$5 charge for cashier's order

I've spoken to OCBC and Daisy about 6 months back regarding this issue and I'm pleased to see some common sense taking place.

When you start charging a fee for a service that is previously free, people will inadvertently complain. 

When you start charging a fee for a service that is previously free, and still free at your competitors, people will complain even more.

Not only does this inconvenience the customer, it affects other banks as well. I recall an encounter when a customer refused to pay the $5 charge, took out his withdrawal in cash, and tried to bank it into another bank just next door. Due to the big amount of money, the receiving bank is also wary of the source of funds is 'unknown' due to Anti Money Laundering (AML) guidelines. Customer who is already unhappy with OCBC trying to charge him, gets more frustrated with receiving bank endless questions, throws a tantrum and demands to see branch manager etc. Ends up problem being resolved when receiving bank manager accompanied customer back to OCBC to verify with the OCBC manager, and customer lodges complaints against both banks. Pity the receiving bank's branch manager, cos suay suay have to write report for doing his job.

From my understanding, the charges has been ongoing for almost a year before they decide to revoke it now, due to complains to the straits times forum. Internal complaints doesn't seem to be taken seriously. So note to all, to get things done, post to your local newspaper forum.

P.S. I hope the Ezlink company will be the next to reverse their GIRO charges

From the ST Forums
$5 charge for cashier's order waived by OCBC
I REFER to Mr Chin Kee Thou's Forum Online letter last Saturday, '$100k withdrawal wasn't customer's fault, why make him pay?'.

We would like to clarify that our branches typically hold cash in different denominations to cater to the varied banking needs of our customers. Depending on the volume of the day's transactions, there could be times when we do not have notes in the denominations a customer asks for.

When it comes to customers making large-sum withdrawals at our bank branches, our key concern is for their safety. Hence, we encourage our customers to consider fund transfer options such as crediting funds to other OCBC current or savings accounts as well as other non-OCBC bank accounts instead of cash withdrawals.

We are pleased to inform readers that with immediate effect, we will waive the $5 processing fee to issue a cashier's order made payable in the account holder's name if the individual is withdrawing funds from his personal accounts.

We would like also to take this opportunity to thank Mr Chin for his feedback.

Daisy Er (Ms)

Head, Customer Assurance

OCBC Bank

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