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)?

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.

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

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

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.

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%.

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.

What's wrong with IBG?

In the context of OCBC 360.... a bit slower doesn't matter. Just need to do 3 transactions to get the 1.2%.

It's based on average daily amount.

Different bank works. Have not tried 3 different accounts in same bank. I have plenty of savings account so don't wanna risk it

Not sure what time but yes, last day of month. Then the bonus credited a few days later (so far I only have 2 months, both show credited on 2nd of the following month).

This post has been edited by LostAndFound: Nov 30 2018, 04:03 PM

Yep, that's correct.

No, because you haven't spend RM500 on your credit/debit card. You only fulfilled 3 transactions and deposit.

Why would you transfer 2.00 instead of 1.00? You can just do 1.00 to 3 different banks (one of them can be OCBC).

What does 'reload' mean in this context?

You must spend from the card (not from the savings account). Either swipe it physically somewhere or do some transaction which needs OTP. BigPay reload works, as should most other e-wallet.

This specific question was posed to the OCBC rep who came to my office, they said transferring to OCBC CASA (not your own, someone else's) would count.

Yes, I do with instant.

That's a very general statement. In fact if you've maxed out the 5/6% cashback (and even the 2-3% of cards like SCB JOP) 1% isn't bad.

This is inaccurate, OCBC debit card spend doesn't say must be online. So reload boost should be no issue, with or without OTP (Boost got no OTP).

I've been doing RM1, no problem. To be fair I do lots of instant transfers, but always to the same 2 accounts, so the 3rd account I will just transfer RM1.


Savings account 4.1%, higher than all FD board rate and at least half the 'promo rate'. Fully liquid but earning good interest. And you complain about the few minutes to click transfer once a month? Close your account la, no need to trouble yourself.

Should not be an issue. Try to ensure the monthly dates aren't end of the month.

To be safe, can let all three "pass" and then call OCBC to inquire on how many transactions been recorded