Earlier this month, I wrote about Ling, a mother of two, who complained about OCBC's "contradictory action" when it launched its Happy Savings Draw.
The promotion is to encourage fresh cash deposits. For every $5,000 cash deposited, a customer is entitled to an instant sure-win lucky draw. Prizes range from Old Chang Kee curry puffs to $20 Robinson's vouchers. There is also a final draw where depositors stand a chance to win $250,000.
But what caused a bit of puzzlement and unhappiness for Ling was when she discovered that the bank also imposed, for anything above $30,000 in cash deposit, a service fee of $5 for every $10,000.
"So I am puzzled -- for $5,000 you are rewarded but for anything above $30,000 you are penalised," Ling wrote to me.
After I sent her feedback to OCBC, it replied to explain that the "handling fee applies to bulk cash deposits only, as more time and resources are required to sort and count the notes and coins.
"This fee does not apply to non-cash deposits and we do encourage our customers to make deposits for larger amounts in the form of cheques or cashier’s orders."
But it was a big surprise that awaited Ling when she went to the bank to deposit some money today -- she was told by the staff that the service fee has been suspended until August when the "Happy Savings Draw" promotion ends.
When she asked for the reason, a bank officer told her it was the result of "clients' feedback".
A BOUQUET to OCBC for listening to its customers and taking action to put things right.