Well, maximum daily limit can transfer 50k right. First 2 transactions not more than 50k.
3rd transfer < RM200 lol still pending...

Delaying of withdrawal even if it's a small amount to an already added as favorite account does not seem very proper for a bank. Sometimes we need the money urgently to pay for something. I hope they got a good explanation for this when being queried.

This post has been edited by Capt. Marble: Sep 4 2024, 02:12 PM

I don't know how many you transferred but AEON never hold any of my transactions except one bank that I set quick payments but it keeps holding and want me to call. Thankfully I'm not using it anymore.

Indeed! Payment still not going thru after 2.5 hours.

Still couldn't figure out the favourite accounts. No option during new payment transfer also. Can't add from Favourites listing also.

you got call the CS and ask them to approve it?

if got call CS should be resolved in next hour or so..

if didnt call CS then slowly wait also they might not call you

US banks used to practice Fractional Reserve Banking. 10% of depositors funds are kept as Reserves while 90% of deposits goes to Treasury Bonds or Mortgage Back Securities.

During launch & promo rates of Aeon Bank, how many % are kept as reserves while most of it likely went to Aeon Credit for loans. Let's say they only park aside 10% of all deposit collected but when promo ended then say easily 30% of initial deposit funds are being withdraw out to other banks. They wouldn't have enough reserves or liquidity. Apparently our banks are supposed to have higher reserves but again no clue what is the actual %.

For the favorite account, the option to "Save as favorite" only appears at the last screen of the transaction. If not mistaken, there were two buttons, the one on the right.

https://www.aeonbank.com.my/about-us

Scroll to the bottom for the financial statements.

This post has been edited by TOS: Sep 4 2024, 02:53 PM

70% under cash and short term funds. Short term funds would most likely be US T Bills as they are the most liquid. So they would still need to liquidate them in order to have funds if people are doing mass withdrawals.

lol cannot be US T-bills, they have to be MGS or GII.

In the worst case, the shareholder can inject cash into the bank to "replenish" the losses.

Ok could be other financial instruments they parked in locally as I only understand how the US banking system works from videos.

Any idea what is it?

One millionth customer ?

RM1 million giveaway ?

aeon bank tends to cross-promo with aeon credit ... probably 1million Aeon Points giveaway



This post has been edited by cybpsych: Sep 5 2024, 01:05 PM

I did call after 5.5 hours when the transfer still not going thru. They claimed that was system security check/validation to avoid fraud. Worst case is that the fund transfer was transferring to other own bank account also suspecting? It'll release within 24 hours as per their claimed. Isn't it is too slow and considering the "digital bank"?

At the end, the payment went thru around 10pm which transferring mere RM200 took 10 hours!

Will reconsider to keep the account.

expected to be more stringent due to nature of being a digital bank (non-physical presence), not a "zero policy bank"

if your daily usage is more aligned to traditional banking, it'd be best to use them instead.

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This post has been edited by cybpsych: Sep 5 2024, 01:07 PM

Again another sms and email received about Unusual Activity Detected on Your Account on transferring fund.

First payment gone thru right away but 2nd transfer, being blocked. I can say no more. Have to call them again this is really sickening.

It seems that GXBank interest rate will be adjusted to 2%p.a. starting 1st Oct 2024.

In that case, i do hope they will call and verify... just like how traditional bank work.
So much faster. Is not like the system can 100% check whether is fraud or not after taking so many hours to do it...