i applied this, yesterday, it showed up in my AM online page,
the card is on the way

Oh! Thanks Miles. Learning new things everyday!

Hi fellow Lowyat members!

Marscoco from the TRUE team here!

A big thank you to all of you who have expressed your interest in the TRUE products. And a special thank you to the moderator, MilesandMore for featuring our product on its own thread!

We’ve acknowledged your feedback regarding the definitions of our products and will be working on making the banking kit easier to understand. If you need more information or knowledge about our products, please feel free to PM me, or call our dedicated contact centre at (03) 2178-8999.
Thanks again!

Welcome to Lowyat!

Welcome to the board! It is good to have a staff member here and I hope you will help out in answering all the queries about this banking product whenever necessary.

Woah, was browsing through their website and found some new customer deals here

marscoco

Thanks for your contribution to this forum.

Is it applicable for TRUE Savers Account that the interest of this saving account is computed on a daily basis and credited monthly into the account?

MilesAndMore, can you name some of the relevant saving accounts? As far I know, the interest for Maybank M2U Savers and CIMB saving accounts are credited monthly, at the end of each month.


This post has been edited by alvinkhorfire: Jun 10 2015, 10:16 PM

Maybank Kawanku Savings Account, Maybank Islamic Wadiah Savings Account-i, Public Bank Plus Savings Account, Public Bank SaveLink Account, RHB Bank MaxSave Account, RHB Bank Basic Savings Account, HSBC Basic Savings Account, HSBC Amanah Basic Savings Account-i and many more.

Hi @alvinkhorfire,

Yes, you are right. The interest is calculated on a daily basis and the accumulated interest (based on the days you keep the balance in your account) will then be credited into your TRUE Savers Account on the last day of the month.

Was informed True Debit MasterCard is not subject to RM8 annual fees

Indeed this card is annual fee free.

marscoco

Previous posters have asked this before.

If there is no deposit being made to TRUE Savers Account and the account balance is maintained everyday throughout a month, will the 2.8 % interest be given based on that account balance?

Second question: After opening the account, what is the minimum balance that needs to be maintained for True Transact Account? Obviously, we need to maximize the amount in True Savers Account.

This post has been edited by kart: Jul 1 2015, 05:36 PM

question 1 partially answered in FAQ but concur, what if no deposit at all

17: Do I need to make a fixed amount of deposit to TRUE Savers Account in order to enjoy the 2.8% flat interest rate?
 No. You can enjoy the flat interest rate of 2.8% p.a. when you deposit your money (any amount) into the TRUE Savers Account.

This post has been edited by cybpsych: Jul 1 2015, 05:45 PM

Received True interest today, worth couple of Starbucks Frappes

Hi @kart,

In reference to your first question, the 2.8% interest will be applied to your current account balance.

There's no minimum amount that you need to deposit in the TRUE Transact Account. I'd recommend using this account if you like to pay bills online or transfer money using IBG (interbank giro) since we don't charge the RM0.11 transaction fee.

Hope that helps!

Is this a card or an saving account? How to apply? I already have AMBank saving account. Can I open this account and close my saving account? Will I still can access my FD account there?

There's two account here. So meaning one account have 2.8% and another don't have?

Hi @knight,

The TRUE Debit MasterCard is linked to two accounts:

TRUE Transact (which acts as your current account) + TRUE Savers (savings account)

The 2.8% interest rate applies to the TRUE Savers, not the TRUE Transact. Think of your TRUE Transact Account as the account where you do your daily transactions (ATM withdrawals, bill payments, etc).

Do you already have AmOnline? You can apply for the TRUE Debit MasterCard through AmOnline under 'Self Service', 'Online Application Forms'. You can also apply via truebyambank.com.

As for your third and last question, if you decide to close your current savings account and if the FD is linked to your current savings acccount, the FD will auto-renew. You can always change the FD profit payment instruction on AmOnline and select the account where you want to the profit to go into (TRUE Transact or TRUE Savers).

Hope that helps!

thanks. Very kind of you.

By the way, is it possible to have True acount without the ATM/DEbit card? If need then I have two ATM Card? Kind of confused. So looks like I still have to go to the bank at least to cancel one of the card. But before I do so, can I ask u if there's any annual fee for the cards? Or any other hidden charges? I can't really find the information on the websites.

Opening can be done online right without the need to visit a ambank branch? Don't have any ambank account at the moment?

The True debit MasterCard doesn't come with any annual fee. And this information can be found in their website.