OCBC is not the only foreign bank charging RM4 for every successful withdrawal at local banks ATM. A few other foreign banks are charging the same too. However, some banks such as HSBC and Citibank for instance, are subsidizing their customers holding certain account types by giving them x times of free cash withdrawal at local banks ATM.


No. You should refer to your bank for that. Local banks should still charge only RM1, even at foreign bank ATM through the MEPS network. RM4 is what most foreign banks charge to their ATM/debit card holder when withdrawing money through local banks ATM.

By the way, for those banks under House ATM network (HSBC, SCB, UOB and OCBC), you'll be charged only RM1 for each successful withdrawal using your OCBC ATM card at SCB ATM (just an example). If you're a SCB PB customer, you'll get unlimited fee-free withdrawals at all HSBC, UOB and OCBC ATM nationwide using your SCB PB VISA debit card.



This post has been edited by MilesAndMore: Aug 16 2012, 06:12 PM

Same goes to HSBC's. All they need is your MyKad and very important, your thumb

Yes. They still send me a monthly consolidated statement However, HSBC HK will completely stop sending out statement to all account holder starting next month and this includes Private Banking & Premier Banking customers. Last year they said they will only charge those on non-packaged account as well as Advance customers. Guess they have a change of mind again...

On a different note, two or three months ago, all overseas customers staying outside of Singapore holding a HSBC SG account started to get their monthly statement mail in directly from HSBC HQ in Hong Kong. Previously all statement was mailed directly from HSBC SG. So I guess all HSBC SG overseas customers staying outside of Singapore will soon get a hard copy letter informing them that they must sign-up for online banking account because it will be the only way to check your account details/transactions


It is called Time Deposit. The Islamic one is called Term Deposit-I. Not too sure about HSBC Foreign Currency Time Deposit as I do not have any FCTD with them

This post has been edited by MilesAndMore: Aug 24 2012, 03:23 AM

Great information bro! I didn't know they actually have these types of account that offer pretty attractive interest rates. One has to very hardworking in tracking all this benefits though as the account with so many T&C. Anyway, it's yet another great alternative when it comes to choosing a savings account. Thanks again for sharing

You're THE man bro!

Anyway, you should consider to include CIMB Air Asia Savers Account as well as AMIslamic Bank Basic Savings Account-I into your table too.

By the way, last time I went to Maybank to open a regular Savings account, i kept on insisting I want the annual fee-free ATM card. But the guy told me if this is the case, he will help me to open a BSA instead but I insisted that he open a regular savings account for me and give me the 4x free ATM cash withdrawal ATM/debit card. In my opinion, this is better as you won't be charged on the 5th and so on Maybank ATM cash withdrawal if you have at least RM5k inside

Anyway, back then my primary savings account was CIMB Air Asia Savers account as there was still no M2U savers. This CIMB Air Asia Savers Account pays me a flat interest of 1.60% pa and gives an extra incentive of RM5/month if i have an average balance of at least RM5k in a month. I opened a Maybank savings account so that I can view everything under a single login username and there is no need to call or go to the branch to link any new account as everything is automatic if you have a Maybank savings or current account.

I respect you, you also respect me. Sama-samalah


Sure. No problem And you are right. There are quite a few current accounts in the market paying close to 2% and above.


When the e$aver account was first introduced back in October 2007, Standard Chartered was paying 2.50% for balance between RM1-RM100,000. Back then it was also giving out 7% rebate for petrol. The 7% petrol rebate was a promotion of course but the promotion was extended 3 or 4 times. It was the BEST savings account back then But now... it's so

HSBC will only invite you to some fancy dinner or ask you to go to their branch to have some free moon cake/light refreshment if you've invested in their unit trust/structured product etc. in that particular year


By the way, i totally agree with what you said in your blog about not to be influenced blindly when your Relationship Manager advises you to invest in one of their bank's structured investments. I invested in a 4-year structured product in 2009 and the return to date is nil. Yup, 0 I should have just put the extra money in ASW2020 (lots of unsold Bumi units then). The lowest dividend ever declared for ASW2020 in the past 3 years was 6.30% On the bright side, this structured product that I invested in will mature next year. Finally


The correct term is OPR

This post has been edited by MilesAndMore: Sep 15 2012, 10:13 AM

Ya lah Won't buy any of these things again

No worries. You have not gone off-topic so it's fine


Totally agree with you

This post has been edited by MilesAndMore: Sep 16 2012, 06:00 PM

No. It's not too good to be true. The 10% interest is given on the total yearly interest earned.

Assume that your savings account comes with a per annum interest of 1%, and let say that you've earned only RM10 for this savings account of yours last year, the 10% extra interest will be given based on the RM10 you got. Basically it's like interest on your interest earned.

This post has been edited by MilesAndMore: Oct 2 2012, 08:40 PM

No tax for any amount for a few years already. Last time one had to split his FD in several RM100K in each account to avoid being taxed.

Not. It is not.

All online IBG transfers made before the bank's daily cut-off time on a banking day (varies by banks, normally between 11.30am-12.30pm) will be credited to the designated bank account on the same day by 6pm. For money transfer to banks such as Maybank, CIMB Bank, HSBC etc, sometimes you'll get the money as soon as 2pm on the very same day.

PBB or Maybank ? Anyway... see below.


It depends on what your instruction is when you opened the account.

My friends who work in bank told me quite a few things about the perks they get, but they did not mention about this 1% extra. That is so good!!! ... for them that is

This post has been edited by MilesAndMore: Oct 16 2012, 01:18 AM

I think having RM2 million or above gives one even more reason to play musical chair. Yes. There are other investments that give better return but the risk is greater and timing is crucial. And not to mention that certain types of investment make your money very illiquid unlike FD. A wise man with RM2 million or above should diversify his investment and at the same time keeping a big portion of his cash in highly liquid FD


LOL. There was one Public Bank staff that used to frequent this site. Unfortunately I don't remember his username. Else you can contact him to see if he is still working at PBB and if there is any vacancy at their credit card department. Public Bank definitely can use your expertise to beef up their game


0% interest for housing loan up to RM100K. Above that amount, it is something like 2% fixed! For car hire purchase, I think it's 1%. Have to ask them again


Agreed

HSBC (not restricted to HSBC Premier Banking) has a daily IBG limit of RM40,000. The default limit is RM5,000/day though. You need to change the limit at any HSBC branch.

Huh ? Anyway, if it is between ASB or FD, the answer is ASB. No doubt!


Not restricted to HSBC Premier means all HSBC accounts get RM40,000/day online IBG limit too.

It is highly unlikely for any banks in Malaysia to collapse though. If something goes wrong, most likely it will be taken over by another bank and the bank that took over the failed bank will assume all the liabilities. So basically your deposit is safe.

Haha. I see. Didn't get it then