On 10 November 2017, NAB’s Private Wealth business (NPW) was transferred to Oversea-Chinese Banking Corporation (OCBC). Any financial product(s), account(s) and customer information held by NPW have been transferred to OCBC. This means you are now a customer of OCBC and NAB will no longer be able to provide any information related to your account(s) previously held with NAB.
If you were a NPW customer in Singapore and would like more information on the transfer of your products and services to OCBC, please visit www.ocbc.com/hellonab
1. Please note that all payments (Direct Debit, GIRO’s and/or Standing Instructions) from your NAB account(s) have ceased from 10 November 2017. To minimise disruptions to your banking services after the transfer, we encourage you to re-arrange any direct debit instructions, future remittances and payments directly with OCBC once you receive your new account information.
2. If you hold a NAB savings/call account, you would have received a pre-welcome letter from OCBC in October 2017. This letter contains details on your new banking relationship with OCBC for you to set up any payments (Direct Debit, Giro's and/or Standing Instructions). If you have not received this letter, please contact OCBC.
3. OCBC will send out formal welcome letters with account details and balances from the week starting Monday, 13 November 2017. All enquiries regarding your transferred account should be directed to OCBC via the OCBC microsite with effect from Monday, 13 November 2017.
4. If your account(s) is not being transferred to OCBC and there are no changes to your banking service at this time. You may continue to liaise with NAB via our office in Singapore.
1. What has been transferred to OCBC?
Your entire banking relationship, including all loan and deposit accounts, agreements, mortgages, guarantees and security arrangements has been transferred to OCBC. In addition, all information relating to your banking relationship with NAB, including customer information, personal data related to you and/or any other relevant persons such as your beneficial owners or authorised signatories, has also been transferred to OCBC.
2. When will my OCBC Account be set up?
OCBC will set up your new account(s) by end of October and these will only be activated from 13 November 2017 or such other date as OCBC may subsequently update. OCBC will send you a letter detailing your account number and account balances when your accounts are activated. For the most accurate information please visit the OCBC Microsite
3. Will my account number change?
Yes, you will be given a new account number and OCBC will advise you of your new account details in their welcome letter. Please note that your NAB bank account has been closed upon completion of the transfer.
4. Will my loans and outstanding balances with NAB transferred to OCBC?
Yes. Any outstanding balances on your existing loans with NAB have been transferred to OCBC.
5. Will my NAB relationship manager continue to manage my banking relationship? If not, who will manage my accounts with OCBC?
OCBC will notify you of the new OCBC Relationship Manager assigned to support you.
6. Were my existing GIRO Standing Instructions (SI) transferred over to my new account in OCBC?
On 10 November 2017, your existing GIRO and standing instructions linked to your NAB deposit account have been discontinued. You will need to update your payment instructions with your new OCBC account number or make alternative arrangements.
7. I closed my savings account(s) during the month of November. Will I still be charged my account maintenance fee?
If you have closed your saving account(s) in the month of November, we will waive the maintenance fee for the said month.
8. How do I get in touch with NAB, if I have queries regarding my banking relationship after the transfer is completed?
If you have any queries regarding your transferred account, please contact OCBC via the OCBC microsite.
9. When will I receive my NAB statement?
A final advice will be sent to transfer customers with CASA, Term Deposit and Loan account(s) a few days after the transfer to confirm the transferred amounts and balances to OCBC. Following this, all CASA account customers will receive the standard closing statement (final statement) by end of November.
We encourage you to keep your final statement for future reference. Should you have and questions or in the event of a discrepancy, error or exception, please notify us in writing within 90 days of receiving the advice.
10. Who do I contact for a copy of a historical statement?
As your account(s) have been transferred to OCBC on Friday, 10 November 2017, you will need to contact OCBC for any historical statements via the OCBC microsite or your assigned OCBC relationship manager.
11. Who has my title? How do I request it?
All information related to your account(s) with NAB has been transferred to OCBC. If you need further information regarding your transferred account(s), you may contact OCBC via the OCBC microsite, OCBC hotline at (+65) 6586 5176 or your assigned OCBC relationship manager.
12. How best do I contact OCBC?
You can contact OCBC via the OCBC microsite, OCBC hotline at (+65) 6586 5176 or your assigned OCBC relationship manager (if any).
13. I am a Private Wealth customer in Hong Kong and/or Japan, what will happen to my account?
On 11 May 2017, we announced the sale of the NAB Private Wealth business in Hong Kong and Singapore and the decision to undertake an orderly wind down of our NAB Private Wealth business in Japan.
If you are an existing NPW Hong Kong and or Japan customer, please refer to the NAB Hong Kong website for regular updates leading up to the transfer and NAB Japan website for details on the wind down of the business.
14. I am a Private Wealth customer in Australia; can NAB Singapore help me with any services?
If you are a customer of NAB Australia, we are unable to access information regarding your Australia accounts due to regulatory guidelines. However, we are happy to help if you need assistance with contacting NAB Australia.
In certain circumstances some of the NAB Asia branches can also undertake NAB document witnessing and verification of Know Your Customer documentation on behalf of other Group entities. However, this would need to be checked with each branch to confirm before offering the service to any customer as local regulations differ between countries.
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