Just my luck, got my new AS1M account opened around noon today at agent bank but can't print out immediately . Got the print out about 1 hour later after the teller made several calls to PNB HQ. Guess the new system(passbook-less) is slow but not down.

Which 3 of the FP can be topped up via online? What is the online URL?

Many thanks for the tips from the veterans here. Tq, tq, tq.

Got to open 2(AS1M and ASM) out of 3 FP today. Latest being ASM around 3.40pm at agent bank.

Yes, ASW is hard to get. The teller tried it twice(once in the morning and afternoon). He told me no funds in the afternoon either to discourage me or lazy to do it but I told him I got another queue ticket and relented.

Always be persistent and get another ticket as it lends legitimacy for you to be there.
"Audentis fortuna iuvat (latin) - Fortune favours the Bold" ~ Virgil, The Aeneid

This post has been edited by sijee: Jun 29 2017, 05:03 PM

On the contrary, it is easy to open ASM and AS1M as I did on 29 June. Have been trying to open ASW until yesterday but not able to.

Managed to top up ASM RM100 today just to test myASNB portal.

Had 3 frustrating days logging in after first log-in attempt because of password problem. There is a timed 1-hour Lock Out after keying in wrong 3 password consecutively.

Just wondering why some forummers here are seeking to top up on ASW when ASM and AS1M funds are easily available. Is there a special reason(s) for wanting ASW?

Where can we find more information for Survivors and Beneficiaries of fund holders? Is that found in the MyASNB portal?

MGM, thanks for the heads up.

http://www.asnb.com.my/v3_/asnbv2_3service...rituntutanharta

Managed to top up for ASW.

Happy with new portal upgrade with no more sms TAC and the need to switch from screen to phone and back. Captcha verification speeds things up.

May be post-GST, Malaysian are living from hand to mouth and their deteriorating financial position has not bottom out. I got a feeling many city dwellers have fallen into "urban poor" category and are supplementing their living expenses by drawing into their savings.

https://www.bloomberg.com/news/articles/201...sinister-crunch

From TheStar today: http://www.thestar.com.my/business/busines...BwMABhEuyY6D.99

"In the past five years, however, deposit growth has slowed to 9 percent, while loans are still expanding at 11 percent. That gap of 2 percentage points is pushing up funding costs.

Large Malaysian banks -- Maybank, Public Bank Bhd., CIMB and Hong Leong Bank Bhd. -- are now earning a net interest spread of less than 2 percent, which puts them in the ranks of emerging Asia's least profitable lenders.

With deposits getting squeezed, listed Malaysian banks and their subsidiaries have raised $6.4 billion from fixed-income markets this year, the most since 2014. Less than half of it is in ringgit, though.

The growing reliance on foreign-currency debt is disadvantageous. Borrowing three-month money in the local interbank market, and using those funds to buy dollars for the same period, costs Malaysia's lenders 1.9 percent, an 60-basis-point spread over Libor. "

This post has been edited by sijee: Aug 11 2017, 06:11 PM

Got this from the FB comment section of The Star Online:
https://www.facebook.com/TheStarOnline/post...154336360532255

- 20% Uzbekistan : 16.92% (After Tax)
- 15% Iran : 14.55% (After Tax)
- 18.5% Ukraine : 14.29% (After Tax)
- 17.9% Argentina : 11.13% (After Tax)

Besides the "too good to be true" and the forex risks, anyone to share any experience or comment?

The turning point was about 2 years ago when it was proudly proclaimed that Japan joined The European Central Bank, Denmark, Sweden and Switzerland offering negative interest rate for bank deposits. Fast forward until today, lesser and lesser ppl would want to save their money in the banking system with a low interest rates that cannot keep up with inflation and more switching to cryptocurrencies(digital or virtual) outside the control of central banks and other alternative assets. The sputtering MYR does not help at all...


http://www.express.co.uk/news/world/839565...omic-powerhouse

...the issue also highlighted the problems faced by banks — which have been highly critical of a central bank policy that they say erodes their profit margins — in trying to pass on the negative rates to their customers.
Fewer than one in 10 of the companies that were threatened with a negative interest rate on their deposits ended up paying, with many shifting cash into other financial assets or changing their bank.

A bit about PNB and ASx dividend policy...
http://www.theedgemarkets.com/article/pnb-...ed-merger-talks

The agent's priorities are to sell their own banking products(FD, Loans, CASA, unit trusts, insurance, etc) with maximum profits from clients. Agents servicing ASx is a double edged sword as it will attract more clientele but ASx actually compete with the first 4 banking products. Being lesser in priority and for non-ASB clients comes ASx VP and FP in that order.

It is more challenging for the banks especially now in a depressed economy with negative consumer confidence looking for higher yields for their unused funds. Bank deposits are lagging 2% behind loan growth...maybe a ticking time bomb in 5 years from now.

That being said, the "buying OTC, selling" poser maybe to confuse and discourage new ASx clients. Listen to the sifus here for "more bang for your bucks".

This post has been edited by sijee: Aug 27 2017, 02:50 PM

1) How do a Malaysian open a simple CA or SA account in SG?

2) What are the fees to maintain the SG account(not premier account)? ...especially at the initial stage when you have little knowledge of investable products in SG.

Please share your thoughts or experiences. TIA

Thanks for the kind offer. I would like to open a basic SG account without going to SG to keep it simple.

Thanks for the heads up. Found the Maybank isavvy "HOW TO APPLY ONLINE" link below. Looks simple enough to follow.
http://info.maybank2u.com.sg/personal/depo...ount.aspx#apply

Also read the part about FEES AND CHARGES and FAQs at the bottom.

Good news for FD kakis..

[Fitch expects Malaysian banks to offer higher rates on longer-term FDs]

http://www.thestar.com.my/business/busines...onger-term-fds/

This post has been edited by sijee: Oct 4 2017, 08:33 PM

Received ASW Penyata via email at 6.55am today.

The trick to getting helpful staff at agent banks is to go to a bank branch when there are very few customers on queue and the bank staff are *Not Pressed* for time to serve the short queue. So try to avoid lunch time and "pay day" periods.

IMHO, my favourite place is BSN branches that serve many elderly unkers/aunties/pensioners but go after lunch when these elderlies avoid coming out in the hot afternoon weather. These branches are overseen by a Regional BSN Officer(specially for PNB-ASB). She covers PJ and Shah Alam areas. I made 4 trips over 3 days and managed to open all 3 accounts.

This post has been edited by sijee: Oct 17 2017, 07:35 AM

Since we are at the topic of interest rate, what is the pros and cons of diversifing into FDs in Indonesia as the BNI bank FD rate is at 6.5% p.a.(see link below).

https://indonesia.deposits.org/time-deposits.html

Is there another LYN forum to address this topic?