Sifu sekalian, just read back few pages, here is my take, we should only invest in UT if we deposit extra 6k monthly into it, otherwise just deposit normally and earn 4%. Is that right?

3rd  Feb around 5pm went to QB SC booth to register the Account.
7th Feb 10am, received sms stated that account is ready, also for the online access. Now waiting them to send debit card to me.

But gopayz can't be top up using credit card.

FYI, for those who already have credit card with SCB and already have online account can opt for no debit card. it just that you can't withdraw money from ATM, you have to transfer to other bank if you wish to withdraw.

Not quite correct. You can opt of debit card if u already have cc.

U can withdraw from your credit card by selecting current account.

But please take note that. For PSA u won’t earn the 1.5% if u do not have a debit card.

And their debit card is free.

Not quite correct. You can opt of debit card if u already have cc.

U can withdraw from your credit card by selecting current account.

But please take note that. For PSA u won’t earn the 1.5% if u do not have a debit card.

And their debit card is free.

Not quite correct. You can opt of debit card if u already have cc.

U can withdraw from your credit card by selecting current account.

But please take note that. For PSA u won’t earn the 1.5% if u do not have a debit card.

And their debit card is free.

topup to bigpay, bigpay to gopayz

When i open the account in the branch on 5th Feb, the officer told me that debit card is not free, RM8 per annum and I will still get 1.5% as long as i spent 1k on credit card.

U sure the debit card is free? I've never heard of any bank offering that before. Even SCB

U mean u never heard any bank offers free debit card?

😂😂😂

Time to visit a branch with kind souls.

so here's my very simplified cons of Privilege$aver (versus Unit Trust):

(1) I would only keep very little liquid cash in my bank account, enough to keep me going for a few months. A bulk of my savings goes into my Unit Trust which although is riskier, would earn a much higher yield than 6% per anum if i keep for the long run.
(2) The sales charge of my unit trust investment is only 1.5%. investing with SC is 2.5%.
(3) I already have existing insurance & existing unit trust. doesn't make sense to get another set. this drops my potential Privilege returns by 2%. This strengthens point (1).
(4) I've used SC credit card before and had to cancel because the rewards and cashback pales in comparison to MBB cards. this drops my potential Privilege returns by another 1.5%. This strengthens point (1).
(5) One month FD rates in Malaysia is already at 2.7%. The basic Privilege savings is only at 2.5% (say i don't get the credit card and the investment/insurance).
(6) There is a life span on this offer up to 31st Jan 2021.

Anyway, i'm honestly open to rebuttals. I too am considering this Privilege$aver scheme because i like the idea of consolidating all my finances under just one bank. But there just isn't a good reason to do it with this Privilege$aver program.

U mean now u go without debit card?

Then u won’t earn the interest of 1.5%

Give it a try and see how it goes next month. 2nd of March would show already whether u have it or not.

My partner encounter exactly the same. The officer at first say no need etc. Then end up not getting.
U mean u never heard any bank offers free debit card?

😂😂😂

Time to visit a branch with kind souls.

it's quite weird that w/o debit card then can't get the 1.5%, because from the product page, this 1.5% is coming from the spend by using credit card not debit card.

Spend

Spend RM1,000 on your credit card to earn 1.5% p.a. bonus interest.

How to automate your savings?

Set-up Standing Instructions (IS) for bill payments.

Note: The eligible Bonus Interest of 1.5% p.a. for spend category is for maximum deposit balance of RM100,000 only. Eligible Customers must use Standard Chartered Bank Malaysia Berhad credit card.

All of the bank do offer free debit card for basic saving account, this is per BNM guideline. But since PSA is not basic saving account, thus the officer told me we need to pay RM8 is valid.

U sure the debit card is free? I've never heard of any bank offering that before. Even SCB

it's quite weird that w/o debit card then can't get the 1.5%, because from the product page, this 1.5% is coming from the spend by using credit card not debit card.

Spend

Spend RM1,000 on your credit card to earn 1.5% p.a. bonus interest.

How to automate your savings?

Set-up Standing Instructions (IS) for bill payments.

Note: The eligible Bonus Interest of 1.5% p.a. for spend category is for maximum deposit balance of RM100,000 only. Eligible Customers must use Standard Chartered Bank Malaysia Berhad credit card.

All of the bank do offer free debit card for basic saving account, this is per BNM guideline. But since PSA is not basic saving account, thus the officer told me we need to pay RM8 is valid.

My dear,

You can twist and argue however you want. I’m telling from experience. My partner manage to get back the interest as I’m a priority so the RM plays a role in this.

You may try but I doubt you can get the missing month as my partner’s colleague did not manage to. Reason being the colleague is the one who did not want the card and signed the tnc acknowledging that will mean forfeiture of the 1.5%

And if u like to refer to the product page, perhaps you should spend some time reading the full tnc as well.

It has been stated in all tnc. Even With the latest revised one, it is still stated there- please refer clause 15 if in doubt.

Click here  and have a read.

To save yourself and others from future trouble, go back the bank or request online for a card tag to it.

Anyone free gift if open acc at QB SC Booth?

May I know when your wife open the account?
I just get to know from one of the agent, they mentioned that before feb, it's compulsory to get debit card, after feb it's optional.