What credit card are u using?

Different card for different purpose.
Cimb Lazada card
Hong leong bank debit card for Digital day promo
Maybank ikhwan gold
Maybank visa signature Barcelona
Public Quantum
Bigpay card

Why should I use ocbc bank when they are not attractive at all?

Can someone verify a few things:-

1. Does the date you fulfil the conditions matter?
2. The transaction "INTEREST CREDIT" on the last day of the month, does that include the bonus interest?

My scenario (new OCBC 360 account) looks like this:-

28-Sep Deposit 500.00
28-Sep Deposit 6300.00
28-Sep IBG out -1.00
28-Sep IBG out -1.00
28-Sep IBG out -1.00
28-Sep charged for Debit card -8.00
30-Sep Deposit 3702.90
30-Sep Interest Credit 0.33

I've been trying to figure out how the 0.33 comes about. As I understand it the daily average interest would be 452.60, which would give (assuming 0.5% interest) RM0.186 per day, or RM0.372 for the two days 28/29 Sep. Also at the very least should be getting the 1.2% bonus from depositing 500 ringgit minimum (as well as 1.2% from the IBG)?

Interest credit which is debited earlier should be the 0.5%,
whereas the (1-3x) 1.2% will be 2 days later.
And it matters when your posting date takes place, if it gets posted in the following month, it's counted for following month's interest

This post has been edited by Sumofwhich: Oct 5 2018, 09:57 AM

Posting date is for CC transactions not bank transfers right? I always use instant transfer since its free, understand that IBG will only count the following day.

Yes correct, did they not include the 3x bank transfers (1.2%) on Oct 2nd?
Could it be because it's a new account hence not counted last month?
Prolly need to ask CS

Okay I got the bonus interest on Oct 2nd, 78 cents each. So yeah 1 ringgit instant transfer works.

Sorry, I was not aware of the actual mechanism of OCBC 360 Account. Thank you for your clarification.

1)


So, as you said, if we transfer RM1 to our Savings Account in other banks with IBG/IBFT, it will be counted as bill payment, and we can get additional 1.2% interest, right? That is awesome.

2)
The terms and conditions are not quite clear enough on the part of "deposit minimum RM500 per month". Assume that I deposit RM 500 into OCBC 360 Account via IBFT. A few seconds later, I transferred the entire RM 500 to my savings account in other bank via IBFT. Am I still eligible for 1.2% interest, for depositing minimum RM500 per month?

3) I have same concern as you. Has there anyone managed to open OCBC 360 Account, without getting OCBC Debit Card? Once we have access to OCBC Internet Banking website, we can control our OCBC 360 Account, without the need for OCBC Debit Card.

This post has been edited by kart: Oct 6 2018, 10:21 AM

Sorry for late reply
1) confirm correct
2) Don't la few seconds, transfer out the next day la
3) just open the account, then later cancel the card. Should be doable. Tell them I don't need the card.

Without the debit card, how to access the cash? Do they still give out ATM cards?

IBFT out to other banks la.

To save 8 ringgit a year. Plus you'd still need to hold an OCBC CC if you're planning to max out the 4.1% (rather than 2.9%) by spending 500, which you wouldn't if you had the debit card. So you'd have to spend at least 25 per year (of course will also get the CC benefits).

Seems like cost-benefit slightly tilted to me.

Please la. Why should I use use ocbc card which practicality give me close to zero percent benefit when I can earn free RM25/month (5% cashback) from other card which is equal to RM300/year based on RM500/month spending. RM300/year = > what the 4.1%p.a can give me up to RM30k. Beyond that RM30k, then 4.1% is a better option. See my previous calculation in this thread.

See this link for more info.
https://forum.lowyat.net/index.php?showtopi...post&p=88747815

This post has been edited by Ramjade: Oct 8 2018, 07:38 PM

Does it work if I GIRO and using the recurring transfer option?

Anyone else finds OCBC's security options really annoying? Login need OTP, transfer (even to favourite) need OTP, everything also need OTP.

Is there a way to reduce the number of OTPs required? Maybank I can login and transfer to favourite without OTP, for example. And most banks which require OTP is either for login (and then since you're authenticated no need any more) or for transfer (since that's movement of money), not both!

Why would using an OCBC card prevent you from earning with other cards? Your basic assumption is that you use the OCBC card to spend on something that you would normally use another card (with 5% cashback) for. But not every type of transaction can earn 5%.

Furthermore e-wallets allow you to withdraw what is loaded, so you can just reload more and withdraw. Marginal cost is less than what OCBC gives you, so no loss to you at all to get that extra 1.2%.

Er if your spending only in RM700-1000/month, why use ocbc card? You forgotten that there are ways to bridge the cards to get 5% cashback on all transactions, anytime, any day. (eg. BigPay)

Would like which ewallet allows online withdraw to bank account.

1) Yes, you can even transfer the money back to your OCBC 360 account after that if you want to since most banks are offering free IBFT nowadays.

2) You can transfer the money out immediately after depositing the RM500. You can even transfer more than RM500 if your balance is sufficient. As long as there is a RM500 deposit, you will get the 1.2% interest.

3) Actually, it is possible to register for OCBC online banking without a debit card. However, many staff are unaware of this so they might insist that it is necessary to have a debit card for that.


For OCBC, you cannot perform IBFT without a debit card.


If your intention is just to maximize the interest for OCBC 360, getting a debit card is more cost effective.


I find that very annoying too. Unfortunately, there is no way to reduce the OTPs as far as I know. You are right about using OCBC card to get the extra 1.2% interest. It is very easy to achieve nowadays and the cost can either be minimal or free depending on how it is used. Last time, it was harder to achieve and have to sacrifice something to get that extra interest.

Really. Thanks for the info. Will t dry and see.

How to do for free?

Boost for one.

If your spending is 1k doesn't mean you must use OCBC and spend part of that 1k. You can reload your BigPay with 1.5k, 1k from your normal cards and 500 from OCBC. Then withdraw direct (after 6 months to minimize withdraw cost) or reload Boost for to-bank transfer. Net cost to you is 0.2% for withdraw to bank account when you are getting 1% from OCBC.

Hi ,u using ibg or instant ya?
Coz i dont have debit card cant use instant
Thinking wanna go get back the debit card not ,else troublesome cant use instant