If my wife and I were to transfer money to each other on a month to month basis, we will get a boost and step-up bonus. Is this an Ocbc 360 account "hack"? - Seedly

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OCBC 360

Asked by Bin Rui

Asked on 04 Jun 2019

If my wife and I were to transfer money to each other on a month to month basis, we will get a boost and step-up bonus. Is this an Ocbc 360 account "hack"?

Assuming my wife & I have $20,000 in each of our OCBC 360 savings account. If she transfers all her $20,000 to me, I would get a Boost Bonus of $16.98 as well as $11.46 for Step-up Bonus (according to the 360 acccount interest calculator). Next month, I'll transfer all my $40,000 to her, she will then earn a Boost Bonus of $33.97 and $11.46 of Step-up Bonus. Can I repeat these steps for the subsequent months to get these bonuses? It's not big amount, but still it is consider a hack?

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Cedric Jamie Soh
Cedric Jamie Soh, Director at Seniorcare.com.sg
Level 4. Prodigy
Answered on 05 Jun 2019

My guess is it will work at the start.

Just read the terms and conditions, it didn't say the money must not be from another OCBC account.

https://www.ocbc.com/assets/pdf/accounts/terms_and_conditions_governing_360_account_with_effect_from_1_nov_2018.pdf?v=6

So technically it will work.

Do leave a minimum amount for any credit card bill, other bonus, etc etc

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