Not possible since it's sort of regulation from BNM. Yours is a normal saving account.

If you don't want to be charged RM 8 annually, you should opt for Basic Saving Account (BSA). BNM specifically demanded that all banks regardless local or foreign to offer two types of basic account with minimal financial charge - BSA and BCA (Basic Current Account).

Both accounts come with ATM card. More details on the accounts go to:

http://www.maybank2u.com.my/maybank_group/...ybank_bba.shtml

That's true. It depends on your account type.

1. Pay RM 8 annually for unlimited access of ATM withdrawal, over the counter services and standard RM 2 inter-bank fund transfer.

Or

2. No RM 8 is being charged but with limited numbers of ATM withdrawal and over the counter services. Plus the first 2 inter-bank fund transfers will be charged RM 0.50 and subsequent transfers will be charged RM 2. This will be tracked on monthly basis. Meaning it'll be reset in the next month and the counter restarts.

This post has been edited by David83: Feb 3 2008, 06:43 PM

BSA and BCA are regulated under BNM. All banks must offer them.



The banker at BSN doesn't know about it. It doesn't mean that the bank does not offer BSA/BCA. Most of the bankers are not aware of it. The same thing when I tried to open a BSA at CIMB. The receiptionst at the counter said that she never hear of such thing and luckily at the counter, there's this file that displays all the banking products offered by CIMB.

One needs to demand or inquire more before you open a saving account and let say that you really want a BSA. Tell the banker specifically that I want a BSA. Not other stuffs. If he/she doesn't know about the existence of BSA, ask him/her to refer to BNM Banking Info. It's a very valueable and powerful brochure. Some banks put this brochure in their branch. If not, demand to meet the branch manager and report to BNM.

This post has been edited by David83: Feb 3 2008, 09:37 PM

Account conversion is not possble as I did say this earlier. Usually you need to terminate the existing SA or cancel the ATM card that comes with the SA. You can open BSA on top of your SA.

Currently, I did that at CIMB but will close them soon since I'm frustated with the Internet Banking service.

---

Added on February 3, 2008, 9:47 pmThere's no reason for them to open for half day. We're talking about banking industry and they need to open their business in the normal working hours. I predict that the banks will have more people in this Wednesday as compared to normal days since all banks are going to close shop for at least 4 days from Thursaday to Sunday.

This post has been edited by David83: Feb 3 2008, 09:47 PM

Penalty of account closure is at the bank's discretion.

For BSA and BCA, account closure within the first 3 months will be penalized.



This post has been edited by David83: Feb 3 2008, 10:01 PM

I found a very interesting clause from Banking Info: