GrabPay GrabApp PayLater integration soon? 🤔

Grab-Led GXBank Receives Approval To Commence Digital Bank Operations

GX Bank Berhad (or simply GXBank) has announced to have received approval from the Ministry of Finance and Bank Negara Malaysia (BNM) to commence operations, effective 1 September 2023. According to its press statement, the bank has successfully completed an operational readiness assessment and received its green light ahead of the April 2024 deadline set by BNM.

https://www.lowyat.net/2023/306711/grab-gxb...tions-approval/

This post has been edited by ipohps3: Sep 5 2023, 09:18 PM

Now we know which country is serious about business. Singapore win first race to market in Malaysia

Sounds like gang bank.

This post has been edited by dark_axl21: Sep 5 2023, 08:44 PM

1st??

I tot already got 5 approved last year?

All this really getting confusing man

Bank Islam claims Malaysia's Friendliest Digital Bank: https://www.getbeu.com/index.html

It's quite nice and good, although don't have full features yet. DuitNow is still limited..

This post has been edited by Natsukashii: Sep 5 2023, 09:10 PM

I didnt see any post about this from bank islam insta and fb page

Are digital banks corporate signatory friendly?

they are approved (licensed) to operate april 2022, they got 12-24mths time to setup the infra and launch products
if no products launch within this timing, license will revoke

so...grab fly tonight?

GxS by Grab and Singtel backed by Kwok brothers
Boost with RHB I think
YTL
Aeon credit service with money lion
Kuwait finance

One of them is backed by great eastern if I’m not mistaken as well. Anyway those are the 5 which were granted with the digital banking license. They have until April next year to come up with something or else their license will be revoked. If I’m not mistaken AEON infrastructure is almost ready too

Thats good to hear actually. So we'll get the product soon..

I thought would had to wait 3-5 years for it to go live for public.

i always tot a new 5 Digital bank -- end up, itu merge with itu, itu partner itu == at the end - BIG bank = win always

Banking BNM announced 5 digital bank licences


KUALA LUMPUR (April 29): Bank Negara Malaysia (BNM) has announced the five successful applicants for the digital bank licences as approved by the Minister of Finance (MoF).

The following applicants are to be licensed under the Financial Services Act 2013 (FSA):


• a consortium of Boost Holdings Sdn Bhd. and RHB Bank Bhd;



• a consortium led by GXS Bank Pte Ltd. and Kuok Brothers Sdn Bhd; and


• a consortium led by Sea Ltd and YTL Digital Capital Sdn Bhd.




The following applicants are to be licensed under the

Islamic Financial Services Act 2013 (IFSA):



• a consortium of


AEON Financial Service Co Ltd,
AEON Credit Service (M) Bhd
and MoneyLion Inc and


• a consortium led by KAF Investment Bank Sdn Bhd.



Three out of the five consortiums are majority-owned by Malaysians namely Boost Holdings and RHB Bank, Sea and YTL Digital Capital and KAF Investment Bank, said BNM in a statement on Friday.


Why RHB bank so slow?
They are traditional bank somemore

Aeon Credit Services Berhad so many database also slow......

Really dont understand wtf difference between online banking that we have right now with all traditional abnk and a digital bank

Also dont understand grab paylater

How they gip me rm1.5k original credit limit. Then can simply auto increase?

Now its already liek rm3.5k 😳😳

This post has been edited by max_cavalera: Sep 6 2023, 10:39 AM

Good, more banks to let people NPL them.
People in power can just create several John Doe, fake payslip then borrow and NPL the loan.

whats the difference?

like open bank account no need physically copy of anything?

pinjam duit, FD, all online?

like that only?

can apply house loan here?

hi all - now can install GX Bank App, just install it on my mobile
can sign up to become their beta tested but cannot do anything, just joined their waiting list

Yes. Fully digital. But maybe will need to FPX from another bank account under same name, maybe not.. have to wait and see. But yes full digital. Just like how we can activate sim using app. Need to scan selfie..

Maybe not during full launch but in time maybe can...digital signature all that sorta stuff.. I think it's really not safe lah.

u late in game... beta submission 1 month ago
wonder who got it

This post has been edited by ericlaiys: Nov 14 2023, 02:33 PM

your are late , haha i have done today bank acc today on gx bank and get reward rm20 for topup rm100

Means now open account & deposit RM10 won't get RM20?

dont see anyone post that they can open acc today. So i doubt it open to 20k people

Bank Yahoodee ?

Done!
Got invitation out of nowhere.
An avid Grab user here!

wow...since Nov1

i can't brain why is this conpanies popping up with no extra benefits to give to the ppl?

benefit = $$$.
Nowaday grab business not good. so where got money to pump in

at least offer la 0 annual fee for cc..

since they gonna save in office, staff and utilities by being digital..

dont think they will offer credit card in early day. Only debit card[plan]. Credit card now with Maybank - Grab CC

This post has been edited by ericlaiys: Nov 14 2023, 10:17 PM

I don’t understand the difference

Isnt all banks already digital? Even public bank got online banking

that is different. GXBank no physical office like branches that u can visit to do any transaction

So basically its a worse bank
No physical customer service

This post has been edited by Raddus: Nov 14 2023, 10:28 PM

How to deposit cash?

I think using MAE Maybank , u wont miss anything . More importantly covered under pidm ?

YOUR DATA is money to them $$$

1st page got details go baca pls

that why it called digital bank . same as rize

online dude. one way is fpx

https://www.pidm.gov.my/en/how-we-protect-y...aysia)%20Berhad

No QR pay?

No ATM card yet?

So it's half baked beta?

https://soyacincau.com/2023/11/14/gxbank-gr...less-right-now/

Quite pointless according to the article.

Maybe to test the stability of the app.
For now they focused on integration with the Grab app and transferring money.
Overall cannot do much honestly.
🤣🤣🤣

not really

any cost savings will always be passed on to customers to differentiate themselves from traditional banks

look at TT for example.

the big 5 banks put very hefty charges to conduct TT transactions with very unfavourable exchange rates.

Glorified e wallet

So anyone here got deposit money with them or use their loan?

So maybe they just want to be first to release the app

And since deadline is near, they just release beta first

Most likely long way to go before open for all, if they release with not even basic features, it creates bad first impression

Not everyone has an account, maybe wait longer.

Once open for all, then there'll be youtube.. tiktok reviews.

How soon do you get the RM20 cashback?

Edit: Okay, so it's instant. You can switch DuitNow (and then switch back) and get another RM8. No minimum balance. I actually like the interface and it is by far the "fastest" / "snappiest" banking-related app I've used. Just so smooth. But that's probably because it's just a barebones app for now. Still like the design. Wish the RHB app was as snappy as this.

This post has been edited by contestchris: Nov 24 2023, 01:35 PM

Yeah ! got RM28 from grab. When can get virtual & physical card?
more stable than rize

This post has been edited by ericlaiys: Nov 24 2023, 10:37 PM

The way you say it, isn't it like MAE or TnG? Where you do not need to go to physical branches to open account and apply services, but provide scanned/ digital documentation for them.

Got card coming. 1% cashback. No markup when used overseas.

Meanwhile there’s story GxS in Singapore is losing money and staffs are frustrated because management is directionless.

say it on website. look beautiful. but not sure when can get virtual and digital cards

Yes it's like MAE and TnG.

Hassle free enrollment.

That's the part I'm concerned too, but maybe will just use it while it's available..

If they're struggling in Singapore, they gonna struggle more here.. because no shariah.

In facebook, a lot of rejection because of no shariah and.. also it's grab.

Yes, looking forward to this. Cashback won't apply for ewallet topup though.

No markup when used overseas means, is it equally like (and possibly better than) bigpay?

all activities pump money sure losing money.

syariah is not applicable for non bumiputera. anyway, they can opt for rize if so concern on it.

pump first then regret

is there a limit of deposit for the 3% anual interest?

based on what I read is unlimited. enjoy while it lasts. SG side capped once a certain period.
Sure will be capped when more users come in else they are burning $$$.
technique same as grab point....start 20x....then lower it once become so popular and no more cash

no choice, marketing strategy. this marketing money cannot save .else where got people want to join if no benefit. Once pump more features and usage into gxbank, sure will cut down benefit.
it's norm

Seems like the company that doing Digitial Bank didnt promote/ heavily advertised on this

SG side interest rate from 3.49% dropped to 2.68%

Waiting for this bank to go bust & runaway all saver $$$$😂😂😂

thier app really cant log in 1 leh

any ideas how to link gxbank to grab account? there is a campaign free grabunlimited for 6 month

you can link at payment there

where? I can only see maybank, no other banks

update your grab app

the card will charge rm12. https://soyacincau.com/2023/11/25/gxbank-to...mited-cashback/
excited waiting for it

Of course it doesn't apply to non bumi

I mean, if in Singapore which is mostly non also they struggle

Here, non bumi is minority only, they might struggle too.. they need something shariah.

If they gonna cap, should just mention it's only temporary promo.

If cap, better put in TnG I guess, but TnG no PIDM

I think Rize also promo only.. I don't have Rize.

based on license awarded in malaysia, gxbank is not shariah. so not a concern here. Quote took from bnm:

A. The following applicants are to be licensed under the Financial Services Act 2013 (FSA):

a consortium of Boost Holdings Sdn. Bhd. and RHB Bank Berhad;

a consortium led by GXS Bank Pte. Ltd. and Kuok Brothers Sdn. Bhd; and

a consortium led by Sea Limited and YTL Digital Capital Sdn Bhd.

B. The following applicants are to be licensed under the Islamic Financial Services Act 2013 (IFSA):

a consortium of AEON Financial Service Co., Ltd., AEON Credit Service (M) Berhad and MoneyLion Inc.; and

a consortium led by KAF Investment Bank Sdn. Bhd.

Ohh now I see.. that means even if they want to do shariah, they don't have the license. For those who want shariah, have to wait for AEON and KAF.

Let's see what they'll deliver, time running out.. Apr 2024 is deadline I think.

GX got cashback debit card.

Hi all, I've just registered under their waiting list. How long does it takes for you guys to receive invitation to open account with them? TQQQ

Isn't it instant? Or quota reached?

Apa nice

depend on them. i've submitted a month ago. now it really depend if they want to extend beyond 20k and meet their objective based on their beta test requirement.
now we are waiting for debit card to open. So far my feedback:
a) Instant deposit and withdrawal
-FPX, Duitnow
b) Daily interest working. Bank in 12.00 am
c) Duitnow working - Get rm8
d) Get rm20 for deposit more than 100
e) Pocket working- way better than rize- can add, delete, modify
f) Link with grab app and select gxbank as payment is working
g) Grab unlimited Plan - 6 month is working. Refunded after 1 day
h) statement - waiting for end of month
i) Notification via email is working on every activity
j) App is working smooth with passcode and fingerprint.
k) Easy to communicate with CS via chat. Responsive

Last month app ver 1.3.1. After a month - 1.4.9, Now hope malaysia debit card release soon as SG just release this week
Excited to wait for next features as been using grab since beginning
a) Grab wallet 20x point ....till now
b) Grab Maybank CC
c) Now GXBank....

Setback found:
a) No save account number when transferring out via acc number. cannot save favorite

This post has been edited by ericlaiys: Nov 27 2023, 06:42 PM

got RM20
got RM8
all interest come in daily at 23.59pm

I transferred rm100 via FPX on opening ac day , how to get that rm8 ? That rm20 bonus was Instant btw.


Thanks

set up your duitnow to point to your GX Bank

Thanks a million bro

a video is worth a million words
i like the embed Tiktok Video feature in forum

how?



tiktok URL = https://www.tiktok.com/@doitduit.hy/video/7...208500551322881
just take the number which is "7304208500551322881"

yea gotten my free rm28

I wished they had the QR code scanning function to pay

Duplicate forum- let move to https://forum.lowyat.net/index.php?act=ST&f=153&t=5416294

https://soyacincau.com/2023/11/30/gxbank-is...obox=1701333381

alamak no halal

what is the limit?

It's a bank.. shouldn't have limit.

Btw, you're billionaire?

This post has been edited by Natsukashii: Dec 2 2023, 09:03 PM

This bank no atm/debit card with visa suported? Hpw to apply card after login?

List of fund transfer bank like cimb/mbb etc not listed in the their favorite payee.. even shopee payment not accept gxbank yet?

What the hell.. useless bank?

got. i added mbb last week as fav. Dont add from app. do on website.
I even added from sc, hsbc, hlb, mbsb, pbb, uob, pbb. Some is not available on app. Shopee will support maribank (competitor) . So why they want to add gxbank? (may be later)

debit card cannot use mastercard? why must use visa? U just wait, it say coming soon. It is your choice, if u prefer visa, then dont apply when out. no one force u

One best option for visa use RIZE

i dont understand why people keep complaining like no shariah, visa, etc in forum & fb?

This post has been edited by ericlaiys: Dec 2 2023, 09:44 PM

No. I wish i were

At least you're a millionaire

Plenty of us is not even 100k (without including assets)

so..anyone opened? what is benefit compare to normal banks?

RM20 instant cashback with a deposit of RM100 or more.
RM8 instant cashback when you register your GX Account with DuitNow.
Up to RM29.40 (6x RM4.90) on your GrabUnlimited subscription as cashback when you link your GX Account on Grab.
Savings account with 3% p.a. daily interest. No minimum balance. No cap. No lock in periods.
Debit card with unlimited 1% cashback when you spend.

Thx for info..

I see.. mcm so little benefit.. plus its considered still a conventional bank since the 3% thing .

skipping this bank