I opt for direct debit instruction (of RM 200) on the 8th of every month.

Roughly what is the time at which RM 200 is deducted from my Public Bank saving account?

Thanks for the information.

wil-i-am
Roughly what is the time? 9 am, 3 pm or any other time?

I need to know the approximate time at which RM 200 is deducted from my Public Bank saving account, for the direct debit to my Public Mutual funds.

Yesterday, I transferred RM 200 from my Maybank saving account to my Public Bank saving account, via Standing Instruction. I just realized that Standing Instruction is performed by Maybank automatically at 6 pm. So, RM 200 will be credited to Public Bank saving account next Monday (8 June 2015).

If Public Mutual attempts to deduct RM 200 from my Public Bank saving account (on next Monday) before RM 200 is credited from Maybank via Standing Instruction, it will fail as my Public Bank saving account currently does not have that money.

And, one of my Public Mutual funds is a closed fund, so it does not accept additional investment, other than the direct debit.

Thanks for offering your advice. Could you suggest several funds that can perform as good as, or better than Public Mutual funds? What I have now is PDSF, PRSF and PIOF.

If I invest in Public Mutual PRS fund around 4 pm on 27 December 2016 (using Public Mutual Online), can the PRS investment be processed in time by Public Mutual (shown as successful in Public Mutual Online) by 30 December 2016? In other word, the PRS investment is considered to be eligible for the tax relief for Year 2016.


Yes, a lot of you dislike Public Mutual funds, as Public Mutual fund performance is inferior, compared to the performance of other top unit trust providers. I fully respect your view, but it is kind of too late for me to understand the procedure of investing in other PRS unit trust providers.


Thank you for your information.

If the complaint unit of a bank is unable to resolve our issue, we may escalate the matter to Bank Negara Malaysia.


As such, whom should we approach, if Public Mutual is unable to resolve our issue? In other words, what is the regulatory authority of Public Mutual?


Securities Commission, perhaps?


Thank you for your information.

This post has been edited by kart: Dec 17 2023, 01:38 PM