31 Oct is a significant date........I closed my two OCBC accounts. I am making preparation to exit another. It is not without sentimental feeling, having been with this bank since the 80s. But OCBC with all its CSR and corporate branding does not value its customers any more than they value how much the customers can help them fatten their revenue and margin. After all they are in the business of money. If is funny. I clear all my monthly credit cards with GIRO, refusing to let Citibank make a charge on my spending since the beginning. I am with this bank also just as long. The bank keeps pushing me to use ready-credit, and tries all means to make me spend and preferably not to pay so quickly........lol On the other hand, OCBC gives me a clean overdraft which I use occasionally to over stretch for some good bargain in the market. Of course I pay interest on it when I use. However, all my main transactions other than credit card Giros, are through DBS. As a result, there is less traffic through my OCBC account. Last week they told me they wish to withdraw the clean OD. Actually I pay monthly maintenance fees for my accounts, and have been thinking why I am spending unproductive dollars. So, this trigger was great........ It is prudent for me and for the bank in view of the impending risk management needed. Good bye my sailing junk........
Posted on: Sat, 01 Nov 2014 13:20:39 +0000
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