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Banking GXBank - First Malaysian Digital Bank (by Grab), UNLIMITED 1% cashback+3% p.a. interest!

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cybpsych
post Apr 3 2024, 05:51 PM

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QUOTE(batman1172 @ Apr 3 2024, 05:46 PM)
Ok. Decided to open GX bank.
I want to get the 5%. I can’t find the fixed deposit function. Where is it? 
Sorry old man here. Where do I find a branch if I want to talk to somebody ask them show me how?
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1) not yet started

2) not FD, also no FD function

3) create saving pocket

4) no branch. this is digital bank, remember?

user posted image
cybpsych
post Apr 4 2024, 06:56 PM

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QUOTE(batman1172 @ Apr 4 2024, 04:27 PM)
I can’t understand pocket and main account.? They both pay 3% and pocket isn’t a FD.
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it's called savings pocket for a reason. just for extra savings like a coin jar/bucket/pocket/piggybank/etc

do you call your bank savings account as FD? no, right?

maybe they will introduce eFD in the future, or maybe not.


here's how the fund movement between main account and saving pocket(s)

user posted image
cybpsych
post Apr 5 2024, 09:32 AM

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6. GX Raya Bonus Interest Campaign
Campaign period: 10 April 2024 to 9 May 2024
‍
Rewards: Earn 5% p.a. daily interest on the first RM5,000 end-of-day balances in each Savings Pocket.

Terms and Conditions
Effective Date: 10 April 2024
EN https://gxbank.my/docs/terms/GX%20Raya%20Bo...%20(100424).pdf
BM https://gxbank.my/docs/terms/GX%20Raya%20Bo...%20(100424).pdf

Frequently Asked Questions (FAQ)
https://gxbank.my/docs/terms/FAQ%20-%20GX%2...%20Campaign.pdf

user posted image

This post has been edited by cybpsych: Apr 5 2024, 12:01 PM
cybpsych
post Apr 5 2024, 09:40 AM

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QUOTE(Natsukashii @ Apr 5 2024, 09:36 AM)
So a person can earn 5% for 50k.. (5k on each pocket)
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read the t&c and faq yet?

let us know what you think? which t&c/faq not clear?
cybpsych
post Apr 5 2024, 11:26 AM

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done 10x pockets x RM5k each.
cybpsych
post Apr 5 2024, 11:30 AM

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QUOTE(batman1172 @ Apr 5 2024, 11:07 AM)
So if create pocket now of 5k will get 3% right? On 10th April will get 5% automatic. No need to uncreate pocket and re create?
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user posted image

This post has been edited by cybpsych: Apr 5 2024, 11:51 AM
cybpsych
post Apr 5 2024, 11:35 AM

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QUOTE(winmxbb @ Apr 5 2024, 11:34 AM)
not start 10/4?
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1) got placement capping, FCFS
2) dont mind start now, got 3% p.a. anyway
cybpsych
post Apr 5 2024, 03:11 PM

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QUOTE(poweredbydiscuz @ Apr 5 2024, 03:00 PM)
You guys take "every cent counts" to a whole new level.
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haha already known from the 1% gxcard cb calculation, they will round-down, so we are still losing, in some "sens" (pun intended) laugh.gif
cybpsych
post Apr 5 2024, 08:20 PM

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QUOTE(CyberKewl @ Apr 5 2024, 07:38 PM)
funny thought: u guys argue so much - could have save time by not arguing (just let is be the amount max out RM 5K X 10) and even u lose out a bit doesnt matter cos if u can do this - Can i buy back time with RM X? Would you? And its a small amount anyway..i not gonna crack my head or bother to read too detail the magic number etc, but interesting to see all the fun and complex calculations here LOL.
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we can validate the calculation on promo day2
cybpsych
post Apr 6 2024, 12:00 PM

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QUOTE(fruitie @ Apr 6 2024, 11:21 AM)
I just got my GXBank physical card yesterday and it mentioned I will need to perform one PIN transaction before can use the contactless feature. Is this a mandatory step or just a suggestive step? Based on real user experience? biggrin.gif

Many years ago, when contactless function was just rolled out, this step was needed but now no longer required, we can straight away tap for the first transaction.
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QUOTE(fruitie @ Apr 6 2024, 11:28 AM)
Nobody tried so far? So everyone just follows by using PIN for the first transaction? I’m surprised.
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my 1st txn was contactless at familymart. successful.

knew upfront about 1st TXN to be pin, but I still try nonetheless.

others here tried also, can do contactless for 1st txn.

QUOTE(ikanbilis @ Apr 6 2024, 11:31 AM)
[attachmentid=11494499]

I still think any interest of less than 0.01 will not earn interest based on the TnC above.

Anyway i am creating a pocket now with rm61 to confirm this.
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ehh thought someone tried already? gotten 0.01 interest today.
cybpsych
post Apr 7 2024, 12:30 PM

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QUOTE(kevyeoh @ Apr 7 2024, 12:20 PM)
I wonder if GX bank will update if the promo quota already full
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they are not obligated to inform

also their quota is based on placement (capital), which will derive into actual additional interest 2% budgeted for this 1mth promo.

however, they may just blast in socmed that target has reached, if they choose to do so.

This post has been edited by cybpsych: Apr 7 2024, 12:31 PM
cybpsych
post Apr 7 2024, 05:41 PM

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the moment you hit day2, 4941 magic would break... unless you keep pushing the daily interests out to main account, for all 10 pocket, every single day. lol
cybpsych
post Apr 7 2024, 05:47 PM

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QUOTE(Medufsaid @ Apr 7 2024, 05:43 PM)
actually when ramjade say max efficiency i was thinking of daily withdrawal of interest to KDI save @ 4% p.a.  laugh.gif laugh.gif

also, i won't do that yea... too troublesome for so little
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can also... just do it! hehe

but need to do it whole month, except weekends and Public holidays
cybpsych
post Apr 7 2024, 05:51 PM

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QUOTE(guy3288 @ Apr 7 2024, 05:48 PM)
you are right there
but those guys would tell you dont forget the gain from RM590 'saved'
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theoretical and academic discussion, yes lol

not even practical or feasible for mere 590 and daily interests movement
cybpsych
post Apr 7 2024, 07:52 PM

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QUOTE(Ramjade @ Apr 7 2024, 04:58 PM)
When is 5% promo starting?
Also max efficiency for amount is 4941?
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QUOTE(Ramjade @ Apr 7 2024, 06:03 PM)
When is promo starting?
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seriously, how many times need to ask?
cybpsych
post Apr 7 2024, 08:50 PM

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QUOTE(Ramjade @ Apr 7 2024, 08:27 PM)
No one reply. Nothing in app. That why ask lo. Chill la.
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if you ever read back guy3288's reply to you above ...

QUOTE(victorian @ Apr 7 2024, 08:36 PM)
For someone who is known to be very loud in advocating his sets of investment advice, I’m surprised you can’t google it yourself.
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lazy to read and find own info first
heck, even google search give the answer from multiple articles

QUOTE(Medufsaid @ Apr 7 2024, 08:42 PM)
victorian i tried to find it just now on gxbank site, can't find. have to dig back the PDFs in this thread
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gxbanks promo tncs are collectively published in campaign tnc page https://gxbank.my/campaign-tnc
cybpsych
post Apr 8 2024, 10:59 AM

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QUOTE(Lancer07 @ Apr 8 2024, 10:14 AM)
Yes, what will happen if I go back to buy groceries again?  biggrin.gif
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just go la

it's the acquirer bank's issue unable to settle it.

Giant's finance will need to dispute it back to their acquirer bank and they may attempt to recover the missed-settlement txn <-- and best part is, you can dispute this txn (if you're nasty or trying to fraud lah) because merchant is liable for the loss of sales due to late settlement/presentment; and likely you can win the dispute.
cybpsych
post Apr 8 2024, 12:24 PM

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QUOTE(ronnie @ Apr 5 2024, 09:30 AM)
https://gxbank.my/docs/terms/GX%20Raya%20Bo...%20(100424).pdf

Released !!

By participating in this Campaign, Eligible Customers agree and acknowledge that this
Campaign has a maximum capping of RM1,000,000,000.00 on the total placements received
(“Maximum Capping”) on a first come, first serve basis. GXBank strictly has no obligation to
inform Eligible Customers once the Maximum Capping is reached

The Base Interest and Bonus Interest earned by an Eligible Customer will be
credited in two (2) postings to each Savings Pocket, in particular as “Interest earned” (i.e. Base
Interest) and “Raya Interest earned” (i.e. Bonus Interest).
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QUOTE(ycktech @ Apr 8 2024, 12:12 PM)
Official Notice Out on the Interest 5%. It is called Raya campaign.

https://gxbank.my/docs/terms/FAQ%20-%20GX%2...%20Campaign.pdf
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few days late sweat.gif
cybpsych
post Apr 8 2024, 03:02 PM

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QUOTE(Ayambetul @ Apr 8 2024, 03:00 PM)
The 5% thingy is not only the money bank in 10apr, but before 10 apr also considered?
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what does the promo t&c says?
cybpsych
post Apr 9 2024, 11:56 AM

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QUOTE(Chiggah @ Apr 9 2024, 11:50 AM)
There is no limit of how much you can put in for pocket right ?
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no one has touched the ceiling

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