Hi, I have a STANDARD CHARTERED SAADIQ business current account, it has been very active since 7 years ago, and still active now. I wanted to open a basic saving account and was rejected few years ago. Instead, was ask to open an ESAVER account(which no bank statement provided, only could access through online banking, and the ATM wasn't free). And few years has passed, they've added a JustOne Saving Account, which comes with a current account. I approached to account manager, insisted to open BASIC SAVING ACCOUNT, and were told they do not have such account, only have ESAVER(entry RM250) OR JUSTONE SAVING(entry RM500). As far as I know, bank Negara has a ruling to guide the basic needs of public rights, correct? Please advice. Thank you very much.

I opened ESAVER 2 years ago when Standard Chartered Bank offer a good deal in FD on condition to open an ESAVER SAVING ACCOUNT. For me, it is a waste of my money sitting in it because utilities bills, Telco bills, income tax, EPF, interbank transfer to most local banks at that time was not available. The only thing I could do was to spend for online shopping. This may be convenient for some but not for me. My purpose to open an internet banking is to save my time queing, not for shopping purpose. No MEPS(this is for the use of local bank ATM) at that time, you can imagine how inconvenient that you can only withdraw and transfer fund from a few foreign banks. I didn't go for their ATM because RM20 would be charged. After 6 month when my FD matured, i closed the ESAVER account. Beware of this JUSTONE Saving account, don't forget to ask them this local bank ATM issue. Somemore you are forced to open 2 account(ie 1 saving PLUS 1 current=overdraft account) when you sign the agreement. Beautiful promises will be made, like oh, since you have money in this saving accounts, no problem issuing cheque from the attach current account. I have not tried this account, but I guess this mechanism is exactly molded from FLEXILOAN account. Your current account will always be zero amount no matter how much you deposit into your saving, once you issue cheque, your current account will show an overdraft, you will never know it until your first statement at the end of month shows daily interest charge, at that time you can only blame for yourself. BETTER TO ASK BEFORE YOU OPEN ACCOUNT WITH THEM. This bank tends to put in a clause such like they have the right to change condition after promotion period whenever they think appropriate without account holder's prior knowledge. ONCE BITTEN BY SNAKE, U'LL FOREVER REMEMBER.
I use this account only because it is the only bank near my house. I read from Standard Chartered official website, stated that as long as you bring in new cash with minimum RM1500(Personal), RM5000(Preferred), RM10000(Priority account), you are entitle to free unlimited IBG transaction. No mention on how much will be charged if no new minimum fund coming in every month. Anyone with JUSTONE account mind to share?