this is what i thought. by reducing the cost... only increases their profit margin... not reducing their selling price and benefit us...

actually what BNM doing are pressuring the merchant to lower their price as merchant usually pass the interchange fees back to consumers..
this is a good move from BNM but knowing how businessman doing business in Malaysia, no way they going to lower their price...
implementation of 6% GST on April are a good example..

so indirectly, we get lesser benefit from bank, merchant still selling same price, bank nothing to lose..
consumer are the bigger loser here

Yes exactly. This is already proven to be true when we see our petrol price reducing but yet everyday item and costs still remains at the price when petrol was at its highest. Why does BNM think it's going to be any different with all these retail merchants.

yup, once go up, never go down

since the interchange fee is capped at 1.1% currently, how come the computer shop, electrical shop still want to charge me extra 2.5% when i want to pay by credit card

my point of view is that BNM is trying to discourage you to bring cash out, and use debit card instead.

i think banks do this as a knee jerk reaction to protect their profits first.

in the long run, they will start to introduce new benefits as they face competition from other banks when cashless payment become widely available.

This post has been edited by confuzan: Jun 26 2015, 03:41 PM

looks like other cards also gonna start having the same effect.. hlb wise.. when is gonna b yr turn ?

yup, no merchant will price it down, they already mark up the price to show they are fair to cash and card

u can make a formal complaint to BNM about this

I really don't like to use debit cards...

suddenly, UOB One's features doesnt seem bad after all

but at the end, i pay by cash
no proof now...

if for debit is use by other ppl, will bank return the money instead?
i don think so since it is not their money

i dont like use credit card
i prefer paypass and paywave..
sadly, not widely acceptable in Malaysia..
hopefully we can see more to come in future..

it seems like maybank bring down the "effective 1st august" statement on the site now.

but the "wekend 5% dining" new feature still there

the statement come back already lol.

seems like mayabank is looking on customer response

means "with immediate effect"? lol...

Ya lo...

I prefer to owe bank and enjoy 20 days free interest.
Now straight deduct from my bank account, I heartache you know.

the lastest one they totally remove the statement already. so its back to usual? but on the pop up still show as 5% dining only

i refer to the full statement of removing 5% cash back
feel like everytime i refresh the page is different.

dunno they really want to put that statemetn or not