ON THE face of it, the recent launch of GXS Bank’s FlexiCard appears to be a positive move, with a new segment of the population now able to get their hands on a credit card.

There is no minimum income requirement of S$30,000 mandated by the Monetary Authority of Singapore to qualify for the card. This means that just about anyone could sign up for this credit card.

However, there is a S$500 credit limit, and customers can make a minimum payment plus S$5 to carry an outstanding balance on the card. A S$50 late fee is charged if the minimum payment is not met.

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So sad. I almost transferred all remaining balances out from GX to other digital banks liao.

This = RM 20++ pa more than others amount. Worth the trouble ??

Hi..my 20++ is actually ddt the original 2% interest you get regardless how much amount you put in. Its actually the additional 2% you are getting with the 1006.50 thing.
Anyway i actually see no problem for anyone to do that but just wonder izzit worth the trouble to earn the RM 20 more. Its not 2% more per se coz you cant actually have more than the 1006.50 in the account to get the 2%.

0.10% for local retail spend? wow, never see that was coming 

You received this through email?

0.10% for local retail spend? wow, never see that was coming 

You received this through email?

Great 1% on oversea still there. very useful when at oversea use. Local use , can use back cc

AI Chatbot as CS enhancement?



GXWrapped? Sounds interactive. Although, most of my spendings have been on CCs, not DCs - i wonder if they will introduce CC in the future.

soon to have annual fees

As GXBank celebrates its first anniversary, the company unveiled a couple of new features such as TeXnovasi and GXFlexiCredit. However, customers who have been using the GXBank debit card are wondering what will happen to the cashback. After all, the GX Rewards Experience is ending today and we have the answer.

According to Pei-Si Lai, Chief Executive Officer of GXBank, it is confirmed that the initial unlimited 1% cashback reward will be reverting to just 0.1%. In context, if you are spending a RM100 with the debit card, you will only get 10 cents back instead of RM1. Previously, GXBank also adjusted the 3% daily interest rate to 2% for both Main Account and Savings Pockets from 1 October 2024.

GXBank debit card users will probably not be pleased with this but it's still usable for foreign transactions. Customers can still have:

1% cashback on all in-store overseas spending
Zero markups on exchange rates
Zero fees for overseas ATM cash withdrawals
Zero fees on overseas transactions

On top of that, the debit card will still retain zero fees for MEPS ATM cash withdrawals, as well as zero annual fees and zero card issuance fees. Additionally, customers can still earn 1.5x GrabRewards on Jaya Grocer and 3x GrabRewards on overseas Grab spending. All in all, it still has some uses for overseas.

Starting with GX FlexiCredit, this new feature will roll out progressively from November 2024 onwards to Malaysians. Eligible Malaysians who meet the requirements can get instant approval of up to RM150,000 credit limit within minutes and disbursement. This feature can help customers with the flexibility of getting immediate cash drawdown (with interest only on the drawdown amount) with zero fees if they choose to settle repayment early.

Additionally, in line with the government's Belanjawan Madani 2025 intent to help close the financing gap for MSMEs, GXBank’s GX Biz Banking aims to be a one-stop solution for the business community to open an account and have more convenient access to financing support. Similarly to a retail GX Account, GX Biz Account offers the first fully digital onboarding for businesses and daily interest payouts. With GX Biz Account, micro-entrepreneurs can seamlessly apply for the GX Biz FlexiLoan via the app and if qualified, receive instant approval for a credit line of up to RM150,000.

Business owners will also have the option of a flexible loan tenure of up to three years, and the flexibility to make early repayments without any additional fee or interest.  Beginning with merchants in Grab Malaysia’s ecosystem, GXBank aims to roll out GX Biz Banking to small businesses across Malaysia by the first quarter of 2025.