This bank good? Seldom see any branches...
Digital bank Rize, By Al Rajhi Bank
Digital bank Rize, By Al Rajhi Bank
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Apr 17 2023, 11:03 PM
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#1
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Junior Member
222 posts Joined: Jan 2023 |
This bank good? Seldom see any branches...
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Apr 18 2023, 07:50 AM
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#2
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222 posts Joined: Jan 2023 |
QUOTE(storky20 @ Apr 17 2023, 11:17 PM) Not sure good or not, but most people here probably only here for the promo interest of 5.0% p.a. till August 31st. Need go branches to show IC b4 approve account?I know I am lol. I just worry later deposit is easy, withdraw is difficult. Later need ask show this and that to prove identity...etc. End of the day last ask you go to branches settle |
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Apr 18 2023, 08:33 AM
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#3
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222 posts Joined: Jan 2023 |
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Apr 18 2023, 10:46 AM
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#4
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222 posts Joined: Jan 2023 |
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Apr 18 2023, 10:47 AM
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#5
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222 posts Joined: Jan 2023 |
QUOTE(xander2k8 @ Apr 18 2023, 10:37 AM) 1stly they are a digital bank hence it is branchless and all support is through app itself π€¦ββοΈ IC. Wanna try deposit RM 100 mana tau, 1st step sudah can not proceed Even their KYC is through app as they wonβt ask you to go any branch there isnβt any at all because they are a digital bank π€¦ββοΈ |
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Apr 18 2023, 10:58 AM
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#6
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222 posts Joined: Jan 2023 |
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Apr 18 2023, 11:11 AM
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#7
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222 posts Joined: Jan 2023 |
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Apr 18 2023, 12:22 PM
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#8
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222 posts Joined: Jan 2023 |
QUOTE(dlttdltt @ Apr 18 2023, 12:03 PM) How your got lock? You wash black money Mine register this morning still in processing. dlttdltt liked this post
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Apr 18 2023, 10:38 PM
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#9
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222 posts Joined: Jan 2023 |
QUOTE(xander2k8 @ Apr 18 2023, 10:37 AM) 1stly they are a digital bank hence it is branchless and all support is through app itself π€¦ββοΈ Sifu, just now I checked Bank Negara website, currently only 5 licensed digital bank in Malaysia. Can not find Rize/Al Rajhi Bank from the list. Why ar Even their KYC is through app as they wonβt ask you to go any branch there isnβt any at all because they are a digital bank π€¦ββοΈ https://www.bnm.gov.my/-/digital-bank-5-licences |
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Apr 19 2023, 10:43 AM
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#10
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222 posts Joined: Jan 2023 |
QUOTE(contestchris @ Apr 18 2023, 11:33 PM) ALL commercial banks (conventional and Islamic) by default have a digital banking license, which is a subset of their commercial banking license. The 5 digital bank licenses approved by BNM was to non banking entities (although some like RHB also tersesat in there, not sure why/how). QUOTE(xander2k8 @ Apr 19 2023, 01:26 AM) Any existing banks who offered internet banking by default it is digital bank but with a difference in offering only IC. I tot Online Banking != Digital Banking. Online Bank and Digital bank is 2 different entity.RHB is in there because due to lack customer marketing awareness particularly in their conventional banking Hence which is why it is forced to partner with Boost to raise their profile on digital banking otherwise it will be a flop when they applying the license by Boost themselves π€¦ββοΈ To operate Online Bank = Need bank license. To operate Digital Bank = Need Digital Bank license, that why 5 new Digital Bank license was awarded last year. ================================= If I understand correctly, now seem for existing Bank to operate Digital Bank = No new license require. So soon or later Tiger, Sotong bank will have new Digital bank App soon? This post has been edited by PueRTeaA: Apr 19 2023, 11:03 AM |
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Apr 19 2023, 11:04 AM
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#11
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222 posts Joined: Jan 2023 |
QUOTE(virulence @ Apr 19 2023, 11:00 AM) I tried the sign up process on app and only took about 5 mins before my account was approved. Seems quite hassle free. Why your account so fast approved? I login just now mine still in processing.... Are there any benefits for Rize debit card? I don't want to pay annual fee for a card that I will hardly be using |
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Apr 19 2023, 04:31 PM
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#12
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222 posts Joined: Jan 2023 |
QUOTE(xander2k8 @ Apr 19 2023, 04:17 PM) Very childβs play why 18/7/365 and not 24/7/365? You should try Versa because when errors happens they usually fix it within 4 hours and they will get back to you with updates π Hence why digital bank even more important have a good and solid 18/7/365 support otherwise if anything haywire especially account missing funds π€¦ββοΈ |
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Apr 20 2023, 07:45 AM
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#13
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222 posts Joined: Jan 2023 |
Morning try login my account still under processing....
Haiya....already 2 working day |
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Apr 20 2023, 11:03 AM
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#14
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222 posts Joined: Jan 2023 |
QUOTE(Super2047 @ Apr 20 2023, 09:36 AM) May be all staff on Holiday mood already. 11am try still same. May be need try luck on 25 April already. so those wording "within 2 working days", "24 hour", "Fast processing"...etc...is nice to see, once thing happen all can delay. |
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Apr 20 2023, 03:21 PM
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#15
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222 posts Joined: Jan 2023 |
QUOTE(joice11 @ Apr 20 2023, 02:09 PM) I apply on 18 Apr, but not yet approved. I think I qualify for this QUOTE(xander2k8 @ Apr 19 2023, 04:33 PM) This morning 11am+ email the support, now already 3pm + but no reply, sure they got 18/7/365 support? If real 365 mean Public Holiday also got people work, some more today haven't holiday yet. This post has been edited by PueRTeaA: Apr 20 2023, 03:24 PM |
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Apr 20 2023, 07:57 PM
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#16
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222 posts Joined: Jan 2023 |
QUOTE(xperiaDROID @ Apr 20 2023, 04:45 PM) Banks generally discriminate unemployed individuals, basically the "Unemployed" option in the employment detail section is there for decoration, so it wouldn't look too obvious that they actually discriminate on first glance. When they reject your application, they can just say you don't fulfill their "internal policy". Al Rajhi bank have at least 2 mobile banking App, alrajhi@24seven & alrajhi bank, rize is another new app, does it sound reliable?But Al Rajhi is worse, just like some other foreign banks, they tend to discriminate self employed individuals too, so if you're something like a gig worker you'll definitely be rejected because they don't understand what is "gig". There's no need for banks to make a new app just to offer "digital bank" service, those banks who did that are all unreliable and if there's something wrong with your account you're screwed because everything can only be done via the app, some can't even provide debit cards which is worse, I would say they're doomed to fail because of the small userbase and they don't seem to be serious in improving too. Banks nowadays (HSBC excluded) already provide seamless online account opening via their current app or website without visiting a branch, this method is the way to go because you can still visit the branch when things go wrong. BTW, I fill self-employed, kena discriminate too Morning email support already but until now no reply, this is good time to test how reliable for their 24 hour support team before dump in money. |
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Apr 21 2023, 08:32 AM
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#17
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222 posts Joined: Jan 2023 |
QUOTE(xander2k8 @ Apr 21 2023, 04:33 AM) PIDM coverage and the card issued by Al Rajhi bank with their contact details and registered company and address under it π€¦ββοΈ https://www.pidm.gov.my/en/how-we-protect-y...em/member-banksThey donβt need to say it because it is registered under Al Rajhi just like MAE π€¦ββοΈ Yes that is right they are using PIDM coverage under Al Rajhi The PIDM registered bank is "Al Rajhi Banking & Investment Corporation (Malaysia) Berhad" For Al Rajhi Bank, how can the wording "Investment" use for PIDM as usually investment banking not cover for PIDM They can merge the conventional banking and Investment bank become 1 entity and get PIDM cover For local bank, usually conventional bank and investment bank is 2 different entity. For this case, if the Al Rajhi Bank investment business invest in Grade C Bond and ''zhap lap'' which affect their conventional banking and Digital Banking(Rize), do we still get PIDM cover? ----------------------------------------------------- Bottom also got the notes, Investment bank can not be a member of PIDM. Non-Member Institutions: Investment banks Overseas branches of member banks Development financial institutions and cooperative banks All non-bank financial intermediaries such as provident and pension funds, co-operative societies, housing credit institutions and building societies which are not supervised or regulated by Bank Negara Malaysia This post has been edited by PueRTeaA: Apr 21 2023, 08:53 AM |
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Apr 21 2023, 12:01 PM
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#18
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222 posts Joined: Jan 2023 |
My account Opening still pending, my review for this bank
Interest High βοΈ Account Opening within 2 working days β 24/365 email support β |
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Apr 21 2023, 01:10 PM
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#19
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222 posts Joined: Jan 2023 |
QUOTE(xander2k8 @ Apr 21 2023, 12:54 PM) Someone is confused because of the entity and not the product π€¦ββοΈ which is being covered by PIDM as they are mandated only to cover all registered and licensed banks by BNM on savings and FD products only with the exception of BSN savings and FD which is covered by the govt itself Damm, seem PIDM just a marketing gimmick, bank sell 1 product under PIDM, then keep promote we are under PIDM, then sell other 99 product no cover see which customer will fall into Is like shipee discount voucher giv u 99% but max cap at RM 1 |
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Apr 21 2023, 01:26 PM
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#20
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222 posts Joined: Jan 2023 |
QUOTE(Super2047 @ Apr 21 2023, 01:16 PM) Bro, your case is a bit weird la. I successfully opened the account the same day, and I also helped my wife to successfully open her account even though it takes slightly few hours more to process hers. Besides, I also call the CS up to double confirm how to get the promo rate and the response was fast and accurate. In fact after using Rize App for some time, i quite like the interface and how fast the app react. To be, I am pretty happy with them except if they end their promo rate after Aug 31 I fill self-employed. May be they don't like self-employed as someone mention bank got discriminate self-employed customer. QUOTE(!@#$%^ @ Apr 21 2023, 01:19 PM) I do email them, no update. Just now 1:21pm try login still in processing....I registered on 18 April, as the App mention max 1-2 working day, haiz![]() This post has been edited by PueRTeaA: Apr 21 2023, 01:28 PM |
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