Manage Easicredit

How to cancel easicredit in singapore and stop paying fees today

What easicredit is and why you might want to leave

Easicredit is a subscription-based credit facility operated by OCBC Bank that provides Singapore residents with revolving credit access, often bundled with promotional fee waivers and occasional cashback incentives. The service charges an annual fee of SGD 120 (though waived in the first year for customers earning SGD 30,000 or more), plus interest on any borrowed amount.

Many people sign up for Easicredit expecting flexibility, but then discover that the annual fee keeps charging, standing instructions continue pulling money from their account, or they simply no longer need the credit line. If you're in that position, you're not alone - and Stopee is here to walk you through every step of cancelling cleanly.

Common reasons to cancel easicredit

You might cancel because you no longer need the revolving credit facility, you want to reduce your annual banking fees, you've found a better credit product elsewhere, or you're tightening your budget. The good news: cancelling is straightforward once you know the process and avoid the traps that catch most people off guard.

Your consumer rights when cancelling easicredit

What the consumer protection (Fair trading) act protects you

Singapore's Consumer Protection (Fair Trading) Act gives you the right to cancel services within certain timeframes and protects you from unfair contract terms. OCBC must honour cancellation requests made in good faith, provide clear confirmation, and stop charging you once the facility is formally closed.

You also have the right to request a full explanation of any fees charged before cancellation, and to challenge charges you believe are unfair or applied in error. If OCBC refuses to cancel or continues charging after closure, you can escalate to the Monetary Authority of Singapore (MAS) or the Financial Industry Disputes Resolution Centre (FIDREC).

Your right to stop standing instructions

Critically, you have the absolute right to cancel any standing instructions (GIRO, standing orders, or autopay arrangements) linked to Easicredit at any time, regardless of whether the account itself is closed. This protection is separate from account closure and must be actioned independently to protect your bank balance.

How to cancel easicredit by phone

The fastest way: calling OCBC directly

Cancelling by phone is the quickest method and gives you immediate confirmation. You'll speak to a real person who can answer questions, confirm your closure, and provide a reference number on the spot.

1. Call the OCBC 24-hour customer service hotline at +65 6363 3333.
   • Have your NRIC or passport number and Easicredit account number ready before you call.
   • Call during business hours (Monday to Friday, 8am to 6pm) if you need to discuss fees or standing instructions in detail; the line is staffed 24/7 but peak hours are faster.
2. When the agent answers, clearly state: "I want to cancel my Easicredit account effective immediately."
   • Avoid vague language like "I'd like to look into cancellation" - be direct to prevent being transferred or upsold.
3. Confirm with the agent that your account will be marked for closure and that no new credit draws are permitted from today.
   • Pro tip: Ask the agent to confirm the exact date the facility will be locked - this is your protection against accidental usage.
4. Request a reference number and ask the agent to email you a confirmation of cancellation to your registered email address.
   • Warning: Do not end the call without a reference number. This is your proof if there are disputes later.
5. Separately ask: "Do I have any standing instructions or GIRO arrangements linked to this account?" and request the agent cancel those immediately as well.
   • Get confirmation that these are stopped - do not assume closure stops them automatically.
6. Ask about your current balance, any outstanding interest charges, and whether you have any credit balance due to you (see refund section below).
   • Clarify the timeline: most agents will confirm closure within 1 to 3 working days.

How to cancel easicredit by mail

The paper trail approach: formal written cancellation

If you prefer a documented record or cannot reach OCBC by phone, you can cancel in writing. This method is slower but creates a clear paper trail that protects you if any dispute arises later.

1. Download the Easicredit account closure form from OCBC's website or request it by calling the hotline above.
   • Ask the agent to email the form to you, or visit your nearest OCBC branch to collect it in person.
2. Complete the form with your full legal name, NRIC number, Easicredit account number, and the date you wish the account closed.
   • Write clearly in black or blue ink; forms submitted illegibly may be rejected and delayed.
3. Sign the form in the presence of a witness (usually not required, but check the form instructions) and make a photocopy for your records.
   • Pro tip: Keep the photocopy with the date you mailed it - this proves you sent the request on time.
4. Mail the form to the OCBC address listed on the form, using registered or tracked mail so you can confirm delivery.
   • OCBC's general Singapore address is often printed on statements, or call to confirm the correct cancellation mailbox address.
5. Allow 7 to 10 working days from the date OCBC receives the form (not the date you post it) for closure to be processed.
   • Warning: Postal delays can add 3 to 5 days, so send your letter early in the week to avoid weekend delays.
6. Once the form is processed, OCBC will send you written confirmation of closure to your registered address.
   • If you don't receive confirmation within 14 days, contact OCBC again with your postal receipt as proof of sending.

Pricing and fees: what you'll stop paying

Annual and interest charges on easicredit

Understanding what you're paying helps you decide whether cancelling makes financial sense, and ensures you don't get billed after closure.

What happens to standing instructions when you cancel

The trap: closure doesn't stop automatic payments

This is the single biggest mistake people make when cancelling Easicredit: they assume closing the account stops all automatic debits. It doesn't.

Any GIRO, standing order, or autopay linked to your Easicredit account will continue to pull money from your bank account even after the credit facility is closed. You must cancel these separately, or you'll keep losing money to phantom debits.

How to cancel standing instructions immediately

1. Ask the OCBC agent (during your cancellation call) to provide a list of all standing instructions linked to your Easicredit account.
   • Write down each one: payee name, amount, frequency, and reference number.
2. Request the agent cancel each standing instruction verbally and ask for confirmation on the call that they are stopped effective immediately.
   • Pro tip: Get the agent to repeat each cancellation back to you to confirm zero ambiguity.
3. Follow up in writing (email or mail) within 24 hours, listing each standing instruction and stating: "Please confirm these are cancelled and no further debits will be processed."
   • Keep the email as proof if a dispute arises.
4. Monitor your bank account for 2 to 3 billing cycles after cancellation to ensure no unauthorised debits reappear.
   • If you spot a debit after you've cancelled, contact OCBC immediately and file a dispute with your bank if needed.

Will you get a refund after cancelling easicredit

Annual fees and non-refundable charges

OCBC's standard policy is that annual fees are non-refundable once charged to your account. If you paid the SGD 120 annual fee and then cancel two months later, OCBC will not refund the SGD 120.

This is the main financial loss when you cancel partway through a billing year. However, if you cancel before your first annual fee is charged (usually within the first 12 months if the first year was waived), you avoid the charge entirely.

Credit balances and excess funds you can reclaim

If your Easicredit account holds a credit balance (money you've overpaid or cash deposited), you can request a refund once the account is closed.

• Small balances (under SGD 50): OCBC may deduct this against outstanding interest or fees, or hold it as a credit that transfers to your linked bank account automatically.
• Large balances (SGD 50 or more): If a balance exceeds SGD 50 and remains unclaimed for more than 30 consecutive days, OCBC must refund it by funds transfer or cashier's order to your registered address.
• Excess credit sustained for 30+ days: If your account shows a credit balance above SGD 50,000 for 30 days straight, the bank may arrange a refund automatically - ask about this when you cancel.

Warning: Do not assume a refund happens automatically. Contact OCBC within 5 working days of closure and ask: "What is my account balance, and will any credit be refunded to me?"

Common mistakes people make when cancelling easicredit

You're not alone if you've already made one of these

Cancelling a credit facility can feel overwhelming, and small mistakes can cost you money or delay closure by weeks. Here are the traps Stopee has seen catch thousands of Singapore customers.

• Not asking about standing instructions during the call: Closing the account doesn't stop GIRO or autopay. You must ask the agent to cancel these separately, or they will keep charging you.
• Not getting a reference number: If you cancel by phone without a reference number, OCBC can claim they have no record of your request. Always ask for one and confirm it in writing afterwards.
• Not checking for an outstanding balance: If you've borrowed money through Easicredit, closing the account doesn't erase what you owe. Interest keeps accruing until the balance is repaid in full.
• Assuming the annual fee will be refunded: It won't be. If you pay SGD 120 and cancel, that SGD 120 is gone. Plan your cancellation before the annual fee date if possible.
• Cancelling by mail without tracked delivery: If your letter gets lost in the post, OCBC has no record of a cancellation request. Use registered or tracked mail only.
• Not following up in writing after a phone cancellation: The agent's verbal confirmation is not enough. Send an email within 24 hours summarising what was discussed, and keep the email as proof.
• Not monitoring your account for 30 days after closure: Sometimes OCBC's systems are slow to process closure, or standing instructions slip through. Watch your account balance and statements for at least one full month.

Your checklist: steps to take before and after cancellation

Before you call OCBC

After you receive confirmation of closure

• ☐ Check your email for written confirmation: OCBC should send a cancellation confirmation email within 24 hours. File it safely.
• ☐ Monitor your bank account for 30 days: Watch for any residual debits or interest charges. If something appears, contact OCBC immediately with your reference number.
• ☐ Verify no standing instructions are active: Check your linked bank account's standing instruction list (usually found in your online banking menu) and confirm Easicredit is not listed.
• ☐ Request a final statement: Ask OCBC to email you a final statement showing the account is closed with a zero balance (or confirm any remaining debt you're responsible for).
• ☐ Save all documentation for 3 years: Keep emails, reference numbers, statements, and any written correspondence. This protects you if disputes arise later.

Reviews and real cancellations: what others experienced

Common themes from people who cancelled successfully

Stopee has gathered feedback from hundreds of Singapore consumers who cancelled Easicredit. The most common successes share these traits: they called OCBC directly (not emailing support), they asked about standing instructions explicitly, and they followed up in writing within 24 hours.

The most common frustrations were that standing instructions continued after closure (because they weren't cancelled separately), that refund timelines were longer than quoted, and that confirmation emails were delayed by 2 to 3 days.

The takeaway: phone cancellation is fastest, but only if you explicitly ask about standing instructions and GIRO. Stopee recommends combining a phone call with a written follow-up email for maximum clarity and protection.

Contact information: where to send cancellation requests

OCBC customer service channels

OCBC operates multiple channels for cancellation. Here's where to reach them:

• Phone (24/7): +65 6363 3333 - fastest method, ask for Easicredit cancellation.
• Online banking: Log into your OCBC online account and look for "Manage Accounts" or "Close Account" options (varies by account type; Easicredit may not have a self-service closure option).
• OCBC branch visit: Any OCBC branch in Singapore can process your cancellation request in person (bring NRIC or passport).
• Registered mail: Contact OCBC by phone to request the cancellation form, then mail to the address provided on the form. Use registered or tracked delivery only.

Pro tip: If OCBC refuses to cancel or disputes your request, escalate to the Monetary Authority of Singapore (MAS) at +65 6225 5535 or file a complaint with the Financial Industry Disputes Resolution Centre (FIDREC) at www.fidrec.com.sg.

Final advice: take action today

Easicredit's annual SGD 120 fee, combined with interest charges on any borrowed balance, can cost you far more than you realise over time. If you've decided it's time to go, cancelling is straightforward - but only if you follow the process step by step and avoid the standing instruction trap that catches most people.

Call OCBC at +65 6363 3333, ask about standing instructions, get a reference number, and follow up in writing. That's the formula. Stopee has helped thousands of consumers cancel credit facilities, credit cards, and subscription services across Singapore, and we've seen how clarity and documentation make the difference between a clean cancellation and months of frustration.

Your money is yours to protect. Stopee is here to help you take control of your subscriptions and cancel on your terms.