CIMB has intensified its effort to urge its debit card members (with the old debit card) to change to new PIN-and-PAY debit card, by 1 April 2017.

Will it be a problem for those with CIMB ATM cards (not debit cards)? Will CIMB forcefully deactivate our CIMB ATM cards by 1 April 2017, forcing us to change to new PIN-and-PAY debit card (with hefty annual fee imposed)?

My CIMB saving account is a basic savings account.

Yeah, there should not be any annual fee imposed on basic savings account. Who knows that CIMB still insists to impose the hefty annual fee (one of the highest annual fee) on CIMB debit cards linked to the basic savings account?

Is it ok that I choose not to change my OCBC ATM card to a OCBC debit card, as I do not want to pay RM 8.48 annual fee? Or, does OCBC offer basic saving account without annual fee?

Can anyone help me on his matter?



Is it ok that I choose not to change my OCBC ATM card to a OCBC debit card, as I do not want to pay RM 8.48 annual fee? Or, does OCBC offer basic saving account without annual fee?

OCBC EDM: http://www.ocbc.com.my/personal-banking/do..._no_header.html







This post has been edited by kart: May 16 2017, 10:07 PM

moonsatelite

Yes, I currently have this Easi-Save saving account.

Still, the debit card annual fee will be imposed from the second year onwards. Is there any way to prevent the debit card annual fee from being incurred from the second year onwards?

I afraid that OCBC will forcefully deactivate the OCBC ATM cards next year.

This post has been edited by kart: May 20 2017, 10:54 PM

For CIMB Bank:

http://www.cimbbank.com.my/en/personal/pre...731:clicks_ros|

It is stated on that website that ATM withdrawals via CIMB ATM card will no longer be possible.

I sent an e-mail to CIMB Customer Service. Although I have a CIMB basic saving account without annual fee, the e-mail sent by CIMB CS stated that I still need to pay RM 15.90 for the debit card.

Thanks for clearing my doubt.

Suppose that I open a basic current account without annual fee, in CIMB. The annual fee of debit card (linked to this basic current account) will not be charged to me, right?

Ok, OCBC is getting very desperate to replace all OCBC ATM cards to OCBC debit cards, until the bank is willing to bear the cost of sending OCBC debit card via mail to home of OCBC bank customers. If I am not mistaken, Bank Negara Malaysia may impose penalty on any bank in Malaysia, which does not achieve an acceptable conservation rate from ATM cards to MyDebit cards. That may be one of some reasons that OCBC Bank is willing to pay for the postal changes, to avoid being given a hefty penalty by Bank Negara Malaysia.


https://www.ocbc.com.my/personal-banking/ca...rd-renewal.html




Let’s say that I refuse to change my OCBC ATM card to OCBC debit card. Thus, I am fully understand that I cannot withdraw money from my saving account, via OCBC ATMs and other ATMs. I am okay with that, as long as I can still control my saving account, using OCBC online banking website (via IBG and IBFT Transfer).


As stated in the website, if I do not obtain OCBC debit card, I cannot perform MEPS Instant Transfers via OCBC Online Banking. Huh? Since when is instant Transfers via OCBC Online Banking associated with OCBC debit card? It is unfair to us OCBC bank customers, as OCBC Bank forces us to use OCBC debit card and imposes RM 8.48 annual fee upon us, just because we want to perform fund transfer via OCBC Online Banking.


For some banks, I can choose not to have a debit card, but can still have access to internet banking website. With the access, I can perform fund transfer (IBG and IBFT Transfer) from and to my saving account, with ease. The absence of the debit card only prevents me from withdrawing money from ATM, which is not really a big issue for me. For retail swiping at credit card terminal, I am sure that many of us will use credit cards instead, for better cashback and reward points.


In short, it is unfair for OCBC Bank to remove our ability to perform MEPS Instant Transfers via OCBC Online Banking, just because we do not obtain OCBC debit card.

This post has been edited by kart: Sep 17 2017, 10:55 AM

Really? Sigh. Are you saying that I have to change to OCBC debit card and pay RM 8.48 annually, just to retain the ability to perform fund transfer (IBG and IBFT) via OCBC Online Banking?

Well, I have a saving account with Standard Chartered Bank. Even though I terminated my Standard Chartered debit card, I can still perform fund transfer (IBG and IBFT) via Standard Chartered online banking website.

In the Fixed Deposit thread (https://forum.lowyat.net/topic/4154481/), some people open basic saving account, without a debit card. For sure, they have access to the internet banking website, in which they can transfer the principal and interest to their saving account in other bank, upon the maturity of the fixed deposit.

Is it possible that the linkage between online banking website and debit card is different for each bank in Malaysia?

This post has been edited by kart: Sep 17 2017, 11:08 PM

Locking the account? Do you mean that the wrong password to the online banking website is inserted for three times and then your access to the website is disabled?


Should that worst case scenario happen, must the bank customer pay the annual fee and the penalty fees to get a debit card, to reinstate the access to the online banking website?

Thank you for sharing your in-depth knowledge in comparing the linkage between online banking website and the debit card. It is indeed very insightful.

If the OCBC bank customer chooses not to obtain the OCBC debit card, at the very least, IBG can still performed via OCBC Online Banking, as you said. That is quite barebone, but it is still sufficient for me to control my saving account via OCBC Online Banking.

For OCBC Bank, the basic saving account is called EasiSave Account.



Even the account holder of EasiSave Account also have to pay RM 8.48 of annual fee, for the OCBC debit card. As such, the bank does not comply with the ruling of Bank Negara Malaysia in ensuring no service or maintenance charge for the ATM / debit card linked with the basic saving account.

I did ask OCBC Customer Service, about the annual fee of the debit card for EasiSave Account. Unlike other banks like Maybank, CIMB and RHB, OCBC Bank does not provide Option 1: No Annual Fee, for the EasiSave Account.


This post has been edited by kart: Sep 19 2017, 04:33 AM

Nom-el, I fully agree with your opinion.

For me, if OCBC dictates that EasiSave Account is their version of Basic Saving Account, OCBC Bank must ensure that EasiSave Account complies with the ruling of Bank Negara Malaysia in ensuring no service or maintenance charge for the ATM / debit card linked with the basic saving account.

Yes, EasiSave Account currently offers unlimited ATM withdrawals, via the OCBC ATM / Debit Cards. So, we can say that the current offering of EasiSave Account is actually Option 2: With Annual Fee (Unlimited Withdrawals).

What is missing now for EasiSave Account is the Option 1: No Annual Fee (Limited Withdrawals). By right, OCBC Bank cannot refuse to offer Option 1 for EasiSave Account, since it is their Basic Saving Account.

I did send an e-mail regarding this issue to OCBC Bank, and the bank said that they do not offer Option 1 for EasiSave Account.

MilesAndMore

Referring to CIMB Basic Current Account (Option 1: No Annual Fee) https://www.cimbbank.com.my/en/personal/pro...nt-account.html, it is clear that I need to place a minimum initial deposit of RM500.

After this CIMB Basic Current Account 1 (BCA1) is opened, will CIMB deduct some money from my current account, for the issuance of the cheque book?

Thank you for your information.

Thanks for your information, hebe87.

This e-mail serves as a black-and-white confirmation.

We all know that OCBC's Basic Savings Account is called OCBC EasiSave Account. Logically speaking, OCBC customers who have only OCBC EasiSave Account are not required to pay issuance fee and annual fee to OCBC, for having the OCBC debit card.

Then again, OCBC Bank should have amended their Conventional and Islamic Banking Fees and Charges documentation (Conventional and Islamic Banking Fees and Charges documentation), by explicitly stating the exclusion in the PDF file that OCBC debit card issuance fee and annual fee do not apply to OCBC customers who have only OCBC EasiSave Account.

Otherwise, OCBC Bank may still claim that the Conventional and Islamic Banking Fees and Charges documentation will overrule the e-mail reply given by Ms. Chew Cheah Yuen Lin.

Nom-el once said that those without OCBC debit card will not be able to perform IBFT via OCBC online banking website, once OCBC Bank fully deactivates OCBC ATM Card.

I can still bear the inconvenience of not having the ability to perform IBFT, as long as I can view my OCBC Easisave saving account, and perform IBG on OCBC online banking website.

For me, it is not justified to pay RM 8.48 annual fee for OCBC debit card, just to have the ability to perform IBFT on OCBC online banking website.

For sure, everyone will have different opinions on this matter. As long as the person makes the choice that suits his or her preference, it should be alright.

This post has been edited by kart: Nov 12 2017, 08:16 AM

Suppose that I swipe my debit card at credit card terminals. Can I ask the bank customer service hotline, to enquire about the Merchant Category Code (MCC) of the transaction?

Is the customer service executive in charge of debit card issues almost as knowledgeable as the customer service executive for credit card issues?

Thank you for the clarification.

^
No. As you said, the answer can be quite different, for the same question.

My opinion is that the customer service executive in charge of debit card issues is less knowledgeable than the customer service executive for credit card issues, but I can be wrong.

The reason why I posed my question here is to know whether other people here have similar experience. Otherwise, I just call the customer service executive in charge of debit card issues. No worries.

Sorry, off topic a bit. I am not sure which the correct thread is.


I have a Hong Leong savings account, a Hong Leong debit card, and access to Hong Leong Connect Internet Banking website.


Let's say that my Hong Leong debit card has expired (today date is way past the expiry date embossed on the debit card). After the expiry of Hong Leong debit card, can I still access Hong Leong Connect Internet Banking website, and perform fund transfer (Interbank GIRO and Instant Fund Transfer) as usual?


Thank you for your information.

Sorry, off topic a bit. I am not sure which the correct thread is.


I have a RHB savings account, a RHB debit card, and access to RHB Now Internet Banking website.


Let's say that my RHB debit card has expired (today date is way past the expiry date embossed on the debit card). After the expiry of RHB debit card, can I still access RHB Now Internet Banking website, and perform fund transfer (Interbank GIRO and Instant Fund Transfer) as usual?


I rarely perform ATM withdrawal, due to lack of RHB ATM near my place. Thus, the absence of RHB debit card does not bring any inconvenience to me.


Yes, I have asked this question before, for Hong Leong Bank. However, different banks normally have different ways and procedures, so I just want to confirm for RHB Bank.


Thank you for your information.