Noted! But it doesnt matter what account I open in either these two banks for salary purposes right? Which Im seeing that savings is the account I shoiluld open for salary entry.

thanks for the tips. just wondering if we could use m2u savers account for daily transaction or crediting salary directly (e.g from company)? or still need to go through saving account and then manually transfer it into m2u savers?

no issue.

only at ATM, you cannot perform Fast Cash withdrawal directly. Just enter manual amount and select M2U Savers account.

it works exactly like a savings account so yes. no need to do that transfer from savings to this account.

Great! thanks!

can, my salary is directly credited to my m2u saver account

I noticed MBB stop publishing M2U Savers-i interest rate at their website. Are they have the same rate as M2U Savers? Is there any benefit of having M2U Savers-i over M2U Savers account?

i could be mistaken but last week i still see the interest rate under savers-i. i think both of them now have the same interest rate. savers-i used to be good because of the low initial amount to start the interest rolling compared to 2k for savers.

Thank you!

Hello Ramjade,
I have one question....
If I am looking for a place to temporary park my money with higher interested compared to Saving account, is this type of cash management fund good recommended?
Does it act like other funds (equity...etc)?
TQ.

Yes good place to park money.
Understand what is money market fund. It's basically UT which invest in FDs.

Is this maybank savers a good idea if I need a liquid account (i.e. for expenses like living, leisure, etc.). The drawback is it needs RM2000 to enjoy the 2% rate but is there a better option out there?

Of course. See few post before yours. I never recommend or will use m2savers anymore.

I see. But for what you had stated before, you can't use those ANSB or the Philip fund for immediate cash use isn't it? Like you can't redraw from ATM, purchase things online, etc? Or do you perhaps hold a set of cash on hand for an entire months worth of living expenses (food,petrol,etc)?

Yes thats the problem. if you have concern of liquidation, go for account with physical counter/atm.
you can look into uob e account too although higher amount to enjoy interest.
fresh grad, m2u saver is quite good edy

Plan well and you won't have such issue. How often do you need to withdraw cash? Always use credit card to pay for your purchases. Using cash is the last option.I use cash where ever my cards are not accepted.

If you want lower minimum keep, consider getting Savers-i instead.

m2u saver seems not bad for the time being, unless theres something really similar and better out there, perhaps at a lower deposit to enjoy the rate? UOB e account up to RM5k has 0.05% only. The 3.60% is like above 50k. LOL

I do plan to use credit card but I need atleast 3 months payslip to apply, so I gotta work 3 months first haha. Probably not very often that I would redraw cash but cash I use for small things like maybe food, etc. If somehow no cash, need redraw from credit card theres a really high charge I think. Which is why Im looking at like a savings account where I don't put a lot of money but still got okay rates ( the account is more for quick cash use). Maybank 2u savers need atleast 2k for 2% which I would frankly rather put more into the ANSB for returns of about 6%.

I think is this right? http://www.maybank2u.com.my/mbb_info/m2u/p...d=/mbb/Personal

It seems atleast if drop below 2k got some amount of interest, where the normal one if below 2k got nothing.

I bought AS1M, but have to go to bank few days to check for the availability of the units. haha...

if use normal saving account to do saving, M2U saver is recommended. Other oversea bank saving account need you every month deposit a certain amount, and use their credit card, and some T&C, then only give you 3% to 4%p.a.. M2U saver is you got minimum RM2k balance in the account then give you 2%p.a.

Use Myasnb. Free of charge and is online. No need to visit banks.