1) True. Any money going out is counted as withdrawal except if done over the counter.

2)Sure or not? Ambank both Conventional and Islamic efd is 3.15%. Difference is one need min rm5k. The other need min rm1k only. The only bank I know which give higher rates for their Islamic eFD is maybank.

How did you set RM 0 limit for your debit card? By telling the officer who opened your saving account?

For me who opened the saving account few month ago, can I set RM 0 limit for my debit card, by calling Ambank Customer Service?

Thank you for your advice, fruitie.

Yes, the officer asked me how much I want to set for ATM withdrawal, I asked for the default amount and she told me RM 1k. I stick to default as I can change the limit at ATM.

Then, her next question is debit transaction which she told me the default limit is RM 500 and that's the lowest, I told her I prefer if I can set it to 0. She said she will try because she is not sure if this can be done. Then, she punched in something on her PC and told me it can be done, so she reconfirmed again if I want to set 0. I just said yes and done.

I'm not sure if you can call CS to change it, even my Maybank also done at branch. You can try, just a call away anyway.

You never use maybank eFD before after what sifu Gen-X taught how to earn extra money?

You can just let it renew on its own with interest add-on. Or be like me manually uplift FD upon maturity to truetransect (interest also credit to truetransect). After that, add extra money (including sens) + original amount + interest (including sens) into new Islamic efd. That way, next month, you will get higher returns. Your effective rate is >3.15% p.a

Alright got it.

OK la, my FD all not electronic format one. I will explore Maybank too since I still need to maintain my Savers account there. Headache with so many savers accounts.

Planning to close m2savers. But thinking against it as with m2savers I have unlimited atm withdrawal and FOC maybank account. eFD is useless and give the min rates. Usually I just put eFD until I can collect the money into larger sum and then one shot dump into somewhere.

Oops. Sorry for overlooking. If 1-2 months, then both give the same rate. If 3 months and above, then islamic eFD gives a higher interest rate

I just transferred some fund from Maybank to True Savers account while making sure I have enough fund to pay for my CC from Maybank (gonna due in few days time) and earning interest from Maybank Savers account.

Though I understand that I can get 3xfree withdrawals/transfer from True Savers but I find it troublesome for me as I have saved all my CC in M2U as my favourites. I wanted to close my Maybank Savers account while maintaining just True Savers but before that I will need to work out the pros and cons of me doing it. Will do a comparison when I'm free.

I guess for now my True Savers account remains as the account which I will chuck in my extras every month to earn interest from Savers and eFD.

TrueSave gives 2.8% int, eFD gives 3.15%, putting rm5000, the diff in returns for 1 month is only rm1.46? Fruitie your effort at Sams gives better returns la.

Good point, I actually calculated last night and like the return is very little.
Moreover I will need to sacrifice one withdrawal from True Saver to True Transact just for eFD. I will skip.

Combine that with SAM, returns of more than what eFD can give.

Combine with HLB wise + true savers + eFD gives you the best returns.

Yes life is already stressful enough, not worth to keep track of withdrawal counts n if accidently exceeded 3x n incur high withdrawal cost.

I will skip it.

Exactly not like I have 50k every month to put in.

How is this achievable?

fruitie
A trick I learned from sifu Gen-X with upgrades on my own. He promote m2savers but truesavers and Ambank Islamic efd is much more practical for those who spent less than rm5k/month

1. Know how much you spend per month (very important)
2. Allocate that amount.
3. Apply for HLB wise and truesavers.
4. Spend using HLB wise on/after statement date (do not exceed cashback limit)
5. Now you have about 30 days before the next statement date.
6. Dump whatever amount you will spend that month into 1 month Ambank Islamic efd (if >=30 days). If <30 days, dump into truesavers.
7. Upon statement date, uplift the eFD or use truesavers to pay it off (you can choose the option in truetransect to pay the card via IBG so it's FOC )
8. Whatever balance, interest earned put into 1 month Ambank Islamic eFD first together with next month money.
9. Before the next due date comes, the 1 month eFD would have matured. Just uplift and put into truesavers so it will continue earning 2.8%
10. Rinse and repeat

That way, you will get the 10% CB from HLB + eFD interest +/ truesavers interest.

Original method by sifu Gen-X is use m2savers and maybank eFD. To put 1 month maybank eFD. One needs min rm5k compare to min rm1k of Ambank Islamic efd. M2savers only earned you 2.25% compare to truesavers which earns you 2.8%.

In the event you scared payment is late, just use IBFT. Ambank now have IBFT not like last time.

Hope whoever reads this find it useful.

Gen-X, an updated method of your way to earn more CB instead of using Maybank. Want to update your post or still going to promote Maybank? BTW, can you drop suggestion to your RM to ask them to up their M2Savers rate? Is not competitive anymore especially now the max some banks give is already 2.6%

This post has been edited by Ramjade: Jan 13 2016, 05:04 PM

It's OK la, not worth the effort for me. Time is very essential for me.

Looks like it is workable if u only have one Creditcard or many cards with the same due date. As for me I already have too many cards with diff due dates.

OT. Anyway, I read that you can ask the bank to set your statement date and bill date?

At least not for AEON & CIMB CC.