OCBC is one of Singapore’s oldest and most trusted banks. It was set up in 1932 with the coming together of three existing Singaporean banks. The bank has all kinds of financial products and services – loans, insurance, credit cards, deposits, investments, private and corporate banking, you name it and the bank has it.
OCBC’s wide varieties of credit cards offer Singaporeans a choice of the best. All the cards come with attractive discounts and offers, cashback, rewards, miles, and exclusive privileges. OCBC credit cards are also worth having because of high credit limits, low foreign exchange fees, annual fee waivers, reasonable interest rates, attractive balance transfer plans, and convenient bill payment options. You can apply for an OCBC credit card through their website or at one of the branches. The card will be approved and sent to you within 48 hours.
OCBC has a great number of credit cards in its kitty. Here are some of the best:
|Card Name||Joining Fee||Annual Fee||Suitable For||Joining Perks|
|OCBC Titanium Rewards Credit Card||NIL (waived)||S$192.60 (waived for the first two years)||Rewards on shopping||NA|
|OCBC 365 Credit Card||NIL (waived)||S$192.60 (waived for the first two years)||Cash rebates on dining, online shopping and grocery purchases||NA|
|OCBC Voyage Card||S$488||S$488||Frequent travellers||15,000 Voyage Miles|
|OCBC Frank Credit Card||NIL (waived)||S$80 (waived for the first two years)||Cash rebates, online shopping and entertainment||S$50 cash rebate and a chance to win ZUJI voucher worth S$600|
|OCBC NTUC PLUS Credit Card||NIL (waived)||NIL (permanently waived)||Discounts on purchases of daily essentials||$10 cash rebate|
|OCBC PLUS Credit Card||NIL (waived)||S$107 (waived for the first year)||Discounts on purchases of daily essentials||$10 cash rebate|
|OCBC Robinsons Group||NIL (waived)||S$192.60 (waived for the first year)||Shopping, and for Robinsons Group membership holders||S$50 worth of Zara voucher|
|OCBC Platinum Credit Card||NIL (waived)||S$160.50 (waived for the first two years)||A family rewards card for daily essentials, dining and entertainment||NA|
OCBC offers various kinds of credit cards. Here’s a list of the cards and their benefits:
When you get a credit card from OCBC, you can also apply for supplementary credit cards for your family members. With a supplementary card, your family can enjoy the same privileges as you do at half the cost, as annual fee for supplementary cards is usually around 50% that of the primary cards. You can apply for 2 to 4 supplementary cards per primary card, depending on which credit card you have. The rewards and rebates earned by supplementary cardholders are credited into the account of the primary cardholder. Credit limit of the primary cardholder is also shared by the supplementary card member. Supplementary cardholders cannot make any changes to their credit limit, rewards or redemptions.
OCBC has a host of wonderful promotions on its credit cards every year. Some of the ongoing offers this year are:
To apply for an OCBC Credit Card, you need to meet certain parameters established by the bank. Given below are some of the common criteria you need to fulfil for various OCBC credit cards:
When you get your new credit card, it will be in a deactivated condition. This is done as a measure to protect your cards from being misappropriated and used without your authorisation. So before your first use, you need to activate the card. In addition, if you are going outside Singapore and need to use your credit card, you need to activate the magnetic stripe, which usually remains deactivated for local transactions as EMV chip technology is in use on the island. To make the magnetic stripe live for overseas purchases, you need to make it live. The options through which you can activate your cards are:
You can cancel your credit card and close the account whenever you want. You need to send a written notice to the bank along with slashed-up cards. Once you cancel a credit card, you need to pay the remaining balance amount immediately. The bank could also cancel your card if you are found to be behaving fraudulently, if your credit score goes down, if you become bankrupt, etc.
For any queries and services related to OCBC credit cards, you can call either 1800 363 3333 or +65 6363 3333i.e OCBC Hotline Numbers.
This card is custom made for NTUC members. Therefore, only active members of the NTUC are eligible to apply for this card.
Premiums for selected insurance plans from Great Eastern Life and Overseas Assurance Corporation paid for using the Great Eastern Cashflo MasterCard can be converted into 12 EMIs. No interest is charged on this transaction.
By spending a minimum of S$200 in a single receipt on bulky items, you can have goods delivered right at your doorstep for free.
If the annual spends exceed S$5,000(of which S$200 must be charged at Robinsons, Marks & Spencer and/or John Little) in the previous year, you get complete waiver on the annual fee.
The fee for supplementary card is S$80.25 a year. No annual fee is billed during the first two years of subscription.
SGD 0.25 is charged for every automatic top up.
You can get cash back of 6 percent on dining when you use your OCBC 365 Credit Card.
Your voyage miles never expire and you can use them whenever you want.
In a recent announcement, OCBC, one of Singapore’s top banks, unveiled its Android-based keyboard, a feature that allows users to make P2P payments with absolute ease.
The keyboard allows users to make P2P payments regardless of what mobile browser or mobile app they use. The feature can be used on popular application platforms including Facebook, Whatsapp and Instagram.
The feature has demonstrated great promise in enabling online and cashless transactions, paving the way for a concrete digital future in the realm of finance and payments.
The feature works seamlessly in collaboration with browsers and other applications, a report in Finextra noted. Also, OCBC became the first Asian bank last year to unveil a feature where voice transactions can be performed on the iOS platform using Apple’s Siri.
25th September 2017
OCBC, one of the leading banking institutions in Singapore, is selling its stake in Hong Kong Life Insurance (HKLI) to First Origin International. OCBC currently owns 33.3% of HKLI.
UOB Kay Hian, a global investment bank, said the sale generated proceeds of around S$426 million. OCBC and its insurance division Great Eastern have said that they intend to consider business proposals received on their stakes in United Engineers and WBL Corporation. OCBC has a 4.1% stake in United Engineers and Great Eastern owns 12.6% of the same company.
OCBC and Great Eastern said they plan to review their strategy in the insurance market in Singapore in particular and Asia in general. The company plans to invest the returns from these sales in the "core wealth management business and high-growth emerging markets such as Indonesia and China", according to UOB Kay Hian.
31st July 2017
To cater to the growing number of online queries, many banks have now turned to chat bots to cater to consumer queries. The chatbots have been introduced by OCBC to replace conventional customer support. OCBC has two chatbots currently in place to cater to two products. The chatbot named Emma caters to home loan queries and the bot named Buddy is an internal bot to answer HR related queries.
While the Emma bot can answer basic queries, when asked with more complex questions, will redirect you to a mortgage specialist. The chat bot works more like an interactive FAQ and gives you the added benefit of saving time by skipping all other questions and going over to your query directly. As simple as it might seem, the process of answering customer queries and saving time for both bankers and readers alike is in its infancy and is only expected to grow within the next couple of years.
DBS has also taken steps towards implementing a chat bot service. However, their efforts are still in the earlier stages and they currently have one chatbot feature implemented through the POSB’s Digital Virtual Assistant which is only operating on its Facebook page.
18th July 2017
OCBC Bank has increased the late payment fees on credit cards to S$100 for all cards. The fees went up from S$80 for all cards except for the NTUC Plus! Credit Card, for which it was S$60. The new fees is applicable since 1 June, 2017.
This raise will make late payment fees uniform across the personal credit cards of OCBC. The last time OCBC raised its fees was in January 2016, when the late payment fee was fixed at S$80 for all cards except the Plus! Visa and NTUC Plus! cards which has a fee of S$60.
According to MoneySmart chief executive Vinod Nair, banks with the most popular credit cards, such as OCBC, DBS and Citibank, also have the highest fees and interest rates. He added that the banks might be trying to discourage customers from becoming more disciplined with their credit. Analyst He Yuxuan of Daiwa SB Investments (Singapore) said the hike could be because the bank wants to boost operating profits as business costs are getting higher.
18th July 2017
Runtime period: This promotion ends on December 30, 2016.
Receive a discount of 30% on your food bill at Alligator Pear, Fairmont Singapore.
Terms & Conditions:
• This is valid if there is a minimum of 2 persons and a maximum of 5 persons.
• This promotion cannot be used on December 25 and 26, 2016.
• You have to make a reservation in advance.
• This offer can be used only on dine-ins.
• This offer does not take prevailing GST or service charge into account.
Runtime period: This discount is valid until December 30, 2016.
Enjoy lunch and dinner buffet at Asian Market Café at Fairmont Singapore with a discount of 30%.
Terms & Conditions:
• This offer is applicable if there are at least 2 persons and not more than 10 persons.
• This offer does not include prevailing GST and service charge.
• You need to make a reservation in advance.
• This is allowed only on dine-ins.
• This offer is not valid on December 24 and 25, 2016.
OCBC customers can now send up to S$1,000 to any bank account in Singapore from their mobile phones. The previous limit was S$100. The transfer can be done through OCBC Pay Anyone mobile payment app. The transfer can be done using the recipient’s mobile number or facebook account or e-mail address. This is the only service in Singapore that doesn’t require the recipient’s bank details to make the transfer. The transfer limit was increased to facilitate wider adoption of this facility.
14th September 2016
Runtime – This is an ongoing promotional offer.
Particulars – When you add your OCBC card to your phone, you can enjoy exclusive offers and deals. This easy way of paying will make your life easier.
• With Apple Pay, you can enjoy a rebate of 5% on what you purchase.
• With Samsung Pay, you can enjoy a rebate of 5% on what you purchase.
• With Android Pay, you can enjoy a rebate of 5% on what you purchase.
Please get in touch with the bank to know more about the terms and conditions of this particular promotional offer.
Runtime – This is an ongoing promotional offer.
Particulars – You can avail rebate of 3% on tickets for concerts, sports events or shows at OCBC Arena, OCBC Aquatic Centre, Singapore Indoor Stadium, National Stadium or Water Sport Centre. You can also avail rebate of 3% on the booking facilities and entrance fee at OCBC Arena, Water Sports Centre or OCBC Aquatic Centre.
Terms and Conditions – There are several terms and conditions of this particular promotional offer. They are as follows:
• If it is not specified, then the rebate of 3% is not applicable on spends at Sports Hub.
• When you buy tickets for different events via SingPost, then you will not be able to avail the rebate.
• All the rebates that areis earned using both supplementary and principal cards gets accumulated on the principal card. You can check it on the bill statement of the next month.
• The cash rebate is calculated up to two decimal places for every transaction.
• In case the supplementary card gets terminated, the principal cardholder will be able to avail the 3% cash rebate scheme on the ticket bookings at Singapore Sports Hub.
Please get in touch with the Oversea- Chinese Banking Corporation to know more about the terms and conditions of this particular promotional offer.
Runtime – This is an ongoing promotional offer. It will continue till August 3, 2016. The travel must be completed by May 19, 2017.
Particulars – This promotional offer is valid on every Wednesday till August 3, 2016. You can avail a discount of 20% on the base fare of the flight tickets of Air Asia when you make the payments for the tickets using your OCBC MasterCard credit cards.
Terms and Conditions – Please get in touch with Oversea Chinese Banking Corporation to know more about the terms and conditions of this particular promotional offer.