Why did I receive a letter notifying me of my inactive account?
You received this letter as you have not been transacting on this account for a certain period of time. To safeguard your interest, it is OCBC’s duty to deactivate financial transactions on that account to mitigate any unauthorised access to your inactive account.
How often will my account be deactivated by the bank?
As part of the bank's practice to safeguard your interest, OCBC will deactivate the account when there is a prolonged conduct of inactivity on that account. As long as financial transactions are not initiated by you within a 12-month duration, the account will be deactivated.
The letter states that I can choose to reactivate the account by visiting any OCBC Bank branch. Tell me more about this option.
You may choose to reactivate the account at any of OCBC Bank branch by:
• Being present at the branch in-person,and
• Bringing your NRIC/Passport/Identity document, proof of residential address, and
• Performing a simple financial transaction over the counter by depositing or withdrawing any amount of money from the inactive account
Our friendly branch staff will be on hand to assist you with this request.
Is there any stipulated timeline or window period for me to reactivate the account upon receiving this letter?
Please note the stipulated deadline to reactivate the account (as indicated in your received letter). However, we do encourage you to keep your account active and you can start by reactivating the inactive account and thereafter, continue to transact the account regularly.
Do I need to do anything else after the account is reactivated?
After your have successfully reactivated the account, you may proceed to transact on that account normally.
What if I continue to leave the account inactive?
Please note the stipulated deadline to reactivate the account (as indicated in your received letter). In the event that your account remains in a zero or negative balance after that time, we will regrettably, proceed to close** the Plus! savings account pursuant to and in accordance with clause 14.4 of the Terms and Conditions Governing Plus! Deposit Accounts (the "Terms and Conditions").
** Please be informed that if you are a Plus! debit cardholder, your debit card will also be terminated. Your Plus! debit card can no longer earn or redeem LinkPoints at all LinkPoints Merchants including NTUC FairPrice.
I have an existing Plus! credit card. What will happen to the credit card if my Plus! savings account is closed?
Please note that you can still continue to use/transact on your Plus! credit card. This exercise will not affect the status of your Plus! credit card. Your LinkPoints membership account will also remain active.
I have an existing Plus! debit card. What will happen to the debit card if my Plus! savings account is closed?
Please be informed that your Plus! debit card will also be closed and access (earn or redeem) to your LinkPoints membership account via your Plus! card will also be deactivated. You would have to use your existing Link cards to access your LinkPoints.