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!

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.

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!

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!

Hi @knight,

When you apply for the TRUE accounts, you'll automatically get the debit card. You can ask the branch to link your current account to the TRUE Debit MasterCard or you can choose to have two separate ATM cards. There is no annual fee for the cards. Our fees and charges are listed in the website under the product information.

Hi @Ramjade, you can apply for the TRUE Accounts via truebyambank.com under 'Apply Now'. It will lead you to an online application form which you will need to fill out and submit. You will receive an acknowledgement email with details of when you should pick up your card. Since you are a new customer to AmBank, you will still need to visit the nearest AmBank branch to submit your biometrics and pick up your TRUE Debit MasterCard.

Hope that helps.

Hi @Ramjade,

Please take note that the 3% cash back only applies to the TRUE Visa Credit Card. There's no minimum spending and no limitations for online websites so that means you can go to a US website and make a purchase. Please read the TRUE Visa CC FAQ for more terms and conditions.

This post has been edited by marscoco: Jul 3 2015, 10:10 AM

Hi @Ramjade,

As you are a new-to-bank customer with AmBank, I suggest for you go to go the branch first to collect your card and submit your identification for biometric purposes. Reason being is that we give you your account numbers right there and then along with the debit card. Once you've picked up your TRUE Debit MasterCard, you can go ahead with transferring money to your TRUE Transact Account and TRUE Savers Account.

This post has been edited by marscoco: Jul 3 2015, 10:27 AM

Hi @cybpsych,

Let's go through your four scenarios one by one:

1) You can transfer from MBB IGB to TRUE Savers to enjoy the flat interest rate of 2.8%.
2) You get three free withdrawals from TRUE Savers per month. Any withdrawal after that will incur a RM5.30 (including GST) cost because TRUE Savers is meant for you to park your money in there to earn the high interest rate. Yes, any withdrawal from your TRUE Savers include transfers, bill payments, ATM cash withdrawal, etc.
3) Correct! Please use your TRUE Transact to pay bills or IBG tranfers for free.
4) If you want to transfer any money from your TRUE Savers to your TRUE Transact Account, you can do this but please note that your transfer from your TRUE Savers to the TRUE Transact is considered a withdrawal, hence the 3 free withdrawals per month. The fourth withdrawal and upwards will cost RM5.30 (including GST).

Hi @cybpsch,

Yes, you are right, any transfer from TRUE Transact into the TRUE Savers is free. So if you'd like, you can also transfer money from your other bank account into TRUE Transact -> TRUE Savers.

Hi @Pink Spider,

When you apply for the TRUE Debit MasterCard, you'll get the TRUE Transact Account and the TRUE Savers account but you can also ask the branch to link your current AmBank account to the TRUE Debit MasterCard. If you'd like, you can also choose to have two separate ATM cards (your old debit card linked to your current AmBank account, and the TRUE Debit MasterCard, which is linked to TRUE Transact and TRUE Savers).

Hi @livelysalmon,

Thank you for applying to the TRUE Debit MasterCard! Have you activated your card through the AmBank ATM first? I will send you a PM for more information so that I can determine the linkage issue.

Thanks!

Hi Pink Spider,

Just your signature will do!

Hi @Pink Spider,

Just to clarify, there are actually two choices for e-payment:

For MasterCard merchants, you just need to sign the slip upon the transaction.

If you're paying via MyDebit (or e-Debit) by MEPS, then you will need to input your pin.

Fret not! If ever you feel an un-authorised purchase has been made on your card, you can always contact our friendly dedicated service line at 03 2178-8999 for help.

Hope that helps!

Hi Nom-el,

Sorry to hear about that! I will send you a PM soon and will need you to revert to me with your details. Please check your inbox.

Hi @sunnie11,

Here's the calculation of the rate:

Amount x 2.80% / 365 days (x tenure) = Total RM payable interest

Say in August, you'll be placing the money from 1 August to 30 Aug:

RM5000 x 0.028/365 x 30 = RM11.50 interest paid

Hope that helps!

@cklimm is right, that's about the price of a frappe.

Hi @cybpsych,

Yes, the interest is calculated on a daily basis (amount based on closing day). The interest is credited into the TRUE Savers account on the last day of the month.

Please see number 18 in our TRUE Debit MasterCard FAQ.

This post has been edited by marscoco: Jul 9 2015, 05:45 PM

Hi @Ramjade,

1. Yes, you can visit any branch to pick up your card, if you've applied online, the application will be in our intranet.
2. You can print the acknowledgement receipt/email, if not just bring your IC and the branch will be able to pull up your application.
3. If you go to to the branch, you will usually be able to pick up the card within an hour. However, this depends on the respective branch's wait time and application volume.

Hi @alvinkhorfire, please refer to our Fees and Charges Page. If you transfer online, it will be free of charge.

This post has been edited by marscoco: Jul 27 2015, 09:22 AM

Hi @Ramjade,

Please refer to our FAQ for the TRUE Visa MasterCard. The 3% does not apply to online bill payments for utilites including TNB, telco, and TM, etc.