Users could request a deposit refund anytime via the Ofo app but there was a waiting period of 15 working days for the refund to be received, according to deposit refund instructions. Ofo said in a statement on Monday evening that the people seeking deposit refunds at the company’s headquarters would join the queue of those who had applied online. “Due to Ofo’s large user base, it’s possible that the number of applications for deposit refunds will surge drastically,” the company said in the statement. “My first thought is that now we finally know (roughly) how many monthly active users Ofo has,” said Xue Yu, an analyst at industry research firm IDC, referring to the deposit return figure. Ofo is not the only company facing a steep surge in deposit refund applications.

Source: The Star December 20, 2018 06:33 UTC