From 8AM cannot DuitNow to Rize... after 10AM it works.,

Hmm, new account number before switch, take note in case you save your Rize account as favourite.

who won the BYD Dolphin from Rize ?

Rize/Alrajhi staff

This post has been edited by Optizorb: Feb 26 2025, 11:27 PM

new account number - why!!!
i like my current account number

Because Rize fully integrated into Al Rajihi Bank platform...

No more sperated like now...

After the "change" & "upgrade"...
Rize account users all use al Rajihi Bank apps...

Icic make sense

Hope There is a transition where you can still use the old a/c no where in the back end it will tag to the new a/c no. Not everyone will remember to update

This post has been edited by leanman: Feb 27 2025, 09:21 AM

It's also to reduce misunderstanding that rize is digital bank licensee that given by BNM

They only given 5 digital license & al rajihi is not one of it...

so rize not a digital bank and with the new bank account number we can go to alrajihi do banking stuff?
can deposit cheque?

wow, thanks for the explanation.. so, moving forward no more Rize app?

How to explain...

Rize works like digital bank but it's not officially license by BNM... They ride on parent Al Raijhi bank license to operate digitally....

Previously it's sperated from the parent Bank... With different people, CS, apps & all...

But now, looks like they could be integrated into 1 super apps 😁

As for cheque deposit... I'm not very sure... Need more information...

Dangerous answer.

Rize is a digital bank by Al Rajhi bank, a fully BNM licensed bank in Malaysia — and it enjoys all the feature a normal bank has, such as PIDM coverage.

It is a different license from the 5 digital bank license.

Think of digital bank license as B2 motor license. Normal bank license as B full motor license.

Both valid, but got different limitations.

Rize app is still shit. I hope the Al Laji app is better. The change of account number is quite bad for people who use it for salary account or business — damn mafan to update.

This post has been edited by Jason: Feb 27 2025, 03:44 PM

One reason why they are doing this, Rize doesn't have enough users to sustain as a separate division, operating two apps at the same time cost more money, hence absorbing everything into one is the way to go, same thing happened to Affin Bank and A1addin.

Rize failed to gain traction over the years and they are too selective in choosing which group of people to use their banking services. Fun fact: If you're self employed like Grab/Foodpanda rider, you'll get rejected automatically

Purpose of digital banking is to serve the underbanked community, Rize & Alrajhi is doing the opposite lol.

I did not know they auto reject Grab and foodpanda rider. Oh well, Rize don’t need to serve unbanked, their parent is super rich. But the whole exercise has been stupid… and the product sucks.

All banks also want to serve wealthy customers. lol. Malaysian banks all too kaya, nobody hungry for business.

That's the problem, there's a big chunk of population who are underbanked and they are also from B40 category

Main purpose of digital banking is to make deposit and loan services easily accessible to these people, first you lure them to deposit more money from their ordinary bank account for high interest rates, next you lure them into applying for personal loan like instant credit

That's what GX and Boost Bank are doing, and you'll see Ryt Bank and KAF doing the same soon

Rize on the otherhand was betting big on wealthier groups instead of small fry, but what they didn't know is wealthier people usually have better alternatives and they won't even bother about getting personal loans frequently, even those big whales who bank with Al Rajhi won't even waste their time on Rize.

I wonder if Bank Islam Be U going to combine but what I saw they have a better management on Be U even with separate teams. They keep making it better like investment account, FD/TD and soon personal financing which is loan.

Rize should see how other bank did. Even berudu bank now getting better, I guess rize is better to combine now.

This post has been edited by ronnie: Mar 5 2025, 10:08 PM

Just to confirm with everyone, Rize app only credits interest on the first of each month? And not daily interest like other similar apps? This is what the CS told me.

This post has been edited by ThE-1cY: Mar 7 2025, 12:27 PM

yes. was never daily.