If I already have a Maybank basic saving account, but I don't plan to use that account to online register a M2usaver. If I go to maybank branch to open a new basic saving account with a new debit card and login ID and password and then to open M2usaver from there. Is it ok?

as long as one account, one savers2u, i don't see any problem.

Actually for basic savings account, the rule is one account/customer/bank which means one customer cannot have 2 basic savings account.

yes. that's also true. i think they verify with your IC so if you have an account, i don't think you can make another. however, if you do manage to make another one, then of course you can make that savers account.

I am still waiting for customer service reply to see if I can register a 2nd basic saving account or not.

Well, if I am not able to register a 2nd basic saving account, and thus I register a m2u savers under my first basic saving account. The thing is if I want to buy things online or when I swipe my card in retail store, does the system know if it will deduct my money from my basic saving account or the m2u savers?

And also I think I will only have 1 account number. So if people bank in money to me will it go directly to my basic saving account or m2u savers?

If you go to maybank, there's a notice board there clearly explaining about basic savings account by bank negara and it's stated one basic account/customer.

You card will always be link to the account you open. It will never be linked to M2savers. However you can withdraw money from m2savers by selecting others at atm machine.

M2savers is another account. Hence you will get another account no for m2savers. You can use m2savers to transfer money to other people, use that account no to let people transfer money to you.

Btw, m2savers is obsolete already when there's eGIA-i.

Ok noted and thanks.

If I have 2 account number after I register m2u it will be great so that I can choose which account to give to others so that they can bank in to that particular accoubt.

But if my basic saving account doesn't have enough balance, and I use my card to purchase something, will it deduct from my m2u saving account?

Nope. Card is linked to main account. Your transaction won't go through.

Can 3rd party deposit money into my m2u Savers-i ?
just like normal bank acc

Yes

wire from oversea also can?

I have 2 questions

1) I noticed that there is `protection by PIDM under Islamic m2u savers` and for normal m2u savers there is no PIDM protection. As a non Muslim, Is it advisable to open m2u savers-i? Like if somehow your account get hacked, you can recover your money if it is protected by PIDM, and you do not get anything from conventional m2u savers if your account get hacked or something?

2) recently we have changed the old ATM debit card to new one. And we have new 16 digit number and expiry date on card. I normally book hotels online using the old 16 digit number. If I don't update it, will they still deduct money from my new ATM debit card?

1) both have PIDM. Only difference is with the islamic one slightly higher interest, also even thouhh you don't have RM2k, you will still get very small interest rate. Better ro open islamic one. Non muslim can open. There's no restriction saying only for muslim.

2) once the expiry date for changing over is in place, you cannot use that old card already. Actually I cannot even use that old card immediately once I switched to new card.

Btw, m2savers is antique already. No one uses this product anymore now that there is maybank eGIA-i giving 3.45% which let you withdraw anyday.

Thanks for the info. But for GIA-i the principal is not guaranteed and no protection by PIDM. Does that mean I can't recover my money if somehow my m2u is being hacked or something?

No. No protection by PIDM mean your capital is not guaranteed. But for me, you just need to take note of it, nothing serious, kinda impossible for eGIA to lose your capital.

This post has been edited by Nemozai: May 19 2017, 10:25 PM

well, because i just have my first 5 figures saving for the first time ever and I think of putting them all inside. If anything bad happens i lose it then it will be painful. I am kind of like risk averse guy.

First, PIDM only cover you if the bank bankrupt. It don't cover if kena hack/rob.
Second, to protect yourself from kena hack, use common sense. No antivirus can protect you 100%. Don't simply click link, don't simply install stuff, install a antikeylogger (zemana free and keyscrambler personal are good choice), don't use public wifi, if possible don't do transaction via phone.
Third, if a bank bankrupt, PIDM doesn't have enough money to cover everybody (someone did a calculations already)
Fourth, if maybank bankrupt, you no need to think about your m2savers anymore as malaysia will be in deep s**t

If you don't like maybank egia, can consider FSM money market fund which invest in FDs. You can withdraw anytime you like but need to wait 2 days for money.

This post has been edited by Ramjade: May 19 2017, 10:53 PM

i have few placements of 5-figure amount have been rolling for months now. placed 100+ placements for 4-figure amounts for few years now when the rate was 4% till now at 3.45%.

all safe and sound.


if you cannot tahan the little risk for the little gain, then avoid any GIA products. you should look at other investment vehicles instead.

The post in page 1 should change to 2.0% from rm2k-50k and 2.2% >50k.

this is a very old topic, and TS has not been here for years.