now RHB is the best offer ?!?!??!

nope, 1 sept onwards

If I have conventional basic savings account and then open RHB Smart Account Islamic, will RHB Bank send Islamic debit card to me via post?

nope, go branch to apply debit card

Good, I prefer such outcome. I would not want RHB to send me via post a debit card which I do not intend to use.

As long as I transfer RM 2000 once a month via instant fund transfer to RHB Smart Account, it should be easy for me to get 1.85% savings interest.

Thank you very much for your clarification.

For RHB Smart Account, do we get eStatement for this current account once a month, or once every 3 months?

I have a very frustrating experience with RHB recently. I applied for RHB Smart Account online and received the e-mail and SMS asking me to activate it at the branch. According to the e-mail, I only need to bring my IC and RM1,000. It was supposed to be a straightforward process.

I went and was told I cannot activate it because I do not have supporting documents like payslip etc. The e-mail did not mention anything about supporting documents. Since I am unemployed, I could not provide that. I asked if unemployed is not allowed to open an account and was told that is not the case but must have supporting documents. I asked what documents are needed then, but was asked what I can provide instead. I was willing to comply but did not get any definite answer on what supporting documents are needed. Why do I even need to provide my payslip etc. in the first place? I am not applying for a credit card here. Is that really RHB's SOP for account opening?

I was later told that I cannot open the account if my purpose is for savings because I already have accounts with other banks. I was asked why I want to open account with RHB when I already have accounts with other banks. I told her upfront is because of the higher interest. She said in that case, I cannot open the account then. I can only open the account if I am willing to open an FD or investment account with them. Then, they can use the FD cert or investment account as a 'supporting document'. How ridiculous is that? Why force people to open other accounts just to activate the Smart Account?

Why ask me to go to branch if they cannot open the account for me? Everything was already there with account no., internet banking login and all the staff needed to do was just activate it. I believe she was just lazy and came up with all these stupid excuses. If RHB's staff continue with this type of practice, they will be losing a lot of potential customers. Even with good rates and promotions, they would not be able to increase their market share significantly. It's like when potential customers want to open an account, they ask them to go to their competitor or stay with their competitor instead. With the emergence of digital banks, RHB could become obsolete if they don't adapt quick enough. I rather deal with digital channels than branch staff. At least, no double standard and everything is transparent and upfront.

certain branch like to come out with their own rules. definitely not one of the requirements. u can either bring it up to bank negara or go to another branch.

Which bank have the best savings account right now? (in terms of interest given)

I had a similar experience as well last month, which in the end I brought my payslip over the next day.
The first day when I mentioned I can place an FD, they even asked me to bring the bank draft from other banks first

I thought we can only open account at the nearest branch to our IC address?

Yes but you can provide other supporting document such as employment letter or utilities bill of your current residential address if it does not match with the address printed on your NRIC.

For RHB Smart Account, the Deposit Interest of 1.80% p.a. and Pay Interest of 0.5% p.a. are calculated, based on daily account balance calculated from 1st till last day of the month, or from 15th till 14th of next month?

Thank you for your information.

Calendar month

I also go to Sri Petaling branch to activate my account, no problem doing it. In fact, they even allow me to do it at Sri Petaling branch when i picked KLCC branch to open. I was asked the same questions you got and I really answered them that it is due to the highest interest rate in the market. Within 2 hours I got my debit card already.

I agree with !@#$%^. Every now and then you will come across bank branches (same bank) that have weird rules and they usually are unique only to that particular branch. We definitely do not need to come up with proof of employment or university admission letter when opening a savings account.

A while ago, someone complained the same about Hong Leong Bank. The officer asked him to produce employment letter or payslip. He just wanted to open a savings account. In the end he walked in to another Hong Leong Bank branch and managed to open a savings account right away with just his IC.

Likewise, Citibank HQ in KL asked for payslips if you want to open a savings account. Citibank in Georgetown doesn't have such requirement.

Someone did mention before that it is not profitable for banks to open savings accounts.

As such, some bank branches may choose to impose such weird and unnecessary requirements, to deter the less knowledgeable customers from opening savings accounts.

SA and FD are regulated by BNM and NIM is tightly tied to OPR trend.
BSA & BCA are must have products imposed by BNM to offer basic banking services to the general public.

That's why banks normally like to up sell its potential customers (especially those in privileged banking segment) with wealth management products inclusive but not restricted to various insurance and unit trusts.

This post has been edited by GrumpyNooby: Sep 15 2020, 10:29 PM

Seems ridiculous. If someone wants to open an account means they want to deposit money into the account. If a customer wants to give you cash then why say no

To comply with AMLATFA, the source of fund especially cash is very crucial.
Banks nowadays won't really want to accept heavy deposit of untraceable cash.

That's why during open accounting stage, the basic screening test is to ensure that the account that you open at that particular branch has real purpose; not for suspicious activities inclusive not restricted to money laundering. The basic test is to provide proof that you're living or working nearby.

If you're opening privileged banking account service, they'll ask more questions like an interview session.

This post has been edited by GrumpyNooby: Sep 15 2020, 10:37 PM