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> SSPN, Skim Simpanan Pendidikan Nasional

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alesi616
post Jan 10 2019, 05:08 PM

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hi sifu-sifu,

I have an evil idea. Can we do multiple SSPN deposit and withdrawal in a year? Set aside the tax relief purpose, the intention here is to get as many credit card reward points as possible. Anyone tried below:

1. reload 10k into BgiPay card using visa/master credit card, earn 10k credit card points.
2. deposit 10k by swipe BigPay card at PTPTN branch.
3. wait 1 month, then go PTPTN withdraw that 10k.
4. repeat steps 1-3 again to earn another 10k credit card points.

Is that do-able ?
David83
post Jan 10 2019, 06:09 PM

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QUOTE(alesi616 @ Jan 10 2019, 05:08 PM)
hi sifu-sifu,

I have an evil idea. Can we do multiple SSPN deposit and withdrawal in a year? Set aside the tax relief purpose, the intention here is to get as many credit card reward points as possible. Anyone tried below:

1. reload 10k into BgiPay card using visa/master credit card, earn 10k credit card points.
2. deposit 10k by swipe BigPay card at PTPTN branch.
3. wait 1 month, then go PTPTN withdraw that 10k.
4. repeat steps 1-3 again to earn another 10k credit card points.

Is that do-able ?
*
Untuk mendapatkan Mata Ganjaran AirAsia BIG bagi transaksi di PTPTN, pelanggan hendaklah terlebih dahulu mendaftar sebagai ahli AirAsia BIG dan melakukan transaksi yang ditetapkan oleh PTPTN iaitu transaksi simpanan menggunakan kad kredit (untuk SSPN-i Plus), kad debit, atau kad prabayar Mastercard dan Visa dari 10hb Disember 2018 sehingga 10hb Mac 2019 tertakluk kepada 6 juta Mata Ganjaran AirAsia BIG yang diperuntukkan (yang mana terdahulu).

URL: https://www.ptptn.gov.my/images/fail/promos...y_sspn_2018.pdf

Clock is ticking until March 10th, 2019 or 6 mil BIG points exhausted whichever comes first.
alesi616
post Jan 10 2019, 06:31 PM

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QUOTE(David83 @ Jan 10 2019, 06:09 PM)
Untuk mendapatkan Mata Ganjaran AirAsia BIG bagi transaksi di PTPTN, pelanggan hendaklah terlebih dahulu mendaftar sebagai ahli AirAsia BIG dan melakukan transaksi yang ditetapkan oleh PTPTN iaitu transaksi simpanan menggunakan kad kredit (untuk SSPN-i Plus), kad debit, atau kad prabayar Mastercard dan Visa dari 10hb Disember 2018 sehingga 10hb Mac 2019 tertakluk kepada 6 juta Mata Ganjaran AirAsia BIG yang diperuntukkan (yang mana terdahulu).

URL: https://www.ptptn.gov.my/images/fail/promos...y_sspn_2018.pdf

Clock is ticking until March 10th, 2019 or 6 mil BIG points exhausted whichever comes first.
*
what i mean is earning the credit card reward points, not the BIG points. After 10-March, I still can use credit card to reload BigPay card and then pay PTPTN rite? Just that I only earn the credit card reward points, no BIG points thereafter.

Or PTPTN means after 10-march no BigPay card is allowed for paying SSPN ?
David83
post Jan 10 2019, 06:35 PM

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QUOTE(alesi616 @ Jan 10 2019, 06:31 PM)
what i mean is earning the credit card reward points, not the BIG points. After 10-March, I still can use credit card to reload BigPay card and then pay PTPTN rite? Just that I only earn the credit card reward points, no BIG points thereafter.

Or PTPTN means after 10-march no BigPay card is allowed for paying SSPN ?
*
If you're not specifically referring to PTPTN-BigPay campaign, of course it is doable.
You just need to invest time and efforts to do it.

goatbernard
post Jan 11 2019, 09:56 AM

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QUOTE(alesi616 @ Jan 10 2019, 05:08 PM)
hi sifu-sifu,

I have an evil idea. Can we do multiple SSPN deposit and withdrawal in a year? Set aside the tax relief purpose, the intention here is to get as many credit card reward points as possible. Anyone tried below:

1. reload 10k into BgiPay card using visa/master credit card, earn 10k credit card points.
2. deposit 10k by swipe BigPay card at PTPTN branch.
3. wait 1 month, then go PTPTN withdraw that 10k.
4. repeat steps 1-3 again to earn another 10k credit card points.

Is that do-able ?
*
I'm thinking this way too, can save BigPay withraw fee at ATM machine and earn 4% saving from SSPN. If you using SCB CC, then can earn RM85 cashback monthly.
VeeJay
post Jan 11 2019, 10:52 AM

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Sorry to day this, dont understand why we like to abuse a system?! Its there for a purpose...sigh
David83
post Jan 11 2019, 11:04 AM

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QUOTE(VeeJay @ Jan 11 2019, 10:52 AM)
Sorry to day this, dont understand why we like to abuse a system?! Its there for a purpose...sigh
*
Because they want to milk out the banks for tenths of ringgits.
When BigPay app down, complaint till the Heaven because a lot of money stuck in the wallet. Scared to death!

It's a FREE world. Everybody can do whatever they think it's ethical.


This post has been edited by David83: Jan 11 2019, 11:06 AM
lyc1982
post Jan 11 2019, 11:18 AM

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QUOTE(alesi616 @ Jan 10 2019, 05:08 PM)
hi sifu-sifu,

I have an evil idea. Can we do multiple SSPN deposit and withdrawal in a year? Set aside the tax relief purpose, the intention here is to get as many credit card reward points as possible. Anyone tried below:

1. reload 10k into BgiPay card using visa/master credit card, earn 10k credit card points.
2. deposit 10k by swipe BigPay card at PTPTN branch.
3. wait 1 month, then go PTPTN withdraw that 10k.
4. repeat steps 1-3 again to earn another 10k credit card points.

Is that do-able ?
*
technically it's doable
LostAndFound
post Jan 11 2019, 03:50 PM

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People trying to find loopholes until this far? Technically do-able. You're locking your 10k up for a certain period of time though, which is the period of time required to do the whole roundabout.

Ignoring the fact that SSPN may eventually flag your account for suspicious behaviour, if we assume your 10k is locked up for 2 weeks, comparing it to the normal FD interest rate of 3% gives a cost to you of RM12.50 to play this game. Not taking into account the fact you have to go to PTPTN office to initiate withdrawal (costs to that, including time taken).

Your 10k credit card points are normally worth what.... 20 ringgit?
basSist
post Jan 11 2019, 04:41 PM

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QUOTE(LostAndFound @ Jan 11 2019, 03:50 PM)
People trying to find loopholes until this far? Technically do-able. You're locking your 10k up for a certain period of time though, which is the period of time required to do the whole roundabout.

Ignoring the fact that SSPN may eventually flag your account for suspicious behaviour, if we assume your 10k is locked up for 2 weeks, comparing it to the normal FD interest rate of 3% gives a cost to you of RM12.50 to play this game. Not taking into account the fact you have to go to PTPTN office to initiate withdrawal (costs to that, including time taken).

Your 10k credit card points are normally worth what.... 20 ringgit?
*
Felt the same. The time costing unless you got nothing to do and willing to risk account flagged and they blacklisted you and your child name....
alesi616
post Jan 11 2019, 04:46 PM

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hahaha, thanks all sifu sifu for the useful feedback. I had drop this idea since it is too hassle.

Initially I wanted to apply for a new credit card and do this trick because swiping 10k for that new card gives a very good welcome gift (not cheap in value). Then after I found out that I not entitle for this new promo campaign. And points alone (using other credit cards that I have) does not give a good return (as sifu sifu mentioned above).

So, end of story. Just a technically do-able trick but yet to be proven...hehe

This post has been edited by alesi616: Jan 11 2019, 04:47 PM
wos
post Jan 11 2019, 06:07 PM

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I wonder why, I being deposit into SSPN since end of year 2017 and never withdraw. And when I check the SSPN statement, I don't see any interest? just the total amount that I have deposit so far.
MUM
post Jan 11 2019, 06:50 PM

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QUOTE(wos @ Jan 11 2019, 06:07 PM)
I wonder why, I being deposit into SSPN since end of year 2017 and never withdraw. And when I check the SSPN statement, I don't see any interest? just the total amount that I have deposit so far.
*
most probably they have not declare the interest/dividend rate to pay for money held with them in 2018
epie
post Jan 11 2019, 07:16 PM

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QUOTE(alesi616 @ Jan 11 2019, 04:46 PM)
hahaha, thanks all sifu sifu for the useful feedback. I had drop this idea since it is too hassle.

Initially I wanted to apply for a new credit card and do this trick because swiping 10k for that new card gives a very good welcome gift (not cheap in value). Then after I found out that I not entitle for this new promo campaign. And points alone (using other credit cards that I have) does not give a good return (as sifu sifu mentioned above).

So, end of story. Just a technically do-able trick but yet to be proven...hehe
*
U cannot use cc to deposit fund into sspn
talexeh
post Jan 11 2019, 07:24 PM

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QUOTE(epie @ Jan 11 2019, 07:16 PM)
U cannot use cc to deposit fund into sspn
*
CC -> BigPay -> SSPN-i.

You'll need to use BigPay as the middle party.
wym6977
post Jan 13 2019, 10:28 AM

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QUOTE(talexeh @ Jan 11 2019, 07:24 PM)
CC -> BigPay -> SSPN-i.

You'll need to use BigPay as the middle party.
*
Only until 10.Mar.2019...(hopefully they still allow Bigpay after the campaign..)

https://www.ptptn.gov.my/promosi-menu/simpan-terbang-percuma
talexeh
post Jan 13 2019, 12:40 PM

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QUOTE(wym6977 @ Jan 13 2019, 10:28 AM)
Only until 10.Mar.2019...(hopefully they still allow Bigpay after the campaign..)

https://www.ptptn.gov.my/promosi-menu/simpan-terbang-percuma
*
BigPay should be good to go since they identify BigPay as debit card rather than credit or prepaid.
alesi616
post Jan 16 2019, 10:00 AM

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has anyone withdraw the SSPN these few days? Normally how long it takes to process withdrawal?

If I deposit on Dec-18 and make withdrawal on Jan-19, the SSPN 2018 tax relief is counted also rite ?
MUM
post Jan 16 2019, 10:29 AM

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QUOTE(alesi616 @ Jan 16 2019, 10:00 AM)
has anyone withdraw the SSPN these few days? Normally how long it takes to process withdrawal?

If I deposit on Dec-18 and make withdrawal on Jan-19, the SSPN 2018 tax relief is counted also rite ?
*
try read post# 1202 & 1219.....both posts replied by former Rapple
lyc1982
post Jan 16 2019, 10:38 AM

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QUOTE(rapple @ Nov 24 2018, 08:44 AM)
Erm, not something new.

I already did it in:-

Nov/Dec 2015 - Deposit 6k then withdraw in Jan 2016
Nov/Dec 2016 - Deposit 12k then withdraw in Jan 2017
Nov/Dec 2017 - Deposit 18k then withdraw in Feb 2018
*
but would you still get the interest ?

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