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 Savings Account in Malaysia

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Eddy924
post Oct 10 2015, 11:29 PM

On my way
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589 posts

Joined: Oct 2010


QUOTE(cfc @ Oct 10 2015, 10:48 PM)
hi I understand that most bank if offering Basic Saving Account which only need RM20 initial deposit , which has no annual service charge on ATM card too

but recently friend of mine went to bank to apply for a BSA
bank staff told that not possible and only can proceed for normal SA

so would like to ask sifu here
does the bank really has the right to reject a person to apply for BSA account ?

if this is a "wrong action" from bank
what is the best advice ,
maybe like ask bank to provide reason in writing, etc
so that we can complaint to bnm
*
afaik, under bnm rules banks cannot reject ur bsa request, if they do u can file a compliant to bnm
bank hv the right to do so when u already hv a bsa with them, so u cant open another one, unless a bsa-i, or another reason is u failed the bank kyc process... bank hv right to reject ur whatever application.... based on what i know lar, someone pls correct me if im wrong...
Eddy924
post Oct 11 2015, 10:04 AM

On my way
****
Senior Member
589 posts

Joined: Oct 2010


QUOTE(cfc @ Oct 10 2015, 11:44 PM)
thanks Eddy
I know that they have the right to reject ur application for applying an account if u failed ctos, ccris, bad debt , loan ..
but since they is offering an SA, that means that applicant is free from those problem
in my mind i jus can think of they die die wan to charge the atm card annual fee and higher deposit
*
normally bank will have bsa/bsa-i with fee or non-fee,
taking ambank for example, (if they din change the t&c).. for fee account u will be charged rm8 per year for account annual fee, they don charge on atrm card.. but upside is unlimited times of withdrawal at amnbank atm and otc service
u can op for non-fee account, u will be limited to 8 times free withdrawal at amb atm, and 4/5 times otc service... over that, atm withdrawals will charge +rm0.53(with gst) per withdrawal and rm1.06 otc service, ie withdrawal & etc.... i believe this practice widely apply to others local bank, mbb for example...

but personally i think filing a compliant to bnm is somehow waste of time, just go another bank open their bsa/bsa-i



 

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