If they had such good reporting systems, why didn't they call you instead of wait for you to call them? also maybe you are young, Your manday rate (as you call it) gets more as you get older, everything that is in demand, gets more expensive when there is less of it. I think it is the same with life, when you are young you don't think 5 minutes is worth a lot, but when you know you are likely to be dead in 30 years, all of a sudden you don't want to waste five minutes

Or maybe you enjoy getting them to give you stuff.. so it's like "let's see how many things I can get them to give me" lol like you said their systems are pretty good, they know if you put in a lot of money, or if you take out a lot of money.. you won't even have to call them they will call you

You want different things from your bank (ie. free gifts etc.) I want to save time, so I have a bank with a pretty good online system. I actually did switch three FDs in one minute lol anyway I just realized that, all that running around is really inconvenient and troublesome. I can't stand to see the look on the teller's face like, "why are you giving me so much work, do you know how busy I am already" lol so I don't like to trouble people for gifts and whatnot, they are quite busy already but if they want to give them.. all gladly accepted of course

I'd rather save 4 minutes of my time, and 4 minutes of the customer service's time.. you can see how busy they are every time you go to the bank

Actually we'd probably need at least 2mil, but if he can do it with 1mil, so much the better for him

Actually online IBG is cheaper

None of this changes the fact that it's cheaper and yes you can transfer 50K or whatever amount in a day. just have to tell them to increase the limit for one day

Also he wasn't talking about FDs he was talking about money, which i suppose most people would assume to be in a CASA

This post has been edited by wodenus: Mar 21 2014, 09:45 PM

Yea the online limit is 10K that you can change manually, but some banks if you want the limit to be higher they can change it at the counter. A bit troublesome but then he was talking about cost savings not convenience

Yup.. you can raise/lower the limit for one day same as you can raise/lower your credit card limit for one day

Bank draft.. but IBG is cheaper and faster if you have savings accounts at both banks

If you won't need to touch it for a long time you can try a unit trust, or a trust account at a brokerage. The disadvantage is that it's not PIDM insured. Unit trusts are of course serious long-term investments (maybe 10 years ) so if you know you won't need it for 10 years, that's a good place for it. Trust accounts are good if you want a high-interest, low-risk account. It's also not PIDM insured, but the interest is around 2.45-2.98% depending on the brokerage, daily interest credited monthly usually. Also if you want to withdraw any amount, there's no penalty. It's just like a savings account with a bit higher risk (it's not PIDM insured) but a lot higher interest (almost as much as 1-month FD.)

You can do monthly bank in of small amounts with either. There's also something called a PRS where you make an agreement with a brokerage, and they will deduct a certain amount every month and put it in a trust fund (sort of like a Private EPF scheme.)

This post has been edited by wodenus: Mar 25 2014, 11:26 PM

http://www.fundsupermart.com.my/main/prs/prsLandingPage.tpl

"better" is kind of relative


This post has been edited by wodenus: Mar 26 2014, 12:34 AM

PBB had one too.. went there, quite fun. Got practically the same thing, lots of stuff I don't use

Don't they have enough to do already let's see the tenure, and the terms first