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 Digital bank Rize, By Al Rajhi Bank

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TSikanbilis
post Apr 5 2023, 02:47 PM, updated 2y ago

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https://www.rize.com.my/application/files/4...-_ver1Oct22.pdf

Product : Commodity Murabahah Savings account i

First RM5000 - 5%

RM5001 and above - 4%

Promo extended to 31 Dec 2023

Protected by PIDM up to RM250k

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This post has been edited by ikanbilis: Aug 3 2023, 03:34 PM
TSikanbilis
post Apr 5 2023, 02:58 PM

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QUOTE(nexona88 @ Apr 5 2023, 02:53 PM)
this special profit rates is for period of 6 months only devil.gif

after that period? lower like 3% or 2% only whistling.gif
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I treat it as an alternative to versa/KDI. If after 31 Aug less than 3.5% i can always duitnow to somewhere else to park my fund.
TSikanbilis
post Apr 5 2023, 03:05 PM

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QUOTE(Wedchar2912 @ Apr 5 2023, 03:02 PM)
can share how easy or difficult the account opening process? all via the app?
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Application thru the app. I applied 2 days ago and today is still under processing sweat.gif
TSikanbilis
post Apr 6 2023, 11:00 AM

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QUOTE(!@#$%^ @ Apr 5 2023, 04:43 PM)
found it. only those new users can have. sad

https://www.rize.com.my/application/themes/..._Rize_Final.pdf
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What is the interest rate before this promo?

Is the interest credited monthly to our account?
TSikanbilis
post Apr 19 2023, 03:51 PM

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Got this error message when i try to order the debit card doh.gif

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TSikanbilis
post Apr 19 2023, 04:14 PM

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QUOTE(xander2k8 @ Apr 19 2023, 04:02 PM)
Very child like unpolished app as the links are broken everywhere and breakfix only upon customer error

This is why Rize is hopeless unless it is 18/7/365 support to fix such errors 🤦‍♀️
Only saving pot entitled to the promo
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Have to ask them to escalate the matter to their IT doh.gif

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TSikanbilis
post Apr 20 2023, 11:03 AM

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Finally able to order debit card.

Just need to update the profile mailing address.

This post has been edited by ikanbilis: Apr 20 2023, 11:14 AM
TSikanbilis
post Apr 20 2023, 11:26 AM

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QUOTE(robt1013 @ Apr 20 2023, 11:10 AM)
https: // www .rize.com.my/index.php/support#faq

FAQ stated more than 5k charge u RM0.50 drool.gif
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Should have transferred RM4999 instead biggrin.gif
TSikanbilis
post Apr 21 2023, 01:29 AM

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QUOTE(virulence @ Apr 19 2023, 03:38 PM)
Under promotions on their website has a link to tnc:
https://www.rize.com.my/index.php/promotions#

No mention that debit card is compulsory under tnc:
https://www.rize.com.my/application/themes/...OTICE_Final.pdf
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Reply from Rize CS regarding debit card compulsory to enjoy 5% rate

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TSikanbilis
post Apr 21 2023, 11:18 AM

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QUOTE(PueRTeaA @ Apr 21 2023, 08:32 AM)
https://www.pidm.gov.my/en/how-we-protect-y...em/member-banks

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 confused.gif  confused.gif  confused.gif
They can merge the conventional banking and Investment bank become 1 entity and get PIDM cover confused.gif

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?

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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
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I have updated the Rize PDS on my #1 post.

If you still have doubt about their pidm coverage you can always check with pidm itself at info@pidm.gov.my
TSikanbilis
post Apr 21 2023, 11:32 AM

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QUOTE(joice11 @ Apr 21 2023, 11:24 AM)
may i know what is this profit rate and agency fee ?
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This profit rate is applicable to your account if you don’t subscribe to their debit card.

Agency fee is illustrated on the PDS of my #1 post.
TSikanbilis
post Apr 21 2023, 01:57 PM

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QUOTE(PueRTeaA @ Apr 21 2023, 01:26 PM)
I fill self-employed. May be they don't like self-employed as someone mention bank got discriminate self-employed customer. hmm.gif
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

user posted image
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If you do nothing they also do nothing.

I also waited one week and heard nothing from them. I emailed to ask then only they told me my scanned IC not clear and ask me to scan again.

I re-apply again and within 2 minutes my account is ready.
TSikanbilis
post Apr 21 2023, 05:00 PM

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QUOTE(virulence @ Apr 21 2023, 04:44 PM)
I spoke to their Customer Support earlier and she told me it isn't necessary to have debit card for special profit rates so this subject is rather confusing. Even their T&C on website has no mention of debit card:
https://www.rize.com.my/application/themes/...OTICE_Final.pdf
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Yes indeed it is very confusing as there are 2 different amended TnCs as below:

https://www.rize.com.my/application/themes/...OTICE_Final.pdf

https://www.rize.com.my/application/themes/..._Rize_Final.pdf

So which is the real final one??? confused.gif





TSikanbilis
post Apr 22 2023, 12:03 PM

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QUOTE(PueRTeaA @ Apr 22 2023, 10:05 AM)
I just try login this morning, finally account open success.

Deposit RM 100, now everyday 0.1369 sen richer  rclxm9.gif

user posted image
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RM100 will only give you 0.013 daily. Better put RM5k

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This post has been edited by ikanbilis: Apr 22 2023, 12:09 PM
TSikanbilis
post Apr 22 2023, 05:37 PM

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QUOTE(wan7075 @ Apr 22 2023, 04:42 PM)
do we need to create the money pot and transfer the money into it to enjoy the 5% rate? TQ
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No need.

I created the money pot so that my debit card is limited to only rm150
TSikanbilis
post Apr 26 2023, 11:41 AM

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QUOTE(virulence @ Apr 26 2023, 10:19 AM)
I deleted notifications but they keep sending back the same ones. I've turned off sound notification lol
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I mute the notification from Rize for one day
TSikanbilis
post May 1 2023, 01:55 AM

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Full 5% interest received despite debit card being activated at a later date.
TSikanbilis
post May 1 2023, 12:53 PM

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QUOTE(Super2047 @ May 1 2023, 12:34 PM)
Don't know is there any limit of how much we can put? biggrin.gif
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It’s a bank. They take whatever money you have. But bear in mind pidm protection is only up to 250k.
TSikanbilis
post May 1 2023, 12:59 PM

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QUOTE(gooroojee @ May 1 2023, 12:42 PM)
5% only for first 5k isn't it?
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5001 and above is 4% still better than KDI and on par with versa. Rize has pidm, versa no pidm.

This post has been edited by ikanbilis: May 1 2023, 01:00 PM
TSikanbilis
post May 1 2023, 01:10 PM

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QUOTE(Super2047 @ May 1 2023, 01:06 PM)
It's not paid out daily, but it's counted daily. So I am very happy with that biggrin.gif
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I see… it’s daily rest. No wonder the interest is slightly more than what i counted.

This post has been edited by ikanbilis: May 1 2023, 01:10 PM

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