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

Currently, you have only an ATM card for your OCBC Savings account, right?

If I remember correctly, OCBC ATM cards can no longer be used for ATM withdrawal.

Anyway, without a OCBC debit card, can you still perform instant fund transfer from your OCBC 360 Savings Account?

Thank you for your information.

This post has been edited by kart: Jun 27 2019, 10:30 PM

I am a existing OCBC customers, with a Easisave savings account and access to OCBC online banking website.


Has anyone here managed to open a OCBC 360 savings account, without getting a OCBC debit card?


Hopefully, without a OCBC debit card, I can still able to perform interbank fund transfer (IBFT), from OCBC 360 savings account, to savings account in other banks in Malaysia.


If I am not mistaken, out of 4.1% interest, 1.3% is gained via RM 500 monthly spend on either OCBC debit card or OCBC credit card. I am not interested in getting this 1.3% interest, and I am happy with just 2.8% gained for my fund in OCBC 360 savings account.


I know that many people here tend to use either OCBC debit card or OCBC credit card, to reload RM 500 to either BigPay Prepaid Card or any other eWallet, just to fulfil the RM 500 monthly spend. I think that OCBC grants very negligible cashback for such online transaction via OCBC debit card or OCBC credit card.


In my personal opinion, I must get at least 5% online cashback, for any online transaction with credit card. Otherwise, I will not bother to perform any online transaction with credit card. As such, PBB VS and PBB QM suit my purpose, instead of any other payment cards such as OCBC debit card or OCBC credit card.


Thank you very much for your advice.

This post has been edited by kart: Jan 14 2020, 05:29 AM

The rules of credit card payment due date, by Bank Negara (in the form of a PDF):



This post has been edited by kart: Feb 5 2020, 07:36 AM

MGM

Normally, the rules by Bank Negara Malaysia shall precede over the rules by any banks in Malaysia.


In layman terms, if Bank Negara says ok to give a grace period of at least 4 calendar days after the payment due date, all banks in Malaysia have to follow the rules set by Bank Negara, and give a grace period of at least 4 calendar days after the payment due date.


Then again, the banks in Malaysia take advantage of the fact that Malaysians credit card holders are not aware of the rules set by Bank Negara Malaysia, and sets certain rules that violates the rules set by Bank Negara Malaysia. This is to maximise the profit gained by the banks in Malaysia.


We need to be more aware of the ultimate rules which is set by Bank Negara Malaysia, and understand our own consumer rights. Otherwise, the banks will always put us customers in disadvantageous position.

This post has been edited by kart: Feb 5 2020, 07:50 AM

I have not seen anyone who managed to reverse the late payment charge, with such PDF documentation issued by Bank Negara.

I started to be aware of this 4-day grace period, due to the posting by car_computer, in 'Credit Card v20, Post/Ask general questions here' thread.


Usually, any bank in Malaysia cannot override the rules set by Bank Negara Malaysia. So, we credit card holders have the right to use Bank Negara documentation, in our argument with the banks. Send an e-mail to the bank, cc the e-mail to Bank Negara Malaysia, and also attach the Bank Negara documentation in the same e-mail.

This post has been edited by kart: Feb 5 2020, 09:46 AM

TongCN

Just try your luck, to request for the reversal of the late payment changes.

Send an e-mail to the bank, cc the e-mail to Bank Negara Malaysia, and also attach the Bank Negara documentation in the same e-mail.

However, next time, try to pay your statement balance, on the payment due date or earlier.

We may not be lucky all the time.

This post has been edited by kart: Feb 5 2020, 10:20 AM