The transaction mentioned by Mr Heng refers to a crediting process that OCBC Bank initiates during an early termination of a structured deposit, which is permitted under the terms of such products.

As part of our communication process, we dispatched a notification letter to all our customers prior to the termination of the deposit followed by an early termination advice and a credit note after the termination had been effected . Funds from the structured deposit are then credited to each customer's designated account . However, we do acknowledge that the content of our credit note could be better structured to give greater clarity to customers.

We are sorry about the unpleasant experience Mr Heng encountered at our branch but would like to thank him for his feedback, which we will take into consideration as we look to improve and provide clarity for all our customers during our correspondence with them.

Ng Kwok Leong

Head

Planning and Customer Assurance

OCBC Bank