Samsung Galaxy Note 20 Celebratory Launch Promo: Free UV Steriliser, Wireless Charger, And A Chance To Walk Away With A 50" 4K TV

Samsung Malaysia has announced a Celebratory Launch Promotion for the Galaxy Note 20 series that will kick off from 21 August 2020. Malaysians who purchase a Galaxy Note 20 or Galaxy Note 20 Ultra will receive freebies worth RM508, while early bird customers can even walk away with a 50″ 4K TV worth RM2,599.

In lieu of the usual nationwide roadshows that are usually held as part of a flagship Samsung launch, the Celebratory Launch Promotion will allow less physical interaction while still rewarding customers who purchase the device. From 21 August until 31 October 2020, all Galaxy Note 20 and Note 20 Ultra purchases will come with a complimentary set worth RM508 comprising of a Samsung UV Steriliser With Wireless Charger as well as a Samsung Wireless Charger Convertible.

Besides that, Samsung is again offering early birds the chance to walk away with a Samsung 50-inch 4K TV worth RM2,599. Naturally, the mechanics of this early bird promotion has been tweaked to reduce physical interaction: where previously Samsung only offered the free TV promotion to early bird customers at its roadshows, the company is allocating 1,200 units to the first Note 20 owners who activate their device and submit their proof of purchase through the Samsung Redemption Management System. The portal will be open for submissions from 23 August 2020 at 10pm until 11:59pm, 27 August, but redemption eligibility will be on a first come, first served basis – so if you’re keen, you’ll need to be fast.

On top of that, those who purchase their Galaxy Note 20 devices at participating outlets will also be eligible to get a 20% discount for Samsung-branded cases for the Note 20 series. Each customer is eligible to purchase two cases at the discounted prices with every Note 20 purchase.

Finally, Samsung is also offering its usual trade-up programme for the Galaxy Note 20 series. Depending on the device and its condition, customers can trade up their old devices and get a rebate off a brand new Galaxy Note 20 – the full list of devices can be found
here
.

In any case, the official pre-order window for the Galaxy Note 20 series is still open, and will only close midnight tomorrow (20 August 2020). That means you still have a chance of enjoying both the
pre-order freebies
 worth more than the launch promo freebies, and still get a chance to win the free 4K TV.

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Pang Tun Yau

Pang Tun Yau

A seasoned tech journalist who now focuses on his other passion, Pang is a firm believer in old-school DCA and optimised spending.

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Should You Be Roommates with Your Best Friends?

If you’re a student or fresh graduate living in the big city where rent is high and owning a place is still next to impossible, renting a room or a house together with several other people in a similar position is often the next best option. Sometimes, these people are your own best friends whom you’ve known for a while.

You might think that living with your friends is going to be all rainbows and butterflies, but that might not entirely be the case. There are both benefits and downsides to sharing your living space with friends and in this article; we’ll try to cover them as thoroughly as possible:

Firstly, the pros:

1. Sharing rental and utilities

Sharing a home with others means that you don’t have to shoulder the burden of paying your monthly bills alone as things like electricity, water, and internet can be shared out equally. In the same way, you will also not need to shoulder the rental costs of the room by yourself and can cut down your expenses further.

2. Safety in numbers

Living with close friends means that you’ll feel safer and more secure as you know one another and trust each other. It also means that they will care for your safety in case there is a break –in or crime of any kind.

Also, in the case of medical or any other emergencies, your friends are around to render help, even simple things like sending you to a clinic if you feel unwell in the middle of the night.

3. More people to share the chores

Having a roommate means that chores and cleaning tasks get done faster. You and your friends may even choose to organize a weekend spring cleaning session every once in a while to make sure the place looks spic and span.

Now, the cons:

1. Less privacy

Trust is an important component to any friendship, and sharing a room means that all your personal belongings are there for your room mate to see. This includes personal things like diaries or even valuables. Some people are not okay with this and struggle with having their private possessions and choices out in the open.

2. Your Friend May Not Live up to Your Standard of Cleanliness

If you are a very neat and tidy person, but your roommate is on the more disorganized side, or vice versa ,this may lead to a lot of conflict. Therefore, you either have to learn to reach a compromise, or accept each others’ habits fully.

3. Financial Disagreements

Being roommates with your best friend can actually bring out the worst in your respective selves, especially when it comes to financial matters. Some things like rental charges are pretty straight forward, but sometimes conflict arises when one is convinced the other uses more electricity, water or the like and refuses to pay the stipulated amount.

Being roommates with your best friend is therefore something you should consider carefully, as living with a person is somewhat different from seeing them occasionally.

All things considered, as long as it’s approached in a mature manner, things will be fine. If and when you’re ready to buy your own home, don’t forget to compare the available home loans
here
 for the best deals. Have anything to add to the article? Share your thoughts with us in the comments section down below!

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OCBC Bank Introduces OCBC OneCollect, Malaysia’s First Cross-Border QR Code Payment Service

OCBC (Malaysia) Bhd has rolled out OCBC OneCollect, Malaysia’s first merchant cross-border quick response code (QR code) collection service. Through this service, those who use the mobile app of banks participating in Singapore’s PayNow ecosystem can now make QR payments to OCBC merchants in Malaysia from their Singaporean bank accounts.

Singapore’s PayNow is essentially the equivalent of Malaysia’s DuitNow. Both PayNow and DuitNow are inter-bank money transfer services that link your bank account with a more commonly used identification number instead of your bank account number. These could be your IC number, mobile phone number, business registration number, and so on.

OCBC OneCollect will benefit both Singaporeans visitors and Malaysian merchants as it offers a more seamless and safer cashless payment option.

“As an example, when someone from Singapore purchases durians from a shop in Johor and wishes to make payment, they can do so seamlessly from their own bank accounts directly through the OCBC OneCollect QR without having to go through the fuss of changing their currency beforehand,” said the managing director and head of global transaction banking of OCBC Bank, Chong Lee Ying. He added that Singaporean buyers can expect the currency conversion rates applied to their purchases to be as good as those offered at money changers, if not better.

On the part of Malaysian merchants, they will not have to open a foreign currency account to receive payment from the Singaporean buyers. Instead, they will get their settlement in the local currency. Additionally, merchants can expect to receive their payment within two working days after the transaction is completed. This is much faster compared to other cross-border settlement options, which may take up to 14 days, thereby reducing currency exchange risks and fluctuations.

Chong added that OCBC OneCollect will likely benefit Malaysian businesses that operate in high volumes of low-value transactions. This includes those in retail, health and wellness, as well as food and beverages.

According to OCBC Malaysia, the bank will first focus on selected merchants in Melaka and Johor before expanding in the second quarter of the year. It also plans to grow its existing pool of 3,000 merchants in Malaysia to 10,000 by 2021 by enhancing the OCBC OneCollect service at a later stage.

While OCBC OneCollect may be the first cross-border QR code collection service between Malaysia and Singapore, it is not the first payment option to offer a cross-border function. At the end of last year, Malaysia’s PayNet and Singapore’s NETS had collaborated in an effort that lets that enables citizens from both countries to make
cross-border payments with their ATM cards
.

(Source:
The Star
)

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Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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5 Mobile Apps That Can Help You with Better Financial Management

There are plenty of apps out there that claim to help you with your finances but the sheer number of them can be overwhelming. Not only because each app will have their own specific uses and features, but also because there are many different ways to manage your finances from budgeting your expenses, to looking for discounts, to streamlining your banking transactions.

We’ve narrowed down five mobile apps that can help you in five different areas of financial management. These apps are all available for both iOS and Android unless stated otherwise.

1. Money Lover for Budgeting

Tracking your expenses is an essential part of managing your monthly budget and
Money Lover
 helps you do just that. It has all the basic functionalities of a budget app like sorting by category, receipt scanner, notifications for recurring transactions and an easy-to-use widget so you can input your expenses as you make your purchases, quickly and easily.

The interface is colourful and welcoming with cute icons and it even plots out a graph of your spending habits so you can have a clear and visual idea of how much you really spend. It also has extra features like adding notes to your transactions for easy searching, a currency converter and goal setting to help you save up for a big expense or pay off your debt.

2. Fave (formerly Groupon) for Discounts and Deals

One great way to trim down your expenses is by staying current on all the promotions, slashed prices and sales that are out there. To do this you should check out Fave. If you’re already an experienced bargain hunter, you’ll already be familiar with how Groupon used to work. The discounts are often only offered to people in groups.

Fave works only a little bit differently in that it will show you deals and discounts, but this time you don’t even need to redeem them in a group. You just launch the app, search for something you want and Fave will tell you if you can get it for a promotional price or discount. Handy.

3. SmartShopper Malaysia for Finding the Best Price for Groceries

While it’s good to know where to get discounts and promos, it’s even more essential to know where you can get the best price for items when there isn’t a promotion happening at all.
SmartShopper Malaysia
 helps you do this by showing you the cheapest price for whatever item you want and where to shop for them.

You don’t even have to pick each item one by one, you can list out your groceries and simply let their ‘Savings Planner’ function advise you on the best retailer to shop with for the cheapest total price. The only catch is that they only do this for groceries and everyday items like household care products, toiletries and such.

4. Your Bank’s Mobile App for Banking Transactions

If the bank you’re using has their own mobile app, we recommend you at least try it out. One obvious reason is that of course it’s much easier to do your banking via your phone rather than queuing up at the actual bank building.

But your mobile banking app also offers additional perks like built-in security features (like fingerprint ID), they load faster than mobile web versions of regular banking websites, and they also usually notify you of special promotions offered by the bank. It’s faster, safer, and more rewarding. Win-win.

5. The CTOS App for Checking Your Credit Score

We’ve covered the importance of having a healthy credit score before, and part of maintaining a healthy one involved checking up on your report every so often. One easy way to do this is via the CTOS mobile app available for both
iOS
 and
Android
 devices.

In case you aren’t familiar with CTOS, it’s a credit reporting agency that helps to compile and provide credit information in Malaysia. It offers the MyCTOS Score report – a comprehensive credit report that can help you understand your credit health better and help identify the areas you need to work on to improve your creditworthiness.

A MyCTOS Score report contains your personal details, CCRIS records, directorships, legal action records, the number of times you’ve been searched, as well as your CTOS Score – a credit score that ranges between 300 (lowest) and 850 (highest).

You can find out more about MyCTOS Score report and sign up for your CTOS User ID at
ctoscredit.com.my
.

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MATTA Fair Moves Online For 2020, To Focus On Domestic Travel Deals

The Malaysian Association of Tour and Travel Agents (MATTA) has announced that the MATTA Fair Online will take place from 9 to 15 September 2020. After postponing its usual physical fair this year, the online fair is a new initiative for MATTA members to sell their holiday packages for both domestic and future international travel.

MATTA President Datuk Tan Kok Liang said that exhibitors will be giving their best deals including value-added services at special rates and bargain prices, with the offerings in line with the current domestic travel demand.

“Consumers can look forward to many holiday and travel packages with a range of niche products and product updates,” he said.

(Image: Malay Mail)

Datuk Tan also said that they are working hard through the MATTA Fair Online despite the challenging conditions of the Covid-19 pandemic, collaborating with potential sponsors and partners including Tourism Malaysia, Malaysia Airlines, Penang Global Tourism, Malaysian Association of Hotels, Malaysian Association of Amusement Theme Park and Family Attractions, Association of Malaysian Spas, Boost, IPAY88, and other state tourism offices.

MATTA is currently inviting its members to participate as exhibitors in the online fair, with registration open until 10 August.

(Source:
Malay Mail
)

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AmBank Hints At Launch Of A New Credit Card For Priority Banking Clients

AmBank has hinted at the launch of a new credit card set to launch two weeks from now, on 3 November 2021.

Sharing the announcement on Facebook and Twitter, AmBank only posted a short and cryptic message to accompany the teaser image: “A new light. The new horizon. Arriving 3 November 2021.” Additionally, the post is tagged under #AmBankSignaturePriorityBanking and #prioritybanking – among various other tags – which suggests that the new card will likely be a premier banking product.

At present, AmBank offers only one credit card product under its AmBank Signature Priority Banking services, namely the AmBank Signature Priority Banking Visa Infinite credit card/-i.

Aside from this teaser, AmBank has shared no other information on its official website or YouTube channel, but we will update this article when we find out further info.

(Source:
AmBank
)

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Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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SSPN Announces 4% Dividend For 2020

A dividend of 4% has been declared for the National Education Savings Scheme (SSPN) scheme for the year 2020. This makes it the sixth consecutive year that SSPN has been paying out a 4% dividend to its depositors.

In a statement today, higher education minister Datuk Seri Noraini Ahmad announced that the total dividend payout is an estimated RM201.3 million. This will benefit 4.82 million SSPN depositors.

“This distribution is made possible by the net return on investments made on deposits received by the National Higher Education Fund Corporation (PTPTN),” said Noraini. In 2020, SSPN earned an investment profit totalling RM237.42 million – an increase of 15.7% from RM205.28 million in 2019.

(Image: Malay Mail)

“This achievement is the result of PTPTN’s efficiency in implementing short and long-term shariah-compliant investment methods in the local money market which protects the principal while providing high and positive returns or profits,” she said.

According to the minister, SSPN deposits rose to a record high of RM1.99 billion last year, an increase of 45.6% or RM623.82 million from RM1.37 billion in 2019. This brought the total amount of SSPN deposits to RM7.88 billion as at the end of 2020. Furthermore, 436,101 new SSPN accounts were opened in 2020, bringing the total number of accounts to 4.82 million since the SSPN was established in 2004.

(Source:
Free Malaysia Today
)

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Govt Tables Bill To Provide Housewives With SOCSO Protection

(Image: Bernama)

The government has tabled the Housewives’ Social Security Bill for the first reading – which if eventually passed – will allow housewives aged below 55 years old to enjoy Social Security Organisation (SOCSO) coverage for RM10 per month.

Under this bill, the SOCSO coverage will be provided via a voluntary scheme called the Housewife Social Security Scheme (SKSSR). Specifically, housewives who contribute to the scheme will be entitled to a range of benefits, including:

Up to RM30,000 permanent disability benefit
Up to RM50,000 coverage for physical rehabilitation due to injuries
RM250 monthly allowance for housewives who require constant aid following injuries (constant attendance allowance)
RM200 monthly allowance for dialysis treatment (end-stage renal failure)
RM2,000 one-off funeral benefit

Husbands will need to pay a yearly contribution of RM120 per housewife in advance to SOCSO for a 12-month coverage (RM10 per month), which can be made through deductions via the husband’s employer. Alternatively, housewives can also choose to make their own contributions if they so prefer.

(Image: Bernama)

Human Resources Minister Datuk Seri M. Saravanan – who tabled the bill – also clarified that husbands who have voluntarily registered for SKSSR but fail to make the contribution will face a fine of RM10,000. However, this can be avoided if he informs SOCSO beforehand and explains the reasons for his inability to contribute (such as loss of income and so on).

Additionally, Datuk Seri Saravanan said that insured housewives who contribute to SKSSR will continue to be covered in the event of a divorce or the husband’s death. Similarly, if the husband is unable to pay contribution due to loss of income or other reasons, she will also be covered until the expiry of her contribution period.

The Housewives’ Social Security Bill and the SKSSR were both highlighted last year following a
Cabinet decision to provide housewives with social security protection
 against domestic incidents, including accidents, diseases, and deaths. He noted back then that 150,000 housewives from poor households and those below the poverty line will be covered by the government, while participation is voluntary for others.

(Sources:
Malay Mail
,
The Star
)

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Alex Cheong Pui Yin

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Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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Maybank's MAE App Is Now Available For Download On Huawei AppGallery

Maybank customers now have more avenues to download the MAE by Maybank2u (MAE) app as it has been made available on the Huawei AppGallery platform as well.

“Calling all Huawei users! The wait is finally over and you can now download the MAE app from the Huawei AppGallery. Welcome to a world of a-MAE-zing benefits from tracking your spending, boosting your savings, making cashless payments, enjoying exclusive cashback promotions, and more,” the bank shared in a Facebook post today. Prior to this, the MAE app was available for download only via Google Play and the App Store.

Maybank had
launched the MAE app back in October 2020
 as a versatile app that lets you perform various banking matters conveniently from one place, including mobile banking and QR payments. It also boasts new features for better financial management, such as Tabung, a function to help customers save more consistently and regularly, as well as Expenses, an expense tracker. Furthermore, there are various exclusive cashback campaigns and promotions that you can tap into, and it also comes with
a MAE debit card
.

If you’d like to download the MAE app from Huawei AppGallery and try it out,
head on over here
 to do so. Alternatively, you can visit
Google Play
 or the
App Store
 to get the app for free.

(Source:
Maybank
)

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How a No-Collateral SME Loan Can Help Grow Your Business

Starting a business from scratch without the right business loan in Malaysia can be difficult if you do not have the right connections and adequate funding to work towards your goals. You may have read up on stories of entrepreneurs who succeeded in gaining funding without relying on small business loans, approached banks in Malaysia and wealthy investors with their products and ideas as a bid to secure a capital injection to help with their business endeavours and thought about doing something similar.

Truth be told, not everyone is blessed with the opportunity to present their business proposal or even meet these investors in person. In fact, there’s a high chance that you would need to tap into your personal funds, especially when you are a budding entrepreneur who are looking to start or grow your existing business with a start-up business loan but don’t have collateral that you can utilise, you may want to read on to find out how you can get your business funded by SME banks in Malaysia and obtain the right bank loan for business.

But First…What is Collateral?

The term collateral refers to a property or asset that a borrower offers to the lender as a part of the process of securing a loan. In the instance that the borrower defaults on the loan payment, the lender is then given the authority to seize the collateral proposed by the borrower to recover the losses sustained. When you are applying for a secured loan, you will need to provide an acceptable collateral in return for the loan that you have applied for.

Among the things that you can use as a collateral include real estate property such as your home, car, bonds or even inherited land (on a case-to-case basis) and for the application the secured loan to receive approval, the value of the collateral must meet or exceed the amount remaining on loan.

Help, I Don’t Have Collateral! What Are the Other Options That Are Available?

If you are a proud owner of a SME business, no worries if you do not have a collateral that you can use to apply for a business loan, you can then opt to apply for other methods of funding instead. Compared to a secured loan, you would not need to provide a collateral but there are a few pre-requisites that you will need to have in order to qualify for the options that are listed below:

Micro Financing Schemes

Microfinancing refers to
 small business loans
 ranging from RM500 to RM50,000 for micro-enterprises. Although microloans are smaller than traditional bank loans, they have much higher interest rates as it falls under the category of unsecured loan. Having said that, don’t let the SME bank loan interest rate discourage you from applying as some can be as low as 3.75% to 7.5%, depending on funding sources. There are a number of banks who offer micro financing schemes such as:

• Agrobank

• Bank Rakyat

• Bank Simpanan Nasional

• Alliance Bank

• Ambank

• CIMB Bank

• Bank Muamalat

• Maybank

• Public Bank

• United Overseas Bank

Grants

You can apply for the many grant schemes offered by the Malaysian government to start or grow your business. You do not need to provide collateral to qualify for grants. Usually, you would not need to repay the grant also in exchange for the deliverables that you produce.

However, you will need to work on a tight timeline and be in touch with the provider of the grant constantly so that they are aware of your venture’s progress. Keep in mind that failure to meet the preset milestones may incur heavy repercussions (such as halting the release of your funds or in some extreme cases, revoking your access to the grant).

Seed Funding

This refers to the act in which an investor provides capital to the borrower in return for an equity stake in the company. The aim of seed funding is to support a business in its initial stage until the business can sustain on its own or generate a return of investment to the lender. Seed funders can come in many forms such as family members, angel investors, and even crowdsourcing.

In some cases, seed money may arrive from financial bootstrapping which refers to the utilisation of an existing cash flow to support the venture.

Guarantee Schemes

Guarantee schemes provide loan guarantee to small and medium enterprises to help them secure loans from the participating financial institutions for obtaining business equipment and systems or meeting working capital needs for business administrative uses. Generally, a guaranteed loan does not require you to have collateral unless specified otherwise.

Is There Anything Else I Should Know?

Even though these methods of funding do not require collateral from you, there are a few things that you must take note of in order to ensure that your
 personal loan application
 process goes on smoothly. You will still be judged on the 4 C’s of credit – character, capacity, capital and condition which will be used to assess your creditworthiness as a borrower.

All the best in your future undertakings!

Are there any other collateral-free business funds that you would like to add to the list? Share with us your thoughts and comments in the comment section below!

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Grab PayLater: A Monthly Statement For Your Grab Transactions

Grab’s latest feature is now rolling out to more users. As its name suggests, PayLater allows you to use Grab services and pay for them at a later date. With this feature, you don’t have to pay for your Grab transactions when you use them – they will all be consolidated into a single bill that you can pay off the following month.

PayLater is available to eligible Grab users based on factors like how long they have been using Grab, the number of rides taken, their GrabRewards tier, and so on. Each Grab user on PayLater is given instant access to a pre-approved PayLater credit and this amount varies based on one’s user profile.

Once you activate PayLater, it will be automatically selected as the primary payment method for Grab rides, GrabFood orders, and GrabExpress deliveries – although you can change your payment method at any time. There are no fees for using PayLater and the charges will be added automatically to your PayLater usage for the month. You can track your PayLater usage under the “Payments” tab, where you can view your outstanding and available amounts as well as settle your PayLater bills.

All PayLater users will be sent a bill on the 1
st
 day of the following month. You have until the 7
th
 of each month to make your payment and reset your PayLater balance. Payment can only be made by using your GrabPay wallet – which of course can be topped up with the normal cards and online banking.

If you do not make the payment by the due date, your PayLater service will be suspended until you pay up and you will be charged an admin fee of RM10 for the suspension. The app doesn’t currently allow you to use PayLater or settle the bill when you are outside of Malaysia, so those who are late in payment for this reason can request a waiver of the admin fee.

While Grab refers to PayLater as a “postpaid service”, the feature does act almost like a line of credit for Grab users to defer payment for up to a month – traditionally a credit card feature. However, do note that you can only use PayLater for Grab rides, GrabFood, and GrabExpress deliveries. The rest of Grab’s suite of available services are not eligible for the PayLater scheme.

(Source:
Grab
)

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GoPayz, UnionPay Roll Out Contactless Payment Option For NFC-Enabled Phones

GoPayz, the e-wallet developed by U Mobile, has collaborated with global payment network UnionPay to roll out a new contactless payment option for NFC-enabled Android phones. GoPayz’s Tap & Pay is accepted at stores that offer the UnionPay QuickPass service, allowing users to quickly pay for their purchases with a “tap and pay” function using their virtual UnionPay card on the GoPayz app.

To first activate the Tap & Pay mobile payment service on your phone, click on the Tap & Pay icon in your GoPayz app and register your UnionPay card. Once done, you can start using Tap & Pay to pay for your purchases.

When making payments with Tap & Pay, don’t forget to enable NFC on your phone. Then, tap on the Tap & Pay icon in the GoPayz app, key in your 6-digit GoPIN, and put your mobile device near the point-of-sale (POS) terminal to pay. As usual, purchases that come up to more than RM250 will require you to enter your card PIN. GoPayz users will be able to use this new mobile payment service at a wide range of merchants, including Family Mart, Guardian, Petron, and Tealive.

In a statement, the chief marketing officer of U Mobile, Jasmine Lee said that GoPayz is committed to making financial and digital services accessible to all. She added that this new feature is in line with the commitment since it makes payments even more seamless for its users, especially as GoPayz can be used both locally and internationally.

(Image: Malaysianwireless)

The general manager of UnionPay International Southeast Asia, Cai Huiming shares a similar sentiment. “As the rate of digitalisation continues to accelerate, we believe that it is crucial for us to continue providing innovative payment solutions that are easily accessible by consumers, to encourage more people to go cashless. Not only will this contribute to the country’s drive towards a cashless society, we believe that this will also enable greater financial inclusion for Malaysians,” he said.

(Source:
GoPayz
,
PR Newswire
)

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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Win NEW Apple iPhone 14 Pro And More When You Apply For A Credit Card

The Unbox This Week credit card campaign hits refresh with more gifts that you won’t want to miss.

For those who are new to this campaign, Unbox This Week is a weekly event where we present to you fantastic weekly flash deals from our featured bank partners. All you need to do is apply for selected credit cards from these banks of the week through RinggitPlus and you’ll take home some great prizes.

From 29 November to 5 December 2022, our featured bank partners are

none other than
Citibank, HSBC Bank, Standard Chartered Bank, RHB, Alliance Bank, and Public Bank
. So, if you’ve considered applying for a credit card with any of these banks, you know what to do to get more out of your application!

Citibank – RM800 Cash via DuitNow

Nothing beats the feeling of being handed cold hard cash! Get guaranteed RM800 cash via DuitNow when you apply for a Citibank Credit Card this week. Spend it on items and services or transfer money to your friends instantly.

Remember to activate and spend a minimum of eight retail transactions on your new card within 60 days upon gaining approval. Once the bank has confirmed your eligibility with us, you’ll receive instructions from us via email on how you can claim your gift.

Take note, though, that current cardmembers and individuals who have cancelled their Citibank credit cards within a year prior to this campaign do not qualify for this promotion. Otherwise, those who wish to apply for their new Citi credit cards can
head on over here to do so
.

HSBC Bank – Apple iPhone 14 Pro

Time to upgrade your phone? You could be one of the 10 winners of the iPhone 14 Pro when you apply for a HSBC Credit Card!

Capture every detail in your favourite moments with a 48MP camera even in low-light, record important events in 4K HDR quality, and keep tabs on your activities at all times with an always-on-display lock screen.

For those who are not selected, you will still walk away with Apple AirPods that ensure you look sleek while listening to music, getting on video calls, and more.

Don’t forget to activate and spend a minimum of RM1,000 on your new card within 60 days upon gaining approval to be eligible for this gift. That said, do note that current cardholders and applicants who were denied within six months prior to this campaign, as well as those who have cancelled their HSBC credit cards within six months prior to this campaign are not eligible for our campaign. Otherwise, you can apply for your HSBC credit card
here
.

Public Bank – Redmi 9A

Score a Redmi 9A smartphone when you apply for a Public Bank Credit Card. Streaming videos or making calls to your loved ones can be more enjoyable now with a large 6.53″ HD+ DotDrop display, low blue light that’s easy on the eyes, and  34 days of standby-battery time.

For those who are not selected, you will get a guaranteed RM150 Shopee e-Voucher.

All you need to do is complete your application via the RinggitPlus website, get approved by Public Bank, and make an accumulative spend of RM250 within sixty (60) days of approval to be guaranteed this gift. Apply for your Public Bank credit card
here
.

Standard Chartered Bank – Suunto Spartan Trainer Wrist HR

Make the Suunto Spartan Trainer Wrist Watch your health partner, which you could win when you apply for a Standard Chartered Credit Card. It is designed to help you keep up with your health and fitness journey with optical heart rate tracking, activities monitoring such as step counts and more.

Don’t worry if you’re not selected, as you will still get a guaranteed URBANLite Ledge 24″ luggage for your travels.

Just remember, you will need to activate your card within 30 days upon approval to be eligible for this gift. Lastly, be aware that existing cardholders and individuals who have held a Standard Chartered credit card in the past six months are not eligible for this campaign. If you qualify, then you can apply for your new Standard Chartered credit card
here
.

Alliance Bank – Xiaomi Smart Band 7 Pro or Samsung Galaxy Fit2

Take home a guaranteed Xiaomi Smart Band 7 Pro or Samsung Galaxy Fit2 when you apply for a new Alliance Bank Credit Card.

The Xiaomi Smart Band 7 Pro is a fitness watch made for fashionistas, has a 1.64″ rectangle AMOLED display, 150+ watch faces, built-in Global Navigation Satellite (GNSS), 12-day battery life, and is best of all, guaranteed to you when you apply for an Alliance Credit Card with Balance Transfer.

Meanwhile, you will receive the sleek Samsung Galaxy Fit2 that boasts an up to 50m 5ATM certification, optical heart rate sensor, and more when you apply for an Alliance Credit Card.

Upon approval, you just have to activate and spend to meet the requirements of the campaign and be eligible to get the gift. Existing cardholders of any Alliance Bank credit card and individuals who have held or cancelled an Alliance Bank credit card in the past six months are not eligible for this campaign. Apply for an Alliance Bank Credit Card
here
.

RHB – RM200 TNG eWallet Credit

Everyone’s a winner – get RM200 TNG eWallet Credit guaranteed to you when you apply for a RHB Credit Card.

As the festive season nears, spend the free credit on tolls, parking, meals, essentials, gift shopping, and more.

Once approved, you just have to activate and spend to meet the requirements of the campaign and be eligible to get the gift. Existing cardholders of any RHB Bank credit card and individuals who have held or cancelled an RHB

Bank credit card in the past six months are not eligible for this campaign. Apply for an RHB Bank Credit Card
here
.

***

Finally, be sure to start your application with our WhatsApp chatbot so that your eligibility is guaranteed, and we can always be at hand to help you when you need us.

While this week’s flash deal ends on 5 December 2022 (11am), do follow us on our
Facebook page
 to receive the latest Unbox This Week offers as we refresh the deals every week.

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LHDN Offers Flexibilities On Tax Payments, Penalties To Affected Taxpayers Due To FMCO

(
Image: The Star
)

Taxpayers whose income is affected by the Covid-19 pandemic and the implementation of the ongoing total lockdown (FMCO) will be able to tap into several tax and penalty-related flexibilities offered by the Inland Revenue Board (LHDN). This came following the announcement of the PEMERKASA+ stimulus package by Prime Minister Tan Sri Muhyiddin Yassin earlier this week.

According to a statement by LHDN, one of the flexibilities offered to taxpayers includes the deferment of tax penalty payments to the following year. This is provided the affected individuals continue to comply with the payment of the principal amount of tax payable. “The penalties included in this offer are penalties imposed in accordance with the Income Tax Act 1967, the Real Property Gains Tax Act 1976, and the Stamp Act 1949,” said LHDN.

Aside from that, LHDN is also enabling tax repayment rescheduling options for taxpayers who have lost their source of income or face issues in settling tax arrears due to the MCO. This is on top of the board’s offer to revise the penalty imposed if taxpayers have strong reasons to support their request for this flexibility. LHDN further said that taxpayers who wish to tap into this aid will need to appeal against the penalties imposed, and the appeals will be considered on a case-by-case basis.

(
Image: Bernama
)

“Taxpayers who wish to apply for this relaxation are recommended to contact the LHDNM branch office that handles their income tax files. However, unaffected taxpayers will have to continue paying taxes as required by the law in force,” the board said.

You can find out more about the flexibilities offered by LHDN during the FMCO period in the
FAQ
 prepared by the board. The FAQ also contains detailed information on other tax-related matters, including the subject of sending income tax returns and payments.

Individuals who have inquiries or feedback can also contact the LHDN via its HASiL Careline at 03-8911 1000/603-8911 1100 (overseas). Alternatively, they can use the HASiL Live Chat or the
 Customer Feedback Form
 on the LHDN’s official portal.

(Sources:
LHDN
,
The Malaysian Reserve
)

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About THE AUTHOR

Alex Cheong Pui Yin

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Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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Places You Should NOT Go to For Your Year End Holidays

If you are into holidays that aren’t overflowing with fellow tourists, then you’ll need to venture off the beaten track and skip popular destinations. Here are a few vacation spots to consider making your way to if you just want to get away from it all:

1. Beach Vacations

Dreaming of blue waters and white sands? Then you might want to skip good old Langkawi as it is the place to be for local holidaymakers as well as European and other Western travellers looking to beat the cold. Bali, Indonesia and Boracay in the Philippines suffer a similar tourist clog this time of year.

Opt instead for the beaches of Goa, India or Koh Rong Island, Cambodia which is home to some of the most serene seaside holidays. What’s more, these holiday destinations can be rather low-cost if you plan well. For instance, by comparing costs on
AirAsiaGO
, we found that a roundtrip flight plus (one night’s) accommodation to Boracay and Bali would amount to approximately RM700 to RM800. This is comparable to Koh Rong Island’s accommodation and travel expense of RM600 to RM700. A trip to Goa however, costs more to due to flight fares (around RM1, 500 for a roundtrip), but accommodation and other expenses are comparable.

Speaking of
Bali
, why not head to our Travel Getaway Campaign for more interesting destinations you can explore?

2. Culture Immersion Holidays

If your soul is yearning for something deeper, you may be tempted to head somewhere like Siem Reap in Cambodia to have a peek at the ancient temples of Angkor. Be warned though, there are thousands of others doing the same.

On the other hand, Prague in the Czech Republic is a beautiful place to visit with old churches and monuments that are simply a sight to behold. Plus, Malaysian currency is still stronger than the Czech Koruna, so this might be a chance to see Europe more affordably. In terms of flight fares, a roundtrip ticket to Prague will cost more, at approximately RM3, 000, than a flight to Cambodia. However, a room in a five-star hotel or budget guesthouse appears to cost about the same in both destinations (depending on the hotel and travel dates).

Other culture-rich places to consider include Hanoi; Vietnam, Hainan Island, PRC; and Panglao Island, Philippines.

3. Shopping Trips

Shopaholics dream of bargains and unlimited retail avenues but shopping havens like Singapore and Bangkok are terribly crowded with both foreigners and locals at the end of the year.

You might have a better time browsing in Taipei, Taiwan which is least crowded in December likely due to colder weather. Malaysians trying to beat the heat might find its mild temperatures of 13 to 18 degrees Celsius a welcome change. Plus, it’s shopping street and markets are a dream come true for shopping fiends.

Flights to Taiwan will cost a little more than a trip to Bangkok but not by much, especially when considering the travel distance to East Asia. When compared to Singapore though, a Taipei trip could be a lot more economical in terms of lodging and other expenses. This is due to a lower cost of living and because Taiwan currency remains weak against the Malaysian Ringgit. As it stands MYR1 equals TWD7.47.

If you want to head west,
Birmingham, England
 offers less crowded, historic markets and a ton of shopping centres, though with our exchange rate, not everyone will be able to afford it.

Now that you know where to go to beat the tourist swarms, have you thought about how you are going to pay for your trip? Know that with a good travel credit card, you could enjoy insurance coverage as well travel inconvenience benefits by paying with your card for related purchases.

If you don’t already have an awesome travel card in your name, come on and check out our comparison page for a list the best ones available in Malaysia right now.

Image credits: Aaron Bradford’s
photostream

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How Much to Give in a Chinese New Year "Ang Pow"?

Chinese New Year will be here in just two short days. Those who celebrate welcome the auspicious celebration with open arms, but there’s always that niggling problem at the back of their minds: how much should I give in an ang pow and will I have enough for all of my loved ones? Of course, some of you may have saved up for this holiday and may be ready to fill those little red packets of lucky money goodness but even so – the question of how much is appropriate may still cross your mind.

How much should one slip into these ang pows without appearing too
“kiam siap”
? To find out, it’s sometimes best to look behind – to how it all started.

Image from The Star Online

Once Upon a Time…

In Chang Chieu China during the Sung Dynasty – A demon terrorised the village and even the finest warriors failed to bring it down. A young orphan with an enchanted sabre managed to kill the beast. As a reward the villagers gave him a red pouch with gold coins. Not just a reward, it became a way of showing gratitude; giving these red envelopes was said to bring good luck and prosperity to the ones receiving it. For blessings, red packets are given during weddings and birthdays too.

It would appear that from the outset; the shiny red packet stood as a symbol of luck and good wishes to the recipient. Tears it down to the base level doesn’t it?

So, How Much Should I Give?

Normally, ang pows are only given by married couples and elderly people to young unmarried individuals and children. Giving out these red packets is a way to wish the recipient luck and prosperity in the new year but because the idea behind it was also gratitude; many working adults will give money to their parents in an ang pow even though they may not be married. It appears as as time passed; people practised what they were most comfortable practising. But comfort seems to have given way to expectation.

The Star Online
 reported that while children or unmarried individuals can expect fatter ang pows, some parents are feeling the pressure to give more and dare not cut down ang pow rates to keep their close family member happy. The pressure of keeping to expectations may be driving people to wonder if the year of 2015 requires more ang pow giving considering our inflation levels.

To make it easier for you, a popular bank has broken down ang pow
rates
 for different income groups. These income groups are divided into low, medium and high income earners from below RM30,000 to RM150,000 and above each year. For example if you are a low income earner, you can give RM2 – RM5 to children and relatives and RM8- RM20 for parents and in-laws. High income earners can give RM20 to RM80 to children and relatives and RM88 to RM200 to parents and relatives. But again, these are a guide. It’s simpler to assume one can afford RM80 for children if one has only 2-3 children to consider. But the reality is that every family make up is different and showing people a single image guide is not to be considered all-encompassing but merely an idea you could follow if your means allow.

Regardless of amount, some people follow the auspicious rule of number 8 where the amount starts from or ends with 8 such as RM8, RM88 or RM188.

Tips to Tailor Make Your Own Ang Pow Plan

But at the end of the day; how much you give really depends on you and your means. Tailor-make your ‘ang pow plan’ by considering these few factors.

How does your budget look?
 Some of you may started saving for Chinese New Year spending, but for those of you who haven’t, you’ll have to check on your financial situation and determine how much you can afford. Set aside a full base figure of how much you plan to spend on ang pow handouts – it’ll give you a starting figure to work with and prevent you from overspending during the holidays.

Do a headcount.
 How many ang pows do you have to give out? Making a list of people would give you a clear idea on how much you can then afford to spend on each of them. Also, do make sure you allocate a few more for guests and the unexpected visitor but the amounts in these packets are usually much smaller. Rank the people in order of highest amounts to the lowest. This allows you to do the math. Breakdown your big budget into group budgets. For example, if your overall budget for ang pows was RM1,000, you can allocate RM600 to tier one relatives; RM300 to tier 2 and RM100 to miscellaneous outside guests. These numbers will allow you to break down further to get the number for each person.

Consider the ‘Special People’.
 Base numbers are great and uniformity makes it all easier but sometimes; you may have certain people you feel should get more. This may be in the case of children to their parents and vice versa. Even in your first tier; you may want to, for example, give your parents more than you give your siblings. After calculating overall, uniform budgets, you can now consider if cuts can be made elsewhere to accommodate the special people right at the top. Lively debates are carrying on on the
Lowyat Forum
 about thresholds. It’s an entertaining read but at the end of the day…

It’s all entirely up to you.
 Many people have strong opinions on ‘shoulds’ and ‘should nots’ but at the end of the day; it’s your opinion and comfort level that matters. But in our opinion (heh); spending within budget and doing what’s best for your funds instead of following others is the best way. Decide your ang pow amounts based on affordability; not your neighbours. We bet those folks gave our beast-slaying orphan how much they could afford each too (although, we have no way of finding that out!).

No matter how much or how little you can afford to give, it’s the thought that matters. The same applies to those receiving it. We wish you prosperity and a Happy Chinese New Year.

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What Successful People Study in University

While there are some people who manage to succeed in life without a degree like Mark Zuckerberg or Lionel Messi, most people agree that education is important to a person’s progression in career and personal development. In this article, we compiled a list of successful people and what they study in university.

This list is divided into a few areas: Sports, Business, Music, Comedy and Acting.

Sports

The usual assumption is that athletes just need to perform well in sports to earn a living through sponsorships or advertisements.

However, there are a few athletes who not only excelled on the field but also in classes. One of them is Manchester United Spanish midfielder Juan Mata who became one of the few footballers who has two degrees, Sports Science and Marketing. Juan Mata once told
the Independent
 that studying and sports are not mutually exclusive as intelligence is an asset both on the field and in life.

Another athlete that shares the same sentiment is Malaysia’s SEA Games gold medalist gymnast Farah Ann Abdul Hadi, who is currently continuing her studies in International Studies at Monash University. In an interview with
Star2
, she stated her first priority is to finish her studies despite her hectic training and competition schedules.

Business

Image courtesy of Fortune

The common consensus about business people is that they study business-related degrees in their respective universities.

However, some successful businessmen/women study courses that may not directly relate to the usual business degree. Former MaGiC CEO Cheryl Yeoh is one such example as she obtained a degree in Operational Research and Industrial Engineering from Cornell University. She told
Malaysia Tatler
 that the decision to study Operational Research and Industrial Engineering paid off as it complements her business acumen.

Similarly, the world’s
richest man
 of 2017 and Amazon founder Jeff Bezos studied Electrical Engineering and Computer Science in Princeton University. From some perspectives, both Cheryl and Jeff are somewhat ahead of their time as one would later be a famous tech entrepreneur while the latter founded the world’s largest online shopping site.

Comedy

Image courtesy of MYNEWSHUB

Comedians often display their wit and cunning in their ways of entertaining the crowd, but some even have paper qualifications to prove them. The winner of Laugh Factory’s Funniest Person in the World Competition 2016, Harith Iskander, is an alumnus of Curtin University, where he gained his
Bachelor of Arts
 in English degree, majoring in Film and Television Studies.

British comedian
Rowan Atkinson
 is often associate with his role as the childish titular character, Mr. Bean. Behind the screen though, Rowan Atkinson is a qualified engineer, with a bachelor’s degree in Electrical Engineering from Newcastle University and a master’s degree in Electrical Engineering from Queen’s College, Oxford.

Music

Image courtesy of the Famous People

Musicians often suffer a couple of stereotypes when it comes to paper qualifications, either they have a degree in music, creative arts or mass communication or they dropped out of university to pursue their passion. The reality is that there are some musicians who break these stereotypes with their qualifications.

The late Malaysian music legend
Sudirman Arshad
 was a qualified lawyer with a degree in Law from the University of Malaya before he began his music career. This part of his personal life explains how people gave him one of his famous monikers, “The Singing Lawyer”.

British musician
Brian May
 was part of the famous British band that conquered billboards during the 1970s and 1980s, Queen. While many people know him as the lead guitarist of the band, Brian May surprised many in 2007 when he completed his PhD thesis in astrophysics at Imperial College London. He went on to become the Chancellor of Liverpool John Moores University until 2013.

Acting

The other group of successful people who might suffer similar stereotypes as the musicians are actors. The common perception is either they studied performing arts during their tertiary education stage or they just have the talent and dropped out of university.

Over the years, some actors have the brains and papers to prove they are more than what people think about them.

Malaysian actress
Lisa Surihani
 is a Help University and Aberystwyth University Law graduate in 2007 before resuming acting in several more films and television series. In 2010, she told Star2 about her retaining the prospect of becoming a lawyer.

Similarly, Divergent Series and Star Trek actress Ashley Judd have a bachelor’s degree in French from the University of Kentucky and a master’s degree in public administration from Harvard University.
CNN
 reported in 2016 that Ashley Judd is pursuing a PhD in Public Administration from UC Berkeley.

Importance of Education

From the list of people above, we can get a few important notes about tertiary education and its importance.

1) All of them do not necessarily end up in the same field as what they studied in university.

2) They share the same view on the importance of tertiary education despite being successful in their fields.

3) Commitment is key to finishing your studies, even if it takes 40 years like Brian May.

As such, we encourage our readers to continue learning and make the
necessary preparations
 for further studies.

While looking for options to fund your studies, you can consider getting a high interest savings account with our
comparison tool
.

Do you know of any other celebrities with impressive educational backgrounds? Do tell us in the comments section down below!

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AEON, bolttech Launch AEON SAFEGUARD Programme That Combines Device Insurance & Support Services

Retail brand AEON has partnered with international insurtech, bolttech, to roll out a new and comprehensive protection programme, called AEON SAFEGUARD. It essentially combines two components – device insurance and support services – to provide a one-stop device care package for customers, and is applicable to all mobile devices and home appliances that are purchased from AEON stores nationwide.

In a statement, AEON explained that the device insurance offered under AEON SAFEGUARD is underwritten by Tune Insurance Malaysia Berhad. It protects customers’ purchased devices – such as smartphones, tablets or laptops – against a range of damages, including cracked screens as well as accidental and liquid damage. Additionally, it provides extended warranty for all insured devices.

Meanwhile, the scope of support services provided for customers’ devices and appliances via AEON SAFEGUARD includes the following:

Device trade-in service for used smartphones and tablets

24/7 technical support service for usage issues

New-in-the-market device repair concierge services (with three-month after-repair warranty)

Logistic services (such as door-to-door device pick-up and delivery at customers’ convenience)

Selected support services under AEON SAFEGUARD – such as the device repair concierge service – can also be extended to other existing mobile devices and household appliances in the customer’s home, regardless of where they were purchased from. In other words, the services are not necessarily limited only to new appliances purchased from AEON. Note, though, that you may incur some fees when tapping into these services – such as inspection fees, transportation fees, and repair fees – so make sure to enquire beforehand.

Customers can register for the AEON SAFEGUARD programme at AEON stores from as low as RM25, with protection to be offered for up to two years. There is also the option to purchase the device insurance as a standalone product (instead of signing up for both the device insurance and support services components under AEON SAFEGUARD), but you will need to speak to a representative from bolttech for this.

Chief merchandise and marketing officer of AEON Retail, Low Ngai Yuen said that the introduction of AEON SAFEGUARD is an indication of AEON’s commitment to serve their customers better.

“AEON SAFEGUARD provides a convenient, all-in-one programme to take care of the devices that our customers love – be it their mobile phones or other appliances in their homes. This innovative new offering that goes beyond the traditional in-store extended warranties currently seen in the market, demonstrates our commitment to meet customers’ expectations every step of the way as they enjoy a seamless customer experience with AEON,” said Low.

Meanwhile, the chief executive officer of bolttech (Southeast Asia), Baldev Singh, commented that the
new AEON SAFEGUARD programme
 will bring additional value to AEON’s customers. “This collaboration aligns with bolttech’s goal to create compliant device insurance and protection solutions that enhance our partners’ offerings and deliver more choice, convenience and access to protection for their customers at the point of need,” he said.

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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How I Planned A Unique Christmas Celebration With Grab

A few weeks ago, our friends at Grab posed an interesting challenge: can someone plan a Christmas gathering using only Grab’s services?

As an active GrabPay user and more importantly, someone who was already in the midst of prepping a first Christmas gathering in two years, I was the best candidate. Given the large crowds seen in shopping malls recently, I’d already been planning on purchasing my gifts online and maximise my savings – so with the knowledge at hand, it was time to go shopping.

First and foremost, my wife and I set a budget of RM200 per gift for each guest coming to our small Christmas gathering: my parents, two of my closest friends, and my wife’s best friend. In secret, I also allocated another RM200 for a surprise present for my wife. Finally, I wanted to find ways to maximise savings and explore ways to stagger the payments in the coming months and ease any cash flow worries.

Maximising Savings With GrabPay Discounts

Thankfully, Grab is offering some festive cheer with its Year End Giftings discounts when you pay with GrabPay and PayLater by Grab:

1)
30% off capped at RM30 with no minimum spend with GrabPay
 – this is awesome because there is no minimum spend requirement and is valid for two transactions per user. By using both my wife and my GrabPay eWallets, we can enjoy this rebate four times and also collect GrabRewards that can be used to offset future payments or redeem items!

2)
30% off capped at RM50 with no minimum spend with PayLater by Grab
 – another fantastic option that will help us save even more if the merchant accepts PayLater. This deal is also valid for two transactions per user, and more importantly, would help stagger the payments to either next month or across four interest-free monthly installments.

As I got started, I came to realise a little-known fact – the list of merchants that accept GrabPay in Malaysia is surprisingly extensive. Grab lists
thousands of online merchants
 from major retail outlets such as Senheng and All IT Hypermarket to hundreds of niche local sellers.

This figure may actually be larger – since iPay88 and GHL Systems, two of Malaysia’s largest payment gateways, also support GrabPay and PayLater as payment options, virtually any online merchant who uses iPay88 and GHL Systems are automatically a GrabPay and PayLater online merchant.

Let The Shopping Begin!

Item:
 SK II Pitera Power Kit
Merchant: Isetan Online
Purchase Price: RM242 (RM272 – 30% GrabPay discount capped at RM30 + free shipping)
Savings: RM30 (11%)

First on the shopping list was a gift for my wife who had gone through the roller-coaster of a year with me. Her gift this year was surprisingly easy – and I’m (fairly) confident she’ll love it. She has been talking about trying out SK II’s face care products for some time now, and thankfully, Isetan has an online store with a solid range of SK II products.

Being a complete rookie in beauty products, I opt for the safer choice – the Pitera Power Kit for RM272. I may not get to take advantage of the solid voucher codes for RM350 and RM700 spending at Isetan Online, but at least I get free shipping. I also got a RM30 discount from
 GrabPay’s Year End Giftings Deals
, bringing the final price down to RM242.

OK, a little above the RM200 budget but I’m sure she wouldn’t mind…

Item:
 FIFA 22 (Standard Edition) PS5
Merchant: Gamers Hideout
Purchase Price: RM244.90 (RM259.90 – 30% GrabPay discount capped at RM30 + RM15 shipping)
Savings: RM30 (10.9%)

Next, it was time to think of gifts for family and friends – some of whom we have reconnected over the last two years. Let’s start with Justin, a regional-level marketing manager who used to travel for work every other week. Over the last 12 months we reconnected via our favourite pastime back when we were students: playing FIFA on the PlayStation. With the latest FIFA 22 now out, may this tradition continue for another year!

Again, it’s a little above the RM200 budget, but one could argue that this is a gift for two, right?

Item:
 HiBlendr Juice Cup Pro
Merchant: HiBlendr
Purchase Price: RM154.99 (RM194.99 – 30% GrabPay discount capped at RM30 – RM10 rebate + free shipping)
Savings: RM40 (20.5%)

Then, it’s time to think of a gift for Elaine, my wife’s best friend. A recent mother, Elaine is the epitome of the modern mom – raising a child, having a career, and managing the home all at the same time. My wife and I both knew what we were getting her months ago – a HiBlendr Juice Cup Pro, a portable blender in the shape of a to-go cup. This device creates smoothies in just 40 seconds, capable of blending fruits and small ice. More importantly, it’s incredibly easy to clean. Perfect.

Maximising PayLater Responsibly

Clearly, I’m on a roll at this point, but I’m also quite aware that at the halfway mark I haven’t yet utilised the PayLater discount offer that I was hoping to take advantage of.

I’ve used PayLater by Grab several times this year – mainly due to the huge rebates, but not after thoroughly reading its terms and conditions. Buy Now, Pay Later (BNPL) solutions have had quite a lot of heat when it was first introduced in Malaysia, mainly due to its relatively vague nature on how it charges its users. After all, if there are no fees or interest, how will the business even survive?

With PayLater, I remember being surprised that as long as you pay your installments on time, PayLater does not impose any late fees or interest charges. Furthermore, monthly installments are automatically deducted from the GrabPay eWallet or, if there isn’t enough balance, directly charged on one of your assigned credit or debit cards in the eWallet.

If for some reason, you still miss a payment, your PayLater account will be suspended to help prevent you from overspending. With an RM10 administration fee, you can resume using PayLater. This is different from other BNPL options in the market, which include late payment fees as well as monthly fixed interest charges that ultimately increases the cost of purchase.

Anyway, PayLater is usually my go-to payment option if the merchant supports it since I can enjoy the generous rebate during special campaigns like the Grab Year End Giftings Deal, and my credit card has been set to pay each installment automatically.

The Final Sprint

Item:
 Lego Creator Expert 10281 Bonsai Tree
Merchant: Zalora
Purchase Price: RM169.90 (RM219.90 – 30% PayLater discount capped at RM50 + free shipping)
Savings: RM50 (22.7%)

Up next in the list is Ryan, another old friend of mine who’s an architect by day and aspiring gardener by night. He’s also a huge Lego buff, and like Elaine before, both my wife and I had already planned on getting him a Lego set for Christmas. Specifically, the Lego Creator Expert 10281 Bonsai Tree, a collector’s item that had been out of stock for most of this year. Well, both Box of Bricks and Zalora have this model in stock – just in time!

In the end, I chose Zalora as it accepts PayLater. It’s a relatively small expense, so I just set it to be repaid next month. I’m happier at the fact that I saved more than 20% for this gift!

Item:
 GNC Cod Liver Oil Plus 90s
 – Buy 1 Free 1
Merchant: LAC (formerly known as GNC)
Purchase Price: RM157.30 (RM199.80 for 4 bottles – 30% PayLater discount capped at RM50 + RM7.5 shipping)
Savings: RM249.80 (31%)

Finally, it’s time to get something for my parents – and this is by far the easiest gift among all our guests. As practical retirees, they constantly give and consume a variety of supplements and multivitamins – so that’s what we’re getting them. And as a bonus, with the LAC (formerly known as GNC) website offering tons of items at steep discounts for Christmas, I’m sure they’ll get a kick out of hearing how much we saved for their gift!

Not only does the store have a buy 1 free 1 offer for the cod liver oil supplements for LAC members, we stacked it with Grab’s PayLater promo to shave another RM50 off the list, bringing the total savings to RM249.80 – more savings than our actual expense!

Double Dipping Rewards

So far, Grab’s year-end discounts have shaved hundreds of Ringgit off our gift expenses. In total, we spent RM969.09 – just below the RM1,000 total budget even though I secretly added an extra gift for my wife and went above budget for two of the gifts! More importantly, I saved RM399.80 thanks mainly to the GrabPay year-end discounts.

By splitting our payments across both my wife and my Grab accounts, we were able to enjoy the GrabPay year-end discounts. We would have saved a bit more if some of the merchants also supported PayLater, but that’s not in our control.

To maximise savings even further, I used the Maybank Grab Mastercard Platinum, a co-branded credit card that’s designed for heavy GrabPay users. In
our review of the card
, we shared that the best way to use this card is by topping up the GrabPay eWallet with the Maybank Grab Mastercard Platinum to earn 5 GrabRewards for every RM1 topped up, which will then earn 3 GrabRewards for every RM1 spent (the card also automatically boosts you to Grab Platinum membership tier, the highest tier that offers the best perks).

By earning an effective 8 GrabRewards per Ringgit, the effective rate of return is 5% – or for my Christmas gift shopping spree, that’s an additional RM48.45 saved, bringing the total effective savings to an incredible RM448.25!

A Great Way To End The Year

It has been a challenging year for everyone, but being able to celebrate festivities with close friends and family has brought some laughter, joy, and optimism back into our lives – a great way to end 2021 and start the new year.

With that, we wish all our readers a Merry Christmas and a Happy New Year!

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Pang Tun Yau

Pang Tun Yau

A seasoned tech journalist who now focuses on his other passion, Pang is a firm believer in old-school DCA and optimised spending.

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OCBC Introduces Kill Switch Feature For Improved Protection Against Scams

OCBC Malaysia has introduced a new feature called the OCBC Kill Switch, which enables customers to immediately suspend their bank accounts and cards if they suspect that they have been scammed or their details have been compromised.

According to OCBC, the Kill Switch feature will be made available 24/7, at all times of the day. Once activated, all transactions – whether performed digitally, via ATM, or at branches – will be blocked. This includes recurring or pre-arranged fund transfers. Here’s the full list of transactions and banking activities that will be disabled once a customer puts in a request for the Kill Switch:

Cash withdrawals

Local and overseas fund transfers (outgoing)

Bill payments

Loan payments

Recurring charges and standing instructions

Visa & Mastercard transactions using ATM, credit, or debit cards (physical and digital)

Upon activating the Kill Switch to block access to your compromised accounts and cards, OCBC’s customer service representative will also proceed to record your scam report and issue new cards to you (if necessary).

“Only our branch staff or Customer Service Executive can deactivate the Kill Switch, and this will only be carried out after receiving verified instructions from you. Once the Kill Switch is deactivated, your account will return to normal and all prior settings – including GIRO arrangements and future-dated fund transfers – will be reinstated,” the bank clarified on its website.

The Kill Switch can be activated via self-service interactive voice response by calling OCBC’s contact centre at 03-8317 5000, followed by the number 8; you’ll then be prompted to key in your IC number and debit card number to suspend your accounts and cards. Once done, go ahead and record your scam report with a contact centre representative.

Managing director and head of consumer financial services of OCBC, Anne Leh said that the introduction of this initiative is in line with Bank Negara Malaysia’s (BNM) call for banks to further
reinforce their security measures against financial scams
.

“We have been closely following the rise in scam-related banking transactions to close the gaps that fraudsters look to exploit. This has given rise to the OCBC Kill Switch, which enables customers to take charge. So in the event a customer recognises that they have fallen prey to a scam, they can now put in motion the first important step of freezing their accounts far more quickly than ever before,” said Leh.

(Sources:
OCBC
,
The Edge Markets
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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EPF Economist: Keeping OPR Too Low For Too Long Can Be Harmful

(Image: The Malaysian Reserve)

Head of economics and research of Employees Provident Fund (EPF), Afzanizam Abdul Rashid has commented that keeping the overnight policy rate (OPR) too low for too long could result in financial imbalances. This is as the public could be misled into an erroneous perception of the country’s actual state of economy, thereby gearing up to spend more excessively.

Afzanizam stressed that the public has to understand the rationale behind the changes made to the country’s monetary policy stance. “When we experienced a sharp fall in economic activities during Covid-19 in 2020, we saw the OPR brought down from 3% to as low as 1.75% in less than a year. This is simply because the central bank wanted to help the economy. By bringing down the rates, that would mean the cost of goods became cheaper and would stimulate the economy via investment and consumption,” he explained.

With Malaysia’s economy now starting to recover with increased economic activities, Afzanizam said that the OPR, too, should be adjusted accordingly. “OPR of 1.75% does not run really well with the level of economic activities,” he further stated, adding that an ideal rate is very subjective, but 3% to 3.25% seemed reasonable – based on pre-pandemic rates. He also said that should a recession happen, central banks around the world will take the appropriate action to cut rates again.

(Image: Malay Mail/Yusof Mat Isa)

Additionally, the economist highlighted the fact that the public discourse on OPR hikes tended to be quite unbalanced. Specifically, Malaysians primarily associate a higher OPR with the rising cost of living and higher loan repayment amounts.

“Discussion on OPR had always been one-sided – from the point of view of borrowers. OPR affects everything, not just lending rates, but also deposit rates. What about those who wanted to save their money and seek investments that provide good returns and at the same time, have a reasonable risk tolerance?” Afzanizam elaborated.

Aside from that, Afzanizam also noted that Bank Negara Malaysia (BNM) has been more prudent in managing its monetary policies than the West. “The adjustment has to be very quick, and especially in the case of the US economy, when there are signs of economic overheating. But it is a different case in Malaysia, where BNM’s policy adjustment is gradual,” he said.

(Image: Malay Mail/Yusof Mat Isa)

BNM’s discretion in managing its monetary policy has also been commended by the International Monetary Fund (IMF), which noted that BNM moved “quite fast” to stem inflation within the country. In turn, this enabled Malaysia to record
one of the lowest inflation rates in the world
.

Malaysia’s OPR was brought down to an
all-time low of 1.75%
 back in July 2020 to accommodate the impact of Covid-19 on the economy. It was subsequently raised back to its current rate of 2.75% via four consecutive hikes in
May
,
July
,
September
, and
November 2022
. In the latest Monetary Policy Committee (MPC) meeting in January 2023, it was decided that the OPR will be
maintained at 2.75%
 for now to review its impact.

(Source:
Free Malaysia Today
)

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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    Benyamin Mustafa

    7 months ago

OPR tools used by BNM are outdated, often lags behind. Not able to protect Ringgit freefall in recent months.

Pls look into SNEER.

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What Additional Perks Can You Get From The eBelia E-Wallet Partners?

Starting from today until 22 July 2021, Malaysian youths and full-time students who are eligible for the eBelia programme can begin to claim their RM150 e-wallet credit from participating e-wallet service providers. The four e-wallets that are involved in this programme include Touch ‘n Go (TNG) eWallet, ShopeePay, Boost, and BigPay.

Open to all youths who meet the
eBelia eligibility criteria
, this RM150 credit can be redeemed once from any of the four listed e-wallet service providers, and it must be utilised by 31 July 2021. Note that certain e-wallet service providers may have some limitations as to how you can spend the credit, so make sure to check beforehand.

TNG eWallet, for instance, allows you to use the eBelia credit for retail purchases (online and offline) as well as toll payments (RFID and PayDirect). It cannot be transferred to another person, invested in Touch ‘n Go eWallet’s GO+, or utilised as payment for in-app services (bill payments, prepaid, postpaid, and game credits). Meanwhile, Boost states that its eBelia credit can only be used for online payments and at its partners’ physical outlets only.

On top of the RM150 eBelia credit, all e-wallet partners have also pledged to top it up with extra perks, including cashback, vouchers, reward points, or coins. Here’s a closer look at the bonuses that are being offered by each e-wallet partner in the eBelia programme.

TNG eWallet: Up To RM1,000 Worth Of Vouchers

Youths who claim their
 eBelia credit with TNG eWallet
 will be able to tap into extra benefits of up to RM1,000, consisting of an allocation of RM600 for Lazada vouchers and RM400 for various cashback voucher bundles. Note that the vouchers will be distributed on a first-come first-serve basis, and are limited to the first 200,000 users who claim their eBelia credit with TNG eWallet. The vouchers will be made available to you three days from the day you successfully receive your eBelia claim.

With regard to the Lazada vouchers, there are more than 20 listed merchants that you can spend with, including major brands such as Timberland, Levi’s, Realme, Watsons, and Khind. Here is the full list of merchants:

Meanwhile, the cashback vouchers encompass over 250 brands, covering categories such as F&B, online and offline retail, as well as transportation needs. Popular brands include Sushi King, Secret Recipe, The Face Shop, Tesco, and Mr DIY.

Most of these cashback vouchers have a minimum spend requirement, so make sure to look out for the terms and conditions; for instance, the
RM3 cashback Tesco voucher
 will require you to spend at least RM50 to be eligible for it. Upon earning the cashback, it will be credited immediately into your TNG eWallet account. There are also some vouchers listed here that are discount vouchers. For these vouchers, the discount will be automatically applied during the checkout once you key in the promo code.

ShopeePay: RM500 In Vouchers Guaranteed

Those who claim their
eBelia credit with ShopeePay
 will earn a total of RM500 worth of vouchers, allocated as follows:

1x YES 4G prepaid voucher worth RM50 with 40GB mobile data and free SIM card
6x RM10 free shipping vouchers (with minimum spend of RM10)
8x RM5 Coin Cashback vouchers (with minimum spend of RM10)
10x RM5 Shopee Mall vouchers
60x RM5 ShopeePay offline vouchers

These vouchers can be used with merchants from categories such as F&B, supermarkets and pharmacies, groceries, retail and services, fashion, electronics, and lifestyle. Some brands that you can tap into include The Alley, Mydin, Himalaya Herbals, J&T Express, and AIA.

On top of these bonus vouchers, Shopee is also providing additional perks for early eBelia claimants and for those who are willing to take some extra steps. The first 140,000 claimants are entitled to get extra RM55 worth of offline vouchers, allowing them to save while purchasing from another 11 brands, including FamilyMart, Starbucks, and TF Value Mart.

Additionally, there is a Share & Sure Win campaign that lets you win 100 Shopee Coins when you share your successful eBelia claims on selected social media channels and tag ShopeePay in your posts. 50 lucky winners will also be selected each day to win an extra 500 Shopee Coins via this campaign.

Boost: Up To RM300 In Rewards

Boost
 is offering up to RM300 worth of lifestyle rewards as additional incentives for its eBelia claimants, awarded in two forms: RM195 worth of fixed instant rewards bundle (Main Rewards), and the remaining RM105 worth of vouchers that you can select from a pool of rewards (Additional Rewards).

The Main Rewards that are instantly provided to successful eBelia claimants are as follows:

Meanwhile, the Additional Rewards are made up of various lifestyle, F&B, and grocery vouchers – most of which will have a minimum spend requirement. They may also carry other terms and conditions, which you need to check prior to using. Note that these rewards are also provided on a first-come first-served basis, although Boost did not specify the allocations for each rewards. Here is the full list of merchants for your reference:

BigPay: RM100 Worth Of Vouchers

BigPay
 is offering exclusive discounts worth RM100 on selected AirAsia purchases when you claim your eBelia credit with it. The rewards that are available include the following:

RM20 worth of vouchers on AirAsia deliveries (Food, Fresh, and Beauty)
RM40 worth of vouchers for AirAsia flights
RM40 worth of vouchers for SNAP combo (flight and hotel deals)

Note that the vouchers for AirAsia flights and SNAP combos provided will be valid until 30 November 2021.

In addition to these vouchers, those who register with BigPay and claim their eBelia credit with a promo code (
PCEBELIABP
) will also be entitled to an extra RM20.

***

As you can see, each e-wallet service provider has endeavoured to provide great rewards with huge value to its eBelia claimants. If you’re having trouble deciding which e-wallet service provider to claim from, think about how the rewards can complement your current lifestyle. For example, if you’re someone who often shops via e-commerce platforms, then Shopee might be a good option for you – especially since it is offering a generous number of free shipping and Shopee Coin Cashback vouchers, along with other discounts. Meanwhile, if you’re gearing up for some travelling when the government finally relaxes travel restrictions in the future, BigPay could be your e-wallet of choice.

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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Samsung Announces Plans To Launch Samsung Pay Debit Card This Year

(Image: Mashable)

Samsung has announced that it will soon be launching a debit card that is tied to the company’s mobile payment and digital wallet service, Samsung Pay.

According to the vice president and general manager of Samsung Pay (North America), Sang Ahn, the card will be backed by a cash management account, the details of which will be shared in the coming weeks. The debit card will be the result of a partnership between Samsung and SoFi, an online personal finance company that provides various services, including loan refinancing, mortgages, and investment.

Sang Ahn further noted that the card is intended to increase the value of Samsung Pay as a financial service.

“In 2020, Samsung Pay will be expanding our service from being a rewarding way to shop and pay, to also being a rewarding way to manage money. Over the past year, we have been busy developing a mobile-first money management platform,” said Sang Ahn, adding that the debit card is the company’s first step towards realising this broader vision.

Sang Ahn also revealed that the card is scheduled to arrive this summer, which starts in June. However, it may take longer for the Samsung Pay debit card to reach Malaysian shores due to licensing and regulation issues.

Launched in 2015, Samsung Pay enjoyed popularity among its users with its adoption of both the near field communication (NFC) technology and magnetic secure transmission (MST) technology as part of its payment solutions. Since then, Samsung has collaborated with many leaders in the fintech and banking industry to enhance its payment platform – for example, supporting the
Boost e-wallet
 in Samsung Pay.

With this
announcement
, Samsung becomes the latest tech giant to launch a physical card to complement its existing online payment solution. Apple had been the first to do so with the
Apple Card
 in 2019, and Huawei subsequently followed with the
Huawei Card
 – although both the Apple Card and the Huawei Card are credit cards. Meanwhile, Google is rumoured to be in the midst of developing its own
smart debit card
.

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Maybank Enables Secure2u For Authorisation Of More Transactions, Including First-Time Favourite Transfers

Maybank has further expanded the use of its Secure2u feature to authorise even more types of online transactions and banking activities. Effective starting from today, these include making first-time favourite transfers, editing selected settings such as your contact details and payment limits, as well as applying for a credit limit increase for credit cards.

As of today, Maybank said that Secure2u can be used to authorise the following online transactions and banking activities as well:

Transactions
Details
First-time favourite transfers
– Third-party transfer
– DuitNow/Instant transfer (IBFT)
– Interbank GIRO (IBG)
– Visa Direct transfer
– Foreign telegraphic transfer (FTT)
Add new favourites
– Third-party transfer
– DuitNow/Instant transfer (IBFT)
– Interbank GIRO (IBG)
– Visa Direct transfer
– Foreign telegraphic transfer (FTT)
– Cardless withdrawal
– Payment
– JomPAY
– Reload prepaid/game
– IDD/STD card
– Internet prepaid
– Third-party Tabung Haji account
Edit settings
– Contact details
– Grab-linked account
E-commerce activation, set contactless payment limit, and set purchase limit
– Debit card
Increase credit limit
– Credit card
Card application
– Supplementary card

Maybank further clarified that all the transactions above will be authorised using the Secure Verification method via the Secure2u feature, instead of the Secure TAC method. To explain, the Secure Verification and Secure TAC methods are both authorisation methods that are enabled under the Secure2u feature. Secure Verification uses push notifications on your smartphone to let you approve or reject a transaction, whereas Secure TAC produces a six-digit TAC within the app to authorise your transactions.

“We highly recommend making the switch to Secure2u on the MAE by Maybank2u (MAE) app for your enhanced online banking security. However, you will still be able to use SMS TAC to authorise these transactions,” Maybank further noted in its latest notice, although it had also previously highlighted its intention to
fully migrate from SMS OTPs to its Secure2u feature by June 2023
.

Since the introduction of Secure2u back in 2017, Maybank has been gradually enabling the feature for various online banking transactions, including
all third-party (Maybank to Maybank) and Interbank GIRO (IBG) transfers, regardless of amount
. Originally available only on the Maybank2u app, Secure2u was also
eventually enabled for the MAE app in April 2021
, and has now been
permanently moved from the Maybank2u app to the MAE app
. This is as the bank is planning to
phase out the Maybank2u app in time
, leaving MAE app as its sole mobile banking app.

In its notice, Maybank also reminded that a 12-hour activation period is now applicable when you enable Secure2u on your MAE app for the first time, or when you enable Secure2u on the MAE app on a different device. This essentially means that you will need to wait for 12 hours to use Secure2u for transaction approvals after enabling it; this step is meant as an additional precaution to help prevent unauthorised approvals – as
per directed by Bank Negara Malaysia (BNM)
.

If you need guidance on how to activate Secure2u on your MAE app, here’s a video from Maybank to help you out:

Alternatively, you can also email Maybank at
[email protected]
 for further enquiries.

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Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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