OCBC ending free miles transfers for 90°N and Premier Visa Infinite Cards

One of the best things about OCBC cards is the fee-free conversions offered to OCBC 90°N, OCBC Premier Visa Infinite and OCBC VOYAGE Cardholders. This saves you about S$25 per transfer, allowing cardholders to make no-cost ad-hoc KrisFlyer top-ups.

Unfortunately, OCBC will soon be calling time on this practice. OCBC VOYAGE Cardholders were the first to receive the bad news yesterday, and now OCBC has confirmed that the removal of free miles transfers will also affect the OCBC 90°N Mastercard, OCBC 90°N Visa, and OCBC Premier Visa Infinite. 

This is a real shame, because it looked for a time like OCBC might be leading the market in doing away with these junk fees (and let’s be frank, that’s what they are).

OCBC ends free conversions for all cards

From 1 February 2023, OCBC will be introducing a S$25 nett miles conversion fee for OCBC 90°N and OCBC Premier Visa Infinite Cardholders. This is the same fee that OCBC VOYAGE Cardholders (regardless of card sub-type) can expect to pay. 

Term 3.2 in the OCBC 90°N’s T&Cs, which previously read like so:

3.2 A Cardmember who is enrolled in the KrisFlyer miles redemption programme can effect mile transfers at the conversion rate(s) as listed in the catalogue posted on www.ocbc.com/rewards or such other website as OCBC Bank may deem appropriate (the “Catalogue”), or such other rate(s) as OCBC Bank may specify from time to time.

Has been updated as follows: 

3.2 A Cardmember who is enrolled in the KrisFlyer miles redemption programme can effect mile transfers at the conversion rate(s) of $25 or as listed in the catalogue posted on www.ocbc.com/rewards or such other website as OCBC Bank may deem appropriate (the “Catalogue”), or at such other rate(s) as OCBC Bank may specify from time to time.

A similar change has been made to the OCBC Premier Visa Infinite’s T&Cs.

This fee will apply to Singapore Airlines KrisFlyer transfers, as well as any of the seven new yet-to-be-named airline and hotel transfer partners that come online in February 2023.

Now, in the cold light of day, a S$25 conversion fee is not unreasonable. This is in line with what most of the other banks in Singapore charge; even slightly lower in some cases since the S$25 fee already includes GST.

Issuer	Per Conversion	Annual Option
	S$20	N/A
	S$30	N/A
	S$27	N/A
	$27	S$43.20*
	N/A	S$43.20
	S$27	N/A
	S$25	N/A
	S$27	N/A
	S$25	S$50^
*Automatic conversions in blocks of 500 DBS points (1,000 miles) each quarter. Addition ad-hoc redemptions can be done for free ^Automatic conversions in blocks of UNI$2,500 (5,000 miles) each month for balances above UNI$15,000. Additional ad-hoc redemptions cost S$25

Still, the decision will be disappointing given OCBC’s history of not charging conversion fees to OCBC 90°N and Premier Visa Infinite Cardholders. It was, after all, a big selling point of the 90°N when it first launched, and one of the reasons why you might consider the card even with its S$5 rounding blocks and lack of transfer partners. 

OCBC has indicated to me that the minimum transfer blocks will continue to be the same, i.e.

• 1,000 Travel$ = 1,000 KrisFlyer miles (for OCBC 90°N Cardholders)
• 25,000 OCBC$ = 10,000 KrisFlyer miles (for OCBC Premier Visa Infinite Cardholders)

However, different conversion ratios are likely to apply to the seven additional partners, similar to what we’ve seen with the Standard Chartered cards. 

Conclusion

OCBC cards will be losing one of their key advantages come 1 February 2023, with a S$25 conversion fee now charged to OCBC 90°N Mastercard, OCBC 90°N Visa, and OCBC Premier Visa Infinite Cardholders.

While the fee is in line with the rest of the market, it’s still disappointing to see. There was a time where I was hoping OCBC would lead the way in abolishing conversion charges altogether (they’re unheard of in the USA, for example), but these junk fees seem destined to stay.