Maybe brick and mortar costs higher. Also versa might not be making profit. Iirc hk digital banks all loss making until now.

Wow. This is scary. Maybe I should consider taking my funds out.

Thanks

Anyone has a referral code? PM me

done

Because Banks are paying the shareholders 1st and followed with higher costs to run a bank platform 🤦‍♀️ and expenses like branches and officers which causes it to give you less because of expenses

If you read the fund information properly 🤦‍♀️ the MMF itself only returning 3.54% and Versa-I is 2.91% last month while the shortfall to 4.3% is funded through Versa itself coupled trailer fee rebates from AHAM

You shouldn’t be scared 🤦‍♀️ because there is no way and not so easy from them to collapse from such promo because it has been accounted for and the limit of the promo is so low that is only up to 30k

Yes physical banks expenses is high and they only make more money when interest rate are low

You cannot compared 🤦‍♀️ to HK digital banks because small population over there while highly saturated mass market with high cost of living over there while the HNW are banking with physical banks unlike Malaysia whereby population is 7times higher with high penetration rate

Don’t forget HK monetary policy are following lockstep with the Fed because of HKD is being pegged to the dollar in this high inflationary era

Typically how many days we get the RM10 referral reward once the referral deposits the money ?

thinking of moving some funds out from KDI to either Rize or Versa.

what does referral code do/get?

If someone uses your referral code and deposit min. RM100, both of you can get RM10.

"For Versa Cash, there are 0.30% per annum management fees and 0.05% per annum trustee fee."

what does this mean? 4.3% is before inclusion of the fees?

read

https://versa.com.my/versa-cash-3-2-net-ret...rate-promotion/
https://versa.com.my/versa-cash-4-net-retur...rms-conditions/

I have been a Versa Cash user for many years... I'm an inactive user, just put some money there and ignore it. Actually how can I have a Versa Cash-i account as well? I want to help to put some of my mom's funds so that our savings and interest will be separated if it can be divided into Cash and Cash-i. I tried checking around the app, but I could not find it. Did I overlook something? Appreciate your advice.

above, I believe still same method

good idea to separate savings 'pot' for different person

you can also use Rize too.

Open an account for her?

OMG, how could I miss this! Finally.

It's inconvenient as I don't live with her now.

No need headache because both are separate portfolio and you just need to select which one because by default an account will have both of it

If deposit today the interest count today or tomorrow?
Any cut off time?

--answer--
Versa Cash-i:

If we receive your cash in before 10.00 AM on a Business Day, we will process it the same day (Mon - Fri), and within T+2 business days, your money will be in your Versa account. However, if your request is made after 10.00 AM, it will be processed on the following Business Day.


Versa Cash and Invest:

If we receive your cash in before 3.00 PM on a Business Day, we will process it the same day (Mon - Fri), and within T+2 business days, your money will be in your Versa account. However, if your request is made after 3.00 PM, it will be processed on the following Business Day.

This post has been edited by virtualgay: Jul 18 2023, 05:38 PM

Assuming deposit before cut-off for Versa Cash-i and Versa Cash, is the interest starting on T or T+2?

Yippee !!!
Received my first referral RM10 from Versa

i tak sure le.. i sign up for RM10 saja

How long after ur referee top up?