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OCBC Bank / unable to cancel transaction

1 Singapore Review updated:

I made a bill payment thru OCBC Internet Banking yesterday morning. While I was submitting the transaction, I discover my mistake - suppose to key in $54.74, I keyed in as $5, 474.00. I tried to stop the transaction but was informed that application for payment in progress and I am unable to cancel.

Immediately I called OCBC Bank Customer Hotline but was informed that nothing can be done about it!!! and I have to call the "Receiving Party" to refund to me once receive. When I called the "Receiving Party", I was told that they can't do anything as the money will reach them in 2 to 3 days time and they will then have to investigate the excess payment and refund to me once investigation is confirm and all this will take about 3 weeks from the day payment received!.

I receive a email shortly from OCBC Bank that payment will be process in 2 to 3 working days! If it takes 2 to 3 days to process, why can't they just cancel my transaction? Answer from then was NOTHING CAN BE DONE AFTER SUBMISSION WAS DONE!

Can anyone let me know how can I go about with my complain in the BAD Service from the Customer Service as I tried to speak to a higher authority to get help but was block by the Customer Service Officers. I told them that the longer they delay in getting the Manager to process the cancellation, the chances of stopping the transaction is slimmer. But I still have no luck in speaking to a Manager. I called 4 times but nothing can be done.

If cheques can be stopped, T/T can be stopped, why internet banking cannot?? I am now at their mercy of refund my money back and I hope someone let me know if there is anyway I can get help to speed up the refund.


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  • Tt
      21st of Oct, 2011
    0 Votes

    Of course you cannot terminate any request you submitted online. Its the same concept as transfering funds to a 3rd party. Once funds are transferred/payments are made, the $ belongs to the receiving party. The bank itself is only an intermediary for helping you to 'pass $' to them. Please open up your big eyes and see what you are doing. If you need the $ urgently, Call up the receiving co. and ask them to refund you asap. Btw, even the receiving party doesn't trust you, thats why they need 2-3 weeks to investigate. I think Singapore should come up with a channel for companies to complain about customers who make mistakes themselves and make a big hoo ha..

  • Sg
      23rd of Jul, 2012
    0 Votes

    the best thing happened to me is, i paid singtel and starhub bills through interenet banking.
    i registered my account details, for the first fewmonths, it was fine.
    for the past few months, payment not soing though.
    I am paying fine to singtel and starhub snce they didndt receive any payment, though i paid through ocbc...

    I am planning to take this consumer council, if idnt get any proper explanaton from ocbc.

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