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You Gotta Love OCBC

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Strong Eagle
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You Gotta Love OCBC

Postby Strong Eagle » Fri, 10 Jan 2014 9:39 am

Got a snail mail letter from OCBC (I am now in the USA) that stated I owed them $1,811 and that I was delinquent.

Given that I have charged zero to my OCBC card in a year, I figured fraud. So, I log into OCBC account only to find that in October they have added a SGD 1,605 annual fee to my card (the "World" card), without bothering to tell me, then have added interest and late charges ever since then.

I now have allegedly had all charges removed and the card cancelled... we shall see in the next 48 hours or so.

$1,605 annual fee? All I can say is, "You've got to be sh*tting me!!!".

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ecureilx
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Re: You Gotta Love OCBC

Postby ecureilx » Fri, 10 Jan 2014 9:57 am

Strong Eagle wrote:Got a snail mail letter from OCBC (I am now in the USA) that stated I owed them $1,811 and that I was delinquent.

Given that I have charged zero to my OCBC card in a year, I figured fraud. So, I log into OCBC account only to find that in October they have added a SGD 1,605 annual fee to my card (the "World" card), without bothering to tell me, then have added interest and late charges ever since then.

I now have allegedly had all charges removed and the card cancelled... we shall see in the next 48 hours or so.

$1,605 annual fee? All I can say is, "You've got to be sh*tting me!!!".


mmmm .. your account manager will be wondering why an expat like you is being cheapskate :D :D or suggest you charge to your 'company account' ..

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Postby Sergei82 » Fri, 10 Jan 2014 10:17 am

Why you didn't close your OCBC account when you moved out of Singapore in the first place? I closed my DBS account and cancelled all cards exactly to avoid similar accidents once I got my Standard Chartered account (mandatory since I'm working in that bank).

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x9200
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Postby x9200 » Fri, 10 Jan 2014 10:19 am

That's heavy. I considered so far OCBC to be the most realiable and customer friendly bank in Singapore.

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Postby Wd40 » Fri, 10 Jan 2014 11:10 am

So, what was the annual fee the previous year? What surprised you? The amount of the annual fee or the fact that they charged you an annual fee? If its the latter, its nothing to do with OCBC in particular. All banks do the same. They charge you the annual fee in advance for the next year. You need to call them and get it waived off or cancel the card.

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Postby nakatago » Fri, 10 Jan 2014 11:16 am

Sergei82 wrote:Why you didn't close your OCBC account when you moved out of Singapore in the first place? I closed my DBS account and cancelled all cards exactly to avoid similar accidents once I got my Standard Chartered account (mandatory since I'm working in that bank).


Requesting to close an account/cancel a card doesn't stop them charging annual fees.

I cancelled my Citibank credit card and they still charged me an annual fee when the statement came. A quick message sorted that out, though but the right hand doesn't know what the left is doing...and happens in more than one country too. I've had friends from back home who had similar stories.

EDIT: Like what Wd40 said.

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ecureilx
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Postby ecureilx » Fri, 10 Jan 2014 11:24 am

nakatago wrote:
I cancelled my Citibank credit card and they still charged me an annual fee when the statement came. A quick message sorted that out, though but the right hand doesn't know what the left is doing...and happens in more than one country too. I've had friends from back home who had similar stories.


or maybe a-la Sub Prime, some brilliant banker would have done a calculation and decided if 10% of the people don't look at the statement and pay up .. well, that can add to some of his bonus ..

just like the smarties in DBS who have popped a seperate bank account for Pass holders = with 2 $ here, a 2 $ there ..

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Postby sundaymorningstaple » Fri, 10 Jan 2014 12:56 pm

I have the same go-round every year with DBS, StanChart and Citibank cards and OD facilities. They insist on adding it and not sending email notifications so invariability, as I rarely use most of the stuff, I end up with annual charges and penalties & interest on them by the time I check. Every year I call them up and most now have a "press 3 (or some other number) for credit card or overdraft fee waiver" Stupid. I guess they figure there are some out there who just can't be bothered and just pay it. Idjits. My corporate card just had it last month. So, I've got to log in to check my balances monthly even if I don't charge anything.

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x9200
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Postby x9200 » Fri, 10 Jan 2014 2:04 pm

Uh-ha-ha, you did not read T&C, uh-ha-ha, and you left us, uh-ha-ha, and now your fee waver for your past 8 years is gone, uh-ha-ha.(all with the voice of that fat computer guy from Jurassic Park)

Image

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Max Headroom
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Postby Max Headroom » Fri, 10 Jan 2014 2:59 pm

Hello Newman.

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nakatago
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Postby nakatago » Fri, 10 Jan 2014 3:33 pm

Max Headroom wrote:Hello Newman.


He deserved to be eaten by that Dilophosaurus...along with some credit card people. We should all sic theropods on a certain class of annoying people.

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Postby bro75 » Fri, 10 Jan 2014 3:37 pm

These fees are irritating but most banks will waive it. Worst experience for me was waiving the Stanchart personal credit account annual fees. The first call I made to waive it, I thought it was done but the next month another billing came with additional late charges. Subsequent calls and a visit to a branch fixed it.

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Postby sundaymorningstaple » Fri, 10 Jan 2014 3:59 pm

Yep. Same thing. Two years in a row. Hard to find good help now days, what with the FT being sent home...... :-|

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Postby Primrose Hill » Fri, 10 Jan 2014 6:59 pm

$1600 for annual fee?????? :shock:

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Postby Beeroclock » Fri, 10 Jan 2014 8:34 pm

Primrose Hill wrote:$1600 for annual fee?????? :shock:
mindboggling, if you can afford an annual fee that big you probably don't need a credit card!


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