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OCBC Velocity - General

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FREQUENTLY ASKED QUESTIONS

  • How do I apply for OCBC Velocity?

    Complete the form via Apply & Manage OCBC Velocity, download and return it to any OCBC branch nationwide. Alternatively, you can approach your Relationship Manager to apply. We will process your application within 3 to 12 business days after receiving the completed application form.

    Once your application has been processed, you will receive a welcome email containing your log-in credentials separately. Follow the instruction in the email to login to OCBC Velocity.

  • How do I add my new accounts to OCBC Velocity?

    Newly opened accounts are not automatically added to your OCBC Velocity account. If you would like to view and/or manage them online, please complete the form via Apply & Manage OCBC Velocity.

    Please submit the original form, duly signed by the authorised persons, to any OCBC branch. Upon receipt and verification of the form, we will process your request within 12 business days.

  • How do I check on the status of my transactions?

    To check on the status of your transactions:

    1. Login and select "Transactions".
    2. Select "Transaction Status".
    3. Refine the records displayed using the "Search Criteria" fields.

    Alternatively, you can download the respective transaction reports to view the status of your transactions.

  • What do the transaction statuses mean?

    In OCBC Velocity What it means
    General
    Saved The transaction has been created and saved by the maker. It has not been submitted to the verifier or the authoriser yet.
    Pending verification The transaction has been submitted by the maker and is pending verification.
    This status will remain until all verifications are completed.
    Pending authorisation The transaction has been verified and pending authorisation.
    This status will remain until all authorisations are completed.
    Authorised The transaction has been authorised by all Authorisers.
    Submitted to Bank The transaction has been verified and authorised. It will be sent automatically to the Bank for processing after the last authoriser has authorised the transaction.
    Successful The transaction has been accepted and processed by the Bank.
    (Status applicable only to cash products).
    Unsuccessful The transaction is rejected and not processed due to certain errors.
    (Status applicable only to cash products).
    Stopped The transaction has been successfully stopped and will not be processed by the bank.
    (Status applicable only for all cash products).
    Recalled The transaction has been recalled by the maker. (This applies only to transactions that have been sent to the verifier or authoriser, but yet to be verified or authorised). The maker can either edit, delete or resubmit the transaction.
    Returned by Authoriser The transaction has been submitted by the maker but rejected by the verifier or authoriser. Pending the maker's action (to delete or edit), to resubmit the transaction.
    Deleted Either of the following:
    • The maker deleted the transaction under "Saved" status
    • After it was rejected by the Authoriser, it was recalled or returned to the maker for resubmission (see explanation above for 'Returned for Resubmission' status).
    Resubmission Needed The transaction has been submitted by the maker, but the authorisation policy was changed before the transaction was authorised. Pending the maker's action to edit and re-submit the transaction to the correct authoriser based on the revised authorisation policy.
    Status applicable to cash products
    Pending Clearance All transaction items have been pre-processed and accepted.
    Partially Rejected All transaction items have been pre-processed and partially accepted. Some of the items in the batch are invalid. The Bank will continue to process the valid items.
    Rejected All transaction items have been pre-processed and rejected. The transactions will not be processed any further.
    Partially Successful All transaction items have been post-processed and partially accepted. However, during the processing stage, some of the items have become invalid, and thus failed to be processed.
    Status applicable to trade finance products
    Bank Received The transaction has been received by the Bank and will be processed.
    Bank Approved The transaction has been accepted and processed by the Bank.
    Bank Rejected The transaction has been rejected by the Bank.
    Cancelled The transaction has been cancelled and not processed by the Bank.
    Awaiting Authorisation This status only applies for Import Bill under Letter of Credit and Import Documentary Collection. Import documents have been rejected and pending authorisation from seller's bank.

  • Who should I contact if I have any queries, disputes or problem relating to OCBC Velocity?

    If you encounter any problems or have any enquiries relating to the usage of OCBC Velocity – specifically on matters concerning but not confined to payments or any transactions initiated through OCBC Velocity, or suspected fraudulent transactions – please contact us at (603) 8317 5200 from Monday to Friday, 9am to 6pm (excluding public holidays), or send us an email to bbcsc@ocbc.com. We will endeavour to reply to your emails within 24 hours on receipt, with the exception of weekends or public holidays (in which case we will respond to you at the start of the next business day).

  • What is the transfer limit for a Non-Resident account holder?

    With the liberalisation of the Bank Negara Malaysia (BNM) Foreign Exchange Policy, Non-Residents or External Account holders can now perform payment or receipts from or into an External Account for any purpose up to RM10,000 per transaction.

    It is important for all account holders to understand the FE Notices issued by BNM and ensure all activities performed on the accounts comply with the FE Notices at all times. Learn more on FE Notices here.

  • What is the transaction cut-off time via OCBC Velocity?

    Click here to view OCBC Velocity transaction cut-off times.

    Some of the transaction cut-off times has been revised in view of the Covid-19 situation. For details, please refer to the Business Banking Notice Page.

  • How do I choose between the different payment transfer mode?

    Description Payment Transfer to
    An OCBC account Transfer to another OCBC account Select option "Another OCBC Account".
    Transfer to own account Select option "Own Account".
    Another bank locally GIRO payment Local payment in MYR up to a maximum transfer amount of RM1,000,000.
    RENTAS payment

    Local payment in MYR with a minimum transfer amount of RM10,000.

    Select "Same day payment" and "Within the day" processing.
    DuitNow (Instant Transfer) payment

    Local payment in MYR by account number or proxy such as mobile number or business registration number.

    Select "Same day payment" and "Immediate" processing.
    A bank overseas Telegraphic transfer Foreign currency transfer.

  • How do I sign up for OCBC Velocity training?

    Attend our training and be equipped with the basics of using OCBC Velocity for all your cash management and trade financing needs.

    Training sessions are fixed per below (except on Public Holiday)

    1. Payments training: 2.30pm to 4.30pm, every second and fourth Wednesday of the month (the training covers cash management functions such as making payments (GIRO/ Payrolls/ Duitnow/ Bill Payment/ Rentas/ Telegraphic Transfer, etc), making collections, accessing statements and reports, tracking and approving transactions online).
    2. Trade Finance training: 2.30pm to 5.00pm, every first Friday of the month (this training covers trade finance functions, such as applications, accepting or rejecting documents, providing settlement instructions to the bank, customising reports for reconciliation and tracking and approving transactions online).

    Register with us here.

  • What types of transaction notification alerts can I receive?

    You can choose to receive either SMS and/or email notifications for your transactions.

    Notification event What it means
    Workflow Status When a transaction is pending verification or authorisation, or when a transaction is fully authorised for submission to the Bank for processing.
    Cash Transaction
    (Single & Batch)    		 Transaction status post submission to the Bank, such as rejected, successful, or unsuccessful.
    Stop Payment Status Events such as stop payment pending authorisation, returned by authoriser, successful, or unsuccessful.
    Recurring Payment Receive a reminder x days before the next recurring payment date for an earlier recurring payment instruction.
    File Repository When a report generated under "Create Report" is ready for download from the File Repository.
    Trade Advice Availability & Maturity Get notified when a Trade transaction advice is ready for viewing on OCBC Velocity or upcoming maturing transactions due for settlement.

    For the changes to the alert notifications, please send us a letter of instruction signed by the Authorised Person.

  • What is the administrator's role?

    An administrator manages all users. Their role allows them to reset forgotten passwords, create new/additional users, etc. For control reasons, any action initiated by one administrator in OCBC Velocity must be approved by another administrator. Accordingly, at least 2 administrators are required to be appointed.

    Note: The Administrator role is not available for sign-ups for the Basic Plus Service Package.

    Upon login, the administrator will be able to view the "Administration" tab.

    To nominate your own company user as administrators, please complete the form via Apply & Manage OCBC Velocity and return it to any OCBC branch nationwide. To know more of what you can do as an administrator, refer to the user guide here.

  • Enquiries and Complaints

    If you encounter problems or have questions relating to the usage of OCBC Velocity or OCBC Malaysia Business Mobile Banking – specifically on matters concerning but not confined to payments or any transactions initiated through the business internet banking or mobile banking app, or suspected fraudulent transactions – please contact us at (603) 8317 5200 Monday to Friday, 9am to 6pm (excluding public holidays), or email us at bbcsc@ocbc.com. We will endeavour to reply to your email within 24 hours upon receipt, with the exception of weekends or public holidays (in which case we will respond to you at the start of the next business day).

  • Dispute Resolution

    We will promptly attend to any claim or dispute you have in respect of or arising out of OCBC Velocity and/or OCBC Business Mobile Banking Services.

    Contact us via our official channels by:

    1. Visiting us at any OCBC branch nationwide.
    2. Calling the Bank's Customer Service Hotline at (603) 8317 5200 from Monday to Friday, 9am to 6pm (excluding public holidays).
    3. Getting in touch with us via email at bbcsc@ocbc.com.
    4. Writing a formal letter to the Bank.

    Please provide the Bank with details of your specific complaint/dispute and supporting documents to help expedite the investigation. The minimum information shall include the following, or you can also fill up the form here.

    - Company Name
    - Business registration number, NRIC or passport number, whichever applicable
    - Affected account number
    - Date of the disputed transaction
    - Amount of the disputed transaction
    - Reason why you believe that it is a disputed transaction

    We will immediately investigate any claim/dispute brought to our attention and attempt to respond to you within fourteen (14) working days from the date we receive your notification, or inform you of any further action you can take (which may involve a third party). Please note that complaints requiring investigations conducted by a third party may take more than 14 working days. Soon thereafter, we will consult you in good faith with a view to reaching a quick and amicable resolution of the matter, satisfactory to both parties.

    If you wish to seek the views of the authorities on our handling of a complaint, you can approach the Ombudsman for Financial Services at the following address:

    Ombudsman for Financial Services
    Level 14, Main Block
    Menara Takaful Malaysia
    No. 4, Jalan Sultan Sulaiman
    50000 Kuala Lumpur

  • Where can I view the Terms and Conditions for Trade Applications made on OCBC Velocity?

    You can view the Terms and Conditions for Trade Applications made on OCBC Velocity here.

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