ok tq

ocbc 360 account
1) deposit rm500
2) spend 500 with ocbc card
3) pay 3 bills, does send money to another saving account counts?

For that amount, why not put in Alliance SavePlus Account? Interest at 3.5% p.a.

50K above, don't need until 500k.

aiya, 50k only. sorry type wrong

nowadays why opening a BSA needs income document, e.g. payslip in addition to IC? Is it new rule by BNM?

hawker or self small business not payslips how?

Which bank?

HSBC
Is it new rule by BNM for anti money laundering?

Foreign banks are very strict with account opening even for BSA.
They're scared of money laundering.

This post has been edited by CardNoob: Aug 1 2019, 01:34 PM

did you write your employment details in the application form?
if yes,...most probably they wanted to confirm your stated details.
or do you already have a BSA with another bank?

btw, read this from BNM

Effective 1 February 2005, all commercial banks and finance companies 1 will offer a basic savings account (BSA) and a basic current account (BCA), with no overdraft facility, to all individual Malaysians and permanent residents.
http://www.bnm.gov.my/index.php?ch=en_pres...&ac=950&lang=en

All Malaysian citizens and permanent residents shall be entitled to one basic savings account (BSA) and/or one BSA based on Islamic principles per DFI.
http://www.bnm.gov.my/index.php?rp=guideli...ic_banking_serv

This post has been edited by MUM: Aug 1 2019, 01:40 PM

Hmm, the guidelines does not mention any income documents right?
If I know I need to bring my payslips, I would better apply his credit card sekaligus.

proof of income not listed....maybe to suits those with no income or no income details like students and hawkers or petty traders for examples

thus if you had mentioned your employment details, then maybe they just want to confirm....

Just an opinion, forummers, if possible,..... learn investments,... the world to moving to very low interest rates,....

Some countries have even touched negative interest rates.

Hansel, this is for us who stay at MY mahh....

We also need emergency fund mahh.

Investment not liquid compare to saving account.

The funds being discussed in this thread does not pertain to emergency funds only. Set aside emergency funds,.. then plan well for the rest to grow one's wealth.

Well not sure about others.

I treat this type of account as emergency fund. 6 months of spending.

Others in investment already.

As long as you can liquid the fund within a day, it should be treated as emergency.

FD can also be treated as emergency fund but you have to forego the interest for pre-mature upliftment.

Then your actions are right !

Different people has different needs. Some of us are in the 60s or 70s - top priority is not to lose the pension money. Not even the 5% service fee which can be a lot. And investment in mutual funds, gold. etc take years. FD is a "sure cannot lose money" type, can withdraw for own use anytime.