it doesnt matter until a point it happens, like asking is insurance really matter
and when it happens, usually it is too late too respond to it.

thats why even in financial world we dont deem it no risk, we just say the risk is very minimal.

4% PIDM, 4.3% no PIDM I will go for 4.3%

Unless your amount is very huge and you will lose your sleep for that

PIDM also insure 250K only. But 250K would already generate 800+ interest per month on Rize, which can use to buy lot of Starbucks.
I personally don't have issue with Versa except it is not so instant (withdraw/deposit) compare to Rize, so I'll prioritize Rize over Versa as I'm only storing the free floating money, while those longer term deposit, might as well just deposit in EPF

PIDM is nothing lo... if they fail, lots of banks will also fail. when banks fail govt will fail next, you think Govt can pay ?

remove PIDM then still VERSA and KDI got limit, if no limit VERSA will be top of the top choice

problem with Versa is just 60k, 30k each
if ppl who have like 1.0M or 2.0M floating they will not put in VERSA / KDI

longer term deposit put in EPF? no thanks, not gonna lock my money until retirement.

If one has 1 mil, I'm sure there are other more lucrative investments waiting for them.
Else they can easily deposit it in EPF and treat it as a savings amount (>1 mil can withdraw).

Versa, KDI, Rize campaign is only for B40/M40 like the rest of us.

Yes in terms of return with protection with up to 250k limit 🤦‍♀️

Makes a lot of difference 🤦‍♀️ to those ultra conservatives

Versa 🤦‍♀️ is instant if you Versa Cash-I and same day withdrawal before 10.30 am

PIDM is just another circuit breaker 🤦‍♀️ before anything major happens to the banks 🤦‍♀️ as it is backup as the 1st layer protection before anything major for the banks to deploy Statutory Reserve Requirement which are parker in BNM before a major defaults happens

History shown that is unlikely default will happen in Malaysia as the govt will forced statutory bodies like EPF to take over as major shareholders

Yup.

Plus, Rize has real-time money transfers, up to 50k per day. KDI is not instantaneous withdrawal but EOD.

Yes. Kinda true...

Overall it's the winner if don't count the rates...

I beg to differ. PIDM is especially important for smaller banks in Malaysia like Al-Rajhi, Muamalat bank etc. If one big scandal happen in al-Rajhi like Barings bank, PIDM will protect depositors like us up to RM250k.

If you are talking about all the banks in Malaysia fail at the same time, then thats a different story altogether.

i still put 10k into Versa Cash and 3k into Versa PRS for the purpose of Tax Relief and 6% / 12% return
After 1st Feb i gonna move my 10k back into Rize

What happens if after 1 Jan no extension to 4% 🤦‍♀️ then you will still back in Versa again 🤦‍♀️

Are they stil giving out Rm20? Or the contest only?
I opened another account but didn't get the Rm20

anyone know how to change the limit? mine greyed

> know already, change limit at "manage limits" instead

This post has been edited by lee90: Nov 30 2023, 08:24 AM

I cant answer your question, because I have not got any freebies from Rize at all, from day 1. Zero. Elek

Let us see who did not get interest credit on time

I just received interest for Nov2023. Amount correct.

ooops didn't get interest for the 1st time

will wait them few days to sort it out first before grilling them.