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I hereby notify you of my decision to terminate the contract relating to the Easicredit service.
This notification constitutes a firm, clear and unequivocal intention to cancel the contract, effective at the earliest possible date or in accordance with the applicable contractual period.
Please take all necessary measures to:
– cease all billing from the effective date of cancellation;
– confirm in writing the proper processing of this request;
– and, if applicable, send me the final statement or balance confirmation.
This cancellation is addressed to you by certified e-mail. The sending, timestamping and content integrity are established, making it a probative document meeting electronic proof requirements. You therefore have all the necessary elements to proceed with regular processing of this cancellation, in accordance with applicable principles regarding written notification and contractual freedom.
In accordance with personal data protection rules, I also request:
– deletion of all my data not necessary for your legal or accounting obligations;
– closure of any associated personal account;
– and confirmation of actual data deletion according to applicable privacy rights.
I retain a complete copy of this notification as well as proof of sending.
Important warning regarding service limitations
In the interest of transparency and prevention, it is essential to recall the inherent limitations of any dematerialized sending service, even when timestamped, tracked and certified. Guarantees relate to sending and technical proof, but never to the recipient's behavior, diligence or decisions.
Please note, Postclic cannot:
- guarantee that the recipient receives, opens or becomes aware of your e-mail.
- guarantee that the recipient processes, accepts or executes your request.
- guarantee the accuracy or completeness of content written by the user.
- guarantee the validity of an incorrect or outdated address.
- prevent the recipient from contesting the legal scope of the mail.
Cancellation Easicredit: Easy Method
What is Easicredit
Overview
Easicredit is a subscription-based credit service available in Singapore that offers personalised credit solutions and related financial products to help manage cashflow and credit needs.
Main features
Features commonly include a revolving credit facility, promotional fee waivers and occasional cashback or offers subject to eligibility.
Services may be integrated with other banking products and involve routine fees and interest when used.
How to cancel Easicredit
By phone
- Call the OCBC 24-hour hotline at +65 6363 3333 and request cancellation of your EasiCredit account.
- Confirm the agent will process the closure and ask for a reference number or confirmation email for your records.
- For more details about phone cancellation options see this guide.
By mail
- Download and complete the EasiCredit account closure form, sign it and mail it to OCBC as instructed on the form.
- Processing typically takes about 7 working days after the bank receives the form (mailing time not included).
- Refer to the closure procedure at this source for the form and mailing guidance.
Cancelling standing instructions
- Closing the EasiCredit account does not automatically cancel standing instructions such as GIRO; cancel these separately to avoid unexpected deductions.
- See guidance on stopping standing instructions and payments at this guide.
What happens when you cancel
Access and services
When you cancel, access to the Easicredit facility is closed and you can no longer draw on the credit line once closure is processed.
Any outstanding balance remains payable under the original terms until fully settled.
Standing instructions and linked services
Account closure does not automatically stop linked standing instructions, autopay or GIRO arrangements; you must cancel those separately.
If you have recurring debits set up, verify and cancel them to prevent continued deductions after closure.
Will I get a refund?
Standard refund policy
OCBC generally does not refund annual or other fees once charged; annual fees are non-refundable after they appear on your account.
This means once a fee or facility has been activated and charged, a refund is not automatically available.
Exceptions and special cases
- Bank discretion: In limited cases the bank may refund certain amounts, but refunds are not guaranteed.
- Excess credit balance: If your account shows an excess credit balance above S$50,000 for more than 30 consecutive days, the bank may arrange a refund by funds transfer or cashier’s order.
- For details on the fee rules and waivers refer to coverage of annual-fee policies at this article.
Easicredit plans and pricing
Summary
The table below lists common fees, charges and interest items reported for Easicredit. Use it to identify charges you may be liable for when cancelling or using the facility.
Notes
Annual fee: S$120 with the first year often waived for customers with annual income ≥ S$30,000 according to published pricing notes.
Interest and fees are charged according to the bank’s pricing guide and may accrue daily where applicable.
| Plan | Price | Period | Features |
|---|---|---|---|
| Annual Fee (SGD 30k+ income) | S$120 (first year waived if income ≥ S$30,000) | Annual | Annual maintenance fee; waived first year for income ≥ S$30k |
| Annual Fee (SGD 20k - 29,999 income) | S$120 | Annual | Annual maintenance fee |
| Monthly Service Fee | S$0 | Monthly | No monthly service charge |
| Minimum Overdraft Interest | S$5 | Per month | Base overdraft interest if used |
| Late Fee | S$120 | Per occurrence | Charged if minimum repayment not met on time |
| Excess Fee | S$50 | Per occurrence | Charged when usage exceeds credit limit |
| Over-the-Counter Payment/Deposit | S$25 | Per transaction | Fee for payments or deposits made over the counter |
| Returned Cheque | S$40 | Per cheque | Charged for each returned cheque |
| Stop Cheque (Branch/Call Centre) | S$30 | Per cheque | Fee for stoppage request via branch or call centre |
| Stop Cheque (Digital/E-Banking) | S$10 | Per cheque | Fee for stoppage request via app/internet banking |
| Loss of Cheque Book (Branch/Call Centre) | S$50 | Per book | Charge for replacing lost chequebook via branch/call |
| Loss of Cheque Book (Digital/E-Banking) | S$30 | Per book | Charge for replacing lost chequebook via digital channels |
| ATM Card Replacement - Lost/Stolen | S$5 | Per card | Replacement fee for lost/stolen ATM card |
| ATM Card Replacement - Forgotten PIN | S$5 | Per card | Fee for replacing or resetting forgotten PIN |
| ATM Card Replacement - Damaged card | S$0 | Per card | No charge for damaged card replacement |
| Statement Retrieval - Current/Previous month | Free | Per copy | No charge for retrieving current or previous month statement |
| Statement Retrieval - Within 1 year | S$20 | Per copy | Charge for statement copies within past year |
| Statement Retrieval - 1 to 3 years | S$30 | Per copy | Charge for statement copies between 1 - 3 years old |
| Statement Retrieval - More than 3 years | S$50 | Per copy | Charge for statement copies older than 3 years |
| Prevailing Interest Rate (various income bands) | 22.90% p.a. | Annual interest | Prevailing interest when using overdraft or Cash-on-Instalments |
Your consumer rights in Singapore
Cooling-off and statutory rights
There is no statutory 14-day 'free-look' or unconditional refund period for Easicredit in Singapore.
Once fees are charged or facilities activated, refunds are generally not available under standard consumer protection rules.
Practical rights and actions
- You can request refunds for exceptional balances (for example, sustained excess credit balances) and the bank may consider these on request.
- Always cancel standing instructions such as GIRO separately to prevent future debits after account closure.
- Keep written confirmation of cancellation and any refund correspondence for dispute resolution.
Customer experiences
Positive feedback
Some customers report promotional benefits such as fee waivers (for example, first-year annual-fee waivers) or cashback when they meet qualifying criteria.
Promotions and waivers are typically conditional on income or spending thresholds; see published articles for examples.
Negative feedback
Other users report experiences of confusing product bundling, feeling nudged toward Easicredit when applying for other products, and difficulty cancelling services.
Complaints also include occasional poor customer-service interactions or problems with app access and support responsiveness.
Documentation checklist
Documents to prepare
- Completed EasiCredit account closure form (signed).
- Account details: EasiCredit account number and linked account information.
- Proof of identity (NRIC/FIN or passport) as required by the bank.
Where to send
- Mail the completed form to the OCBC address provided on the closure form; allow time for postal delivery.
- If cancelling by phone, keep the agent reference number or written confirmation sent by the bank.
Common mistakes
Failing to cancel standing instructions
Many customers assume account closure cancels GIRO or recurring payments; this is incorrect and can lead to unexpected deductions.
Always cancel GIRO and standing instructions separately and verify with the payee and your bank.
Assuming fees are refundable
Assuming an annual or setup fee will be refunded upon cancellation is a common error; most fees are non-refundable once charged.
Confirm fee refund policies before signing up if refundability is important to you.
Comparative recap
Quick comparison
The table below highlights key charges to watch for when evaluating or cancelling Easicredit.
How to decide
Compare expected usage, possible waivers and the likelihood of incurring late or excess fees to decide whether to keep or cancel the facility.
| Item | Charge | When charged |
|---|---|---|
| Annual Fee | S$120 | Charged annually (first year may be waived for income ≥ S$30,000) |
| Monthly Service Fee | S$0 | Monthly (no charge) |
| Late Fee | S$120 | Per occurrence when minimum repayment missed |
| Excess Fee | S$50 | Per occurrence when credit limit exceeded |
| Prevailing Interest Rate | 22.90% p.a. | Applied annually (accrued daily when facility used) |
After cancelling
What to monitor
Keep an eye on bank statements for 1 - 2 months after cancellation to ensure no unexpected charges or standing debits occur.
Retain the closure confirmation and any correspondence in case you need to escalate a dispute.
Helpful links
- How to cancel by phone or mail: OCBC cancel EasiCredit guide.
- Reminder to cancel standing instructions and GIRO: GIRO and payment guide.
Address
Registered address
31 Bangkit Road Aspen Tower #05-01 Singapore 679973
Notes
Use the address for postal submissions if the closure form instructs you to mail documents; confirm the correct mailing address on the form before sending.