Is there something wrong with their interest calculation. Looks way lower than previous month
Digital bank Rize, By Al Rajhi Bank
Digital bank Rize, By Al Rajhi Bank
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Sep 1 2023, 07:01 AM
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#1
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Junior Member
199 posts Joined: Sep 2013 |
Is there something wrong with their interest calculation. Looks way lower than previous month
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Sep 1 2023, 08:37 AM
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#2
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199 posts Joined: Sep 2013 |
QUOTE(Optizorb @ Sep 1 2023, 08:32 AM) got my interest. but it is way lower than what im supposed to get.. Yes something is not right. I already called them and they are checkingSpeechless. This Rize is real trash. Really wonder how they can get license from BNM..? Interest calculation also can fak up time and time and time again.. |
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Sep 1 2023, 02:03 PM
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#3
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199 posts Joined: Sep 2013 |
QUOTE(Optizorb @ Sep 1 2023, 02:41 PM) no doesnt tally at all. Agreed. Mine also don't make sense. I even showed them my opening balance for 1 august not even adding money in and show them calculation, it is way short. By virtue of some comments here, some ok and some not ok, this means they do have some problem. So all these excuse forget to change to 5%, doesn't make sense. This 1% extra doesn't contribute to such big difference Also when i called them up they say that profit is for July. Didnt mix with August. So i also donno wtf going on but left it at that since they say that is July profit. (although i know it doesnt make sense, supposed to get rm8+ profit but gotten rm18+) When comes to August profit then, im short of about RM17. If count July (the overpaid profit) + Aug profit = im still short of RM7.77 from what i should actually be getting. Basically this is my calculation what i should be getting: ![]() doesnt make sense, because it is not a small amount. Mine short of about RM17. My relative who open rize on 10th Aug and put 20k in, receive only rm22+, instead of rm46+.. 5k 5% = 0.68/day 15k 4% = 1.64/day 0.68 + 1.64 = 2.32/day x 20 days (11/8 to 31/8) = RM46.4.. but get rm22+ only.. this is about 50% lower.. where is the logic.??? even if say whole amount is 4%, 20k 4% = 2.19/day x20 = RM43.80..... |
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Sep 1 2023, 06:23 PM
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#4
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199 posts Joined: Sep 2013 |
QUOTE(xander2k8 @ Sep 1 2023, 05:53 PM) Then you have to check with them No way I calculate wrongly, like I mention in August I only have money in no out. When I showed rize Customer service what outstanding I have on 1 August, I did not even add the money in. I use the 1st August balance X 31 days \365 days and I just use 4% and not even 5% and it is short so much. Even rize customer understand my calculation and said will check and revertAssuming no withdrawal and fixed 5k the difference is 20% in profit calculation You need to check with them and compare with previous month profit distribution 🤦♀️ if it is lower by 20% then you know they calculate wrongly 🤦♀️ This post has been edited by woowoo1: Sep 1 2023, 06:24 PM |
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Nov 3 2023, 07:43 AM
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#5
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199 posts Joined: Sep 2013 |
QUOTE(ronnie @ Nov 2 2023, 05:58 PM) don't be sad... many others also in the same boat... just send an email to RIZE Customer Service to get their attention I must say this is the most unstable banking app I have come across. Like some people here just 2 months back didnt receive contractual rate and this month did not receive interest for the month. Their it and vendor doing this app shld be sacked. If by tmrw I don't receive the interest it is best I write to bnm so that they can take this issue seriously |
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Nov 6 2023, 09:07 AM
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#6
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199 posts Joined: Sep 2013 |
I also didn't receive. I already took the complaint to bnm. Even called them and email them also no reply when can rectify
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Nov 6 2023, 09:33 AM
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#7
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QUOTE(sjz @ Nov 6 2023, 10:14 AM) anyone try to contact their complaints unit? Surely we need to take it up with their complaint unit first b4 going bnmlah. Already called them 1 Nov and send them email 1 Nov but don't even bother to reply.no explanation why this is happening and when can rectify if complaints unit unable to solve, then as per SOP we report to BNM |
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Nov 6 2023, 02:10 PM
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#8
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199 posts Joined: Sep 2013 |
QUOTE(guy3288 @ Nov 6 2023, 03:05 PM) I want to transfer all my money out also scared, after that duit now thru but money didn't receive by recipient bank. Aiyo what is wrong with the app. Interest wrong, missing duit now and now missing profit |
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Nov 9 2023, 10:00 PM
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#9
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199 posts Joined: Sep 2013 |
QUOTE(guy3288 @ Nov 9 2023, 10:05 PM) ok now how fast if we need money big amount At 4pm today I transferred rm4.9k to alliance bank, no problem.pass thru instantlyi tested 2 accounts today 8+am tried duitnow RM50k to MBB saving account, it says duitnow cant be sent, to contact customer care, i dont need the money so i ignored it but within 5 mins CS called me, she asked is it me and said can proceed do again ,success, money in instantly. ok pass 1+pm tried another account, same error message appeared again waited for CS call, but this time no call even after 30min, i hantam an email to Rize said i needed money urgently then received call around 2pm, Duitnow done, money instantly into MBB SA. acceptable i think, hopefully next duitnow to same receiving bank account would not need call approval again. KDI is best in this no need call approval. but no instant money .must wait till nite. then i experimented with my various bank accounts, found Rize would not accept Alliance bank account with 15 digits. has anyone done withdrawal to Alliance saving account? Any problem? other bank accounts all seem ok, only Alliance accounts not accepted, it says error code 52, invalid account i tested deposit money to Rize from that "invalid" account masuk pulak! |
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Dec 1 2023, 07:14 AM
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#10
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QUOTE(cybpsych @ Dec 1 2023, 07:58 AM) ooops didn't get interest for the 1st time At 500am still haven't receive but at around 700am , interest was credited. Finally received on timewill wait them few days to sort it out first before grilling them. cybpsych liked this post
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Dec 1 2023, 07:59 AM
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#11
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QUOTE(leanman @ Dec 1 2023, 08:25 AM) Hah I normally wake up very early. Anyway since this system very buggy need to monitor monthly. Past 2 months in a row I have problem.first wrong calculation, then no interest.now I see people complaining duit now can't go thru. How their system pass bnm scrutiny I also don't know |
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Dec 1 2023, 08:20 AM
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#12
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QUOTE(dark_axl21 @ Dec 1 2023, 09:11 AM) Haha. Gxbank pays daily but rize pays interest monthly. So for gxbank if don't credit will know dailyRize is reading the forums. Your valuable input has been taken into consideration. On the dot 11:59:59, mimicking Gx Bank? The maintenance was much needed. Now, hopefully the promo goes on? |
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Dec 1 2023, 10:42 AM
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#13
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199 posts Joined: Sep 2013 |
QUOTE(Lancer07 @ Dec 1 2023, 11:36 AM) No issue for me, I just log in and ok ikanbilis liked this post
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Dec 1 2023, 02:01 PM
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#14
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199 posts Joined: Sep 2013 |
QUOTE(!@#$%^ @ Dec 1 2023, 02:48 PM) I think their android app is having problem. I deleted rize and then download using app gallery. The app is ok already. However they are treating my acct as a new device with 12 hour Colling off period. Now I can log in alreadyThis post has been edited by woowoo1: Dec 1 2023, 02:02 PM guy3288 liked this post
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Dec 1 2023, 02:15 PM
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#15
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199 posts Joined: Sep 2013 |
QUOTE(BWassup @ Dec 1 2023, 03:11 PM) I see. Don't think I'll do that, since the cooling off period will run until tomorrow. Anyway, they are still blocking Duitnow transactions? I also give up. When everything settle, I am moving all my money to kdi or gxbank. More painful and stressful to handle this problematic appIf tmr still stuck like this, should we all march to al-Rajhi HQ? ikanbilis liked this post
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Dec 1 2023, 03:08 PM
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#16
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199 posts Joined: Sep 2013 |
To say they will bankrupt, nolah alrajhi physical presence still here and rize business is too small to bankrupt them. Just the hassle to complaint, see your money missing after transfer only. I am sure as a bank, they have sufficient backup system in place to recover their data. Bnm very strict on Business continuity plan for banks
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Dec 1 2023, 03:42 PM
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#17
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199 posts Joined: Sep 2013 |
[quote=cybpsych,Dec 1 2023, 04:35 PM]wait till app resume, transfer all money out, then close account lor
// You may close your Rize account by contacting Rize Customer Support. Contact details are on the Rize app. // [/quote sorry wrong reference This post has been edited by woowoo1: Dec 1 2023, 04:15 PM |
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Dec 1 2023, 04:12 PM
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#18
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QUOTE(whycanot323 @ Dec 1 2023, 04:41 PM) same rooted device error??? Look at my previous post 2113. This solution will only result in you able to log in and see but cannot transact due to cooling period of 12 hours. Maybe better just wait for rize to solve as I am sure they are aware. I have also wrote to their customer service about the android problem. Pls note to do this, you need to have access via app gallery and not via play store use it to download rize after removing it. If you don't have app gallery you can't do this. This is for those so worried whether their money missing or not and urgently want to log in to see their amount. Loli am super anxiety now , quite a big amount parking inside while waiting FD promo , sohai liao this time |
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Dec 1 2023, 04:24 PM
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#19
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199 posts Joined: Sep 2013 |
QUOTE(virulence @ Dec 1 2023, 05:14 PM) Rize app already facing issue today then suddenly everyone panic and doing bank run mass withdrawal which will only compound more problems to their current system. At least let them fix the initial issue then only withdraw and close account. Today?? They have been having problem for months. First wrong calculation, then no interest, them missing duit now then log in problem. I don't know what is next, anyone's guess TOS liked this post
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Dec 1 2023, 04:44 PM
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#20
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199 posts Joined: Sep 2013 |
QUOTE(virtualgay @ Dec 1 2023, 05:33 PM) in the cloud like my case last month This is a good idea. Duit now RM1 first if everything ok then only duit now bigger amount. If money missing they may take days to recover .so before i transfer in to Rize i just do a RM1 transfer then check if get the money or not then only i transfer bigger amount regardless is in our out better do that especially 1st day of the month for rize |
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