Savings Account in Malaysia
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  Oct 10 2015, 07:00 PM
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#1
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Junior Member
118 posts Joined: Oct 2011 From: Black Mesa  
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Want to ask a basic/noob question about savings account;
I currently have some savings account which are redundant (not using anymore)...; - What happens if I withdraw all the money from a savings account (will the bank close the account)...? - If I only leave behind like RM50 in a savings account & not bother anymore, will the bank close the account due to inactivity...? --- |
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Oct 10 2015, 07:26 PM
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#2
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Junior Member
118 posts Joined: Oct 2011 From: Black Mesa
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QUOTE(Ramjade @ Oct 10 2015, 07:21 PM) 1. Don't know whether you can withdraw all out via online or not. Don't think you can.But if you go to counter, then I think sure close account. O I see..., thanks for the hands up.2. Inactivity is 7 years got no activity.  7 years is a very long time to qualify as inactivity lol... (If that is the case then I should just leave RM50 in each of these savings account that I no longer use...) --- |
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Oct 10 2015, 07:34 PM
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#3
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Junior Member
118 posts Joined: Oct 2011 From: Black Mesa
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QUOTE(Ramjade @ Oct 10 2015, 07:30 PM) For what? Most account charges you rm8/year. Just close if not using. Unless your account is the type no need to pay rm8/year Really didn't know about that... I'll check with the bank & then see to it.Thanks. --- |
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Oct 11 2015, 05:36 PM
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#4
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Junior Member
118 posts Joined: Oct 2011 From: Black Mesa
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QUOTE(supersound @ Oct 11 2015, 04:37 PM) Not all banks are protected, MBSB are 1 o them. But the FD rate are among the highest What bank is MBSB...? MBSB owned by EPF, so it won't collapse easily  --- |
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Oct 12 2015, 05:28 PM
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#5
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Junior Member
118 posts Joined: Oct 2011 From: Black Mesa
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Hi, wanna ask another noob question...;
If I want to close a savings account, do I need to return to that particular branch that I originally opened the account in, or can I just go to any branch location to do it...? --- |
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Oct 15 2015, 08:28 PM
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#6
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Junior Member
118 posts Joined: Oct 2011 From: Black Mesa
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QUOTE(kEITh_22b @ Oct 12 2015, 05:28 PM) Hi, wanna ask another noob question...; In answer to my own noob question...;If I want to close a savings account, do I need to return to that particular branch that I originally opened the account in, or can I just go to any branch location to do it...? --- I drove to the nearest HL bank to close my account, so they told me that I need to go back to my home branch to do it... So I had to drive all the way to Jalan Ipoh to my home branch over there, but upon reaching there just now, I was told that I need to produce the passbook/bank account book (which is stored in another house of mine), so they couldn't close the account.  So next trip; it is about driving all the way back to my other house in PJ to get my bankbook, & then drive all the way back up to Jalan Ipoh to my HL bank branch, & then yet another long distance back to my current home in Cheras once again... Gonna be fun yeah...  --- This post has been edited by kEITh_22b: Oct 15 2015, 08:29 PM |
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Oct 16 2015, 06:29 PM
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#7
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Junior Member
118 posts Joined: Oct 2011 From: Black Mesa
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QUOTE(cklimm @ Oct 16 2015, 07:34 AM) why you want to close it in the 1st place? just dried out the balance inside, then let it auto closed due to inactivities lar The bank ATM doesn't allow me to withdraw the last RM20 (perhaps they are in wait to absorb it by end of this month because it's due date for annual fee).QUOTE(cklimm @ Oct 16 2015, 09:18 AM) even if minimum balance of RM 10, it is still lower than consumption of time, fuel, tolls, parking, saman (if unlucky) This I agree...  (+ getting stuck in traffic jam, car maintenance/wear & tear too...)Then your car could also be towed away by the police (eg. for parking along roads @ Berjaya Times Square for instance).  Not economical & cost effective from the financial/investment standpoint. --- This post has been edited by kEITh_22b: Oct 16 2015, 06:30 PM |
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