Sigh, its quite the hassle to take when you have another bank account and yet the Debit card (of all kinds) does not allow you link directly to it (unless you are with the same bank that offers you the card itself).

I'm with RHB bank and I'm waiting for the time when it'll have its own official Debit card; since I'm not a big believer in credit cards.

I also wondered the same as well. But the website for Standard Chartered said there is no Minimum Deposit for the e$aver Savings Account.

However, since I went to see the Financial Consultant at the StanChart Bank in LOT10 (its near where I work), she explained to me that there is no Minimum Deposit; but at least start off the account with some money so that you can 'finance' your debit card purchases and the annual fee for the card itself. At the same time, the account earns an annual interest of max 3.75% (depends on the level of deposits)

Of course, I've opened the account, got the ATM/Debit MasterCard on the same day, dumped RM500 into the account. I even tested the Debit MasterCard and it works!! Operates the same way as a normal credit card only that the money is paid upfront deducted directly from your savings account.

^^ Actually I didn't need to pay anything for the card when I start joining up.

But you got to have some money in the bank account so that each end of year the Bank deducts RM8 as an annual fee for your ATM/Debit MasterCard.

Also, there is no minimum deposit for the e$aver account; something as low as RM1 is fine. But you'll be putting in more money than that right?

If you already have another bank account? Don't worry, this StanChart account has MEPS Inter Bank Giro so that you can transfer money electronically from your other bank accounts, be it MayBank, CIMB, RHB, or AMBank.

Check out their website http://www.standardchartered.com.my to find out about their nearest branches. Talk to their Financial Consultants and they'll brief you the information.

Check this rate table from the StandChart e$aver account

Oh, the bonus interest is a promotional period in mid 2007 to end of 2007.


Hesham: Isn't the Automatic Sweep feature for the PB Visa Electron a nominated amount to be credited into your Card Account each day/month?

You can set the amount you want to be 'sweeped' from your PB account to the Card Account.

Finally Maybank introduces the Visa endorsed Debit facility on its card. Considering that some other banks are introducing Visa or MasterCard Debit for the convenience of customers (Public Bank, Standard Chartered, Affin Bank, EON Bank), the introductory move by the largest consumer bank in Malaysia will spread the trend of Debit cards in Malaysia.

Look at the news reports of poor credit spending in Malaysia? People prefer to accumulate the spending in a spree, then end of the month huge bills to pay back to the bank. With Debit, at least I can control my spending and at the same time don't need to worry if I have enough paper cash in my wallet and then need to go to the ATM to withdraw money.

Of course the Cherry motif on the Maybank Visa Debitcard looks too cutesy for me. I'll stick to my Standard Chartered e$aver Debit MasterCard.

Great list. Now can this be stickied to the first page?

Actually only one card I know has the e-debit facility via BANKCARD/MEPS most efficient usage and that would be the current Maybankard ATM.

The thing is the enforcement of e-debit nationwide for merchants is slow compared to another country say Australia (where their e-debit facility a.k.a EFTPOS [Electronic Funds Transfer At Point Of Sale] is 60% effective and that covers a lot of merchants/retailers).

So having a VISA or a MasterCard logo slapped onto the ATM cards is a significant boon for consumer bankers. Good for Maybank to further advance the trend and hopefully other banks will follow suit.


PS: RHB has a Prepaid MasterCard of its own too. Its called RHB e-Cash Plus Prepaid MasterCard.

^^ May I further add on that the debit facility is more cash controlled than a credit card; where the propensity to further spend is fueled by the spend now pay later mentality.

And individuals without the proper self control will go overboard with their credit card spending. Thus all the bad debts accumulated till they are overwhelmed.

^^ Refer to Page 17 for the advertisement pasted by a poster here or go to the Maybank website where all the information is available.

^^ Just call the bank officers and they'll sort it out for you in no time. I like the Standard Chartered financial officers personal service...although you have to wait long in line sometimes.

^^ The one everyone's been talking about is the New Maybankard Visa Debit. RHB eCash Plus One card is actually a prepaid MasterCard which can also act as a Debit card.

However it is not connected to a current or savings account so you have to reload value up to RM10,000 inside the card to make purchases.

Exactly, the withholding of RM150 is made when you use your debit card at the ISLAND PUMP and not over the counter.

Just got RM17.50 rebate back on my Standard Chartered Debit Mastercard for pumping fuel!! Woohoo!!

Here's the thing, I opened the e$aver's account on the spot and I instantly got a non-personalized card (doesn't have my name on it, only card number).

The financial consultant told me that if I want to get my name personalized on it, the bank will incur a RM8 card charge for the change. And that will take at least 2 weeks then it'll be sent to your home address.

^^ Just go get a replacement card, I've been using my Maybank Visa Debit card to pay for petrol at Petronas and it always works.

A much more higher authority of debit card (and spending limit) would be Privilege/Priority Banking customers; both Alliance Bank and Standard Chartered Bank has that. Even Maybank too however you must be an account holder of their Premier Account Categories.

However, there is a catch. Subscription to the card requires your deposit into the Alliance Bank Hybrid Account (specially for the Debit Mastercard the bank issues) of a minimum RM20,000. The standard non Platinum debit card from Alliance Bank is also available. That requires only a deposit of RM500 at minimum.

The difference between both Platinum and Standard is that Platinum gives a 0.5% higher cash rebate than Standard (which is only 1%). On the other hand, Alliance Bank Priority Banking member's Debit Mastercard gives the highest cash rebate for all debit cards which stands at 2%.

The bad thing I don't really enjoy about Maybank Debit Cards is that every RM3 = 1 treatspoints. A rip off from what they give to RM1=1 treatspoints for Credit Card holders. Also there is no cash rebate too.

Check out their website Alliance Bank Malaysia and Maybank for more info.

This post has been edited by FayeChan: Oct 22 2009, 12:51 AM