Please Open up one new Topic for this latest Digital Bank for our discussion ☺️

Alright, Ryt going online soon, the last of the 5 digital banks.

https://www.lowyat.net/2025/340918/ytl-laun...d-digital-bank/

https://www.linkedin.com/posts/rytbankmy_ry...=member_android

This post has been edited by TOS2: Jan 14 2025, 10:18 PM

Hmm...

AI generated personalized banking using customer behavior...

It's sure gonna be one messy banking platform 😕

First in Malaysia btw
Good try by YTL 👍

Can see the eligibility and fees for Ryt bank on their website tnc page https://www.rytbank.my/general-terms-and-conditions


and

is it really a good idea to allow customers to perform bank transfers via images or chat? Sounds like it'll backfire easily, dunno how BNM can approve this.

Yep, with scammers calling you every now and then, and 5-6 digit deposits at stake, surely old uncles and aunties won't touch this.

But if we play round up trick and given the limited promotion period of a couple of months, the risk might be worth taking. (Banks don't give you 5% forever. We know their tactics too well with GX Bank and BoostBank.)

If the long-run rate stays at 2% with 10 saving pockets ala GX Bank, the most scammers can get out of you is 1003.75-1006.50, depending on whether it's calendar year or leap year.

I hope the AI part can be made optional or turned off though, that way we can reduce the chance of scams and/or unauthorized withdrawals.

yea, it provides scammers more avenues for exploitation and fraudulent activities.. as if malaysians haven't been scammed enough.

It should be opted out by default. I'd rather have them force users to setup more authentications.. MFA and biometrics to enable it, even still i feel its not sufficiently secure.

This post has been edited by Maniee27: Jan 15 2025, 06:14 PM

Progress:

KAF Digital Bank and Ryt Bank Now Covered Under PIDM’s Deposit Insurance
Depositors are covered up to RM250,000 per depositor per member bank.

https://fintechnews.my/48052/digital-bankin...a/pidm-kaf-ryt/

Ryt bank will likely start business on the 27th? https://www.rytbank.my/general-terms-and-co...erms-conditions

We know for now saving pockets will be available, all daily interests. The maximum amount of saving pockets, interest rates for main account and saving pockets are not yet known.

This post has been edited by TOS2: Mar 10 2025, 09:29 AM

Keep all of us updated...

If comes live...

Then open back the thread @ topic 😁

There is no thread for Ryt. Last time the one kena complained is the KAF digital bank thread.

Ooh..

Too much digital banks around, keep confusing which is which is open or locked....

Anyway let's see their offering can beat whatever available in market now or not 🙏

😁

KAF digital bank is called onzbanking. Who want to become beta tester can go https://www.onzbanking.com/english.
After submit, they will email you to fill up survey

TOS2 you might want to change the old name to OnzBanking 🙏

Ryt about to go online tomorrow...

https://www.rytbank.my/

Already can see how the registration page looks like in the homepage link (scroll to bottom).

Still no idea what rates will they give...

The preparation seems very good, a lot more well-prepared than other digital banks. T&C all up liao. Looking forward to this one.

This post has been edited by TOS2: Mar 26 2025, 09:17 PM

Ryt does look good, hope they set low limit for AI transfer though, or a toggle to not use it at all

If 3% i will move my money from Gxbank to Rytbank

AHA you found it!

3% p.a. it is

Accountant's eye still the sharpest!

May be 12 am can register

Ahhh

Nice 👍

3% p.a paid daily basis