Bruh Frank debit card annual fee is only RM8.

Go+ rate is 1.4%, Frank is 2.4% annually, with RM1000 initial deposit with no subsequent deposit, GO+ you get RM14 interest, Frank you get RM24 in interest, deduct the RM8 annually you also untung 0.2% already la, you deposit more emergency fund into Frank that RM8 is peanuts.

Sometimes you have to think of economies at scale, don't be penny wise pound foolish. My application to OCBC Frank was very smooth, register online, walk into branch instant get debit card, the banker explain everything in detail. Just they will also hardsell you insurance at the same time so beware. You can try apply at Subang USJ branch if it's convenient for you.

Frank now is 1.8%p.a. Not 2.4%p.a

My apologies, forgot OPR dropped  . But my points still stands, RM8 annually is just such a small negligible amount to ignore

Versa:
Seems like overnight interest is given even on weekdays.

So judging from the return amount of RM 0.04 for RM 1000 deposit, by calculation, it's ~1.46% for that day.

Is that correct?

Your overnight interest is only 0.4% while dividends are yet to be payout by this weekend and it’s 0.18% estimated

So your returns this week based on the deposit is only 0.58% in total

RM 0.04 / RM 1000 not 0.004% ?

Wow.. I'm lost.. Still learning to calculate..

Based on my experiment,

For Go+, I would've gotten RM 0.04 for RM 1000 deposit as well, for the day @ 1.47%p.a.

Wow.. I'm lost.. Still learning to calculate..

Based on my experiment,

For Go+, I would've gotten RM 0.04 for RM 1000 deposit as well, for the day @ 1.47%p.a.

*I'm not saying which is better, just learning Versa. I'm just using Go+ as reference because I find it straightforward (Amount x %p.a. = payout per day). So I'm using it as reference to understand Versa.

Oh, I'm seeing some say "plus something" every fortnight..

Do you mean that this "overnight interest" is like a bonus on top of that day's interest? Or just a goodwill from versa since that day will not accrue actual interest?

Oh, I'm seeing some say "plus something" every fortnight..

Do you mean that this "overnight interest" is like a bonus on top of that day's interest? Or just a goodwill from versa since that day will not accrue actual interest?

When i open the Frank account, i didn't take the debit card, so i can save the RM 8 annually ?

Frank :
I've been applying for for Frank since last year..what a mess..

They've been throwing me around various branches, end up require me to go all the way back to the branch nearest to my address in IC. Same thing with customer service, some says no issue, while some ghosted me. With the off and on MCO, been delaying since last year when I first tried.

Besides, for Frank, there's some annual fee or something incurred.. I did the calculations long time ago (sorry, forgot).. And i considered it cost incurred, and to recover that amount may cut into "profits/time" as well.

Go+ :
In terms of Go+, not much use for it anyway and it's a dilemma for my case. Not much use due to the 9.5k limit, and I'm not able to cash in via FPX, shows unsuccessful. Currently just playing around by reloading through FPX into ewallet then into Go+, but afraid of being flagged or whatever for withdrawal and stuff. I know it should be okay since I'm not using credit card for that, but who knows what they think. Besides, I do reload with credit card for ewallet transactions. So I'd rather not have issue with them as their customer support takes ages to reply, and I do depend on the app alot for tolls.

Anyway, thanks for all the replies, I'll assume for now that "Tuesday" incrues interest. So it's around 4 days for Versa, while Go+ is 3 days. Meanwhile, I'll reconsider Frank again if I have the motivation to go to the branch.

With the current projected inflation rate, I'm squeezing every bit just to stay.

From my experience, you must take the debit card. I'm not sure if you can negotiate to not take the debit card to save rm8 annually. But if can, better so you don't even need to pay anything annually, just maintain minimum rm20 and put all in save pot.

MMF can't help you to overcome the inflation rate, better you invest through Stash Away or share market.

I agree with you. Thank you.

Meanwhile, I have some short term funds holding in savings account, too short for monthly FDs, while too long for daily 0.1%p.a. of the savings account. Yet I need it to stay liquid to a maximum of 3 days +/-. Just wondering if there's anything I can squeeze out of it.

Have been eyeing on Frank since last year, but with MCO and time constraints, it has been on hold till now. With the recent launch of Go+, it gave me a thought to look into MMF as an option, so I'm looking around and learning.

I agree with you. Thank you.

Meanwhile, I have some short term funds holding in savings account, too short for monthly FDs, while too long for daily 0.1%p.a. of the savings account. Yet I need it to stay liquid to a maximum of 3 days +/-. Just wondering if there's anything I can squeeze out of it.

Have been eyeing on Frank since last year, but with MCO and time constraints, it has been on hold till now. With the recent launch of Go+, it gave me a thought to look into MMF as an option, so I'm looking around and learning.

One more question.

Is versa safe? The link in the FAQ is not working.

I don't mean in -ve ROI. More like, will my money just dissappear for whatever reason, say cease of operations or something.

Will my 100mil deposit just vanish into thin air? 😄