my mistake, just though need rm200 to open.
btw, what is the minimum balance require to keep?


According to the T&C, HLB mention 6 months. This is bad

I wonder what is the fee of rm10 mention here for dormant account


This post has been edited by edwardccg: Mar 7 2013, 12:55 PM

Don't know about that.


It's indeed 6-month for this account



RM10 will be debited from your account when your account goes dormant. Your account is considered dormant when there is no deposit, withdrawal or funds transfer made within 6 months.

By the way, the interest earned is credited on a monthly basis.

Looks like there're a lot of T&C for Mach acct, still considering it as the FD rate is good, not sure worth the trouble after that.

Hope someone can put a summary abt Mach acct.

I see, It is mention in the mach FD T&C, so my following post is incorrect.

Just to double confirm, if i apply for the mach FD for 1 year tenure, the interest is credited month to my money box saving account?
for rm10k, it will credit rm33.33 (rm400/12) to my money box account monthly?

so there is no worry about dormant account

Erm... If you refer to my last post, all the replies there were about the Mach Money Box Account, not Mach FD.

For 12-month Mach FD, the interest will be credited at the end of your FD.

This post has been edited by MilesAndMore: Mar 7 2013, 01:32 PM

Mach Bank just called me and to let me know about their FD promo has
extended to the end of April. We need to get these 2 products to open
FD account with Mach:

(1) Need minimum RM 50 to open the saving account, can close it after one year

(2) Need a debit card, will charge RM 8 annually, can close it after one year

I feel the same way..

Anybody received free gifts when opened FD account with Mach?

I understand about saving account interest is calculate daily and credit monthly

But when i check on the Mach FD T&C, i found out this things.
how should i understand this line? the T&C is really confusing.
PS:this is adapt from Mach FD T&C, not the promotion T&C



However, the promotion T&C mention no interest will be paid in less than 3 month. this is contradict with the mach FD T&C




For my understanding, it is impossible to pay interest monthly for FD.

I was told interest will be credited monthly into money box. Next month I will check the amount got credited.

Bro,

IMO, the clause 6 & 7 is interlink. Try read between the line for better understanding.
My understanding is:-

Clause 7 means if FD placement that meant for 12months tenure, owner surrender with less than 3months, the interest that credited monthly will deduct from principal during account close.

Thanks for the clarification!

This post has been edited by yenforyen: Mar 7 2013, 03:32 PM

I didn't read carefully

thanks for clearing my doubt

as long as the interest is credit monthly, then dun need to worry about dormant account already.

I was wrong about the 12-month Mach FD. According to their T&C, the interest earned will indeed be credited into your Mach Money Box account every month.

Confirm for MACH FD you will get the interest in your Money Box Deposit Account monthly. Just got my 1st month interest today

wow i didn't know there is a RM20 fee for closing the account

So the fixed cost is RM36



This post has been edited by bearbear: Mar 7 2013, 04:53 PM

thanks for the confirm

however, the rm20 account closure fee is for those who close account within 6 months from account opening

btw, just for double confirm, the method which @cactuscch mention is ok? I am thinking of open money box this weekend, and take banker cheque to deposit in money box account for FD placement online.

This post has been edited by edwardccg: Mar 7 2013, 05:02 PM

If you already have an MACH FD account (Must get the personnel to help) then i don't see a problem.

Mine - i pass the banker's cheque to the staff - they help me to create my MACH FD account (Not Money Box Acc.) and direct deposit into my account. Happen around 1pm

By 4pm i can see the amount in my account online.

The guideline indicated on their website for e-placement FD. However, due to online phising scam, I prefer to walk in to deposit the cheque. By doing this more comfortable for me as involve huge sum. I submit the cheque to the officer, ask for a photostate of the banker cheque and ask for acknowledge receipts. I will be going again this weekends to top up the FD....

Where did you see this ? There is no mention of this in the Fee Disclosure Table.

from here, or do you mean they put the "current" account, so is not applicable for the "money box" since money box is not a "current" account?

if that so why do they place under money box deposit account fee disclosure?

https://www.machbyhongleongbank.com/fee-dis...#/tab/money-box