you previously not to call me unker. Only pink spider who doesn't know how to spell uncle correctly has the privilege to use it (even tho I know he was being disrespectful)
And thanks for reporting, updated 1st Post.

Your Majesty, don't lah demote me to god knows what unker means (no such word in the English Dictionary) just because I said no good planning, hahaha

Anyway, for those of you with OCBC PB or thinking of getting PB status, in my Fixed Deposit page I have shown how one can combine the 5% 3 Months FD with the Combo to earn maximum interest. And you can continue to do so with this option if your FD matures before end of this year IF you have joint account. The trick is, when you sign up the first time, make sure only the first name applies for PB status. After 3 months, deposit the money again and earn 5% for half AUM but this time the joint account holder name shall be first and get him/her to apply for PB status

This post has been edited by Gen-X: Oct 4 2012, 03:13 PM

Done that already .. but now coming to the end of 6 months .. cannot use the same trick already as both names are already in OCBC PB list. Any other loop holes ... which I am not aware off?


quote tag fixed.

This post has been edited by MilesAndMore: Oct 4 2012, 02:03 PM

FD promo extended to 1-Oct to 5-OCt.

I cannot find the official website announcement on this.

If you got a child above 18 or use your mother's, father's, grandfather's or grandmother's name Brothers, sisters, bf and gf not advisable

tomorrow last day....

if really interested, call your local branch and you will know for sure.

thanks for the tip.

This post has been edited by Gen-X: Oct 4 2012, 03:55 PM

As the matter of fact, I used both OD chq and Rentas tricks yesterday because the renewal amount is greater than my OD limit.
I issued one chq up to the limit of my OD facility for immediate fd placement. Then issued a second chq ( current dated, no need post dated) amounting to the balance of the Rentas amount (Rentas amount minus OD amount ) and gave it to the Relationship Officer and pre signed all documentation. I told the RO to prepare the FD only after i give her a confirmation call in the afternoon. Normally Rentas transfer can be good around 2pm if transfer done in the morning. The RO will then prepare the placement of second FD receipt on current date and mail the receipt to me.

Wonder why I prefer the service of RO instead of RM ? Because things gets done more effectively and faster and she is more hands on and always in the atas office.

This post has been edited by aeiou228: Oct 4 2012, 05:08 PM

I understand that PIDM is up to 250k limit per person per institution. I read somewhere that if say joint account, each person in the joint account is covered for 250k. Does that mean if I joint account with another the coverage will be 500k?

Thanks

Ocbs free banker cheque provided it is under your name and the total amount fd are uplifted. I made a mistake by instructing mature fd to be credited into my saving account. I need to pay rm2.15 for requesting a banker cheque. It is better to give auto renew instruction when matures.

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Added on October 4, 2012, 9:01 pmI have banked in my ocnc banker cheque into my citi bank account today. When checking with the counter, the cash teller and customer service counter staffs both said banker cheque just like normal cheque, need two working days for clearance. I will monitor my balance to see what is the actual clearance day.

This post has been edited by gsc: Oct 4 2012, 09:01 PM

Max RM250k only. For the same bank, conventional banking RM250k, Islamic banking RM250k.

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Added on October 5, 2012, 8:46 amOCBC if bank in savings account also need to wait clearance. I think if deposit in FD only dont have to wait clearance.
Its like banking in normal cheques, FD instant, savings need to wait clearance.

This post has been edited by magika: Oct 5 2012, 08:48 AM

Yeah, this is what I heard too, so I went to PIDM website and have a look myself. Seems like under the same bank, even when you have a joint account, each individual in that joint account will be accorded another 250K MYR protection each.

Do you mean savings account need to wait for chq clearance before interest can be computed ??

At OCBC, deposit Combo previously , all can be done except online FD which needs Banker Cheque clearance into savings.

so if joint does that mean covered RM500k total?

Yes, and if person X has a partnership company account, that is also SEPARATE 250K protection.

My ocbc FD matures yesterday, instead of using my usual rentas Way I tried to use the ocbc banker cheque approach. I used citi bank personal cheque to "renew" my FD and bank in Ocbc banker cheque into citi bank yesterday. Check today, ocbc banker cheque fund is not available until tomorrow. Since I am using the od fund, i have to bear od interest for two days. Should hv used my usual rentas way..

Bro, your Citibank cheque cleared?

Next time can consider munkeyflo method, pass the cheque to RM and sign all document before hand. Once OCBC cheque cleared, call RM