Hi,e smart saver account can't transfer out using online banking.need go branch.
I went just now closed my account.

If you read back their t&c,withdraw 25k per calendar year.

So I choose closed account.

Hope you understand what I mean(poor English)

OCBC 9month 4.15%

UOB same with last year promo

hsbc fd promo extend again...

This post has been edited by poor man: Jan 1 2016, 02:22 PM

how can get rm 200 from ocbc ??
who can know their promo t&c :
http://www.ocbc.com.my/personal-banking/mr...s_Challenge.pdf

i opened a mach money box account without any card. you have to insist you dont want atm or debit. some bank staffs lack knowledge and if they refuse to open an account for you, please go to a bigger branch like the main branch.

This post has been edited by kit2: Jan 1 2016, 02:51 PM

it appears hong leong bank has a facebook page and they are quite responsive. try taking your questions (and complaints and grievances) there.


Attached thumbnail(s)

OCBC 12 months was 4.5%,
4.15% 9 months is not attractive at all considered that there are 3 months FD at 4.15% as well as 4.5% for 6 months.

Yes,you're right.

Just now went asked and no placed with them


Directly go to UOB

no ibft option on my ocbc online banking too. with ocbc's daily transfer limit at miserably low of 10k, even with ibft, you might need a few days to transfer all your money out.

This post has been edited by kit2: Jan 1 2016, 03:27 PM

Looks like Hong leong - 4.5% for 6 months still the best at the moment.

Yes, notice that the IBFT option is now not available.
I call up the customer service centre. The support staff inform me that this option is temporarily removed. She mentioned that the instant transfer can still be performed via OCBC ATM machine for now.
Ask her when this service is available back for online banking, she could not give an answer.

I did ask her whether the 10K limit will be increased to 30K as to be aligned with most banks.
She mentioned that OCBC had plan to increased the 10K limit. No timeline given yet.

This one ah, you need to take 2 months CASA statement, that shows you are earning 4.1% pa in that account. OCBC is quite confident that no bank can beats their 4.1% pa 360acc

no any acc can fight 360acc 4.1%....

I am very sorry, for being out of topic. My issue is more of OCBC IBFT, with some relevance to OCBC e-SmartSavers, a saving account that should be correctly described as a fixed deposit account. Well, it is the time to close this 'fixed deposit' account, by moving out all funds from it.

Definitely, for the past weeks, there was an option to select 'MEPS Instant Transfer', but the option was missing as of yesterday.

Is it a 'clever plan' by OCBC to disable 'MEPS Instant Transfer', to stop us from transferring our fund from e-SmartSavers account using online IBFT, since this 'fixed deposit' account loses its attractiveness starting 1 January 2016? It is just my opinion, though.

This post has been edited by kart: Jan 2 2016, 07:41 AM

Thanks for expressing your opinion.

So, did you close your e-SmartSavers account on 1 January 2016, a public holiday? Which OCBC branch did you go to?

I quickly checked though OCBC branch listing. Correct me if I am wrong, but there is no OCBC branch that opens during Saturday or Sunday.


Does IBFT transfer via OCBC ATM cost RM 0.53, or is it more expensive than that?

So, there is virtually no capping on the amount of money that can be deposited into an OCBC saving account, but there is comparatively low online transfer limit of RM 10000 from OCBC saving account. A smart way for OCBC to boost their deposit amount.

In my opinion, with such restrictive measures imposed on OCBC 360 Account, OCBC 360 Account is no longer a true saving account.

Since when is your credit card directly associated with the interest rate of your saving account? 1.2 % of interest, gained from spending RM 500 on OCBC Credit Cards, is not really the interest of saving account, but instead is taken form Merchant Discount Rate (MDR) from the credit card transaction. If OCBC claims that 1.2% is high, the cashback of many credit cards suggested in this Finance subforum can easily beat that 1.2%.

Most of users in this Finance subforum use specific credit cards to pay bills and other things, to maximize cashback. It would be difficult for us to spend RM 500 on OCBC Credit Cards, and pay any 3 bills online every month, while earning no cashback along the way.

I guess that it is best for us to stick to what OCBC is really good at, which is Fixed Deposit Account (4.5% per annum ).

This post has been edited by kart: Jan 2 2016, 08:39 AM

That's what I have been saying. OCBC is not a sincere bank. Too many terms and conditions to get those interest. Not worth it. People still refused to listen.

Btw, if you want to withdraw your money, instead of using IBFT, just go straight to the bank. That way they cannot deny you of withdrawing morw than rm10k. Online IBFT is down for ocbc this moment.

This post has been edited by Ramjade: Jan 2 2016, 08:41 AM

^
I agree with you, Ramjade.

The reason that I want to transfer all of my money as soon as possible is that I am not gaining any interest on the money placed on OCBC e-SmartSavers this month.

Normally, ATM transactions cost more than online banking transactions. Plus, OCBC banks only open next Monday.

So, there is a potential loss in saving account interest for 3 days, even though my money is tiny, compared to those HNWI here.

Better use Ambank Islamic eFD for 1 month money as it gives 3.15 and you can place the eFD with min of 1k unlike other eFD. Ocbc e-SmartSavers require you to lock up the money for 1 month or else interest is negligible. Interest given is only 3.05%. Both same. Lock money up for 1 month. Better choose Ambank Islamic eFD which gives extra 0.1%

OCBC Melaka branch do have a 7 days banking from 9.30am to 7.00pm
(except Chinese New Year, Hari Raya Aidilfitri,
Labour Day, National Day,
and Malaysia Day)

OCBC branch listing

As from 1st January, 2016, IBFT fee per transfer is capped at 0.53 cent

10K is the daily limit and was the previous limit before the industry revised the recommended limit to 30K.
From around July last year, there was a proposal in the industry to raised the limit to 30K and capped the fee etc.
The idea is to discourage the use of cheques.


As I know so far, the following is the daily limit and fees
Transfer can be done via online banking or at the bank ATM machine

Bank__________Daily Limit____ Fee_______Remark
Alliance Bank___10,000________0.53
PBB___________10,000_______0.53
OCBC__________10,000_______0.53______Temporarily not available, but can use ATM to perform IBFT
AMBANK________10,000_______0.53______Not available via online, but can use ATM to perform IBFT (10K limit)

Maybank_______30,000________0.53
RHB___________30,000________0.53
CIMB __________30,000________0.53
UOB___________30,000________0.53_____Free for eAccount, 50K limit for GIRO


AFFIN__________50,000_______0.53
HLB____________50,000_______0.53
HSBC___________50,000_______0.53
SCB_____________50,000_______Free


Please note that from time to time, these figures may change.
I do not have the figures for UOB ( I remember some post back, some one mention is 30K), HSBC and CITIBANK.

My gut feel is the limit would increase in the future as the banking industry want to move away from usage of physical cheques.


*edit to include HLB*
*edit 2 to include UOB & HSBC*


This post has been edited by safilo: Jan 2 2016, 12:09 PM