ya..right...
that works for FD because you uplift that day
so 30 Dec to 31 Dec = 1 day interest
but I didn't withdraw on 31 Dec, so it is definitely 2-day interest

should have applied the value of 1 January 2023 instead of 31 December 2022
but it is useless because they did not update the interest until 4 Jan 23

Update from Versa: Versa Cash provided a 3.45% p.a. return for Dec'22, far above it's target of 2.75%.

This rate was applicable for all funds that didn't qualify for the promotional 4% rate, e.g. funds above the RM30k cap.

Actually ended up 0.01% better than KDI even without promotional bonus.

And they have to pay less for the promo rates instead 🤦‍♀️

It is reflected as the price unit went up to 1.18 range

The question now is have they set a projected rate this year? As it is not reflected for it

Now we wait for KDI to fired back otherwise they will lose out 🤦‍♀️

Yes

nope
the return we receive is projected return 3.45% - management fee 0.30% - trustee fee 0.05% ~ 3.1%

Base net return is after fees hence 3.45% is net after deducting 0.35%🤦‍♀️

Projected rate is way higher now at 3.8%

Nope. It's 3.45%, then plus 0.55% for the first 30k.

if you checked the daily gain, would have realised it is 3.10% instead of 3.45%
divide 14 January 2023 balance by 13 January 2023 balance, then multiply by 365

Have you included the paid out yet? Because whatever short of base net return will be paid out the following month 🤦‍♀️

Any referral code for versa? new here.

One question. I noticed the money stored is not protected by PIDM. What if one day they have a system glitch or got hacked, will my money be affected? Like e-wallets, I kena once where my money being reduced for no reasons.

4% promo before 31 Jan

You've got PM.

Don't think PIDM protects from ewallet glitches or credit card fraud either.

I see. What is the recommended amount to be stored inside Versa, to keep the risk low? I guess large amount, going with bank FD is better?

read

https://support.versa.com.my/hc/en-us/secti...081495-Security

https://support.versa.com.my/hc/en-us/artic...Trustee-Berhad-


if you cannot accept how versa manage your fund, then better go with PIDM products like FD instead

security of fund goes both way: you and service provider

most ppl doesn't even know the leakage came from them. it's easier to blame the other party

there are institution that help you on disputes, in this priority

1) always try to resolve from the service provider
2) if not satisfied, escalate to OFS for mediation
3) finally regulatory authorities like BNM

This post has been edited by cybpsych: Jan 21 2023, 11:53 AM

Versa Cash works like unit trusts based on a AHAM fund. For most people the risk isn't of the fund disappearing or your deposits glitching, it's just the risk of lower returns than your expected target.

At least until this month end, the returns are almost guaranteed to be 4%, which is actually better than investing directly into the fund on your own, so it's nice place to park money which can be withdrawn at any time, unlike FDs.

My recommended amount for you is whatever let's you sleep comfortably at night.

So what if one day Versa closed down or gone bust, as you know companies do close down too.

What will happen to my money? Will it get frozen? or will they allow me to withdraw all of them?

I doubt banks will just close down (even they do, it will be in the news to withdraw in time). But service providers like Versa, not sure. I may be over thinking, but curious.

edit: nevermind, it's stated here https://support.versa.com.my/hc/en-us/artic...blic-or-closes-

This post has been edited by ericwen: Jan 21 2023, 01:36 PM

I signed up. How come I am forced to share my employment details, like company name, company address.. isn't this a personal thing? why they need to know my company I work for details.

Can I choose homemaker to avoid this? or can i put fake details?

It's eKYC. Cause they need to know source of fund. If you don't share, you can't use their service. And if they find the amount of money is like more than what you declare they can ask for source of money (bank statements, payslip)

This post has been edited by Ramjade: Jan 21 2023, 02:07 PM

dun have to be secretive. ur IC front and back can get them more info than they need to be honest, if they want to.