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 OCBC 360 Savings Account - Up to 3.25% Interest !, Get higher interest on your savings acct

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Nom-el
post Apr 15 2016, 07:04 PM

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QUOTE(lepakboy @ Apr 13 2016, 10:51 AM)
I have actually opened this account. Personally I use it as sort of an FD as the rates are decent and I like the ability to withdraw my money when I want to. The card spend isn't actually that bad especially if you are a Great Eastern customer. (their Great Eastern Plat Card splits your premium over 12 months)

I did compare it to Maybank's and Hong Leong's offerings but

Maybank Premier Plus - requires RM500,000 balance to earn 2%?  bangwall.gif Might as well dump it all in an FD.

Hong Leong Pay & Save - Paying 15 Bills to get 1.9%? I mean how many bills do you have unless you're running a business  blink.gif
Only thing I can complain about is probably the lack of ATM's. But then again, i guess it forces me to spend less and save. Which is the reason for opening the account in the first case!  rclxm9.gif
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For the Great Eastern auto-IPP, does the installment amount still count towards the RM500 spend on credit card part? Or only those insurance premium that is not converted to installment counts?

For Pay & Save account, online IBG is also counted as an online transaction. You can even use it to pay your other banks' credit card for e.g.


QUOTE(HarpArtist @ Apr 13 2016, 01:40 PM)
yes i split my cc payment into 3 and it works.
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thumbsup.gif


QUOTE(aromachong @ Apr 13 2016, 05:54 PM)
i have many savings account here

so (1) serve me the purpose and i like my smart savers very much.. no need headache.. just dump 1 k every month for extra money.

unlike ocbc 360, it has limit for the savings to earn u interest

smartsavers u can put 1 mil 2 mil as u like as there is no limit restrict by bank
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If really want high intrerest for big amounts, can consider OCBC Premier Save account,
200K and above - 3.33% (4.00% promo rate)
less than 200K - 1.00%

Nom-el
post Oct 3 2016, 05:07 PM

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QUOTE(deity01 @ Sep 22 2016, 10:43 AM)
can
i tried paying my housing loan acc with RM1 and it counts fulfilling the payment criteria
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You can even split the payment to fulfill the 3x criteria. Paying the CC counts too.


QUOTE(Ramjade @ Sep 22 2016, 07:19 PM)
Who keeps rm20k/account? Most people keep rm5-10k. Besides how often do you see an ocbc atm machine?
If a person spends like rm2k-rm3k/ month still better to go for other eGIA-i than ocbc 360.
Why? Maybank ikhwan, public bank visa signature, maybank visa signature,

Sorry la. I am anti-ocbc as I feel that they are not genuine. A genuine bank will give you clear cut way.

Let's ask cklimm for hia opinion. Is ocbc 360 worth it for some guy with rm20k in his account?
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If the rate is attractive, I believe many would keep 20k in the account, maybe even up to 100k if they have the money. Why not? When the rate is even better than promo FD rates, why would one want to put into short-term FD. It is even better than short-term promo FD as one can withdraw anytime without any penalty.

Another thing, OCBC 360 is a savings account with PIDM protection where both the principal & interest (4.1%) are guaranteed while GIA is an investment account with no PIDM where the principal & profit (3.6%) are not guaranteed.


QUOTE(Ramjade @ Sep 23 2016, 03:18 PM)
Alright, since you tak puas hati, I give you another photo. An eg where the person don't maximise their cashback.
user posted image

Note:
1. Maybank Ikhwan usage for both comparison did not hit the maximum cashback of RM50 (as requested by deity01)
2. Spending of both is at RM1k
3. Inclusion of both OCBC Ti & CIMB CB to demonstrate stuff not covered by Maybank Ikhwan (bills/insurance/others) which also did not hit the max cash back of CIMB CB.
4. Since one need to spend min RM500 with a OCBC CC to be eliglible for the 4.1%, there's no other way to decrease the amount to lesser than RM500.
5. I did not include in the high level Maybank Visa Signature and Public Bank Visa Siganture as how many can afford to apply for them? The ones I include are Maybank Ikhwan, Cimb CB, OCBC Ti which needs only need about RM30k/year of salary. 

I think with so many proof, the result is crystal clear.  thumbup.gif  thumbup.gif

I rest my case.  biggrin.gif  biggrin.gif

OCBC 360 IS GOOD IF you compare against a normal account paying like 0.1%/1%/2.x%. But what I am saying is there are better alternatives available IF one wants to get maximum returns.
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There are other better OCBC Cards out there that you failed to mention. For e.g. OCBC World MasterCard (1.2% rebate on the first RM1,000 spent) or OCBC 365 MasterCard (1.0% rebate on first monthly spend of RM1,000). Why compare with Titanium that only gives 0.1% rebate? There is no reason a person cannot combine OCBC card with other cards to earn more cashback. Only RM500 spending is required to qualify for the bonus interest.


QUOTE(deity01 @ Sep 23 2016, 01:26 PM)
yup...those are ideal cases..everyone hv 5% cashback card? everyone can maximise their cashback? everyone spend that much? your calculation is for the ideal world only..math is just math..real world dont use math to calculate...

I do hv ikhwan 5%, ocbc titanium, OCBC 360, placed eGIA b4..like me..i spend on gov related transactions on ocbc ti which earn me nothing from ikhwan..but still earn the miserable 0.1%CB..like I said earlier...these are just tools, you are the one who determine how to use those tools...

hv everything and use everything when it is necessary/appropriate...u so like to calculate, y dont u go calculate if ppl use the ikhwan 5% + OCBC 4.1% + OCBC ti CB will gain how much instead of keep promoting OCBC 360 is no good..this will benefits everyone the most..
shakehead.gif  doh.gif

you are talking like: ppl, please stay away from OCBC 4.1%, always say NO to OCBC360..still not bias?
I will tell everyone...please try to hv everything and use them wisely..
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QUOTE(deity01 @ Sep 23 2016, 03:53 PM)
u are very funny, y keep on want to argue? add cimb CB pula..later u tak puas hati u can add WISE arr..M2C amex aa..CITI CB aa or watever u want..

y cannot just urge ppl to get and use whatever then hv wisely?

still Mr.Calculator, your math is just assuming ppl will get that amount of CB, hv all the card that you hv mentioned, can always spends on the categories that entitle CB..can always spend minimum 1k...ppl only hv that amount of saving... sweat.gif  doh.gif
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I could not agree with you more. nod.gif There are so many possible scenarios where the account would be a good choice for the individual.
Nom-el
post Oct 3 2016, 05:20 PM

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Yes. nod.gif
Nom-el
post May 23 2017, 01:48 PM

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OCBC has revised the terms & conditions for OCBC 360 Account: -

https://www.ocbc.com.my/assets/pdf/Accounts...1115_ACC360.pdf


Among the highlights are: -

1) Credit card bill payment is no longer considered as eligible for Bill Payment category for Bonus Interest

2) Multiple payments to the same account will be considered 1 payment only, meaning split payment does not work anymore

3) IBG payment to other banks will be included as well in Bill Payment category

4) Minimum balance is RM0 now instead of RM20. However, account with RM0 balance for more than 90 days will be closed.

Nom-el
post Jul 6 2017, 05:05 PM

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QUOTE(stup1degg @ Jul 4 2017, 09:14 PM)
hi, is this IBG transfer to other bank saving/current account? will consider "bill payment"?

if i pay bill using ocbc online banking by rm1 to TNB,  rm1 to maxis, rm1 to tm, will this consider 3 x "bill payment"?

thank you
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Yes, all considered as "bill payment" including IBFT. IBFT is currently free until 28/9/2017.


QUOTE(Tutuppintu @ Jul 6 2017, 10:44 AM)
thank you for your prompt reply. smile.gif in sandakan, we only have OCBC al Amin, so im using the 360i, since they say islamic bank cannot have credit card, i have to use their debit card RM500 a month.
Last month i did 3 'bills' payment on the 28th june, (to 3 different credit cards) but didn't meet the criteria sadly. I already did deposit RM500 and use RM500 on the debit card.

This month cuba again, already spent RM500, already bank in RM500, now to transfer IBG 3 different accounts and hopefully i get all the bonus interest

happy earning 4.1% thumbup.gif  thumbup.gif
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The 3 different credit cards are all from OCBC or from different banks? If from OCBC then, will not qualify for bonus interest. Else, should be eligible but I have not tried it before so cannot confirm.
Nom-el
post Aug 6 2017, 03:27 PM

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QUOTE(Tutuppintu @ Jul 12 2017, 03:57 PM)
i paid 3 different credit card (2 from maybank with AMEX and MASTECARD and 1 from UOB VISA) all didn't qualify.

as one forumer had mentioned.. IBG does qualify. So I am going to try to transfer to 3 different bank accounts this month.

If this month i dun get the full 4.1%.. then i will do the RM1 to TM, RM1 to ELECTRICITY and RM1 to DIGI bill.
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How did you know you the credit card payments did not qualify for the bonus interest? Did you confirm with customer service or did you assume that is the case?
Did you managed to get the full 4.1% after trying with IBG then to other banks?

I also experienced not getting the correct bonus interest recently for OCBC 360 Account-i. I fulfilled all the conditions but did not get the full bonus interest. I checked with customer service and was told I did not spend RM500 on my debit card. I checked my transactions online and the total spending was indeed RM500 or more. Some were posted as MyDebit while others were posted as Mastercard transactions. Maybe that was the problem. I forwarded the records to the bank and still waiting for their response.

Anyone else having this problem?
Nom-el
post Aug 8 2017, 02:59 PM

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QUOTE(justanovice @ Aug 6 2017, 09:07 PM)
If you open account with ocbc al amin branch (islamic banking) then must use debit card to fulfill rm500 spending. Islamic branch do not have credit card.
If you open account with ocbc conventional branch, then must use their credit card instead.
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OCBC Al-Amin only offers islamic banking products, so can only open 360 Account-i. However, for conventional branches, they offer both conventional & islamic accounts, so both accounts can be opened there as well.

QUOTE(vinn @ Aug 7 2017, 12:27 AM)
I see. so the Islamic banking account will be 360-i account?
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Yes.
Nom-el
post Aug 9 2017, 07:10 PM

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QUOTE(Tutuppintu @ Aug 9 2017, 12:21 PM)
hi.

yes i got my 4.1% for 360-i account for july (note im using islamic bank) by doing the following:

Deposit RM500

Use the debit card RM500

Transfer RM11 X 3 to different bank accounts (3 to maybank all different bank account no)
[attachmentid=9027821]
pix above is june when i did not meet the 'bill payment' criteria (as credit card bill payment apparently doesn't qualify after speaking to OCBC customer service)

[attachmentid=9027822]
pix above is july when i did as what i mentioned above in this post.

I do not know why the description for spending profit is different in june vs july .. but i am certain i did not earn the bill payment criteria in june because of credit card payments.

and in case any other forumer worried if you set 'goals' on OCBC online banking platformo it will affect you earning the interest. Answer is, it will not affect your interest when you set goals. So go ahead and set goals if it helps. I have earned my 4.1% setting goals + doing the above.

This month i will try to do a combo of online purchase + local spend for the debit card and will report back if online spending with debit card DOES NOT qualify. but it should based on my understanding..
happy earning 4.1% thumbup.gif
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QUOTE(Tutuppintu @ Aug 9 2017, 12:39 PM)
as i live in small town, there are only that few merchants that let us use debit/credit card to pay for goods.

below what showed up in mine for july spending
[attachmentid=9027854]

this month august.. i have a different description on my statement when i made a purchase with debit card.. i will report back IF it doesn't qualify

[attachmentid=9027863]
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Thanks for sharing. Both online & offline spend for the debit card are counted for the total debit card spend. My issue has been resolved by the bank. The dept. doing the calculation calculated the total wrongly, it seemed. I was initially told that my spending was only roughly half the required amount. I don't know how they managed to get that amount, I guess maybe they calculated the MyDebit & DC entries separately. Hope they have resolved the issue & this won't happen again in subsequent months. So, do check the bonus interest to ensure that the amount is correct.
Nom-el
post Aug 14 2017, 05:42 PM

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QUOTE(justanovice @ Aug 12 2017, 01:37 PM)
Tutuppintu may i know the 3 transfer to your MBB account is using ibg or instant transfer?
Thanks
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I have tried both and both also count as bill payment.


QUOTE(AskarPerang @ Aug 13 2017, 06:46 PM)
Hi, a quick question here.

The RM500 usage on OCBC Credit Card counted only for swiped usage? Is online usage / purchase using OCBC Credit Card counted to this RM500 amount? Thanks.
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No. Online purchase included as well.
Nom-el
post Aug 19 2017, 12:57 PM

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QUOTE(lil_flank @ Aug 18 2017, 08:21 AM)
Is paying an OCBC credit card or other bank credit cards using Ocbc Online banking considered as bill payment?
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QUOTE(Tutuppintu @ Aug 18 2017, 03:09 PM)
i dunno about paying OCBC credit Card, but other bank credit card using OCBC online banking DOES NOT considered as bill payment.

But IBG or Instant Transfer is considered as long u transfer more than RM10. So just transfer RM11 to be on the safe side to 3 different bank account numbers (even though same bank is ok)
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According to another forummer from the FD thread, payment to OCBC credit card is considered as bill payment as well. As for transfer, no need more than RM10 to qualify, any amount would do. Did you see the terms somewhere or did someone tell you about that?

QUOTE(newbiz2008 @ Aug 14 2017, 12:49 PM)
From which source you get this info?
Just call OCBC call center, only GIRO to other bank consider as 1 bill payment and the payment to ocbc credit card still consider as bill payment
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QUOTE(twwong @ Aug 17 2017, 07:10 PM)
Hi I just opened my OCBC 360 account 2 days ago, I can see it online now but can only transfer funds in not out, and can't use it to pay bills. How long do I need to wait..? Thanks
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I have experienced this a few times before after opening a new account with OCBC. Dunno why but somehow the account is not linked. Call OCBC call centre to activate / link the account for you. You can start using the account after that.



This post has been edited by Nom-el: Aug 19 2017, 01:07 PM
Nom-el
post Oct 30 2017, 12:05 PM

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Debit card spending is now also eligible for bonus interest for OCBC 360 Account. Refer to the latest T&C from OCBC.

https://www.ocbc.com.my/assets/pdf/Accounts..._ACC360_PIS.pdf

https://www.ocbc.com.my/assets/pdf/Accounts...1115_ACC360.pdf
Nom-el
post Apr 30 2018, 12:36 PM

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QUOTE(kyle_kl @ Apr 30 2018, 09:21 AM)
I am using it and constantly earn 4.1% pa interest on saving.
I would say it is very good if you can meet all requirements for the higher interest.

Normal charges 0.11 and 0.53 for IBG and Instant transfer.
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Currently, OCBC has free IBFT promotion.


QUOTE(Ramjade @ Apr 29 2018, 10:54 PM)
Why should you bother whether it's bank account or something which behaves like a bank account.

Did you read the condition to get 4.1%?
- bank in salary - no problem
- pay bills -  easy just as someone said transfer RM1x3 into another bank accoubt
- spend RM500 using ocbc card -  not worth it as ocbc card is one of the lousiest card = you get practically 0% cash back (if you count 1% Cashback as something doh.gif)
So you are only get getting 2.9% (0.5+1.2+1.2)p.a
For every RM1k I put into ocbc I only will get RM29 after 1 year
What happen if I fulfilled the criteria?
RM1k will give you RM41 a year. For every RM500 spend /month,  you only get RM60/year (RM5x12)
Total  profit after 1 year = RM109

Now compare that with Phillip money market fund + say maybank amex gold
3.5x%p.a + 5% cash back on all transactions on weekends.
For every day RM1k you put into Phillip,  that will give you RM35/year (let's put return at 3.5%). RM500 spend/month with maybank amex on weekends will give you RM300/year (RM25x12)

Total profit after 1 year = RM335.

Doesn't that looks like a better deal to you?

What about liquidity?
With Phillip money market fund,  money is available on same day you uplift (sell) if you use maybank. Not sure the duration for it to enter your bank account (how many hours). So why can't you wait for few hours?
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It matters because there are a few differences between a savings account and money market fund: -
i) There is instant liquidity for savings account while money market fund can only be liquidated on a working day before a specific cut-off time to get the money. Fastest is also a few hours time
ii) The principal is guaranteed in savings account and comes with PIDM protection while this is not true for money market fund
iii) The interest rate is guaranteed for savings account which is not the same for money market fund


Your calculation is correct only if you have RM1k in your account. If you have more, then it might be worth it even if you lose on the cashback for the credit card.

RM100k will give you RM4.1k a year. For every RM500 spend /month, you get RM60/year (RM5x12)
Total profit after 1 year = RM4,160 (GUARANTEED)

Phillip money market fund + maybank amex gold
3.5% p.a + 5% cash back
RM100k will give you RM3.5k/year. RM500 spend/month with maybank amex on weekends will give you RM300/year (RM25x12)

Total profit after 1 year = RM3,800 (NOT GUARANTEED)

This is assuming one has the MBB Amex card and has not reached the cap already. Not everyone is eligible for a credit card and not everyone has an MBB card.

This post has been edited by Nom-el: Apr 30 2018, 12:37 PM
Nom-el
post May 1 2018, 02:51 PM

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QUOTE(Ramjade @ Apr 30 2018, 01:10 PM)
Let's go though your one point at time. biggrin.gif
1) you don't need instant liquidity when credit cards can have credit limit of RM10K.  More than sufficient for any emergency situation. And you have about 20 days to come out with the money.
2) PIDM protection is not relevant. Why? PIDM doesn't have the cash to support payout also if a bank should be declare bankrupt. People here already did a calculation. The money market fund invest in FDs.
3) You don't need a guaranteed rate but a rate which is higher than the guaranteed rate biggrin.gif

One should not hold RM100-200k cash inside the bank. But this part is true. Is only relevant if your amount is big. Can should do a step  ladder FD where the amount is divided equally into several FDs place every few months. Question is how many regular Malaysians got so huge cash sitting in the bank?

That's why I said supplement with other cards. Not every one can own maybank amex? Annual salary only require RM36k which is reachable by many Malaysians.
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1) There are still many places that do not accept credit cards in Malaysia and you cannot choose to only go to those places that do in times of emergency. There are also times when the card machine is not working.

2) Nobody knows for sure how PIDM works in practice as there is no precedent on this. Those calculations are mere speculation on how things are supposed to work. Even if there is not enough to cover all deposit holders, some protection is still better than none at all.

3) Since the rate is not guaranteed, how can you be sure it will always be higher than the guaranteed rate? Simply based on the historical rate alone? Remember, past performance is not an indicator of future performance in any kind of investment.

There are various valid reasons for people to have a large sum of money in their bank accounts whether on a temporary or permanent basis.

Just because someone meets the minimum requirement for applying a credit card does not mean it would be approved. There are many cases reported in this forum alone about people getting rejected despite exceeding the requirements.



QUOTE(Ramjade @ Apr 30 2018, 02:12 PM)
Doesn't matter name is savings account or something else. The goal is best deal for your money with good liquidity.
Never have the mindset that money must only be kept in savings account. Use to have that thinking until someone corrected me. And what that person said is true.
Savings account in one bank vs fund which invest in various  FD in various bank, I think the risk is smaller with money market fund. Is not a normal unit trust which invest in stock. Is a unit trust which invest in FD. doh.gif
Yes that's true. You can withdraw anytime but what is few hours of waiting? You still can get money on the same day except if it's public holiday.

Let's do a proper calculation
With ocbc 360 fulfilled all criteria
Rm30k with 4.1%p.a will give you RM1230/year
CB by spending RM500/month with OCBC card earning 1% CB
RM5x12 = RM60
Total = RM1290

With OCBC 360 not fulfilling the spending part
RM30k with 2.9%p.a = RM890/year
CB by spending RM500/month with amex gold and earning 5% CB
RM25 x12 = RM300
Total = RM1190

With Phillip money market fund at 3.5%p.a
RM30k at 3.5%p.a = RM1050
CB by spending RM500/month with amex gold and earning 5% CB
RM25 x12 = RM300
Total = RM1350
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It matters because they are different things altogether. Just because you can put your money into them for similar purposes, does not mean they are the same. They have different risk and liquidity characteristics. You can put any amount into a savings account but there is a minimum for initial & subsequent amount for money market fund.

You cannot withdraw anytime you like. It can be done during office hours only before cut off time to get the money on the same day. Late 1 minute and the money will only be available on the next working day. If withdrawal is done on a Friday at 11:00 am for e.g., the money will only be available on the next Monday assuming there is no public holiday in between.
Nom-el
post Jul 16 2018, 11:00 AM

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QUOTE(ProxMatoR @ May 18 2018, 02:48 PM)
no, it is bill payment, not jompay nor IBG/IT. there is a list of billers that you can choose of.

is using debit card spending 500 to earn 1.2% has more earning than using your cash back credit card?
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QUOTE(ProxMatoR @ Jul 16 2018, 10:50 AM)
pay bill and IBG is different category. so, nope, its not considered...
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Bill payment, Jompay, IBG & IBFT are all in the same category for OCBC 360 Bill Payment category.


QUOTE(Ryaness @ Jul 16 2018, 04:46 AM)
May I ask if I did 3 ibg to my own bank account in different bank, is it considered fulfil the playbill criteria? And how much is the ibg fee now?
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Yes, definitely. I am not sure if IBG is free or not currently, it is usually RM0.10. IBFT is free though.
Nom-el
post Aug 31 2018, 05:11 PM

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QUOTE(bananaking @ Aug 25 2018, 02:26 PM)
Does the debit card spend count if it is not linked to the 360 account but under another OCBC account? Both also under my name and can see both on my OCBC e-banking portal.

I am an existing OCBC customer with a regular account. Was surprised the OCBC website allow me to open 360 Account under 10 seconds. Immediately activated and can use straight away.

But my debit card is still tied to my earlier account.
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No, the debit card must be linked to the 360 account as a primary account for it to count.
Nom-el
post Sep 16 2018, 06:51 PM

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QUOTE(alexanderclz @ Aug 29 2018, 01:01 PM)
hi there, read through this thread and it was mentioned credit card payment to other banks was not considered as bill payment. it doesn’t mention in the terms and conditions but on the description page it does mention payment to credit card is counted as bill payment. anybody can clarify?

https://www.ocbc.com.my/personal-banking/accounts/360/
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I can confirm credit card payment to other banks is considered as bill payment.
Nom-el
post Oct 12 2018, 12:34 PM

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QUOTE(kart @ Oct 6 2018, 10:20 AM)
Sorry, I was not aware of the actual mechanism of OCBC 360 Account.  sweat.gif Thank you for your clarification.  smile.gif

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.  thumbup.gif

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.
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QUOTE(Ramjade @ Oct 7 2018, 10:01 PM)
Sorry for late reply
1) confirm correct
2) Don't la few seconds,  transfer out the next day la doh.gif
3) just open the account,  then later cancel the card. Should be doable. Tell them I don't need the card.
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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.


QUOTE(Ramjade @ Oct 8 2018, 06:20 AM)
IBFT out to other banks la.
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For OCBC, you cannot perform IBFT without a debit card.


QUOTE(LostAndFound @ Oct 8 2018, 09:44 AM)
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.
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If your intention is just to maximize the interest for OCBC 360, getting a debit card is more cost effective.


QUOTE(LostAndFound @ Oct 12 2018, 10:52 AM)
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%.
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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.
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post Oct 25 2018, 04:33 PM

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QUOTE(Leroi2x @ Oct 23 2018, 08:15 AM)
Hi

Would like to know ,would like to know why you say it's more cost effective about the debit card ,even if i already have their credit card?
I feel troublesome cant use ibft cox no debit card , thinking to get or not now
And how do u make the cost minimal or free ?mind to share?
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Debit card annual fee is RM8 while the SST for credit card is RM25. So, debit card is more cost effective in this sense. However, if you can benefit from the credit card's benefits (rebate, discounts etc.), then it might be better to use the credit card as you can also pay back later (pay back by due date to avoid interest charges etc.).

As for how to make the cost minimal or free, need to find those accounts that allow for topup using credit cards / debit cards and free withdrawal (or with minimal fees). For e.g., e-wallets.
Nom-el
post Oct 27 2018, 02:55 PM

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QUOTE(The Chauvinist @ Oct 27 2018, 09:52 AM)
Can we have a 360 account (conventional) AND 360-i account (Islamic) at the same time, or are we limited to either one only?

If yes, will both be linked to the same online account to be managed through OCBC internet banking?
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Yes, can have 1 of each. Both will be linked to the same online account.
Nom-el
post Oct 29 2018, 04:12 PM

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QUOTE(alexanderclz @ Oct 27 2018, 02:56 PM)
different debit card as well?
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QUOTE(The Chauvinist @ Oct 28 2018, 04:01 PM)
Great. Double the benefits.
I believe should be different credit/debit card for conventional and different debit card for Islamic. OCBC doesn't have credit cards for Islamic.
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One person can only have one debit card with OCBC. So, only one card will be issued but it can be linked with the two accounts. Make sure to set the account as primary account to get the bonus interest on debit card spending. Bonus interest is available for debit card / credit card spending for OCBC 360 Account but for OCBC 360 Account-i only debit card spending is eligible as there is no Islamic credit card offered by OCBC.

So, to get the maximum interest for both accounts, link the debit card to OCBC 360 Account-i as primary and use the credit card spending to qualify for bonus interest for OCBC 360 Account. This is only necessary if the monthly average balance in the account is more than 100k. Otherwise, it would be simpler to just use one account.

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