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 Savings Account in Malaysia

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koala225
post May 31 2019, 12:05 AM

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QUOTE(#Victor @ May 30 2019, 11:33 PM)
yes, open and close simultaneously. they cannot just close primary CASA like that prior assigning another CASA as primary because currently having other Maybank products and access for M2U, as well as without scraping existing debit card.
i was not given choice to choose type of account as told only kawanku can opt for non annual fee. in m2u the account name is Savings Account, i believe it should be Basic Savings Account. how do i know the account type in M2U?

Added on
btw, just called MBB contact centre ask regarding no annual fee for PSA, was told it can be waived and asked to call them at the branch if staff don't entertain such request. i am puzzled who should i believe whereby both side are also under same entity. can u try go to branch and contact call center when staff don't allow u to opt for non annual fee so that i can revert my closed account
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Do u have any slip for opening new account and close account at the same date for me to show the officer if they insist can't close and open account at the same time? I felt every branch given different answer, it is very hard to argue if I don't have any proof.

skylineremix
post May 31 2019, 12:09 AM

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QUOTE(koala225 @ May 30 2019, 03:17 PM)
Debit advice is debit card annual fee which told by cs from fb. I just got back from my home branch, the staff told unable to change to no annual fee with no unlimited withdrawal. The only way is close and open and new account but it is a lot of work. It depends on the staff will help u to do so. I cannot do it at my home branch because my IC change to different state, So I have to open account based on my IC. She said nothing she can do. Reopen account is subject to the branch too because after u close and reopen u need to provide some documents to reopen saving account. The bank in my state told me have to wait 6 months, while my home branch told me only need 24 hours to do so. I also asked how if I terminate my debit card, she said I will no longer to login maybank2u if I do so. There is no other option, as she also show me her text talk to her senior/ HQ I don't know. At least she try her best to help me. Nothing she can do. If really very care the annual fee, u may close your account. I was thinking is there any chance if I close account and open MAE account after that. Because MAE account no need to have saving account in maybank. But you have to close existing account first else the MAE account debit card will link to existing account.
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QUOTE(#Victor @ May 30 2019, 03:40 PM)
may i know what SA are u holding with MBB that got charged with DEBIT ADVICE (annual fee)?

i just browse back my conversation last year with Maybank CS via Facebook regarding annual fee for ATM, was told able to terminate the unlimited ATM withdrwal subscription (RM8.48) at branch.
besides, due to reclassification of account last year, was told that the reclassification will not affect the annual fee subscription option as the subscription is following ATM card but after 1 year it shows that what the CS said is not reliable.

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QUOTE(Ramjade @ May 30 2019, 11:44 PM)
Is posted on Maybank 2u what kind of account it is.
Like mine I told them upfront upon opening an account I want a free basic saving account, I do not want the paid one and they told me gave me a free account.
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I faced the same thing this week.
Savings account open long time ago and never once charged with annual fee.

However, I have current account with Maybank (m2u Premier).
Visit home branch to get service fee refunded and cancel ATM card service for Personal Savings Account. Internet banking still maintain.

Since I hardly withdraw cash from ATM, when needed just instant transfer to my other savings account with other bank and withdraw from there.

Was told that I could apply ATM service for current account without annual fee but have to specifically mention only the current account and pay rm12. Will consider if atm card is really needed in the future.

Ramjade
post May 31 2019, 12:14 AM

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QUOTE(#Victor @ May 31 2019, 12:03 AM)
it just show Savings Account in M2U. they told me it's Kawanku and i do not have any other options if i want opt for non annual fee type.
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Then you need to call up customer service and ask your account is free or need to pay. Next time tell them upfront you want free basic savings account. During application there's option to tick free basic saving account.

Of course personal saving account could be one from maybank and not compulsory from BNM that all banks in Malaysia must offer options for free basic saving account.

Free basic saving account is a rule by BNM.
Annual fee basic saving account is also a rule by BNM.

Anything other than basic saving account is from the banks.

QUOTE(koala225 @ May 31 2019, 12:05 AM)
Do u have any slip for opening new account and close account at the same date for me to show the officer if they insist can't close and open account at the same time? I felt every branch given different answer, it is very hard to argue if I don't have any proof.
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Nope. Throw it away. Again is a long time ago. Like 7 years back and as mentioned could be change in bank policy or your bank account doesn't let you convert to free account.

But if you are on basic saving account, I think can change to free one.

I faced same issue with Cimb. Just close and open new account. Of course they gave me dagger stares when I asked for free account.

This post has been edited by Ramjade: May 31 2019, 12:15 AM
koala225
post May 31 2019, 12:15 AM

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QUOTE(skylineremix @ May 31 2019, 12:09 AM)
I faced the same thing this week.
Savings account open long time ago and never once charged with annual fee.

However, I have current account with Maybank (m2u Premier).
Visit home branch to get service fee refunded and cancel ATM card service for Personal Savings Account. Internet banking still maintain.

Since I hardly withdraw cash from ATM, when needed just instant transfer to my other savings account with other bank and withdraw from there.

Was told that I could apply ATM service for current account without annual fee but have to specifically mention only the current account and pay rm12. Will consider if atm card is really needed in the future.
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I visited 2 branches today. Both officer said if i cancel debit card I cannot access maybank2u anymore. But u said can still browse online banking. Do u try to browse online banking after cancel card?
Ramjade
post May 31 2019, 12:28 AM

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QUOTE(koala225 @ May 31 2019, 12:15 AM)
I visited 2 branches today. Both officer said if i cancel debit card I cannot access maybank2u anymore. But u said can still browse online banking. Do u try to browse online banking after cancel card?
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Cancel and issue you a new one. Can access again.
#Victor
post May 31 2019, 12:33 AM

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QUOTE(koala225 @ May 31 2019, 12:05 AM)
Do u have any slip for opening new account and close account at the same date for me to show the officer if they insist can't close and open account at the same time? I felt every branch given different answer, it is very hard to argue if I don't have any proof.
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only account closure slip as showed earlier. they did not provide any slip for account opening. the officer even offered to close the account o the spot when i was still considering to hold first while checking out the authenticity of the PSA issue. just call to Maybank call center if branch officer deny ur request.

QUOTE(skylineremix @ May 31 2019, 12:09 AM)
I faced the same thing this week.
Savings account open long time ago and never once charged with annual fee.

However, I have current account with Maybank (m2u Premier).
Visit home branch to get service fee refunded and cancel ATM card service for Personal Savings Account. Internet banking still maintain.

Since I hardly withdraw cash from ATM, when needed just instant transfer to my other savings account with other bank and withdraw from there.

Was told that I could apply ATM service for current account without annual fee but have to specifically mention only the current account and pay rm12. Will consider if atm card is really needed in the future.
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do u mean Personal Saver account instead? did u get ur annual fee refund? branch officer rejected the refund whereby it was charged just few days ago.

QUOTE(Ramjade @ May 31 2019, 12:14 AM)
Then you need to call up customer service and ask your account is free or need to pay. Next time tell them upfront you want free basic savings account. During application there's option to tick free basic saving account.

Of course personal saving account could be one from maybank and not compulsory from BNM that all banks in Malaysia must offer options for free basic saving account.

Free basic saving account is a rule by BNM.
Annual fee basic saving account is also a rule by BNM.

Anything other than basic saving account is from the banks.
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called to customer service to asked that but they unable check that in their system if it's not charged (yet) and asked to refer to branch for checking.

i supposed the newly open Savings Account is pay per use (non annual fee) since they already know the purpose for opening the account due to PSA does not have the pay per use option.
#Victor
post May 31 2019, 12:36 AM

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QUOTE(koala225 @ May 31 2019, 12:15 AM)
I visited 2 branches today. Both officer said if i cancel debit card I cannot access maybank2u anymore. But u said can still browse online banking. Do u try to browse online banking after cancel card?
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QUOTE(Ramjade @ May 31 2019, 12:28 AM)
Cancel and issue you a new one. Can access again.
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don't cancel, u have to pay for issuance of new debit card. assign ur existing card to new CASA prior closing the current linked CASA.
Ramjade
post May 31 2019, 12:39 AM

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QUOTE(#Victor @ May 31 2019, 12:33 AM)
only account closure slip as showed earlier. they did not provide any slip for account opening. the officer even offered to close the account o the spot when i was still considering to hold first while checking out the authenticity of the PSA issue. just call to Maybank call center if branch officer deny ur request.
do u mean Personal Saver account instead? did u get ur annual fee refund? branch officer rejected the refund whereby it was charged just few days ago.
called to customer service to asked that but they unable check that in their system if it's not charged (yet) and asked to refer to branch for checking.

i supposed the newly open Savings Account is pay per use (non annual fee) since they already know the purpose for opening the account due to PSA does not have the pay per use option.
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Call tomorrow during working hours. Now bank maintenance time.

QUOTE(#Victor @ May 31 2019, 12:36 AM)
don't cancel, u have to pay for issuance of new debit card. assign ur existing card to new CASA prior closing the current linked CASA.
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I will cancel and apply. Why? Pay one time RM8 fee is better than paying yearly RM8.
koala225
post May 31 2019, 12:59 AM

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QUOTE(#Victor @ May 31 2019, 12:36 AM)
don't cancel, u have to pay for issuance of new debit card. assign ur existing card to new CASA prior closing the current linked CASA.
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Do u mean open new account first before close the existing account then link the old debit card to new account? If they refused to close and open new account, u just contact call centre on the spot and complaint? or pass your phone for the officer talk to call centre? What if the officer don't want to pick up your phone talk to them? write down their name complaint to HQ maybank and BNM? Most probably they refuse to reopening account because they have alot of work to do.
#Victor
post May 31 2019, 01:06 AM

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QUOTE(Ramjade @ May 31 2019, 12:39 AM)
Call tomorrow during working hours. Now bank maintenance time.
I will cancel and apply. Why?  Pay one time RM8 fee is better than paying yearly RM8.
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is not maintenance issue. already called during evening, was told to check whether an account is pay per use or annual fee type, only branch can check that or another way is by looking if there is annual fee charged to the primary account.

Added on
just got call from MBB regarding feedback with PSA annual fee issue, was told PSA is compulsory for annual fee as they already verified with the product owner. they will investigate on their officers that provide the wrong information.
during the call, was told that the charged annual fee can actually be refunded based on the branch's discretion.

TL;DR: Personal Saver/-i Account is an account that compulsory for annual fee. Refer to the Clause 12 in regards to the unlimited withdrawal fee.
Terms and Conditions
#Victor
post May 31 2019, 01:11 AM

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QUOTE(koala225 @ May 31 2019, 12:59 AM)
Do u mean open new account first before close the existing account then link the old debit card to new account? If they refused to close and open new account, u just contact call centre on the spot and complaint? or pass your phone for the officer talk to call centre? What if the officer don't want to pick up your phone talk to them? write down their name complaint to HQ maybank and BNM?  Most probably they refuse to reopening account because they have alot of work to do.
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yes, if u close ur primary CASA that linked with ur debit card prior assigning to new CASA, ur card will be void. not sure whether they will help u assign back, later u will another create another issue so better open and close simultaneously.
u can call prior going to the branch, get the agent name. if u call on the spot, hand over to the branch officer that deny ur request on open and closing of account simultaneously to speak to the agent. and yeah, always get their name so u can lodge complain later (which i missed out this part earlier)
skylineremix
post May 31 2019, 01:13 AM

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QUOTE(koala225 @ May 31 2019, 12:15 AM)
I visited 2 branches today. Both officer said if i cancel debit card I cannot access maybank2u anymore. But u said can still browse online banking. Do u try to browse online banking after cancel card?
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Online banking still works.

QUOTE(#Victor @ May 31 2019, 12:33 AM)
do u mean Personal Saver account instead? did u get ur annual fee refund? branch officer rejected the refund whereby it was charged just few days ago.
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I got the annual fee refunded for Personal Savers Account.

This post has been edited by skylineremix: May 31 2019, 07:52 AM
#Victor
post May 31 2019, 01:32 AM

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QUOTE(skylineremix @ May 31 2019, 01:13 AM)
Online banking still works.
I got the annual fee refunded for Personal Savers Account.
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sometimes info here is more accurate than what was told by officer. why do they always like to frighten ppl. i was thinking why cancelling of Debit card will revoke the access to M2U whereby credit card users can have access to M2U without CASA with the bank. shouldn't have believe them despite they are more in person

thanks for the confirmation, without asking i would just blindly believe the branch officer that it is not refundable 😑🤦‍♂️
koala225
post May 31 2019, 02:22 AM

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QUOTE(Ramjade @ May 31 2019, 12:28 AM)
Cancel and issue you a new one. Can access again.
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What is the purpose to cancel and get a new card? I already get charged rm8 annual fee. reissue a new card have to pay rm12. The problem isn't solve, I'll get charged again rm8 next year because your account type didn't change . the name still Personal SA
koala225
post May 31 2019, 02:29 AM

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QUOTE(#Victor @ May 31 2019, 01:32 AM)
sometimes info here is more accurate than what was told by officer. why do they always like to frighten ppl. i was thinking why cancelling of Debit card will revoke the access to M2U whereby credit card users can have access to M2U without CASA with the bank. shouldn't have believe them despite they are more in person

thanks for the confirmation, without asking i would just blindly believe the branch officer that it is not refundable 😑🤦‍♂️
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I had told the officer I have credit card already link with maybank2u. If I cancel debit card, I can still using credit card to create new account and log on. But she your primary is debit card, the whole online banking will be close. End up did nothing.

My problem now is home branch different town. My IC already changed to new town, so i cannot open and close at the same time. Means I have to open account in my current town then close in my home branch? But my current town branch officer already said nothing changes if i open a new account? very frustrated. I think i better email to HQ cc to BNM get further action.

May I know your new account account numbers is same with the old account numbers?

This post has been edited by koala225: May 31 2019, 02:37 AM
skylineremix
post May 31 2019, 07:55 AM

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QUOTE(#Victor @ May 31 2019, 01:32 AM)
sometimes info here is more accurate than what was told by officer. why do they always like to frighten ppl. i was thinking why cancelling of Debit card will revoke the access to M2U whereby credit card users can have access to M2U without CASA with the bank. shouldn't have believe them despite they are more in person

thanks for the confirmation, without asking i would just blindly believe the branch officer that it is not refundable 😑🤦‍♂️
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You're welcome. Glad that information shared could help others.

QUOTE(koala225 @ May 31 2019, 02:29 AM)
I had told the officer I have credit card already link with maybank2u. If I cancel debit card, I can still using credit card to create new account and log on. But she your primary is debit card, the whole online banking will be close. End up did nothing.

My problem now is home branch different town. My IC already changed to new town, so i cannot open and close at the same time. Means I have to open account in my current town then close in my home branch?  But my current town branch officer already said nothing changes if i open a new account? very frustrated. I think i better email to HQ cc to BNM get further action.

May I know your new account account numbers is same with the old account numbers?
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Pretty sure old account number cannot be "re-use".
Ramjade
post May 31 2019, 10:45 AM

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QUOTE(#Victor @ May 31 2019, 01:06 AM)
is not maintenance issue. already called during evening, was told to check whether an account is pay per use or annual fee type, only branch can check that or another way is by looking if there is annual fee charged to the primary account.

Added on
just got call from MBB regarding feedback with PSA annual fee issue, was told PSA is compulsory for annual fee as they already verified with the product owner. they will investigate on their officers that provide the wrong information.
during the call, was told that the charged annual fee can actually be refunded based on the branch's discretion.

TL;DR: Personal Saver/-i Account is an account that compulsory for annual fee. Refer to the Clause 12 in regards to the unlimited withdrawal fee.
Terms and Conditions
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There you go. Personal savers us maybank account. They have every right to charge you annual fee. If you had applied for free basic saving account then yes us free.

QUOTE(koala225 @ May 31 2019, 02:22 AM)
What is the purpose to cancel and get a new card? I already get charged rm8 annual fee. reissue a new card have to pay rm12. The problem isn't solve, I'll get charged again rm8 next year because your account type didn't change . the name still Personal SA
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When you close account, you close your card also. You want a free account right? Since they don't want to convert, that's th e only way. BTW free basic saving account does not get charged for card.
#Victor
post May 31 2019, 10:46 AM

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QUOTE(koala225 @ May 31 2019, 02:29 AM)
I had told the officer I have credit card already link with maybank2u. If I cancel debit card, I can still using credit card to create new account and log on. But she your primary is debit card, the whole online banking will be close. End up did nothing.

My problem now is home branch different town. My IC already changed to new town, so i cannot open and close at the same time. Means I have to open account in my current town then close in my home branch?  But my current town branch officer already said nothing changes if i open a new account? very frustrated. I think i better email to HQ cc to BNM get further action.

May I know your new account account numbers is same with the old account numbers?
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to be safe then don't terminate ur PSA first as it is ur primary CASA that linked with M2U and debit card. maybe what the officer told u is true.

no such thing closing account must be at home branch. can be close at any branches, same goes to other banks that i have experience before.

impossible to get back old account number for new account unless u request for conversion or reclassification of account type. btw HQ contacted me and i told the issue, they able to assist to communicate with the branch for my PSA account conversion and revert the closed account.
koala225
post May 31 2019, 11:49 AM

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QUOTE(#Victor @ May 31 2019, 10:46 AM)
to be safe then don't terminate ur PSA first as it is ur primary CASA that linked with M2U and debit card. maybe what the officer told u is true.

no such thing closing account must be at home branch. can be close at any branches, same goes to other banks that i have experience before.

impossible to get back old account number for new account unless u request for conversion or reclassification of account type. btw HQ contacted me and i told the issue, they able to assist to communicate with the branch for my PSA account conversion and revert the closed account.
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May I know You contact branch first or contact HQ first? If I contact HQ impossible to hold the line so long while I'm waiting for my queue. I am not cancel my debit card because officer told will effect access to online banking because it really happen to my hlb after I cancel my debit card. I think i better open a new account first before close the old 1. Bank didn't say we only can opening 1 saving account what. My friends have 5 saving accounts with hlb. As I check with mbb cs they said we can have more than 1 saving account.

PS- Damn the officer always give wrong info said if i close and reopen account the annual fee still the same. 2nd, I only can open new account after 6 months if i close my existing account. The summary is they are lazy to do a lot of work. I will visit again next time because I have online fd not reach maturity cannot simply close account. If they said the 6 months cooling period again , I'll get their name and feedback to HQ see whether that person need to train again.

Anyway thanks for your sharing.

This post has been edited by koala225: May 31 2019, 12:30 PM
#Victor
post May 31 2019, 12:34 PM

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QUOTE(koala225 @ May 31 2019, 11:49 AM)
May I know You contact branch first or contact HQ first? If I contact HQ impossible to hold the line so long while I'm waiting for my queue. I am not cancel my debit card because officer told will effect access to online banking because it really happen to my hlb after I cancel my debit card. I think i better open a new account first before close the old 1. Bank didn't say we only can opening 1 saving account what.  My friends have 5 saving accounts with hlb. As I check with mbb cs they said we can have more than 1 saving account.
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for account closure and opening, i din contact Maybank Customer Care Centre because it already can be done at branch without any issue. i contacted call centre prior visiting the branch regarding the pay-per-use and refundable annual fee for PSA. end up still believe what the officers in the branch told because they bring up the whole team to explain it is not doable doh.gif

don't cancel ur debit card, why need to pay unless u want to get a new debit card. open another CASA (Basic Savings Account for ur case if u want no annual fee) before closing ur current primary CASA. they can do the opening and account closure simultaneously.
u can have more than one CASA with same bank if the CASA type not already exists and active.

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