I tried reading it but I am very good in Japanese so, I have few doubts and things I don’t even understand about the SMBC olive account thing.
If I create one, will it be a entirely new bank account or just like a add on to my account or changing my account type entirely??
What are all the benefits?
If i register for it, do I have to change my bank details everywhere I registered it with, like for auto payments, salary etc..??
3 comments
It’s a totally different account. If you have an existing account, it will be rolled over into an olive account (and you won’t be able to use your existing card until you get the new one).
You’d get a new card number, so you’d need to change over auto payments that use card, but account number will not change.
edit: Benefits are sort of vague. Your debit, cash, credit, and point cards are combined into one that you change the “mode” of in the app. You can pay with points using the card. You can also choose your own monthly “reward”— 2 free non-smbc ATM pulls, or faster point accumulation, etc.
I’ve been using Olive since it went live and honestly, I haven’t seen any real benefit to it over the usual account. Card looks nice though.
Same, haven’t really understood the benefit. They’ve been a bit forceful on PR to get people to convert to it. At first I thought it was just for the benefit of using a MoneyForward like enhanced app, it is quite annoying to use 3 different apps for smbc account, smbc card, and smbc vpoints. But indeed it requires reapplying to a credit card. I already have an smbc card, and don’t really feel a reason to go through that process, MoneyForward already works quite well for me.
Did the calculations, and you can get like 10% points back relatively easy (out of “””up to””” 15%) compared to what I get with epos (maybe 2-3%?)
But that’s if you live and breath olive