Because of this Off Topic discussion over in Rize thread...

Gotten locked up by lowyat mod / admin...

Who ask go talk about UOB in Rize thread

Now better not OT for GX bank thread too

This post has been edited by nexona88: Apr 12 2024, 05:27 PM

Too bad LHDN doesn't recognise Gxbank yet. Would be awesome to receive income tax refund using gxbank seeing that you can keep 0 sen inside and no fees.

Maybe next year will be recognised by LHDN.

tie your nric as duitnow id for gxbank?

When scroll list of approved bank, no gxbank options seen.

not credit to bank

you do know there's another refund channel option, right?

yup. i just used at thailand. rate same as xe and waived markup. best is get cashback after 2 days. prefer use this vs wise or sc jumpstart

make no diff. just withdraw and deposit into gxbank

No I don't know. I only know got update bank account on LHDN website.

Besides I never activate duitnow until today. So if you suggesting to use duitnow for LHDN, I am not keen. I prefer old school direct transfer into my account.

No la. You don't understand. Maybank got some issue. Cannot link with Mae cause it's basic savings account and I already have my islamic account link to Mae.

So close the basic savings account and plan to use gxbank to receive next year income tax refund.

No such option to use gxbank inside LHDN list of banks.

This post has been edited by Ramjade: Apr 12 2024, 09:41 PM

yeah 5% vs 3.8% only 30days

me still using Rize.
waiting for sspni to produce something better 4.8% or more


bro
are you sure there?
with 8 decimal precision you can get 0.00500017?

if at 14 you are down to 0.00499999981
at 8 decimal i expect you to be down ever further.


YES!

calculator is wrong because it has truncated many numbers behind for ease of daily use.

And if multiplied many times, eg by RM61 or RM4941...
the number can be different
slight difference

Don't know where to park my daily RM6.8. lol. Maybe leave it inside Gx only.

Donate it out.... to

firstly 3% / 366 = has unlimited amount of decimals.
if you allow your calculator to go up to 1000 decimals, it will show you 1000 decimals.


most programming languages have pre-defined amount of decimals to take. precision 15 in this case.
and to take up to 15 decimal points only, means the rest got truncated and rounded up/down.

the first 16 decimals of 3%/366 = 0.0000819672131147
to make it 15 decimals, the 16th decimal gets rounded (up in this case)

15 decimals = 0.000081967213115
11 decimals = 0.00008196721

in deciding to use 11 or 15 decimals for the calculation, will yield different results, and in our case, it has consequences that affects the final outcome for us.

if we take 15 decimals:
0.000081967213115 * 61 = 0.005000000000014999

we can leave behind the rest of the decimals as only the first 3 decimals are important in deciding whether GX pays out that interest.
and in this case, by using 15 decimals, the end output would be 0.005
When you round it according to GX's conditions. You get 0.01 and thus eligible for the minimum payout of at least 1 cent.

if we follow GX documentation, they take 11 decimals in their calculation examples:
0.00008196721 * 61 = 0.00499999981
leave behind the rest of decimals as we only look at first 3 decimals when determining the payout.
and in this case, by using 11 decimals, the end output would be 0.004
Again, round it according to GX's conditions. You get 0.00 and thus the minimum threshold is not achieved and hence no payout.

for your reference 8 decimals gets you: 0.00008197 * 61 = 0.00500017, 0.005 and this would be eligible for the payout after rounding

and finally, all this ties up to the kerfuffle the other day regarding the payout which GX gave.
The way they pay it out implies heavily that their math is funny.

Firstly take a look at this for 4941.00 deposit:


If you follow the 11 decimals which GX used in their documentation, there is no way 3%/366 * 4941 will get you 0.41.
11 decimals gets you: 0.40499998461 = 0.40 payout


So how did it show up as 0.41?
Because 15 decimals was used (just like in their main 3% calculation which enables RM61 to get 1 cent payout. and since this 3% is directly paid out like normal, so it makes sense here 15 decimals was used too)
15 decimals gets you: 0.405000000001215 = 0.41 payout


Now the tricky part comes in with their 2% bonus. and because their bonus is calculated as such 5% - 3% = 2%
If the decimals were consistent throughout when calculating the 5% portion and the 3% portion, the 2% portion will always get you 0.27 for 4941.00
It doesn't matter you used 11 or 15 decimals. So long as you stick with the same amount of decimals each time!


So how then did it show up as 0.26?
The answer: quite simply, GX cocked it up by not being consistent in decimal usage for their calculations.
We already know from above that their 3% main portion was calculated using 15 decimals, despite their documentation examples showing them calculate using 11 decimals only.
Since this raya bonus is a new thing, what if then the 5% portion was calculated using 11 decimals just like in their documentation, while the 3% portion remains with the 15 decimals as it has always been the case?
You get:

Mystery solved.

Now if GX hadn't cocked it up like this and they used the same 15 decimals to calculate the 5% portion just like they do with the 3% portion, then 4941.00 will absolutely be able to get you 0.68 payout.
Because of this cock up, you need 4941.01 in order to get 0.68 payout.

Salute you for writing so long.

Yeah, I'm sure. Less (or more) precision just affects accuracy, it doesn't make a number larger or smaller.

good job

Accuracy increases with bigger decimal numbers included

but something still asking in me.

since use only 2 or 3 decimals we could be 'wrong'
or 'quite off' from the real answer

use higher 15 decimals or higher
we would be closer to the real answer

say the real answer is X , with as many decimals as you can use

as we use more and more decimals,
shouldnt we be moving in 1 direction
in getting nearer and nearer to that real answer?



this is not as i have envisioned above
it is not moving in 1 direction

it can move forward getting nearer to X
but can also move backward ie
away from the real answer with higher decimals.

accuracy can drop also with higher decimals in use?
due to the rounding up effect
and amplified by multiplication x 61?

Why grab do not allow grabpay to directly transfer money to GX Bank account?

They don’t charge for cc topup thus ppl will abuse the function to cash out from cc

here's the formula:

grabpay = ewallet

gxbank = bank account

grabpay --> gxbank = ewallet --> bank account


you think?

I think this is wonderful idea that provides major convenience to their targeted customers Even better if they provides points when we reload with CC and provides points again when we transfer from ewallet to bank account.