Boost: Malaysian Consumers Contribute To Local MSMEs And Economic Recovery

(Image: The Star)

E-wallet service provider Boost has released some data that point to economic recovery, with Malaysians showing increasing support for micro, small, and medium enterprises (MSMEs). The data also indicated a growing acceptance for a digital lifestyle and contactless payments among businesses and the public.

In a statement, Boost revealed that there has been a 100% surge in the total gross transactional value (GTV) in August 2020 compared to December 2019. The total monthly GTV also showed a 77% increase between April and August 2020. This growth is further complemented by an 85% spike in purchases made with MSME merchants in July 2020 compared to April 2020. Put together, these data suggest that not only are Boost users spending more; they are also more supportive of local businesses post-MCO.

“While MSMEs have been hailed by as the backbone of the economy, it takes consumer spending to spur economic recovery. Collectively, Malaysian businesses and consumers have the power to impact the economy positively, and Malaysians understand this,” said the chief executive officer of Boost, Mohd Khairil Abdullah.

Khairil further said that Boost merchants from the small and micro business segment have performed better at maintaining earnings compared to larger enterprises during the downturn. “This shows that Malaysians are aware of the impact of their purchasing power and naturally shifted towards supporting MSMEs by shopping and dining locally, and still continue to do so,” he said, adding that the total user spend on Boost during the conditional MCO period had returned to pre-MCO levels.

(Image: The Star)

Boost also commented that the public support for MSMEs has grown because these businesses have taken the opportunity during this period to digitise themselves, such as adopting e-wallets as a safe and convenient payment option. It helps as well that Malaysian consumers have grown more comfortable with contactless payments. This trend is reflected in the growing popularity of the Boost Payment Link, which saw a 21-fold increase in transactions since its launch at the start of the MCO. The
Boost Payment Link
 is a contactless payment solution developed for businesses, allowing them to collect payments via email, SMS, or WhatsApp.

Finally, Boost said that it is well-positioned to bring merchants and users together on one platform, letting both parties fulfil their business and lifestyle needs in a sustainable manner. At present, Boost has 8.5 million users.

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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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Bank Islam’s irresistible buy 1 free 1 promotion at Capricciosa

Hungry for some Italian? To thank its cardholders for their support, Bank Islam is treating them to a
buy 1 free 1 pasta promotion at Capricciosa Sunway Pyramid, Pavilion KL and Subang Parade
.

Payments can be made with either Bank Islam’s Debit Card-i or Credit Card-i. Deal ends on 31 March.

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GE15: Young, First-Time Voters Deterred From Voting In Home States By High Airfares

(Image: Harian Metro)

Political expert Azmi Hassan has highlighted the woes of young and first-time voters with regard to high travel costs as the country prepares to go to the polls for the 15
th
 general election (GE15). He also urged the authorities to heed their grievances as they make up a significant portion of the electorate.

“Based on the Election Commission studies, 40% of the total voters are young voters (aged between 18 and 21 years old), and out of that, 1.1 million are first time voters. They will create an impact if they vote,” said Azmi, who is also a senior fellow at the Nusantara Academy for Strategic Research, adding that Malaysia has a total of 21 million voters.

Many of these voters may, however, reconsider returning to their home states to vote due to the high airfares – among other reasons. Azmi said that this is especially the case for those who need to travel from Peninsular Malaysia back to East Malaysia for the occasion.

For instance, it was reported that a direct flight from Kuala Lumpur to Kota Kinabalu (Sabah) and Kuching (Sarawak) a week prior to the polling date (single fare) is priced between RM250 to RM350 on Malaysia Airlines’ and AirAsia’s websites. The price of flight tickets
after
 polling day, however, rose significantly; as such, those who travel home to vote may need to pay about RM600 to RM700 for round-trip tickets.

“I hope that subsidies, particularly for airfare, would be given to voters from Sabah, Sarawak, and in the Peninsular,” said Azmi.

Meanwhile, caretaker Transport Minister, Datuk Seri Wee Ka Siong had reassured last week that the Malaysian Aviation Commission (MAVCOM) will
regulate the prices of flight tickets ahead of GE15
. He said that it is unusual for flight ticket prices to increase if there is a sudden surge of demand among passengers due to an event, as the dynamic price mechanism is in play. However, airlines that were found to have raised prices indiscriminately outside of the mechanism will be penalised.

Aside from that, several airlines – including including
Malaysia Airlines, MASWings, Firefly
,
Batik Air
, and
AirAsia
 – have also said that they are offering discounted fares and adding extra flights to cater to the needs of GE15 voters. Malaysia’s GE15 is set to take place on 19 November 2022.

(Sources:
New Straits Times
,
Free Malaysia Today
)

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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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Terlebih Beli During Sales? Kenalah Sell!

Malaysians love shopping, and it certainly showed in the recent sales, with many shoppers eagerly tapping into flash deals and promotions by e-commerce platforms for great bargains.

But what comes after the discounts and massive price cuts – apart from the anticipation of your new goods coming in your mail? For some, perhaps the dawning realisation that you might just have over-shopped; and for others, a need to declutter or sell out preloved items to make way for the incoming new goods.

If you feel like you fit into either of these groups, then why not head over to Mudah.my? With its launch of the “Kena Sales? Kena Sell!” campaign, it might just be the right solution for you.

Kena Sales? Kena Sell! – Making Way For More

The idea behind the “Kena Sales? Kena Sell!” campaign is pretty straightforward: sell, earn, and declutter. It’s primed for those of you who have emerged from the recent online flash sales with a new need to earn back some cash or to unload some of the extra stuff that you now have at home.

Maybe it’s the unworn pair of trousers sitting in your cabinet, or a gaming controller that you’re thinking of giving away now that you’ve bought a new one. Or even the new set of dinnerware that you’d bought as a Christmas gift for your mom, but then thought better of it.

Whatever it is, the “Kena Sales? Kena Sell!” campaign is where you can earn some money by selling off your unused or preloved goods on Mudah.my, and simultaneously make some headway into the upcoming year-end spring cleaning.

Andrew Pinto, Head of Marketing at Mudah.my has this to say: “If you are like the many shoppers out there wanting to get more bang for your buck, it is often hard to resist a good sale. Especially with year-end sales drawing near, we want to showcase how Mudah.my can help consumers in a fun and entertaining way.”

Understanding full well the impact of being bombarded by sales during the year-end, this time, Mudah is switching the focus from buying to selling. With a humorous video and an even catchier song, they’re reminding Malaysians who spent excessively during the sales that there’s opportunity let go of their unwanted or unused items and earn some money back with Mudah.my.

Mudah.my: Malaysia’s Largest Marketplace

Mudah.my has long made a name for itself as one of the pioneers in Malaysia’s e-commerce industry. It has also emerged as the county’s largest online marketplace, with an emphasis on its convenience as a platform to buy and sell anything, anytime, and anywhere.

This focus on simplicity and ease is tantamount to all Mudah.my users, both consumers and sellers; and is supported by a robust network of technology and data. It’s all about keeping the front-to-back procedures as effortless as possible – from the application and verification process as a seller to the relevant searches and service suggestions for buyers.

With over 50 categories of items offered on the site now – including home and personal items, electronics, vehicles, hobbies, real estate, careers, and services – Mudah.my certainly lives up to its mission to democratise commerce for Malaysians everywhere.

To find out more about how you can be part of Mudah.my’s “Kena Sales? Kena Sell!” campaign, head on over to their
website
or
Facebook page
.

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Non-Financial Investments Fresh Grads Should Make

Graduates venturing into the job-market, juggling between various work-life commitments, will often find themselves dazzled by the enticing lure of spending half of their income or pay-check on a big night out or on paying off various debts (car loans, rentals, etc).

For someone still trying to find his or her footing in the working world and learning the ropes of being financially dependent, it is no surprise that the expenses seem to overtake the income far too easily. However, a broader understanding of what it means to invest in something as well as its application might prove beneficial not just financially but also in our character growth.

What Does it Mean to Invest?

Although, mostly used in an economic setting, we can derive the word ‘invest’ to mean making use of something for future benefit and advantage. Hence, we can practice the art of investing in an array of different settings with the different assets we have.

Investing isn’t always about money. You can invest your time, effort, energy and talents to garner a varied number of ‘returns’ in your future life.

If you’re a fresh graduate trying to find your footing in the world, these are some of the non-financial investments you can make that is sure to bring you attractive ‘dividends’.

Invest in a Cause You are Genuinely Interested In

We are digitally connected to many causes and independent start-ups. Funding platforms such as
Kickstarter
 and its Malaysian counterpart,
PitchIn
 have made supporting a myriad of interesting projects a whole lot easier.

Keen on raising awareness on important environmental projects? There are projects for that! How about supporting people trying to produce a cool tech piece or even a show? Depending on how much you contribute, you not only help them achieve a goal you’re passionate about, you also may receive some cool merchandise.

A benefit of crowd-funding platforms is that, a little goes a long way. It is a great first-step for beginners looking to place a nominal amount of money towards a worthy cause. As we sift through the various projects available for funding, we also learn more about what tugs at our heartstrings too, thus developing a greater sense of self-awareness and empathy.

Invest in the Relationships Around You

Investment doesn’t merely come in the form of treasures. The sooner we learn to invest our time wisely, the sooner we will reap its benefits. In the working world, an experienced mentor investing in a novice is able to drastically shorten his or her learning curve.

Although this might mean forging a few relationships that doesn’t show immediate returns, in will prove crucial in the long run in developing high-calibre individuals whilst minimising potential pitfalls.

Our relationships with loved ones should also be properly invested in. Be it family, friends or colleagues, investing ample time and effort into these relationships is important as we cannot function in isolation. Our interactions with people around us will teach us an essential element of investing; patience! The process may be arduous (even lasting a life-time), but the rewards of having a support system makes it worthwhile.

Invest More Than Just Money

Investing, even in small amounts can teach us many lessons about how we deal with money and the people around us. Many assume that the only investments that counts, is in the form of financial products but that isn’t always true. Invest in all the other areas in life and see not only your bank account and career grow, but also witness your own personal growth.

Speaking of investing, if you feel the need to invest some money check out our
comparison tool
 for different fixed deposit options available in the market.

Do you know of any other ways non-financial investments can enhance your life? Tell us your amazing tips in the comments section below.

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UOB Credit Card Perks at Blu Med

Can’t decide on whether you want Italian, Mediterranean or Japanese? Just go fusion! At the newly opened Blu Med you can satisfy your flaky taste buds with a range of quirky dishes that take inspiration from Japanese, Italian and Mediterranean ingredients. UOB credit cardmembers who dine-in are also reminded to present their plastic for a 10% discount off food bills. This does not apply to tobacco products or alcoholic beverages however.

This offer is valid from 2 May till 31 December 2013 and is not applicable with other offers, promotions, discounts, set menu, functions, special events and loyalty programmes. Please refer to the
Terms & Conditions
 for further information.

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UOB YOLO Visa Review: For The Savvy Millennials

Take a quick glance at the trendy promotional material surrounding the
UOB YOLO credit card
 and you can see that it is a credit card targeted towards young adults – although perhaps the name itself may have given that away.

UOB YOLO offers 5% cashback on online, dining, and contactless – all useful cashback categories for the urban millennial, and covers most of the categories that they would spend on (thanks mainly to the general “online” and “contactless” categories) However, once you take a closer look at the YOLO’s cashback mechanics, you’ll realise that this card may be more suited for the meticulous rather than casual credit card user. We’ll explain why below.

Cashback For The Fast And Furious

The
UOB YOLO credit card
 gives you 5% cashback up to RM30 a month, but this is dependent on a number of conditions. You must make a minimum of 5 transactions per calendar month in order to qualify for the cashback, and each transaction must be worth at least RM15. Furthermore, the transactions should either be on dining, online, or contactless expenditure.

This should be easy enough to carry out – in fact,
prior to 1 January 2020
, UOB YOLO credit cardholders had to make between 8-15 transactions to get 5% cashback and more than 16 transactions to get the now-defunct cashback rate of 8%. However, UOB also introduced a new restriction in the January 2020 revision: only one transaction performed to the same merchant within the same day will count towards your number of transactions. So, if you make multiple transactions to the same merchant on the same day, only the highest spend transaction will be counted as one of your five required transactions.

Note that there are some restrictions in cashback eligibility as part of the January 2020 revision – the much-loved JomPAY category has been exempted from cashback, while the “contactless” category excludes government, petrol, utility, and even telco bill payments are also excluded from earning cashback.

Another very important condition of the UOB YOLO credit card is that the total cashback payout offered to all YOLO cardholders is limited to RM160,000 per month – awarded on a first come, first served basis. So, it’s possible that even if you use your card the required five times a month, you may not get any cashback at all – it depends on whether others were quicker than you were to make transactions and qualify for the monthly cashback.

UOB isn’t obligated to tell cardholders when this cashback payout limit has been reached, so you wouldn’t know whether you end up qualifying for cashback until you check your statement the following month. While this factor may affect the convenience of using this card, you shouldn’t write it off completely. Just aim to use your card a minimum of five times at the beginning of each month to increase your chances of qualifying for cashback; for example, you can shop for essentials online at the start of the month.

Given the RM160,000 total cashback cap and a maximum of RM30 for each cardholder, a minimum of 5,333 YOLO cardholders will receive cashback each month. This pool is more generous compared to the pre-2020 version of the YOLO card, where total cashback was set at RM110,000 and capped at RM50 per cardholder, offering cashback to at least 2,200 cardholders per month. Therefore, the UOB YOLO is now capable of giving out cashback to more than twice as many customers as before, but sadly each cardholder gets up to RM20 less.

Cardholders we know have told us that they still managed to get cashback on transactions made on the second and third week of the month – the increased cashback pool and reduced monthly cashback cap per user definitely play their part here.

Your YOLO Requirements

The minimum annual income required to apply for the
UOB YOLO is RM36,000
, or RM3,000 a month. Some fresh graduates may be able to meet this income threshold immediately upon entering the workforce, but others may have to wait for a bit to reach this financial requirement. Yes, you only live once, but it’s necessary to have a bit more money coming into your bank if you want to embrace the financially-savvy millennial lifestyle.

UOB YOLO offers an annual fee waiver for the first year on your principal card and a two-year waiver for supplementary cardholders. After that, there is a RM90 annual fee for principal cardholders (where you get charged RM7.50 every month), but this is waived when you make one retail transaction per month. As long as you use your card consistently throughout the year, it’s virtually free. Supplementary cardholders are charged RM30 annually.

Verdict: A Card For The Organised Millennial

While it does feel like the UOB YOLO credit card is designed to encourage you to spend more and spend quickly, five transactions a month isn’t actually a demanding requirement – even if you do need to hit those transactions earlier in the month.

Moreover, the YOLO’s cashback conditions are quite manageable when you compare them to some tiered cashback cards that require you to spend thousands of Ringgit a month to get good cashback earnings. At a minimum of five transactions worth at least RM15 each, you’d only need to spend a minimum of RM75 in a month to unlock the UOB YOLO’s cashback, or RM600 a month to earn the full RM30 monthly cashback. It’s more than decent, considering the relatively lenient requirements.

The UOB YOLO also periodically offers promotions that are clearly designed to target the younger crowd’s entertainment needs – previous campaigns have included drinks discounts at Kyo KL nightclub,
RM5 GSC movie tickets on Fridays
, and even a 0% overseas easy payment plan.

All in all, if you are a millennial capable of planning your expenses around the start of the month, then the UOB YOLO is a great credit card for getting cashback out of your shopping sprees – both online and offline – as well as your foodie cravings.

You can apply for the
UOB YOLO
 credit card here on RinggitPlus.

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    Blazing Rumba

    2 years ago

Every since UOB changed the rules of the “game” in Jan this year (2020), I made my 5 transactions on the morning of 1st of each month and yet was unable to get full cashback commensurate with the amount spent. The cashback amount dwindled each month to the extent I made the 5 transactions at 12.01am on 1st of the month. That didn’t work either. So it seems everyone has wised up to getting first in line for the pool money. Since last month September I’ve given up chasing the cashback and stopped using the card. Will keep it as
…
Read more »

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    Pang Tun Yau

    2 years ago

    Reply to

        Blazing Rumba

That’s weird. I’ve been getting consistent cashback with this card even when fulfilling the 5 transactions in the middle of the month.

Note that there are a few caveats to remember:

– if there is more than one transaction of the same “type” (online, contactless, dining) in one day, it’s counted as one transaction only

– each transaction must be a minimum RM15

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HLB Partners With Soft Space, JCB To Drive JCB Card Acceptance In Malaysia

Hong Leong Bank (HLB) has entered into a partnership with local fintech and digital payments service provider, Soft Space, as well as Japanese credit card company, JCB International to increase the acceptance of JCB cards in Malaysia. This comes as Malaysia’s tourism industry continues to recover post-Covid-19, with more Japanese travellers making their way here.

Specifically, Soft Space has signed a master licence agreement with JCB International that allows Soft Space to work with local acquirers – such as HLB – to promote the acceptance of JCB cards among their merchants. In fact, one of HLB’s merchants that have already begun accepting JCB card payments is the five-star hotel Sofitel Kuala Lumpur Damansara.

According to the managing director of personal finance services for HLB, Andrew Jong, this collaboration with JCB and Soft Space indicates the bank’s commitment in rolling out products and services that cater to the needs of its merchants and customers. “With an influx of tourists and expats coming from Japan into Malaysia, the option to accept JCB cards will ensure convenience for its cardholders and provide businesses with an additional opportunity to capture more tourists and grow their business,” he said.

Meanwhile, the chief executive officer of Soft Space, Joel Tay said that this collaboration represents a first step in the company’s ambition to roll out similar cross-border payment agreements in Southeast Asia. It hopes to ride on the current wave of increasing contactless card payments in the region to boost JCB card acceptance.

Similarly, president and chief executive officer of JCB International, Yoshiko Kaneko said that establishing a partnership with HLB is a huge step forward for the expansion of JCB acceptance network in Malaysia. “We can now better serve JCB card members coming to Malaysia not only from Japan, but also from the ASEAN region where we have more than 10 million card members,” he said.

As Malaysia’s tourism industry continues to grow in 2023, Japan has become one of the top 10 contributors to tourist arrivals and spending in Malaysia. This is expected to continue as Malaysia continues to work towards its current target of welcoming 16.1 million international tourists and generating RM49.2 billion revenue from tourism.

Meanwhile, Soft Space has already had previous liaison with JCB since 2022, where JCB agreed to
inject US$5 million into Soft Space
. The companies will also work together on a range of efforts, including establishing card issuing solutions and providing customer marketing offerings.

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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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Can The New Samsung Yearly Upgrade Program Save You Money?

Samsung has announced a new yearly upgrade program for its flagship smartphones. The
Samsung Yearly Upgrade Program
 offers customers who purchase the Galaxy S9 or Galaxy S9+ to upgrade to the next Galaxy S flagship (probably called the Galaxy S10) at a discount – plus some other immediate perks.

The Samsung Yearly Upgrade Program, which is offered at RM100 for customers who buy a Galaxy S9 or S9+ during the promotion period, actually offers three perks that appear to save you quite a bit of money. Here’s a breakdown of the Samsung Yearly Upgrade Program.

1) 10% Off The Next Samsung Galaxy S Flagship Smartphone

Samsung is offering an immediate 10% discount for the next Galaxy S flagship in 2019. Based on the terms and conditions, customers must purchase the Yearly Upgrade Program at the same time as the purchase of the Galaxy S9/S9+, and register for the program in-store using the Samsung Members app in the phone.

There is one caveat: the Yearly Upgrade Program discount only applies from the 13th to 15th month of the purchase of the current device (Galaxy S9/S9+). That means this program will not coincide with the launch of the next Galaxy S device in Malaysia, which usually takes place in the first quarter of the year. The current Samsung Yearly Upgrade Program promotion starts 2 July 2018 until 2 September 2018.

This means that if you purchased the Galaxy S9 or S9+ with the Yearly Upgrade Program in July 2018, the earliest you can enjoy the discount is in August 2019 – by which time Samsung may already have launched the next Galaxy Note smartphone (its other flagship smartphone of the year).

2) Free Screen Protection for the Samsung Galaxy S9/S9+

Each purchase of the Samsung Yearly Upgrade Program also comes with 1-year free
Screen Protection from Samsung
 for the Galaxy S9/S9+. This extended warranty protection covers the cost of one screen crack repair within 1 year of purchase of the device. With this, customers only need to pay a RM100 service charge to replace the cracked screen instead of paying full price for parts, labour, and service.

Given that the Screen Protection warranty is sold at RM149, opting to get the Samsung Yearly Upgrade Program already saves you RM49 regardless if you choose to utilise the 10% discount next year.

3) 1-month waiver for 12-month EPP purchase

Finally, if you purchase the Galaxy S9/S9+ with a 12-month Easy Payment Plan (EPP), Samsung will also subsidise one month of the instalment.

Is it worth it?

Given that there are some consumers who live on the bleeding edge of technology and upgrade their smartphones frequently, an annual upgrade program does make sense. Most of the telcos in Malaysia have a phone leasing program catered to this group – the difference here is that in those plans, you don’t actually own the phones. With Samsung’s Yearly Upgrade Program, you own the devices outright.

However, the timing (and conditions) of this promotion is rather odd. The upgrade program is launched about four months after the Galaxy S9 and S9+ were released in Malaysia, and the conditions state that you can only apply the 10% discount within the 13th to 15th month after you purchased the S9/S9+. That means the 10% discount won’t apply at the time the next Galaxy S smartphone is launched here – you’ll have to wait at least until August 2019 before the discount can be applied.

If history is anything to go by, you can expect the device to already see some discounts by that time. For example, the Galaxy S9 64GB is now going for
as low as RM2699 as part of 11street’s Shocking Deals
 – more than 10% off the RM3109 RRP. The larger Galaxy S9+ 64GB can be purchased for
RM3258 on 11street
, which is still below the current RM3579 RRP.

Additionally, the one-month EEP waiver has a value of anywhere between RM259.08 to RM345.75 (depending on model and storage size), and coupled with the free screen crack protection worth RM149, you’re looking at an immediate saving of up to RM494.75.

Taking the Galaxy S9 64GB as an example, the savings you get for buying the device with 12-month EPP and subscribing to the Yearly Upgrade Program would cost RM2949.92 (RM3109 device price + RM100 YUP fee – RM259.08 EPP waiver). Compared to the RM2699 deal, the extra RM250 or so you end up paying here gets you the screen protection warranty (RM149 value) plus the 10% discount for the next Galaxy S device.

At the other end, the Galaxy S9+ 256GB has a retail price of RM4149 – the best deal we found for this is
RM3599 in Lazada (using the store’s RM100 voucher)
. The cost of buying this model with the Yearly Upgrade Program would be RM3903.25 (RM4149 device price + RM100 YUP fee – RM345.75 EPP waiver). Compared to the RM3599 deal, the extra RM300 or so you pay for the YUP program gets you the screen protection warranty (RM149 value) and the 10% discount.

Overall, you will end up paying more by buying the Samsung Yearly Upgrade Program (YUP) even when you take into account the value of the 10% discount for the future device. Historical pricing of Samsung’s flagship devices indicate that you can almost expect a 10% or so drop in RRP 4-5 months after it is launched. Therefore, the YUP Program is a “nope” in terms of value for money.

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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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BigPay Joins DuitNow Ecosystem, Adopts DuitNow QR

BigPay has become the latest e-wallet to join the growing DuitNow ecosystem as it has announced a partnership with Payments Network Malaysia (PayNet).

The partnership will allow BigPay users to make instant domestic fund transfers by keying in the recipients’ mobile, MyKad, passport, or registration numbers. They will also be able to transfer to those who do not have a BigPay account, thus making for a more convenient transfer method.

BigPay users will also be able to make QR payments at various merchants as BigPay adopts the
DuitNow QR
, Malaysia’s national QR code standard. The DuitNow QR is essentially a common QR code that allows customers to pay using any of their preferred mobile payment methods, as long as the bank or e-wallet is part of the DuitNow ecosystem. This adds to BigPay’s existing functions, which currently lets you make payments at point-of-sale terminals and withdraw money from ATMs (locally and abroad) via its physical prepaid card.

(Image: FintechNews Malaysia)

“We’ve always pushed for more choice, lower costs, and more interoperability when it comes to payments and transfers. It’s the reason we chose to combine a mobile app with a card that you can use with millions of merchants worldwide. Joining the DuitNow ecosystem was the next logical step,” said the chief executive officer of BigPay, Christopher Davison.

BigPay is scheduled to go live on DuitNow later this year, and will also be one of the early participants in the launch of DuitNow’s second phase, dubbed DuitNow 2.0. The second phase will see participating banks and e-wallets benefitting from new payment options, such as request-to-pay, real-time debits, and debit consents on-file.

Prior to BigPay’s inclusion,
GrabPay
 was the first e-wallet to join the DuitNow ecosystem, followed by
Touch ‘n Go eWallet
.
ShopeePay
 also became the first e-wallet of an e-commerce platform to do so.

(Source:
FintechNews Malaysia
)

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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 i-Citra Withdrawal Application Begins Today, Three Days Ahead Of Schedule

Members of the Employees Provident Fund (EPF) below the age of 55 will be allowed to apply for the i-Citra withdrawal facility starting from today – three days earlier than scheduled.

With this, eligible EPF members will be able to withdraw up to a maximum of RM5,000, subject to the total combined balance in both their Akaun 1 and 2. “The approved withdrawal amount will be paid for a period of up to five months, with a fixed monthly payment of RM1,000 per month subject to savings balance. The first payment is expected to be credited into the respective members’ bank accounts from August 2021,” said the EPF in a statement.

The provident fund also reminded individuals who wish to apply to ensure that the mobile number used in their applications matches the one found in the EPF’s records. This is so that they can receive the one-time password (OTP) required to verify their applications. Additionally, applicants must also ensure that they have an active bank account to receive their i-Citra payments.

(Image: The Edge Markets)

For context,
the i-Citra withdrawal facility
 was introduced as part of the PEMULIH stimulus package as a temporary relief measure for the Malaysian public while the country continues to grapple with the economic impact from Covid-19. It is also the third of such assistances rolled out by the EPF, with the first two being
i-Lestari
 and
i-Sinar
. Applications for the i-Citra facility were previously
set to begin on 15 July 2021
, and will remain open until 30 September 2021.

If you have any enquiries regarding the i-Citra withdrawal facility, you can contact the EPF via its i-Citra hotline at 03-8922 4848. Alternatively, you can head on over to the
EPF’s i-Citra Online website here
 for more information or to begin the application process.

(Sources:
EPF
,
The Star
)

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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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    Anonymous

    2 years ago

May I ask why it’s only limited to 55 & below? Those over 55 does not require money?

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Apply For Credit Cards To Win RM1000 Cash Via DuitNow, Apple Watch Series 8 & More

In the mood to win some gifts? Unbox This Week is offering you a chance to take home exciting prizes like Apple Watch Series 8, RM1000 Cash via DuitNow, and even the iPad A13 Bionic!

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 5 to 12 December 2022, our featured bank partners are

none other than
Citibank, HSBC Bank, Standard Chartered Bank, Alliance Bank, RHB, 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 – RM600 Cash via DuitNow

Walk home with RM600 cash via DuitNow when you apply, activate, and spend with a new Citi Credit Card! Whether you choose to share with someone you love, use it to pay for your purchases, or invest it for a potentially greater return, it’s undeniable that you could do a variety of things with this guaranteed reward.

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 Watch Series 8

Stand to win all new Apple Watch Series 8 this week with HSBC! Complete with a big, brilliant Always‑On display, the watch has highly-advanced features optimised to plenty of sport modes. So if you need a buddy to encourage higher activity levels, this may just be your next best friend.

Plus, you’ll get closer monitoring of your heart rate, sleep, and oxygen levels. From a design perspective, its narrow borders push the screen all the way to the edge, resulting in an elegant integration with the curvature of the case.

Don’t worry if you don’t win the Apple Watch because you’ll still be guaranteed RM600 Cash via DuitNow.

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 – Panasonic NanoeX Air Purifier

Can our homes ever be too clean? Stand to win the Panasonic NanoeX Air Purifier to purify the air of your home or even office! It eradicates viruses, bacteria, and odours while keeping skin and hair hydrated.

Complete with a HEPA Composite Filter, this air purifier inhibits allergens and viruses by up to 99% and prevents bacteria reproduction.

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 – RM1000 Cash Via DuitNow

This week, you could win RM1000 Cash via DuitNow when you apply, activate, and spend with Standard Chartered Credit Cards! There’s endless options to explore with RM1000. You could have a hearty meal at a fancy restaurant, purchase the new electronic gadget you’ve been eyeing, or maybe even take a trip somewhere meaningful.

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 Mijia Water Dispenser C1 or Xiaomi 70mai 1S Dash Cam 1080p

Apply for a new Alliance Bank Credit Card and take home a brand new Xiaomi gift!

When you apply for an Alliance Credit Card with Balance Transfer, you’ll be getting the Xiaomi Mijia Water Dispenser C1. This water dispenser offers 3 levels of temperatures, a quick one-button start, and has a large 2.5L tank capacity.

These days, you can never be too careful on the road. To help you get footage in case anything happens, you’ll be rewarded with a guaranteed Xiaomi 70mai 1S Dash Cam 1080p when you apply for an Alliance Bank Credit Card.

Upon approval, you just have to activate and spend to meet the requirements of the campaign and be eligible to get the prize. 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 – Apple iPad A13 Bionic

Multitask like a champ with the powerful A13 Bionic processor, which delivers impressive performance and capabilities while providing all-day battery life. The 12MP Ultra Wide front camera with Center Stage ensures your video calls are always delivered sharp and crisp. Don’t pass up on this chance to win the iPad as it can be used for working, studying, and even just for fun!

If you don’t win the iPad, you’ll still be guaranteed RM200 Touch ‘n Go e-Wallet Credit for your tolls, meals, and other purchases.

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 12 December (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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Lisa Ameera Azman

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Say Yes To Guaranteed RM1000 Duit Raya, Lenovo Tab, & More This Week!

Even if the week-long holiday ends, the essence of Raya continues with these guaranteed gifts this week!

For those who are new, the Unbox This Week Campaign is a weekly campaign where we present the best deals from our featured bank partners. All you have to do is apply for selected credit cards from these banks through RinggitPlus and you’ll receive exclusively selected gifts!

For this week (9 May – 17 May 2022), our featured bank partners include
Citibank, HSBC, Standard Chartered Bank, Alliance Bank, and Ambank
 – if you have considered applying for any of these banks, check out our latest deal below!

Citibank – Guaranteed RM1000 Cash via DuitNow

As adults, our chances for Duit Raya dwindle to zero but there’s always light at the end of the dark tunnel.

Apply, get approved, and spend with your new Citibank credit card to get the guaranteed RM1000 Cash into your pocket via DuitNow! Whether it’s to shop, save, or invest – a thousand ringgit is surely a welcomed helping hand today.

To be eligible, applicants are required to apply for a Citibank credit card, get approved, and spend a minimum of 8 retail transactions on their new card within 60 days upon gaining approval.

Take note, though, that current cardmembers and individuals who have cancelled their Citibank credit cards within a year before this campaign do not qualify for this promotion. Otherwise,
apply for a Citi credit card here.

HSBC – Guaranteed Lenovo Tab M10 FHD Plus (2nd Gen)

Worth a minimum of RM859, this ultra-modern tab proves itself a contender in its league. Packed with an all-metal body, 10.3″ FHD display, and dual speakers with Dolby Atmos®, the Lenovo Tab M10 is bound to give you endless and immersive entertainment. Plus its Smart Charging feature allows you to stay on go while being efficient and productive.

To take it home, just apply, get approved, and spend with a new HSBC credit card.

Just remember that current cardholders and applicants who were denied or have cancelled their HSBC credit cards within 6 months before this campaign are not eligible to take part in this campaign. Otherwise, you can
apply for your HSBC credit card here.

Standard Chartered Bank – PerySmith 4.2L 3D Air Fryer or URBANlite Trapez 24” 8-Wheel Spinner Luggage

With an all-new ECOHEALTH technology for healthier meals and faster heating with its 9-blade 3D airflow heating system, the PerySmith 3D Air Fryer is guaranteed to not only serve up hearty meals but is aesthetically pleasing to see in the kitchen.

Apart from that, the URBANlite Trapez 24 inch 8-Wheel Spinner Hard Case Luggage is durable yet stylish enough to take with you throughout your travels this year.

Whether you’re prioritising your cooking skills or your travel list, either one of these guaranteed gifts is yours when you apply, get approved, and activate your new Standard Chartered credit card. Applicants are still required to activate their card within 30 days upon approval to be eligible for this prize.

Lastly, be aware that existing cardholders and individuals who have held a Standard Chartered credit card in the past 6 months are not eligible for this campaign. If you qualify, then you can
apply for your new Standard Chartered credit card here
.

Alliance Bank – Guaranteed RM200 Shopee e-Voucher or Xiaomi Redmi TV Soundbar

The sale season during Raya may have ended but our lookout for deals and discounts never ends on Shopee, and even more so when we’re looking for the right home gadget to improve the ambience of our home.

So, apply for an Alliance credit card this week to get either a guaranteed gift of RM200 Shopee e-Voucher to check out your Shopee cart or fill your home with great music to take in good vibes with the Xiaomi Redmi TV Soundbar.

For either prize, applicants are required to activate their credit card upon approval to be eligible for the prize.

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.

Ambank – Morgan Air Fryer

The option to have your favourite fried foods without oil is possible with the invention of air fryers. Basically, a compact, mini-oven that allows you to cook, bake, grill, and even roast, the Morgan Air Fryer allow you all this and more with its rapid air circulation system.

To score this appliance, all you need to do is apply, get approved and activate your Ambank credit card within 30 days upon approval to be eligible for this prize.

Existing cardholders and individuals who have held or cancelled an Ambank credit card in the past year are not eligible for this campaign.
Apply for an Ambank Credit Card here.

***

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

While this week’s flash deal ends on 17 May 2022 (11am), you can also 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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Katrina Balan Quiroz

Katrina Balan Quiroz

Copywriter. Katrina is fueled by a need to turn a confusing wall of text into something comprehensible, and drip coffee.

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Death or Divorce: What will happen to your Joint Account?

Every married couple manages their finances differently. Depending on the nature of their relationship, some couples prefer to have a shared commitment to their household finances whereas others would have each person simply managing their own finances and paying for their fair share of the bills separately. For easy payment and convenience, the joint account is the best tool to pay for collective expenses but this convenience can come at a price in the event of death or divorce.

During the bliss of marriage especially amongst newly weds, it’s easy to overlook the importance of preparing for the unexpected or the worst case scenario. In the event you or your partner decides to call it quits; or if one of you passes on, what would happen to your joint account? It doesn’t have to remain a conundrum. This topic may raise discomfort, however it’s worth discussing to avoid these hiccups in future.

When divorce happens

Whether it’s child custody or asset distribution, not every divorce case will require a court proceeding. In the best case scenario, you and your spouse can discuss and agree upon asset distribution without issues. Essentially, both of you share equal rights to decide whether the funds in your joint account should be distributed evenly or retained as it is for the purposes of paying household expenses and child support.

When a spouse passes on

It’s bitter pill to swallow when a spouse unexpectedly passes on. As if having to deal with this unfortunate event isn’t hard enough, setting joint finances in order can be another headache. Many married couples operate under the misconception that they can still gain access to their joint account if anything were to happen to one of them. However, that isnt true. When the bank is informed about a person’s death, the account in question shall be frozen until a court order is obtained. In this period of time, the surviving spouse will be unable to withdraw any money.

But how is such a situation avoided? For those of you who didn’t know, some banks for the incorporation of a survivor clause which would allow the surviving spouse to get access to their joint account much like a joint tenancy contract. What’s a joint tenancy? A joint tenancy is more commonly used when dealing with real property ownership. It’s a contract to prove ownership of a property by two or more people.

What’s great about these agreements are the clause known as
Survivor of Ownership
 which allows you to inherit the property when one joint owner passes on. Some banks actually do adopt such a clause for joint account owners hidden within pages of terms and conditions. However, this is not available to all banks so it is important to ask your bank if this clause exists so if it is not included; you can find other options to deal with the issue.

Preparation is key

While marriage is not always lasting and death a surety; preparing yourself for these scenarios could offset any issues related to distribution. Here are some things you can do to make sure everything goes smoothly in the event of death or divorce:

Talk to your spouse.
 Though it is not a pleasant topic by any means but talking about what will happen if either death or divorce should part you is important. Whilst
prenuptial agreements
 are not expressly provided for in Malaysian marriage law; you can still draw one up and have it enforceable by the powers of the Contracts Act 1950.

Read your bank T&Cs.

Reading your bank T&Cs should be a must-do
 but many people take it for granted that they already know what they need to about the product. Ask about the survivorship clause as well as any rulings in the event of divorced joint account holders. This prepares you for Plan B if the bank doesn’t offer avenues for redress.

Have a separate personal account.
 Although it might seem like it goes against the point of having a joint account in the first place – it always makes sense to have one account that is only yours. This account can be used to store money for personal purchases or in the event of separation from a spouse. This fund will act as a buffer for the time it takes for your joint account money to be free for your use once again.

The end of a relationship doesn’t have to signal the end of your personal finances. With adequate information you can take the right steps to manoeuvre many of life’s financial eventualities.

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Treat Yourself to Exquisite Sashimi Moriawase at Rakuzen with HSBC Special Privileges

Any sashimi lover will attest that Rakuzen’s Sashimi Moriawase platter is one of the best in the Klang Valley. A tantalizing mix of fresh tuna, salmon, boiled octopus and fresh cuttlefish; it is a must-have if you’re ever at the eatery.

With HSBC’s special Privileges, you can get a 20% discount off this signature dish just by paying with your HSBC Credit Card.

Picture taken from Rakuzen’s Official
Page

The deal runs from 1 November 2012 to 31 October 2013 at all Rakuzen outlets. For more info, check out the promo
flyer
.

If you don't have a HSBC Credit Card yet, check our
site
 for HSBC's range of credit cards and apply online.

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Visa Concierge Is Malaysia’s First Mobile App For Concierge Services

Visa has launched Visa Concierge, the first-ever mobile app for concierge services in Malaysia. Designed for affluent cardholders, this app will enable users to access concierge services digitally straight from their smartphones.

The Visa Concierge app offers users a direct channel to arrange for services like hotel, flights, and restaurant reservations, event ticket purchases, and other enquiries in real time. It also includes a live chat function for customers to chat with Visa’s customer service representatives directly if they need to make personalised or bespoke concierge requests.

"We have one of the highest smartphone penetration rates in the world, and naturally, our affluent cardholders are also becoming increasingly digital and use their mobile devices for various purposes," said Visa country manager for Malaysia Ng Kong Boon.

"With the introduction of on-demand apps in the market, where Malaysians become accustomed to ordering and purchasing a product or service on the go, they are used to a high level of speed and efficiency," he added.

According to Ng, Visa saw the need to provide their affluent cardholders a similar level of efficiency for concierge requests. With the creation of this app, Visa believes that more affluent Malaysians will be making their concierge requests digitally.

The mobile app can be downloaded from both the
App Store
 and
Google Play
.

(Source:
The Star
)

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    eli

    1 year ago

I tried to download the app but unable to find it on Google Play. Asked visa concierge and they confirmed that the app has been discontinued since 28 Feb 2022

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The Difference between Gold, Platinum and Premium Credit Cards

Gold and platinum and, above them, premium credit cards have long been financial shorthand for products offered to consumers with high financial status – that is, large incomes and excellent credit ratings.

But what are the main differences that separate these cards?

Income Requirement

In Malaysia, the absolute minimum income you need in order to own a credit card is RM24,000 p.a. (that’s RM2,000 per month) and this usually applies to classic and gold credit cards. The minimum income requirement to own a platinum card in Malaysia is RM60,000 p.a.

Going a step further, there are also ‘premium’ credit cards which have steep income requirements (often RM100,000 p.a. or more) and exclusive ‘invite-only’ credit cards which normally need you to have a certain amount of your assets under management (AUM) with the bank.

Credit Limit

Under the new credit card guidelines introduced by Bank Negara Malaysia on 18 March 2011, the maximum credit limit that can be extended to you cannot exceed more than 2 times your monthly income. So, if you just meet the income requirement for your credit card, then a
platinum credit card
 is going to have a higher credit limit compared to a gold card.

Annual Fee

In general, the more “exclusive” cards are often accompanied by steeper annual fees.

Platinum cards usually have a higher annual fee compared to their gold counterparts. For example, the
Hong Leong Wise Platinum
 has an annual fee of RM300 compared to the
Hong Leong Wise Gold
’s RM160.

There is some good news though – a fair amount of cards in the market don’t even impose an annual fee, and if they do it can usually be waived simply by swiping your credit card 12 times a year.

Rewards and Benefits

Perhaps the main difference between these cards is the additional rewards and benefits provided. Premium credit cards are often unique and tend to offer better cashback, higher reward point multipliers and more attractive benefits compared to platinum and gold cards – but then again, you would have to be earning a lot of money to own one!

The
Citi Prestige Card
 is a good example. Cardholders can accumulate Citi Rewards Points which never expire. On top of that, loyal cardholders will be given tiered rewards of up to 40% cashback on annual spending based on the number of years they have been a customer. Fantastic benefits! – did we mention that the minimum income required to own this card is RM200,000 p.a.?

Platinum cards are usually quite similar to their gold counterparts, offering maybe an extra benefit or two.

For example, the Hong Leong Platinum Visa Card comes with a personal accident insurance of up to RM1.7 million; with the gold card you get RM750,000, and RM350,000 with the classic card. Overseas coverage is offered for the platinum card but not for both the gold and classic cards.

Is it really worth getting a platinum or premium card?

Yes it is. Like we said previously, most credit cards in the market often waive their annual fee or even have no annual fee at all. Aside from the yearly RM50 service tax, that’s pretty much the only cost you’ll incur – so why not enjoy the extra benefits and flashy new design?

Thinking of applying for a card? Check out
our credit card section
. We make it easier for you to find the credit card that suits you best.

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    Saiful hisham bin mustafa

    2 years ago

Master card gol primium

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UOB To Shut Down PayOnline Service In June 2019

UOB Bank will terminate its
PayOnline bill payment platform
 on 1 June 2019. A favourite among credit card cashback hunters, UOB PayOnline has seen a steady drop in users, making it unsustainable to continue.

UOB PayOnline is an 24/7, online bill payment service operated by UOB Bank. Despite being managed by UOB, this service accepts all Mastercard and Visa credit cards to pay for a comprehensive range of bills in Malaysia, including utilities, telcos, insurance, government agencies, charities, and many more.

While most people may not have heard of this service, it is actually very popular among
savvy credit card users
 in Malaysia. Bills paid on PayOnline are considered “online” transactions, which meant that users could earn cashback for paying their bills. Cards that offer
cashback for online transactions
 are more common than those that offer
cashback for bill payments
, so this was a useful way to save hundreds of Ringgit a year.

On top of that, bill payments using JomPAY are not eligible for cashback on almost every cashback credit card (the
UOB YOLO is an exception
), so UOB PayOnline is actually the only one-stop portal for bill payments that users could get cashback benefits from.

Unfortunately, the popularity of JomPAY is the main reason behind UOB’s decision to shut down PayOnline. In its FAQ section, UOB explicitly stated that JomPAY as well as the increasing number of service providers offering their own bill payment portal resulted in a significant reduction of users on PayOnline. The bank explained that with the current amount of users, PayOnline is unsustainable.

Users can continue to use UOB PayOnline – and enjoy cashback benefits – until 1 June 2019, after which the site will be taken offline.

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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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Shopee Alerts Public Of Scammers Impersonating Employees To Offer Employment And Rewards

(Image: Bloomberg/Nicky Loh)

E-commerce platform Shopee has alerted the public of individuals online who are impersonating Shopee employees as part of their scams. These individuals will reach out to people via various messaging platforms – including WhatsApp – to offer employment opportunities, cash rewards, and lucky draw prizes.

“Shopee does not employ any individuals to recruit employees through messaging platforms for purposes of ‘increasing the exposure rate of merchants’. Moreover, Shopee will only be hosting contests such as Lucky Draws, Tap and Win, and Spin and Win via the official Shopee app, official Shopee social media pages, and official Shopee WhatsApp verified business account, which will bear the ‘verified’ check marks,” the e-commerce platform emphasised in a statement.

Shopee further urged the public to avoid falling prey to these fake offers or rewards, and to quickly file a police report if they encounter or fall victim to such scams. Malaysians can also reach out to the Royal Malaysia Police (PDRM) via the CCID Infoline at 013-211 1222, or the CCID Scam Response Centre at 03-2610 1559 or 03-2610 1599. Additionally, use the
SEMAKMULE platform
 to help you check on bank account and telephone numbers that are involved with commercial crimes.

Aside from that, Shopee said that the public can also contact its departments for clarification when in doubt of an offer. For employment uncertainties, you can send an email to
[email protected]
. Meanwhile, users who are unsure about specific promotions or contests can verify with Shopee’s customer service hotline at 03-2777 9222 or via email at
[email protected]
.

Shopee further said that it will continue to work closely with relevant authorities to tackle these scams. The public can also stay up to date with other scams via
Shopee’s cybercrime awareness microsite
.

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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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    H.P

    1 year ago

Great information. I have alerted Shoppee Msia that I have received 3 WA – offered partime jobs at Shopee in less then a week in early May 2022.

Each of them revealed their nick name & from the company “Shoppee”

The questions were “Are you looking for a partime job?”

Here are the contact numbers just in case you have received the same one

(+6) 016-492 7988

(+6) 017-704 4330

(+6) 017-517 5480

Shoppe Msia, Kindly publish your alert of scam employment  msg agreesively through the social media.  Thanks

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Maybank Singapore Introduces New Service, Enables Malaysian Customers To Open SGD Savings Account

(Image: New Fortune Times)

Maybank Singapore has announced an upcoming online service that will soon enable Maybank Malaysia customers to open a Singapore dollar savings account with them, which allows for real-time cross-border fund transfers as well.

According to the head of virtual banking and payments for Maybank Singapore, Cynthia Liaw, the new service will cater to the needs of customers who plan to work in Singapore or send their children to the state republic for education.

“With Maybank RegionLink fund transfers, customers with children studying in Singapore can transfer funds instantly from Malaysia to Singapore for their living expenses. For those working in Singapore, they can also use this service to remit funds to their family and loved ones in Malaysia,” said Liaw. Briefly,
RegionLink
 is a same-day online fund transfer service provided for Maybank Singapore customers who wish to transfer money from their accounts to a Maybank Malaysia account.

It is estimated that 950,000 Malaysians or Singaporeans of partial or full Malaysian origin who are residing in Singapore will benefit from the service. Additionally, it will serve about 400,000 Malaysians who used to commute across the Johor-Singapore Causeway for work or education prior to Covid-19.

Aside from this, Maybank Singapore is also launching another two new digital banking initiatives to better assist its individual as well as small and medium-sized (SME) customers. These include a digital banking service to enable current account opening on the bank’s website, as well as a new app called Maybank2u SG (Lite).

With regard to the new online account opening service for current accounts, it is intended as a first step to help SMEs tap into financing seamlessly. It is also one of Maybank Singapore’s efforts in building a complete and robust ecosystem for these businesses, and is expected to onboard at least 1,800 new-to-bank SME customers within the first year.

Meanwhile, the Maybank2u SG (Lite) app – which has already been rolled out – is described as a lifestyle and payments app, with e-angpow gifting and other money management features. It is essentially a simpler version of Maybank Malaysia’s own
MAE by Maybanku2 app
.

(Source:
Malay Mail
)

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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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    Michael

    1 year ago

Today is 29 April 2022, Its still havent launched yet.

Its the typical talk first, launch later.

I think, its possible its going to take few years, or worst, they will forget about this.

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HR Ministry: SOCSO Received 345 Complaints Of Employers Abusing The Wage Subsidy Programme

(Image: Utusan Malaysia)

The Social Security Organisation (SOCSO) has received as many as 345 complaints against employers under the Wage Subsidy Programme (WSP) since its implementation in June, said the deputy minister of the Human Resources Ministry, Awang Hashim.

“SOCSO has received 345 cases of complaints against employers regarding payments under the WSP involving RM19,986,200. From the complaints received, 155 cases of false claims and misuse of WSP funds were identified by SOCSO,” Awang said during a parliament session.

Awang also elaborated that investigations are still ongoing for the remaining 190 cases, where employees who lodged the complaints were requested to provide more details. He said that SOCSO is working with the Human Resources Ministry and the Malaysian Anti-Corruption Commission (MACC) to
act against employers who made false claims
. “If there are cheating or making false claims, action can be taken against the employers under Section 415 and 417 of the Penal Code,” he added.

(Image: Malay Mail/Choo Choy May)

The deputy minister further explained that payments offered via the Wage Subsidy Programme will be temporarily suspended for employers who are still under investigation for false claims. Meanwhile, those who are proven to have made fraudulent claims will need to refund the money paid to them.

The
Wage Subsidy Programme
 was first revealed under the Prihatin economic stimulus package in March 2020, and was intended as a way to help companies keep their employees. Through the programme, the government will pay a monthly salary of RM600 for three months to eligible employees.

The programme was subsequently
extended in June for another three months
 via the PENJANA economic recovery plan with some enhancements and updated conditions. Following the end of this first round of extension, it was then succeeded by the
Wage Subsidy Programme 2.0
, announced under the new KITA PRIHATIN economic package in September 2020.

On top of all the above initiatives, the Wage Subsidy Programme may make yet another comeback in 2021 as Finance Minister Tengku Zafrul Abdul Aziz had proposed a fourth implementation of the programme during
the tabling of Budget 2021
. This time, however, the programme will be carried out only for targeted sectors. In particular, the programme will benefit employees earning less than RM4,000 in the tourism and retail sector, providing them with RM600 for three months.

(Source:
The Star
)

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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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EZ-Link & Touch 'n Go Collaborate To Launch Combi Card, A Cross-Border Payment Card

At today’s 9
th
 Malaysia-Singapore Leaders Retreat, EZ-Link and Touch ‘n Go announced Combi Card, a dual-currency, cross-border payment card. Touted as the first of its kind in Southeast Asia, Combi Card’s is expected to launch in Q4 this year.

Combi Card is the result of a partnership that began in 2017 between Singapore’s EZ-Link and Malaysia’s Touch ‘n Go. The idea behind Combi Card is to enable seamless cross-border use of a single payment card that shares the functionality and acceptance of an EZ-Link or Touch ‘n Go card.

“The Touch ‘n Go and EZ-Link cards have been an essential part of everyday touchpoint for both the Malaysian and Singaporean consumers across transit, mobility and retail. The partnership inked with EZ- Link is one of the many ways Touch ‘n Go Sdn. Bhd is innovating to bring the benefits of cashless payments to wider market segments,” said Syahrunizam Tan Sri Samsudin, CEO, Touch ‘n Go Sdn. Bhd.

Expected to launch in Q4 2019, Combi Card would first allow users to pay for urban mobility in both countries. Specifically, Combi Card will support electronic road pricing (ERP) in Singapore and highway tolls in Malaysia, as well as parking in specific locations in both countries. In the future, Combi Card will support payment for shopping and dining as well – just like both the EZ-Link and Touch ‘n Go cards.

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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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3 Benefits To Enjoy With Maybank 2 American Express® Gold Card

There are many reasons to apply for a credit card such as to pay for larger purchases, earn rewards, or build your credit score. With so many credit cards out there, it’s important to ensure that you choose one that lets you enjoy benefits that align with your lifestyle.

If you want to make the most out of your credit card, you may consider the Maybank 2 American Express® Gold Card. To apply, you need to have a minimum annual income of RM30,000.

Read on to find out what other benefits await.

Enjoy Up To RM50 Cashback A Month And More When You Spend

One of the reasons why people sign up for a credit card is to earn rewards points or cashback on their spendings. Using a credit card to earn rewards can be a smart financial strategy, as long as you pay off your balances in full and on time each month. If you need to make purchases anyways, why not use a credit card to gain some points or get cashback to offset your spending?

Maybank 2 American Express® Gold Cardholders will receive
5% cashback when they charge their expenses to the card on weekends,
with a cap of RM50 per month. Earn cashback at your favourite merchants, F&B outlets, retail stores, e-commerce sites, petrol stations and more as shown below.

Retail stores:

H&M,  Uniqlo, Cotton On, Zara, COS, Vans, Timberland, Marks & Spencer, Ikea, Sogo, Isetan, Parksons, Aeon, Harvey Norman, Sen Heng, and Machines.

Groceries/Pharmacies/Convenience stores
:

Ben’s Independent Grocer, Village Grocer, Jaya Grocer, Aeon, Lotuss, Cold Storage, Giant, Aeon Wellness, Carings Pharmacy, Guardian, Big Pharmacy, My News, and Family Mart.

F&B outlets
:

McDonalds, KFC, Pizza Hut, Dominos, Carl’s Jr, Texas Chicken, A&W, 4 Fingers, Starbucks, San Francisco Coffee, TGIFridays, Chilis, Madam Kwans, Baskin Robbins, Sushi Zanmai, Sushi Tei, Putien, Grand Dynasty, Hai Di Lao, KyoChon, Kayu Nasi Kandar, and Pelita Nasi Kandar.

E-Commerce sites
:

Shopee, Lazada, Zalora, Presto Mall, and Valiram 247.

Petrol
:

Shell, Petron, BHP, Petronas, and Caltex.

With the Maybank 2 American Express® Gold Card, you enjoy
5x TreatsPoints for your spending on weekdays
, exclusive to the card only. You can easily redeem the points via
mytreats.maybank.com/my
 to get gadgets, home appliances, and even air miles in return.

Lifetime Annual Fee Waiver And Online Application

If you’re a credit cardholder, you would know that there are several common fees that you might need to pay such as annual fees. Maybank 2 American Express® Gold Cardholders can rejoice knowing that they enjoy a lifetime waiver of annual fees for both principal and supplementary cards. This means you get to save even more.

Applying for the Maybank 2 American Express® Gold Card is also very straightforward. You can apply for the Maybank 2 American Express® Gold Card online and be rewarded when you spend with your newly approved cards.

All you need is a copy of your Identification Card (NRIC) or passport, latest 3 months’ salary slips, and latest 6 months’ savings account activity or current account statements.

Pay Easily With Contactless Transactions

Last but not least, you might also be glad to know that Maybank credit cards are compatible with Apple Pay. You can add your Maybank 2 American Express® Gold Card to your Apple Wallet on your Apple devices including iPhone, Apple Watch, iPad, and Mac to make contactless payments, which means no more bulky wallets and faster cashless transactions.

***

As we progress through different stages of our life, our priorities change and the benefits we seek also differ. To ensure that you’re maximising the benefits available, it’s important to select a credit card that aligns and rewards you for your lifestyle.

There are always special promotions going around for Maybank 2 American Express® Gold Cardholders. Apply online now and enjoy the
Marshall Minor III Earbuds worth RM599
 and
RM 100 cashback
. There are many more promotions which you can enjoy with
Maybank’s dining, travel, and entertainment partners
.

So, if you want to learn more,
click here
.

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    Elesh Kumar

    5 months ago

Does it have air miles?

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More Gifts Coming Your Way Including RM600 Shopee e-Voucher And Panasonic Virus-Inhibiting Air Purifier

Updated: 23 April 2022

If you’re thinking of applying for a credit card, check out the Unbox This Week campaign for exciting gifts from participating banks!

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.

For this week (18 April – 25 April), our featured bank partners are

Citibank, HSBC Bank, Standard Chartered Bank, Alliance Bank, and AmBank
. 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 – RM600 Shopee e-Voucher

The weekends are usually reserved for having a good time! Pocket a guaranteed RM600 Shopee e-Voucher when you apply for a Citibank Credit Card and get extra cash to spend on groceries and meals or shave RM600 off big-ticket items like tech gadgets and electronic appliances you’ve always wanted to check out of your cart.

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 – Xiaomi Mi Robot Vacuum-Mop 2 Lite or Panasonic Portable nanoeX Generator

Keep your indoor living space virus-free with this week’s guaranteed gifts. Take home either a Xiaomi Robot Vacuum that offers 2,200 Pa powerful suction for thorough cleaning or a Panasonic nanoeX Portable Generator that suppresses the activity of viruses and bacteria when you apply for a credit card with HSBC.

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
.

Standard Chartered Bank – PerySmith Cordless Vacuum Cleaner or Riino 3.5L Rapid Air Fryer

Standard Chartered is giving ALL approved applicants a guaranteed gift this week! Pick between a PerySmith Cordless Vacuum Cleaner that allows for easy manoeuvring around the home as you clean and a Riino Air Fryer that quickly whips up delectable snacks for your movie nights.

Everyone’s a winner when you apply for selected Standard Chartered credit cards. 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 – RM200 Shopee e-Voucher or Xiaomi Redmi TV Soundbar

Here we have another guaranteed gift option for you so you can pick something to your liking! Opt for either an RM200 Shopee e-Voucher to shop or dine with or a Xiaomi Redmi TV Soundbar to enhance your viewing experience at home when you apply for a new Alliance Bank Credit Card.

Upon approval, you just have to activate to meet the requirements of the campaign and be eligible to get the prize. 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
.

AmBank – Morgan Air Fryer

A guaranteed Morgan Air Fryer could be yours when you apply for an AmBank Credit Card this week! This aesthetically-pleasing air fryer will make for a great addition to your kitchen area, assisting you in preparing tasty dishes in just a few clicks.

Apply, get approved and activate your Ambank credit card within 30 days upon approval to be eligible for this prize. Existing cardholders and individuals who have held or cancelled an Ambank credit card in the past year are not eligible for this campaign.
Apply for an Ambank 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 25 April (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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RHB credit cards and debit cards add some festive cheer

If you’re not in the holiday mood yet, RHB will get you there thanks to its latest credit card and debit card
mail order & redemption catalogue
!

With a wide range of redeemable goodies, you’ll find everything you need for sprucing your home up, getting a great gift for your loved ones, or even going on a quick festive getaway.

Offers valid till 31 March.

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Budget 2019: Unlimited Public Transportation Pass Will Be Introduced in 2019

In a bid to encourage public transport adoption, the government will introduce new passes for unlimited rides on the RapidKL raid and bus network. It will be offered in two denominations: RM100 for both rail and bus, and a RM50 pass for bus only.

The government estimates that a Malaysian who owns a Perodua Myvi would spend around RM900 every month. Therefore, it believes that a migration from private car ownership to the adoption of public transport is a key solution to increasing the disposable income of Malaysian households.

Starting 1 January 2019, anyone can purchase a RM100 or RM50 unlimited public transport pass that will be initially valid on the RapidKL rail and bus network. This will be expanded to other bus companies at a subsequent stage.

The government believes that this scheme, where it will allocate RM240 million, would “immediately” increase the disposable income of households by hundreds of Ringgit a month.

On a separate note, the Kuala Lumpur City Council will expand the free GoKL bus service from the existing four routes next year, at an allocated cost of RM20 million.

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UBS To Acquire Troubled Rival, Credit Suisse For 3 Billion Swiss Francs In Emergency Rescue

(Image: AFP)

Switzerland’s largest bank, the Union Bank of Switzerland (UBS) has agreed to take over Credit Suisse, its troubled rival bank, for 3 billion Swiss francs (US$3.25 billion, equivalent to approximately RM14.6 billion). This came following a turbulent weekend of discussions, with hopes that the deal will help to avoid the onset of a wider international banking crisis.

This takeover was necessary to prevent Credit Suisse’s bankruptcy, which – as the second largest bank in Switzerland – could cause “irreparable economic turmoil” and “huge collateral damage” for the Swiss financial market and send ripples into the global financial market.

Its downfall could massively add to the ongoing turmoil of the international banking industry, which is still reeling from the
collapse of US regional banks, Silicon Valley Bank (SVB) and Signature Bank, just two weeks ago
. This is especially given Credit Suisse’s status as one of the Globally Systematically Important Banks (GSIB), being highly globally interconnected with multiple international subsidiaries and significant trading desks around the world.

Credit Suisse’s descent into its current predicament was a relatively swift affair. Already plagued by numerous scandals from previous years due to
risk mismanagement
, Credit Suisse was further impacted by investors’ apprehension of banking stocks in general following the collapse of the two major US banks. Notably, the stocks of financial institutions in Europe
fell by 11%
, overall.

(Image: Reuters/Arnd Wiegmann)

The bank’s situation then worsened when it revealed that US regulators – specifically the US Securities and Exchange Commission (SEC) – had
found “material weaknesses” in its financial reporting processes and control procedures
 for 2022 and 2021. Among other things, it included the “failure to design and maintain an effective risk assessment process to identify and analyse the risk of material misstatements”.

The last straw came, however, when Credit Suisse’s biggest shareholder, Saudi National Bank – which has a 9.9% stake in the bank – said that it
will not be able to provide Credit Suisse with any further financial assistance
. “We cannot because we would go above 10%. It’s a regulatory issue,” the chairman of Saudi National Bank, Ammar Al Khudairy had went on to explain.

This situation ultimately caused Credit Suisse’s stocks to crash on 15 March, falling below 2 Swiss francs for the first time, with trading forced to be halted several times throughout the morning. It even dropped by more than 30% at one point This is a far cry from its previous performances; even during the financial crisis of 2007-08, Credit Suisse’s shares traded at more than 80 francs.

Following that, Swiss regulators were forced to step in to try and inject calm, stating that the Swiss National Bank will provide additional liquidity if necessary. However, this did little to help.

The situation eventually led to rival bank UBS stepping in on Sunday, with the intention to acquire Credit Suisse for approximately 1 billion Swiss francs. Negotiations then commenced, and the amount was subsequently settled at 3 billion Swiss francs. Credit Suisse shareholders, on the other hand, will receive one UBS share for 22.48 Credit Suisse shares.

Credit Suisse – which once contributed to the stellar reputation of Switzerland’s banking industry – had a
balance sheet of approximately 530 billion Swiss francs at the end of 2022
. It lost about 38% of its deposits in the fourth quarter of 2022, and reported a full-year net loss of 7.3 billion Swiss francs for 2022. It also expected further losses in 2023. Bloomberg also noted that UBS is now more than eight times larger than Credit Suisse.

(Image: Bloomberg)

At the heels of this news,
most global markets have mostly seen a decline
 on Monday; Hong Kong’s Hang Seng index, for instance, fell by more than 2.5%, where as Australia’s S&P/ASX 200 fell by 1.16%. Japan’s Nikkei 225 is also down 1.02%, and the TOPIX (Tokyo Price Index) was 1.17% lower. However, financial authorities are of the view that Credit Suisse’s takeover
will likely not affect the stability of their local banks
.

(Sources:
Malay Mail
)

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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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Maybank To Host Virtual Treats Fair From 23 To 25 April

Maybank will once again be holding its Treats Fair virtually this year, starting from 23 to 25 April 2021. This is in line with the bank’s aim in prioritising social distancing and other safety measures to curb the spread of the Covid-19 pandemic.

Maybank’s popular Treats Fair is an annual event that allows the bank’s cardholders to exchange their Treats Points or Membership Rewards points in return for prizes or items – often at a discounted redemption rate. For instance, cardholders will be treated to a special conversion rate of 400 Points to RM1 in a one-day special event, in comparison to the usual rate of 500 Points to RM1.

Additionally, you will also be entitled to 5x Points when you opt to pay for your purchases at the fair via Maybank’s 0% EzyPay facility. Ordinarily, you will only get 1x Points for tapping into the facility, so this is definitely an opportunity not to be missed if you are already aiming to purchase a big-ticket item anyway!

Other exciting deals that you won’t want to miss out on include exclusive Manchester United merchandise as well as discounts on fashion and luxury brands. There are also multiple flash sales with up to 70% rebates, e-Bazaar and Raya deals, and discounts for groceries, home appliances, and cleaning tools.

On top of those, there are also other interesting activities such as the Treats Bidder – where you get to bid for items with your Treats Points or Membership Rewards Points – and the Wheel of Treats, which gives you the chance to spin the wheel when you spend RM200. Additionally, you can get up to RM50 myTREATS e-vouchers when you meet a set minimum spend requirement.

Here’s the schedule of the activities and events that will be carried out during Maybank’s virtual Treats Fair this year:

Activities

Date

23 April 2021

24 April 2021

25 April 2021

400 Treats Points = RM1

x

5x Treats Points for 0% EzyPay

x

Flash sale up to 70%

x

x

x

Treats Bidder

x

e-Bazaar

x

x

x

Wheel of Treats

x

x

x

MaybankHeart Charity

x

x

x

If you’re interested in checking out
Maybank’s upcoming virtual Treats Fair
, be sure to mark down these dates in your calendar! You can also find out more about the fair on the bank’s
myTREATS website
, where the fair will be hosted on.

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Maybank Treats Fair

Maybank TreatsFair

Treats Points

TreatsPoints

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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