Hopefully debit card is not necessary.

haha sounds like plenty of issues just like Rize when they just started. Again we're the guinea pigs

Anyone noticed there is issue changing daily transaction limit? Can transfer 50k in but can't transfer out 50k lol

There seems to be a lot of updates for their app. Hopefully they resolve their issues soon. So far I've only transferred money in.

Isn't this the last week for their promo rate and no update for rates next month? Most banks FD rate about 3.6% so I'm guessing they will follow too.

maybe they are preparing for mass exodus of funds in a few days

Aeon & GXB both offer 3% so I'm contemplating if I should even maintain Aeon or just close the account as GXB more stable.

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 %.

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.

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

Since they have updated rates to 3% in Savings Pots while main account only 0.88%. I'm assuming most would park in Savings Pots while leaving the minimum of RM20 in main account. So lets say if you have scheduled a transaction, would it auto deduct from Savings Pots or would the transaction fail?