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 Maybank m2u savers 2.1% pa, 2 gud 2 b true 4 savings acc?

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cybpsych
post Nov 24 2015, 07:05 AM

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QUOTE(lace @ Nov 23 2015, 06:11 PM)
if i close account will i get back the 250?
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A service charge of RM20.00 (RM21.20 with GST) will be imposed if the Maybank2u Savers account is closed within three (3) months from the account activation date.

If account >3 months, FOC for account closure.


You can submit a request to close your account via Maybank2u.com. There are three (3) balance transfer methods for Account Closure:

Own Account Transfer
Third Party Transfer
Interbank GIRO (IBG)

If you select Own Account Transfer to transfer your balance, then the interest earned to date as well as the service charge (if any) will be calculated and closed online. If you select Third Party Transfer or IBG as the Closure balance transfer method, the closure will be handled by our Maybank Group Contact Center (MGCC) within 3 working days and you will be notified on the closure status via SMS.


If you're still interested, create a new Savers account again lor, or call CS to fix the current issue whereby you can't deposit into it.
lace
post Nov 26 2015, 08:37 PM

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i close it ady lz to manage it thanx for the help n info guys ..
dannykhoo17
post Nov 27 2015, 05:36 PM

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Funds transfer to m2u savers account can withdraw anytime like m2u normal saving accounts ?
Ah SiAnG
post Nov 27 2015, 05:38 PM

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QUOTE(dannykhoo17 @ Nov 27 2015, 05:36 PM)
Funds transfer to m2u savers account can withdraw anytime like m2u normal saving accounts ?
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yes nod.gif
dannykhoo17
post Nov 27 2015, 05:41 PM

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QUOTE(Ah SiAnG @ Nov 27 2015, 05:38 PM)
yes  nod.gif
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Hi, the normal saving account doesn't have any interest right ? so i transfer all my money to savers account to enjoy interest ?
Ah SiAnG
post Nov 27 2015, 05:44 PM

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QUOTE(dannykhoo17 @ Nov 27 2015, 05:41 PM)
Hi, the normal saving account doesn't have any interest right ? so i transfer all my money to savers account to enjoy interest ?
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if the normal savings account you meant is basic savings account, yes they do have interest albeit the interest is very low.

yes, to enjoy higher interest you can deposit your money into m2u savers account.
dannykhoo17
post Nov 27 2015, 05:54 PM

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QUOTE(Ah SiAnG @ Nov 27 2015, 05:44 PM)
if the normal savings account you meant is basic savings account, yes they do have interest albeit the interest is very low.

yes, to enjoy higher interest you can deposit your money into m2u savers account.
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Both accounts have no difference as i can also use my card to buy stuffs online and withdraw money right? Then i have wasted my time having my cash in the basic savings account :/
Ramjade
post Nov 27 2015, 06:12 PM

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QUOTE(dannykhoo17 @ Nov 27 2015, 05:54 PM)
Both accounts have no difference as i can also use my card to buy stuffs online and withdraw money right? Then i have wasted my time having my cash in the basic savings account :/
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Got. Your card is linked to your basic account. You cannot make purchase from your m2savers. You will need to transfer to your basic account first. Your basic account will most likely be charged rm8/year. There's a way around it. Make a normal basic account with 4x/month withdrawal. That's free. So when you want to withdraw cash from atm, just pick others instead of your basic account. M2savers allow unlimited withdrawal.

You can do like me. Transfer any unused money into Ambank Truesavers (earns 2.8% p.a instead of M2savers which give only 2.25% p.a no minimum amount required - m2savers required min rm2k in your account, no need to topup every Month, free IBG) Bad thing is ambank Truesavers have no IBFT and allow only 3x withdrawal (atm+online transfer) per month.
Ah SiAnG
post Nov 27 2015, 06:36 PM

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QUOTE(dannykhoo17 @ Nov 27 2015, 05:54 PM)
Both accounts have no difference as i can also use my card to buy stuffs online and withdraw money right? Then i have wasted my time having my cash in the basic savings account :/
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yes that's true. both accounts will be linked under the same debit card.

however to purchase stuffs online, do take note this FAQ on Unsecure Online Transaction
dannykhoo17
post Nov 27 2015, 06:59 PM

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QUOTE(Ramjade @ Nov 27 2015, 06:12 PM)
Got. Your card is linked to your basic account. You cannot make purchase from your m2savers. You will need to transfer to your basic account first. Your basic account will most likely be charged rm8/year. There's a way around it. Make a normal basic account with 4x/month withdrawal. That's free. So when you want to withdraw cash from atm, just pick others instead of your basic account. M2savers allow unlimited withdrawal.

You can do like me. Transfer any unused money into Ambank Truesavers (earns 2.8% p.a instead of M2savers which give only 2.25% p.a no minimum amount required - m2savers required min rm2k in your account, no need to topup every Month, free IBG) Bad thing is ambank Truesavers have no IBFT and allow only 3x withdrawal (atm+online transfer) per month.
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Thanks for the recommendation! I think i will just stick with m2savers.. transfer from m2savers back to basic account is instant right? and i withdraw less than 4 times a month.

QUOTE(Ah SiAnG @ Nov 27 2015, 06:36 PM)
yes that's true. both accounts will be linked under the same debit card.

however to purchase stuffs online, do take note this FAQ on Unsecure Online Transaction
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Thank you!
Ramjade
post Nov 27 2015, 07:32 PM

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QUOTE(dannykhoo17 @ Nov 27 2015, 06:59 PM)
Thanks for the recommendation! I think i will just stick with m2savers.. transfer from m2savers back to basic account is instant right? and i withdraw less than 4 times a month.
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Yes it's instant.
jaggi
post Feb 1 2016, 07:14 AM

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Hi. I just opened m2u savers account last month and just received my first interest today. Just want to ask is this how the interest calculated

Balance x 2.25% × no of days ÷ 360 × number of days ÷360
Ramjade
post Feb 1 2016, 08:44 AM

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QUOTE(jaggi @ Feb 1 2016, 07:14 AM)
Hi. I just opened m2u savers account last month and just received my first interest today. Just want to ask is this how the interest calculated

Balance x 2.25% × no of days ÷ 360 × number of days ÷360
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M2u savers is a bad account. Tried closing account, they say cannot close account. Need to email them with a scanned letter with my signature.vmad.gif mad.gif

Calculations
(Balance x 0.0225 x no of days you put)/366

To get 2.25%, one should have >= Rm2000. If balance drop below RM2k, no interest given.

Compare that to Ambank truesavers. 2.8% No need to have minimum amount to get that 2.8%. Even if you have only rm100, you will still get 2.8% returns.
cybpsych
post Feb 1 2016, 09:11 AM

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QUOTE(Ramjade @ Feb 1 2016, 08:44 AM)
M2u savers is a bad account. Tried closing  account, they say cannot close account. Need to email them with a scanned letter with my signature.vmad.gif mad.gif

Calculations
(Balance x 0.0225 x no of days you put)/366

To get 2.25%, one should have >= Rm2000. If balance drop below RM2k, no interest given.

Compare that to Ambank truesavers. 2.8% No need to have minimum amount to get that 2.8%. Even if you have only rm100, you will still get 2.8% returns.
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jsut because you like truesavers, doesnt mean m2usavers is bad.

diff ppl has diff preferences.
Ramjade
post Feb 1 2016, 09:37 AM

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QUOTE(cybpsych @ Feb 1 2016, 09:11 AM)
jsut because you like truesavers, doesnt mean m2usavers is bad.

diff ppl has diff preferences.
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Trying to close m2u savers account via online and telling me system error. Call customer service, 1 week + already until today they didn't fix it yet. Is not an excuse for one of Malaysia's largest bank. 3-4 days still acceptable.

2.25% p a is bad. It might be good last time, but nowadays most banks offer min 2.5% for their savers account

I have a very good mind to write into the newspaper and see what's their response.

My loyalty is not banks but to my money. I will not hesitate to move my money back to maybank should maybank come out with something competitive.

This post has been edited by Ramjade: Feb 1 2016, 09:39 AM
cybpsych
post Feb 1 2016, 09:42 AM

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QUOTE(Ramjade @ Feb 1 2016, 09:37 AM)
Trying to close m2u savers account via online and telling me system error. Call customer service, 1 week + already until today they didn't fix it yet. Is not an excuse for one of Malaysia's largest bank. 3-4 days still acceptable.

2.25% p a is bad. It might be good last time, but nowadays most banks offer min 2.5% for their savers account

I have a very good mind to write into the newspaper and see what's their response.

My loyalty is not banks but to my money. I will not hesitate to move my money back to maybank should maybank come out with something competitive.
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that's the system issue. every bank has some issues, one way or another.

you generalize your preference and applies for all other ppl.

for me, m2usavers is good enough. dont care what truesavers offers cuz i hava no busieness with ambank; and wont bother anytime soon.
Ramjade
post Feb 1 2016, 10:06 AM

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QUOTE(cybpsych @ Feb 1 2016, 09:42 AM)
that's the system issue. every bank has some issues, one way or another.

you generalize your preference and applies for all other ppl.

for me, m2usavers is good enough. dont care what truesavers offers cuz i hava no busieness with ambank; and wont bother anytime soon.
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For 1 week +, they still didn't fix it?

Generalize? Rhb bonus savers, cimb air Asia savers (one must calculate carefully for this - the more money you have, the lesser the effective rates), Ambank truesavers, OCBC SmartSavers all give > 2.5%. There are among the ones I know which give >2.5%
cybpsych
post Feb 1 2016, 10:23 AM

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QUOTE(Ramjade @ Feb 1 2016, 10:06 AM)
For 1 week +, they still didn't fix it?

Generalize?  Rhb bonus savers, cimb air Asia savers (one must calculate carefully for this - the more money you have, the lesser the effective rates), Ambank truesavers, OCBC SmartSavers all give > 2.5%. There are among the ones I know which give >2.5%
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again, doesnt matter and i dont care what other banks are offering.

i have m2u savers and ocbc smartsavers. both are enough for me. simple as that. no need more, no need less.
frost99
post Feb 1 2016, 02:13 PM

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QUOTE(lace @ Nov 26 2015, 08:37 PM)
i close it ady lz to manage it thanx for the help n info guys ..
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Bit late reply here, but perhaps helpful for others - this happened to me before (Error was "Account is not authorized", or something) and customer service replied that it was due to account became dormant. So, I had to go perform an over-the-counter transaction to reactivate it. A bit odd, but anyway...

lace
post Feb 3 2016, 11:22 PM

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QUOTE(frost99 @ Feb 1 2016, 02:13 PM)
Bit late reply here, but perhaps helpful for others - this happened to me before (Error was "Account is not authorized", or something) and customer service replied that it was due to account became dormant. So, I had to go perform an over-the-counter transaction to reactivate it. A bit odd, but anyway...
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ok noted thanx for the help bro


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