OCBC Updates List Of Excluded Transactions For Credit Card Rewards & Benefits

OCBC Bank said that it has updated its list of transactions that are not eligible to enjoy its credit card benefits, such as earning cashback and rewards points, as well as conversion to 0% interest auto instalment payment plans (auto-IPP). Cardholders will see the addition of several new exclusions, including FPX and DuitNow QR transactions.

Set to take effect from 20 July 2023, the following transactions will soon be excluded for rewards calculation and auto-IPP under OCBC’s credit cards:

JomPAY transactions

FPX transactions

DuitNow QR transactions

Any transactions made in the United Kingdom, or in a country that is a member of the European Economic Community (EEC) or European Union (EU). These include Austria, Belgium, France, Germany, and Italy – among others. You can find the
full list here
.

These aforementioned transactions will be added to the existing list of exclusions, which includes balance transfer, donations to charities, and government-related payments – all of which also do not qualify for your credit cards’ rewards calculations and benefits. To note, transactions like balance transfers, charity donations, and government-related payments are standard exclusions for most credit card benefits, implemented by banks in general.

For additional clarity, the updated list of exclusions will apply to all of OCBC’s credit cards, including its cashback cards, rewards points cards (which earn points in the form of Travel$ and Voyage Miles, depending on the card), as well as auto-IPP credit card. Here are all the available cards under OCBC’s current credit card portfolio:

Cashback credit cards
Rewards points credit card
Auto-IPP credit card (0% interest)
– OCBC 365 Mastercard
– OCBC Great Eastern Platinum Mastercard
– OCBC World Mastercard
– OCBC Titanium Mastercard
– OCBC Premier Voyage (earning Voyage Miles)
– OCBC 90°N Visa (earning Travel$)
OCBC Cashflo Mastercard

If you have any enquiries regarding this latest update, you can reach out to OCBC’s contact centre at 03-8317 5000. Alternatively, you can contact them via their official
Facebook page
.

(Source:
OCBC
)

5

1

vote

Article Rating

SHARE

TAGS:

DuitNow QR

European Economic Community (EEC)

European Union (EU)

FPX

JomPAY

OCBC

OCBC Bank

Overseas Transactions

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.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Celebrate This Chinese New Year With Shopee Kongsi Fa Cai

To celebrate this Chinese New Year, Shopee will be rewarding its customers with more discounts and cashback for shoppers to enjoy shopping before the festive season arrives. Shopee’s Kongsi Fa Cai campaign will be running from 3 January till 6 February for customers to fully indulge in all the amazing rewards.

Shoppers can look forward to giveaways, contests, mystery boxes, deals, discounts, and Shopee’s most popular Shopee Shake game. Users can expect to win prizes, coins, and vouchers worth up to RM888,888 when they play Shopee Shake as well as other games that will appear periodically over the campaign. Shopee will be offering 88,888 mystery boxes with free shipping, 88% cashback vouchers daily, and more vouchers that can be claimed over the campaign period.

From 14 to 16 January and 22 to 24 January, get ready for better sales and deals with festival-themed shopping days like CNY Essential Festival, Shopee Mall Festival, Cashback Festival, CNY Mega Sale, and Shocking Sale Festival. The Shocking Sale Festival will be offering products sold as low as RM0.80 and discounts up to 88%.

Not only that, other festival-themed games like Shopee CNY Live Quiz will allow users to play a quiz game to win from a pool of 888,888 Shopee coins and RM1,000 weekly cash prizes. The quizzes will be running on weekdays from 12pm on 14 to 31 January and two games at 12pm and 8pm for 22 to 24 January.

Apart from that, seven more official brand stores have been added to Shopee including MSI, Logitech, Etude House, and ELLE. These official stores offer a wide range of products in its catalogue, and are sold directly to customers so there are no issues on product authenticity.

Don’t forget to update or download the Shopee app on your smartphone through
Apple App Store
 or
Google Play
 to enjoy all these deals and cashback this Chinese New Year.

(Sources:
Pokde.net
,
KL Gadget Guy
,
Malaysia Freebies
)

0

0

votes

Article Rating

SHARE

TAGS:

Cashback

Cashback Festival

Chinese New Year

CNY Essential Festival

CNY Mega Sale

Discounts

Kongsi Fa Cai Campaign

Promotional Campaigns

Shocking Sale Festival

Shopee

Shopee CNY Live Quiz

Shopee Mall Festival

About THE AUTHOR

Olivia Song

Olivia Song

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Pay Per Entry Gyms You Should Go In 2019

Christmas and New Year’s Day have passed, and now Chinese New Year is just around the corner. How are we ever going to follow through on our “get fit” new year’s resolutions when all we’re doing is enjoying the best of Malaysian food instead of getting into shape? If a subscription-based gym sounds like too much of a commitment, maybe a different type of gym could kickstart your fitness goals. The gyms below all charge on a per entry basis and are located within the Greater Kuala Lumpur area, allowing gym-goers the flexibility of going to the gym whenever you can without paying the high monthly gym subscriptions when all you really want is to go to the gym once a week.

Blitz Gym

Blitz is very popular among the students staying in and around Subang Jaya, and it is actually the first pay-per-entry gym across the Subang Jaya area. Besides paying per entry, Blitz also offers multiple passes depending on your needs, including the 10 prepaid passes or the multi-day pass that can go up to 360 days. You’ll also be able to work out with a personal trainer as well but at an extra cos – Blitz provides certified gym trainers to guide you.

Entrance Fee: RM9 per entry/ RM12 during peak hours

Opening Hours: Monday – Saturday 8.30 am – 11.30 pm / Sunday 9.30 am – 9.30 pm

Address: 1, Jalan SS15/8a, SS15, 47500 Subang Jaya, Selangor

The Outlaw

The Outlaw is a warehouse renovated into a gym space filled with cardio equipment, free weights, bumper plates, and many other equipment and machines. It is very popular among the CrossFit and power lifting crowds because of the large space and more than adequate equipment for strength training and bulking. There are even weekend classes for those interested in weightlifting and power lifting.

Entrance Fee: RM11 per entry/ RM80 for 10 days pass

Opening Hours: Monday – Friday 10 am – 12 am/ Saturday & Sunday 10 am – 10 pm

Address: No.5, Jalan TS 6/10, Taman Subang Permai, 47500 Subang Jaya, Selangor

Red Line Gym

Red Line Gym is the most accessible for students from Taylor’s Subang and INTI International Subang as it is within walking distance from the two universities. The gym is equipped with basic equipment and also weights for more power workouts, good enough for both beginners and workout junkies to swing by for a workout session. It is well suited for students as it is open late into the night and at just RM7 per entry, it’s definitely affordable enough for students who want to work out without spending a bomb.

Entrance Fee: RM7 per entry

Opening Hours: Monday – Friday 10 am – 3 am/ Saturday & Sunday 10 am – 1 am

Address: Persiaran Kewajipan, SS15, 47500 Subang Jaya, Selangor

Xtreme Hardcore

Despite its name, Xtreme Hardcore is the gym for everybody – it welcomes those the old, the young, the beginner, the gym junkie, there is sufficient equipment and workout space for all. And, at the lowest walk-in fee out of the list, this is a gym worth giving a shot if you want to burn off those CNY holiday weight!

Entrance Fee: RM5 per entry

Opening Hours: Daily 8 am – 1 am

Address:
Dataran, 8-2, Lor Dataran Wangsa, Wangsa Melawati, 53300 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur

Hale Athletics

Hale Athletics, previously known as QLS Fitness, is the home of the Malaysia Powerlifting Alliance that trains world class athletes and coaches. The gym is extremely professional and well equipped; a good recommendation for those looking to seriously take on power lifting, conditioning, and strength training.

Entrance Fee: RM15 per entry

Opening Hours: Monday – Friday 1 pm – 10 pm/ Saturday 10.30 am – 5 pm (Closed on Sundays)

Address: Plaza Kelana Jaya, Block F-08-01, Jalan SS 7/13a, SS 7, 47301, Petaling Jaya, Selangor, 47301 Petaling Jaya

Muscle Max Gym

Muscle Max has fully equipped equipment including cardio machines, free weights, and heavy lifting machines. It’s located near the housing areas in Ara Damansara, to cater to neighborhood workout enthusiasts who are not willing to drive out and face the traffic.

Entrance Fee: RM8 per entry

Opening Hours: Monday – Friday 10 am – 12 am/ Saturday & Sunday 8 am – 10 pm

Address: C-1-21 Block C, Jalan PJU 1a/20b, Dataran Ara Damansara, Ara Damansara, 47301 Petaling Jaya, Selangor

No More Excuses!

Most of the time, our “lose weight” new year’s resolutions fall by the wayside simply because of gyms that are either too far or too expensive. If all you want is a gym with the basic necessities that doesn’t impose a fixed monthly fee to use, now you know there are a large variety of options out there.

4

1

vote

Article Rating

SHARE

TAGS:

Blitz Gym

Gym Life

Hale Athletics

Muscle Max Gym

Personal Fitness

Red Line Gym

The Outlaw

Xtreme Hardcore

About THE AUTHOR

Olivia Song

Olivia Song

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Should Companies Adopt the Work From Home Policy?

Working from home is a new direction that some companies have been starting to adopt. In most cases, it’s a clash of opinion between employer and employee when it comes to working from home versus being physically present at the office.

According to an article on
TheStreet
, 68% of college graduates find the idea of being able to work from outside the office having the highest impact when it comes to picking out an employer.

Flexjobs
 claim that employees want the flexibility to work from home as it would allow them to avoid office stress which would in turn, help them be more healthy.

Interestingly enough, the other reason people think it would help to work from home is to avoid office politics. Working alone helps them reduce stress and experience fewer interruptions, allowing them to concentrate on the task at hand.

Should employers start getting comfortable with the idea or is it simply up to the employee to pick a job to suit the discussed working environment? We put our nose to the grindstone to find out!

The Upside

Cost Saving

Think about the office space a company would save if most of its staff worked remotely. The company could rent or buy a much smaller space compared to having space available for say, 200 staff. Some companies make it tough for employees by squeezing 200 staff members into a space that comfortably accommodates only 100-150 people.

According to
Flexjobs
, a survey showed that some people are willing to take a small pay cut if they could avoid situations like the above and have working-from-home convenience. This not only could save the company money, it also helps an individual save in terms of work commuting costs.

Corporate Social Responsibility (CSR)

Aside from the previously mentioned cost benefits, companies would also get to go ‘green’ by using less office utilities (eg: paper) on a daily basis with the reduced number of staff as most communication could be performed over an online network.

Some of the money saved from rent, office equipment or maintenance could be channeled towards, hiring more staff, upgrading internal connectivity or increasing staff benefits, all of which could have significant contribution to both employee satisfaction and company revenue.

Staff Benefits

For an employee, there are many benefits to be able to work from home. The savings that one could leverage on in terms of cost and energy would pay off greatly. Time and energy saved in such situations could also lead to a higher level of productivity through job satisfaction.

Forbes
 found that employees who work from home are more productive. The article also mentions not only did the employees who worked from home out perform the office goers, they also possessed a higher level of job satisfaction.

A personal acquaintance of this writer happens to work in a large tech company based in Cyberjaya who is firm believer of the above moot. She constantly talks about how she only steps into the office twice a week, anything more than that are to attend meetings. She genuinely claims having fostered better relationship with her two children, as she now has more energy and time to be a play the dual roles of a working mother.

The Downside

Isolation

Handling tasks independently at home could potentially become monotonous and lonely. Without the added interaction you receive from colleagues, the quality of output could deteriorate. Consider how brainstorming together with colleagues boosts creativity and enhances the quality of the job that you undertake.

In an article by
Forbes
 CEO of Yahoo, Marissa Mayer stopped permitting employees to work from home. The decision behind the change of stance was to encourage collaboration and communication. She felt that sometimes the best ideas and decisions come from cafeteria discussions or meeting new people from different departments.

Progress & Training

Working from home could also hinder the progress of an individual. Working in a team allows people to learn from each other, expand, share lessons and skills. Learning and being trained over a Skype call may not have the full impact a face-to-face session could yield.

Having healthy competition among colleagues to out-perform one another could also produce higher measure of output. It helps individuals progress and gives managers a better understanding of their employees. As superiors, being able to experience employees’ potential first-hand makes the task of awarding promotions, bonuses, raises and bigger project appointments that much easier.

Job Bias

While there are a selected number of jobs that can be done remotely, a vast majority still require individuals to be present in the office. If only a select few were allowed to work from home while others worked in the office, it would certainly be difficult for employers to justify the imbalance. This could create a lot of disgruntled employees and severely affect ergonomics.

To Each His Own!

Living in a world that hinges on the crossroads of technological advancement and ways of the orthodox, we find mixed responses in global industries. Virgin Group CEO, Sir Richard Branson agrees working from home is the way to go. He strongly disagreed with Yahoo CEO Marissa Mayer (referenced up top) for pulling the plug on the working from home program according to
BBC
.

Despite being on both ends of the spectrum, Virgin Group and Yahoo continue to be very successful in their own right. Working remotely is definitely a great privilege and many yearn for such an opportunity, but industries that are manual labour based still depend on physical presence. Perhaps if you hold a managerial position, the above may serve as food for thought if your industry permits.

Conversely, the onus may sit on us, employees, to cherry-pick jobs (albeit very limited working from home options) to serve our interpretation of job satisfaction instead of imposing a statutory disposition on companies. We’ve weighed out the pros and cons, all that’s left to do is to assess your adaptability to our two options.

Chances are, you may fall behind working remotely, or flourish from working in the comfort of your own home. Whatever your choice, make sure your decision stands an informed one.

Have you ever worked in an environment away from the office or considered allowing your employees to work remotely? Share with us your experience in the comments section below – we’d love to hear from you!

Image Sources: Image 1 from
Bloomberg
; Image 2 from
Office Blinds & Glazing
; Image 4 from
My Time Management

0

0

votes

Article Rating

SHARE

TAGS:

Employment

Work From Home

About THE AUTHOR

Gavin Pereira

Gavin Pereira

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


How to Tell Good Warranties From Bad Warranties

If you’re keen on getting more for your money, you won’t drop a bunch of cash for a product without knowing everything about it and making sure it’s really worth buying. Sellers know this too, of course. Which is why for many major purchases, merchants will provide warranties.

A warranty is a promise that the seller will repair, maintain, replace, or otherwise compensate the customer if they’re unsatisfied with the product somehow. Warranties can vary from one another and different warranties can exist for the same type of product. Which means it’s an attribute of a product you can compare just like price, brand, or style.

It’s therefore super important to know the difference between warranties that protect you, and warranties that don’t.

What to Look at When Looking at Warranties

Most major purchases come with written warranties which you should always ask to read and go through before agreeing to a purchase. To determine whether or not the warranty is good enough for you, here are some questions to ask:

1. What Do You Get If The Product Fails?

Find out if the company will repair the item, replace it, or refund your money. Also figure out if there are parts of the product or repair types that are excluded from coverage. Some warranties may need you to pay for labour charges.

Pay attention to what you have to do to get your compensation. It might include details that are too inconvenient like pricey shipping fees or returning it in its original packaging.

2. How Long Does the Warranty Last?

See when the warranty begins and when it expires, as well as any situations or conditions that may void coverage. Think about how you plan to use the product and consider whether or not you can still do so and stay covered under the warranty.

3. Who Do You Contact?

Is it the seller, or manufacturer? How do you contact them and what form of proof of purchase do you need to provide? Be sure that they have a real address, phone number and website. All of which you can check through your phone.

An active social media presence is the best since your interaction with them will be public. This transparency means the company is more incentivised to help resolve any disputes you might have.

4. Does It Cover “Consequential Damages”?

Many warranties don’t cover damages caused
by
 the product, or your time and expense getting that damage fixed. For example, if your freezer stops working and the food spoils, many manufacturers won’t pay for the lost food. But it’s worth checking if they do.

5. Are Special Conditions Attached?

Some warranties only provide coverage if you use the product as they intended. As in, a warranty may cover the product only if it’s used for business, and not for personal uses. Be sure that the warranty meets your needs.

As long as you remember to ask the important questions above and make sure that everything is in order, you can be certain that your purchase will be worthwhile. It does take some effort to sift through the pages, but a good warranty can definitely save you plenty of headache in the long run.

Speaking of getting covered, why not get yourself covered with the
best insurance offered in Malaysia
? Have anything else to add to this article? Do share your thoughts with us in the comments section down below!

0

0

votes

Article Rating

SHARE

TAGS:

Warranties

About THE AUTHOR

Ahmad Mudhakkir

Ahmad Mudhakkir

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


14 Sweetest Under RM20 Valentine's Day Gifts For Her You Can Buy Online

Valentine’s Day is less than a week away, your finances are a little tight from all the
things you’ve had to renew and pay for since the New Year
, and you’re thinking of ways to find the perfect gift for your special lady without going into debt.

There’s no need to panic, some of the sweetest and best gifts don’t cost a tonne of money at all, and are just a matter of knowing how to say ‘I love you’. Get inspired with these 14 perfectly budget-friendly, thoughtful, and romantic gift ideas for your Valentine – all available at just a click of a button.

A Cute Dress

Choose the perfect dress for your lover and get it to be delivered right to her doorsteps on Valentine’s Day. Want to heighten the romance on this special day? Leave her a note with instructions to wear the new dress, a time and place to meet, and surprise her with a candlelight (but
economical
) dinner.

Where:
iShoppeMall

Price: RM19.90

Mini Album Kit

What better way to commemorate your most precious memories together than a cute assemble-yourself mini album?

Where:
Typo

Price: RM20

Chic Diary

Is she the creative type who loves to express herself with the power of words? Show her how thoughtful you are by gifting her a diary.

Where:
Typo

Price: Starts from RM3

Cool Pen

Every girl loves cute stationeries, and Typo doesn’t disappoint in that department. From a cat to a pretzel shaped pen, Typo has a range of cool and interesting designs to suit your lady’s personality.

Where:
Typo

Price: Starts from RM2

Cute Coin Purse

Appeal to her cutesy side with a trendy and practical coin purse. Choose from a range of unicorn motif to glitter coin purses and watch her go, ‘Awwwww’.

Where:
Cotton On

Price: Starts from RM10

Trendy Shawl

Much like dresses, ladies can never have enough shawls. Besides, it’s a thoughtful gift, and they’ll never guess its price tag.

Where:
Zalora

Price: RM19.90

Handmade Jewelry

Sure, you didn’t exactly make the jewelry yourself, but it’s the thought that counts right?

Where:
Etsy

Price: Starts from RM6.20

Minimalist Handmade Jewelry Dish

It’s cute, it’s super practical, and it helps her organize her many pieces of jewelry. It also adds a touch of charm to her bedroom with itás simple and minimalistic design, what’s not to love?

Where:
Etsy

Price: RM10.03

Sleek Graphic Watch

Is she always late to your dates? Present her with this sleek fashionable graphic watch that will go with any outfit as a (not so) subtle message. Whether she gets the message or not, she’ll still appreciate this charming gift.

Where:
Zalora

Price: RM19

Fashionable Handbag

Ladies and handbag are inseparable. Choose the style that best suits your lady and surprise her with a would-be new favourite handbag!

Where:
Lazada

Price: Starts from RM13.60

Seductive Body Mist

Invoke the playfulness in her with the sweet and seductive notes that will soon be your favourite scent in the world. As Coco Chanel had once said,’ No elegance is possible without perfume. It is the unseen, unforgettable, ultimate accessory’.

Where:
Elianto

Price: RM10

Coconut Creamy Body Wash

Help her relax after a long day at work with the calming scent of coconut each time she steps into the bathroom. Nothing spells intimate (but economical) gift like a great smelling body wash.

Where:
Sephora

Price: RM20

Pampering Bath Bomb

Surprise her with a pampering and relaxing bubble bath right at home. Dim the lights and have some scented candles ready to set the romantic mood. Show her how caring you can be by having a few of her favourite books and tea ready right next to the bath and let her sink into bliss.

Where:
Sephora

Price: RM12

Easy-To-Care-For Air Plant

Skip the roses, send her an air plant that lasts long after the Valentine’s Day has gone to symbolize how your love is for her: Timeless.

Where:
Mudah.my

Price: Starts from RM20

Choosing the right gift for your special lady is all good and well, but remember to let her know – in words – how precious she is to you and her love for you will grow no matter what gift you buy her.

Spending smart doesn’t have to be restricted to Valentine’s Day gift shopping, shop smart with
credit cards that give you cashback, reward points, and discounts
 with each online purchase. Have a look at our
comparisons page
 for the perfect credit card to suit your spending habit.

0

0

votes

Article Rating

SHARE

TAGS:

Gift Ideas

Gifts

Valentine's Day

About THE AUTHOR

Syaza Abd Jani

Syaza Abd Jani

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Do You Think It’s a Good Idea to Go Completely Bankless?

Having the
second-highest level of bank account ownership
 in ASEAN, we can safely say that many Malaysians are not opposed to basic bank services, but there are still those who do not currently believe in its necessity or even have an account. That is to say, we Malaysians use bank services a lot. But not all of us enjoy the idea of banks completely.

Imagine a world where people just keep their own cash at home. No borrowing or lending from an institution, no credit cards, no loans, and no savings accounts, because there are no more banks. Does this world sound attractive to you?

Why Some People Might Want to Go Bankless

Often times the perception of high fees or the assumed difficulty associated with opening a bank account can lead some to consider forgoing a bank account altogether. Furthermore, some people may carry the idea that banks are inherently bad agents that only seek to gouge the public with extortionate interest rates and enticing people to get into debt. These strong feelings of distrust and frustration may lead them to not use banks at all.

But is it really a better choice to simply go without what has become a commonplace modern convenience? Let’s take a look at the potential pros and cons:

Pros of Being Bankless

A major plus point for these folks that stay bank-free is that they
will not incur any account maintenance fees or ATM
 charges when withdrawing money. Those tiny percentages do add up.

Secondly, some complain about
the potentially low interest earnings on savings
 when compared to returns received from investing in stocks or other instruments.

Another advantage is that it’s
much easier to avoid lifestyle creep or lifestyle inflation
. Banks often offer to increase your credit limit or credit card with extra perks when your income is found to have increased. This is great incentive for you to keep spending with the bank, even though you don’t actually need to.

Cons of Going Bankless

Let’s see what costs may be incurred as well as the conveniences forgone by not having a bank account:

For one,
making bill payments will be troublesome
 and likely to eat up more time and perhaps even money, if we factor in transport costs.

Next, the notion of keeping your savings under the mattress at home instead of in a bank is rather risky; *
you can lose all your money *
in a fire or burglary. Also keep in mind that hard cash is made of materials that can deteriorate over time. Whereas digital bookkeeping in banks means your funds are always accounted for.

Big ticket items like houses and cars require large amounts of cash on hand if you want to pay for it in full. Not having a bank means
buying expensive items take a lot longer
 and is more dangerous, too.

Besides housing loans and car loans, banks also provide personal loans, student loans, and business loans. With
no more loans
, many people’s education, lives, and businesses will never make it to fruition.

One more disadvantage is that
you have to carry cash on you at all times. Which is not a safe thing to do
. With a bank account you can safely carry a bank card that won’t weigh your pockets down and has fraud protection too (depending on the card of course) in case your card goes missing.

How to Make the Most Out Of Your Bank Accounts

Despite our frustrations with banks sometimes when things don’t quite go our way, it’s hard to argue against the prevailing necessity of a bank account to live and work in the modern world. For those new to using banks, we suggest you try these to make the most of your bank accounts:

Sign up for online banking
 and take advantage of convenient services on offer such a complimentary bill payment services, easy access to your statements and online shopping.

Get a debit card
 and carry less cash; you’ll find that it is not only safer (as we’ve covered) but rather convenient too.

Keep the minimum amount in the bank
 and you might not have to pay for admin fees, you can simply cover it with interest or dividend earnings.

If you are still without a bank account, you might want to consider opening a basic savings account that only requires a low minimum deposit. Check out our
comparison page
 to see a list of the best basic accounts in Malaysia.

1

1

vote

Article Rating

SHARE

TAGS:

Bankless Lifestyle

Personal Finance

About THE AUTHOR

Desiree Nair

Desiree Nair

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


What to Do When Debt Collectors Come For You

Reports in
2012
 and
2014
 highlighted the escalating trend in debt collectors that harass, threaten, and intimidate debtors. Some have even gone so far as to threaten the guarantors as well. Expectedly, defaulting borrowers are anxious about having to deal with debt collectors; unsure of their rights and worrying for their safety.

What Is a Debt Collector?

When banks and other agencies find that they are no longer able to follow up for payment with people who owe them money, they may turn to a private debt collection agency.

Some agencies are tactful in their dealings with debtors, peaceably using tele-collection methods where officers will call, remind, and prompt debtors for payment. They may also send debt statements, repayment notices, demand letters and the like.

Some agents may even be deployed to meet the debtors in person to negotiate repayment – only with their permission of course – and this should be the extent of their duties.

However, not all agencies operate with the same level of diplomacy. Since the field is only loosely regulated, the actions of some debt collectors can at times border on harassment, some even escalating to intimidating threats.

What Debt Collectors Are Not Allowed To Do

Those who are tasked with ‘chasing’ loans and credit card payments are not allowed to “exert undue pressure or influence, harassment, or coercion as provided in the circular on Fair Debt Collection Practices. These guidelines were set forth by
Bank Negara Malaysia
 to control how banks and financial institutions manage debt collection activities.

It includes a wide array of actions, but what’s most important is that debt collectors should not resort to intimidation or violence. Here’s a list of actions that debt collectors are
not allowed
 to engage in when dealing with borrowers:

Call debtors more than three times per week.

Block access to their residence or trespass on private property.

Intimidate, use abusive language or attempt to humiliate debtors.

Contact neighbors, coworkers, friends, or family members of debtors to demand for payment.

Provide misleading information to scare debt i.e. threaten to bankrupt them, send them to jail or file criminal action against debtors.

Misrepresenting themselves or the documents they present to debtors.

If you are approached by a debt collector, be sure to ask them to show you an
authorization card
, their identity and the name of the company they work with as well as the written notice of the debt.

What to Do If a Debt Collector Is Harassing You

Step one should be calling the police and filing a police report of the incident. Following this, you should immediately report problems with a debt collector to your bank and if you are unsatisfied with the response of the bank, you can also directly file a complaint with Bank Negara.

For debt collection complaints unrelated to banking services, you can report violations from debt collectors to your state Attorney General’s office.

It’s also possible that debt collectors have been sent to you in order to repay debt that you never owed. Maybe you were the victim of credit card fraud, or you were charged incorrectly somehow. In these cases, if the debt is in dispute, it’s important to make a police report and begin an investigation immediately. Do not start repaying the debt because the act of paying back legally means you accept the debt as yours, so be careful.

Don’t Let It Come To This

Banks and other creditors resort to debt collection agencies only when they are unable to get a hold of the debtor.

So rather than putting yourself in a position of having to deal with a debt collector, maintain communication with your bank. If you are having difficulty making repayments, you can discuss this with a bank officer to restructure your payments, negotiate interest rates, or get an extension for your payments.

If you are overwhelmed by your debt, the
Credit Counselling and Debt Management Agency
 is equipped to advise you and even help with loan restructuring. If you wish to dispute the debt and can afford to, hire a lawyer to help your case.

You don’t want your current debt troubles to ruin your future chances of getting financing to buy a house or a car. If you continue to evade your creditors, not only will you have to deal with debt collectors, you’ll also be looking at an unfavourable credit history.

If you want to learn more about debt management, do check out these
articles
 on our website.

5

1

vote

Article Rating

SHARE

TAGS:

Debt

Debt Collectors

Debt Management

About THE AUTHOR

Desiree Nair

Desiree Nair

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


SAVE 3.0 Offers Up To RM400 Rebate On Energy Efficient Appliances - Here's How To Apply

The government has once again brought back the Sustainability Achieved via Energy Efficiency (SAVE) initiative, this time dubbed SAVE 3.0. An extension of the previous SAVE 2.0, this round of the initiative has been enhanced with better benefits, with Malaysians able to enjoy up to a maximum of RM400 rebate for the purchase of energy efficient electrical appliances. The treatment of the rebate and the eligibility criteria have also been altered slightly.

Read on to find out more about the SAVE 3.0 programme, and how you can apply for it.

What is SAVE 3.0?

As we’ve mentioned earlier, SAVE 3.0 is a follow-up to the SAVE 2.0 programme, and shares a similar aim, namely to raise public awareness and to encourage more Malaysians to purchase energy efficient appliances. Launched under the Ministry of Energy and Natural Resources (KeTSA), it is implemented by the Sustainable Energy Development Authority (SEDA) with help from the Energy Commission, and is set to run the whole year long – from January to December 2022.

In terms of benefits, SAVE 3.0 will allow you to enjoy up to RM400 rebate when you purchase appliances that have a 4- or 5-star energy efficiency rating (as labelled by the Energy Commission). This is double the amount offered via SAVE 2.0, which provided a lesser rebate of RM200 for similar purchases.

What is the breakdown of the SAVE 3.0 rebate?

Unlike SAVE 2.0 – which let you apply the entire RM200 rebate on the purchases of energy-efficient air conditioners and fridges only – SAVE 3.0 distributes the offered RM400 rebate via two categories of purchases.

As you can see in the chart above, you can only tap into a rebate of RM200 under Category 1 for the purchase of an air conditioner or refrigerator (this is essentially a repeat of SAVE 2.0). Meanwhile, the remaining RM200 rebate is to be applied via a separate purchase under Category 2, when you are buying selected appliances, including televisions, washing machines, microwave ovens, and rice cookers. Each of these items will have its own cap on the rebate that can be claimed (between RM50 to RM200).

What are the eligibility requirements to tap into SAVE 3.0?

To redeem the SAVE 3.0 rebate, you must be a Malaysian citizen holding a registered account with electrical companies within the country. These include Tenaga Nasional Berhad (TNB), Sabah Electricity Berhad (SESB), Sarawak Energy Berhad (SEB), and Nur Power Sdn Bhd.

Each electricity bill account is entitled to one redemption of the RM400 rebate (RM200 under Category 1 and 2, respectively), offered on a first-come first-served basis. However, note that if you’ve already tapped into the previous SAVE 2.0 programme, you will now only be eligible to apply for the remaining rebate of up to RM200 that is provided under SAVE 3.0 (Category 2).

Here’s a table by SEDA to better summarise which users are entitled to the discounts offered under SAVE 3.0:

How to apply for SAVE 3.0?

Just like SAVE 2.0 – which allowed eligible individuals to claim the previous rebate via e-commerce platforms
Shopee
 and
Lazada
, as well as registered retailers – SAVE 3.0, too, will employ a similar process. It is also possible to get your SAVE 3.0 rebates from PGMall.

Purchasing through Shopee

If you wish to make your purchase through Shopee, head on over to its
SAVE 3.0 microsite
 and browse through the products listed there, ensuring that you are purchasing appliances that are eligible for the programme. Alternatively, you can search for products with the SAVE 3.0 tag.

Once you’ve decided on your item, message the seller of the appliance, who will then help to you to apply for the SAVE 3.0 voucher. Once approved, the voucher code will be shared with you. Make sure to key in the unique voucher code under “Shop Vouchers” during the checkout process!

Purchasing through Lazada

Lazada users will also go through a somewhat similar process; head on over to the platform’s
SAVE 3.0 microsite
 to start browsing, and then start a chat with the respective sellers to initiate the voucher application once you’ve determined on your item. Next, tap on “Send Product”, and “I Want SAVE 3.0 Voucher” – after which you’ll be prompted to provide some details. A voucher link will be shared with you once your application is approved. Click on it, and then proceed to check out the item.

Purchasing through PGMall

Browse through the products tagged in
PGMall’s SAVE 3.0 campaign page
, and then initiate chat with the approved sellers for your voucher application. You may be required to provide some documentation for verification. The application process may take more than three days, and once it’s approved, you can apply your unique code during the checkout process. Feel free to also stack it with PGMall shipping fee voucher – or any other available vouchers – for maximum discount!

Purchasing through retailers

Likewise, consumers who prefer to purchase their electrical appliances directly through registered retailers can also apply for the SAVE 3.0 rebate. When buying your appliances at the retailers, just make sure to bring along your electricity bills and NRIC to assist with the voucher application process – and they’ll take it from there.

The vendor will help to check on your eligibility, and then submit all relevant purchasing information to SEDA on your behalf. They’ll also attach any invoices or receipts as proof of your purchase, so you won’t need to worry about having to submit any supporting documents on your side.

You can find the
full list of retailers registered for SAVE 3.0 here
.

Additional RM500 Flood Relief Voucher (Bantuan Bencana Banjir)

(Image: AFP/Arif Kartono)

On top of the RM400 rebate, Malaysians affected by the recent floods across the country are also provided with an additional RM500 rebate to help replace their damaged electrical appliances. Each household is allowed one redemption of this rebate via the SAVE 3.0 initiative, and the application process is similar to the ones described above.

Do note that aside from your electricity bills and a photocopy of your IC, your application for the flood relief voucher must also be accompanied by additional supporting documents from relevant authorities to prove that you were impacted by the floods. These authorities can be the police force, the National Disaster Management Agency (NADMA), district officers, community leaders, and other government agencies involved in the flood relief effort.

***

With this latest rollout of the SAVE 3.0 programme, it is hoped that Malaysians will be more inclined to spend on energy-efficient appliances, and help the country to achieve its goals in the
National Energy Effiency Action Plan (2016-2025)
.

If you have enquiries, you can contact SEDA at 03-8870 5800, or by emailing them at
[email protected]
. More information about the
SAVE 3.0 campaign
 can also be found on the SEDA website.

5

1

vote

Article Rating

SHARE

TAGS:

Bantuan Bencana Banjir

Lazada

Longform

NUR Power

PGMall

Sabah Electricity

Sarawak Energy

SAVE 2.0

SAVE 3.0

SEB

SEDA

SESB

Shopee

Sustainable Energy Development Authority

Tenaga Nasional Berhad

TNB

TNB Bills

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.

See all articles

Comments

 (1)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

1
 Comment

 Inline Feedbacks

View all comments

    Maheswari a/p subramaniam

    1 year ago

Thank you so much is very helpful

1

Reply


Overnight Policy Rate Maintained at 1.75%

(Image: The Star)

The Monetary Policy Committee (MPC) of Bank Negara Malaysia (BNM) has decided to maintain the overnight policy rate (OPR) at 1.75%.

“For Malaysia, latest indicators point to improvements in external demand and continued consumer spending,” the central bank said in a statement today. “While the re-imposition of containment measures will affect growth in the first quarter, the impact is expected to be less severe than that experienced in the second quarter of 2020.”

Going forward, growth is projected to improve from the second quarter onwards, driven by various factors such as the recovery in global demand and higher production from manufacturing facilities. “The growth outlook, however, remains subject to downside risks, stemming mainly from ongoing uncertainties in developments related to the pandemic, and potential challenges that might affect the roll-out of vaccines both globally and domestically,” BNM said.

(Image: New Straits Times)

As for headline inflation in 2021, it is projected to average higher – primarily due to higher global oil prices. Underlying inflation is expected to remain subdued amid continued spare capacity in the economy.

Earlier in 2020, the OPR was slashed a total of four times – by 25 basis points in
January
 and
March
 respectively, and by a bigger 50 basis point slash in
May
. The OPR was then reduced to its record-setting low of 1.75% in
July
 2020. Since then, the MPC has decided to maintain this rate through its
September
 and
November
 meetings as well as into the
new year
.

(Source:
BNM
)

0

0

votes

Article Rating

SHARE

TAGS:

Bank Negara Malaysia

Banking

BNM

OPR

Overnight Policy Rate

About THE AUTHOR

Jacie Tan

Jacie Tan

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Malaysian Telcos Offer Free Calls For 12 Hours In Celebration Of Hari Raya

Local telcos will be offering free calls for a period of 12 hours for Hari Raya, the Malaysian Communications and Multimedia Commission (MCMC) announced today. The free calls will be offered starting from 10pm today until 10am tomorrow.

All customers of the following telco providers will be able to enjoy this Hari Raya benefit:

Digi

Celcom

Maxis

REDtone

TM Unifi

TIME dotcom

Tune Talk

U Mobile

Yoodo

YTL

Minister Saifuddin Abdullah expressed his hope that the free service would allow those who were away from their families due to reinstated movement control order (MCO 3.0) to foster family and friendship ties this Hari Raya. The special offer is set to benefit prepaid the most, as the majority of postpaid packages already offer free calls as part of their monthly packages.

(Source:
Free Malaysia Today
)

0

0

votes

Article Rating

SHARE

TAGS:

Hari Raya

Hari Raya Aidilfitri

Malaysian Communication and Multimedia Commission

MCMC

MCO 3.0

Movement Control Order

About THE AUTHOR

Jacie Tan

Jacie Tan

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


2018 Fibre Broadband Price Comparison: Before And After MSAP

It’s taken them a while after the original deadline, but Malaysians can now enjoy better, faster internet at affordable prices. TM, Maxis, TIME, and even Celcom have all introduced revamped fibre broadband plans that comply with the government’s Mandatory Standard on Access Pricing (MSAP) policy, which effectively kept the new government’s promise of “double the speed, half the price” for internet access.

But which of these new broadband packages are the best in terms of value for money? We’ve compiled the new fibre broadband plans from all four internet service providers (ISP), as well as the price reductions for easy reference.

Broadband package

Speed

Includes

Price

Price Reduction

TM unifi Basic plan

Download
: 30Mbps

Upload
: 10Mbps

60 GB quota,

calls 20sen/min, unifi playTV

RM79
(from RM139)

RM60
 (43%)

MaxisONE Home 30

Download
: 30Mbps

Upload
: 30Mbps

Unlimited quota,

add RM10/month for unlimited calls

RM89
(from RM139)

RM50
(36%)

Celcom Home Fibre Gold

Download
: 40Mbps

Upload
: 40Mbps

Unlimited quota,

calls 10 sen/min

RM80
(from RM180)

RM100
(56%)

TIME – 100Mbps

Download
: 100Mbps

Upload
: 100Mbps

Unlimited quota,

calls 10 sen/min

RM99
(from RM149)

RM50
 (34%)

Celcom Fibre Gold Supreme

Download
: 100Mbps

Upload
: 40Mbps

Unlimited quota,

calls 10 sen/min

RM120
(from RM280)

RM160
 (57%)

MaxisONE Home 100

Download
: 100Mbps

Upload
: 50Mbps

Unlimited quota,

unlimited calls

RM129
 (from RM299)

RM170
(57%)

TM unifi plan

Download
: 100Mbps

Upload
: 50Mbps

Unlimited quota, 600 min talk time, unifi TV pack,

unifi playTV

RM129
 (from RM329)

RM200
 (61%)

TIME – 500Mbps

Download
: 500Mbps

Upload
: 500Mbps

Unlimited quota,

add RM2.50 for free 30 mins calls/month

RM139
 (from RM299)

RM160
(54%)

TIME – 1Gbps
(new)

Download
: 1Gbps

Upload
: 500Mbps

Unlimited quota,

add RM10 for free 300 mins calls/month

RM199

N/A

(First 1 Gbps package in Malaysia)

* Note: TM Unifi also has 800Mbps and 300Mbps broadband speeds at RM329 and RM139 respectively, but these are only for existing plan subscribers as part of the Turbo Upgrade programme.

Broadband Plans Below RM100 Per Month

For the first time ever, Malaysians have access to fibre broadband below RM100 a month – and we have choice! Four providers offer affordable broadband plans below RM100 a month. The
unifi Basic plan
 comes in the cheapest at a download speed of 30Mbps for only RM79, but it has a 60GB quota and an upload speed of only 10Mbps. At just RM10 more per month under
MaxisOne Home Fibre
, you can get the same 30Mbps speed for both downloads and uploads, without any usage quota.

If you’re covered under Celcom’s fibre network in Sabah, you get a faster 40Mbps broadband speed for the same price as the TM unifi Basic – and with no quota. Lastly, right on the upper margin of the RM100 category, TIME blows everyone out of the water with its 100Mbps broadband plan for just RM99 a month.

Broadband Plans Above RM100 Per Month

All the plans in this price category offer an unlimited broadband speed of 100Mbps, except for TIME, which again trumps the competition with a 500Mbps plan for just RM139. Both the Maxis and TM unifi 100Mbps plans cost RM129 – choosing between the two would come down to personal preferences such as whether you prefer having unlimited calls over unifi TV packages. For Sabah residents, the
Celcom Fibre Gold Supreme
 offers 100Mbps at RM120 per month.

And of course, you can also get the
country’s first 1Gbps broadband
 speed for just RM199 per month from TIME – an incredible price considering how much we used to pay for fibre broadband just a few months ago.

Other Factors To Consider

From the comparison table above, it’s quite clear that TIME’s new fibre plans are irresistibly affordable. But there are other factors to consider before deciding on which fibre broadband plan to subscribe to.

For starters, there’s coverage. TIME’s fibre network is only available in high-rise buildings in several states in Malaysia that reaches out to some 600,000 residents. It uses its own network which it claims is limited due to an inability to expand its network to serve landed areas; in its own words, “
it’s not because we don’t want to
“.

The other example here is Celcom, whose fibre network is only available in Sabah. Meanwhile, Maxis rides off of TM’s fibre network, giving it extensive coverage thanks to TM’s massive network reach.

In addition to coverage, you should also look at the add-on features that come with each plan. Some plans bundle free voice call minutes, while others offer free access to video streaming content. If you feel they are useful to your lifestyle, it may be worth putting in the extra few ringgit in the monthly subscription for the features.

Finally, and this may be not as easy to gauge, you should also consider the number of subscribers of that particular provider in your area. Of course, this only applies if you live in an area that is covered by multiple providers. The logic behind this is simple: the higher the number of subscribers for that provider, the more congested the network would be. This may result in internet speeds that are lower than what you subscribed for – especially in peak hours.

Lower Prices, Faster Speeds – A Wish Come True

While prices of mobile internet plans have steadily dropped over the years, broadband prices have largely remained stagnant. This was mostly due to the lack of competition, which the government has attempted to address with the introduction of the MSAP.

With stricter enforcement, it appears the internet service providers have finally followed suit. Affordable internet has widespread positive effects across the socio-economical scale, and is the hallmark of a modern society. Malaysians now have access to faster and cheaper internet, a wish we never thought would come true so quickly.

That said, there is still plenty of work to be done. With the announcement of cheaper fibre broadband prices, there are more who are still stuck with traditional copper-based broadband services like TM Streamyx, who are
paying anywhere between RM110 to RM160 per month
 for 1Mbps to 8Mbps connections.
TM’s Q1 2017 financial report
 states that there are 1.3 million Streamyx subscribers still stuck on legacy connections simply because they live in areas not covered by TM’s fibre network.

With the tumbling of fibre broadband prices, it is simply unfair for Streamyx subscribers to continue paying the astronomical figures for much longer. Internet access is no longer a luxury, but a necessity in this day and age. Thankfully, Communications and Multimedia Minister Gobind Singh Deo appears to be on the case.

In
a statement posted on his Facebook page
, the minister stated that he is aware of the situation, and will be meeting the representatives of the telcos to discuss the matter as soon as possible. Gobind and his ministry will need to work closely alongside the Malaysian Communications and Multimedia Commission to ensure there is continued progress to provide affordable internet to Malaysians. As it stands, it looks like they’re off to a very promising start.

0

0

votes

Article Rating

SHARE

TAGS:

Celcom

Fibre Broadband Plans

Internet Providers

Maxis

Maxis Home Broadband

MaxisOne Home

Streamyx

TIME

TIME Fibre Home Broadband Plans

TM

Unifi

Unifi Basic

About THE AUTHOR

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.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Government Announces Additional BKM Cash Aid For B40 Households, Individuals

Prime Minister Datuk Seri Ismail Sabri Yaakob has announced that the government will be providing an additional Bantuan Keluarga Malaysia (BKM) cash aid of up to RM100 for the B40 income group. This is in a bid to help them cope with the rising cost of living.

Under this additional aid, B40 households will be entitled to an additional RM100, on top of the existing amount that is already being provided under the BKM programme. Meanwhile, B40 individuals will receive an extra RM50. According to the prime minister, these additional cash aids will be disbursed in stages starting from 27 June 2022 (coming Monday), and will be included along with the upcoming BKM payment.

At present, the BKM programme – which was
introduced under Budget 2022
 – provides
up to RM2,500 cash assistance for B40 individuals and households
. Payments are to be disbursed in four phases, with the second phase set to take place this month.

With an allocation of RM630 million, the prime minister said that this additional cash aid is expected to benefit about 8.6 million BKM recipients. This consists of 4 million households, 1.2 million senior citizens (single individuals), and 3.4 million single individuals.

0

0

votes

Article Rating

SHARE

TAGS:

B40

B40 Households

Bantuan Keluarga Malaysia (BKM)

Bantuan Keluarga Malaysia Tambahan

Budget 2022

Datuk Seri Ismail Sabri Yaakob

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.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


PayHalal Partners With Atome To Offer iBNPL Facility For Merchants

Shariah
-compliant payment gateway company PayHalal has rolled out a new i-Buy Now Pay Later (iBNPL) facility for its merchants. Offered in collaboration with BNPL platform Atome, the facility aims to offer sustainable income to merchants by generating traffic to their online or brick-and-mortar stores.

In a statement, PayHalal explained that the new iBNPL facility is a
riba
-free, 0% interest programme that will contribute to merchants’ businesses in several ways. To note,
riba
 is a concept in Islamic finance that refers to the interest charged on loans or deposits.

Specifically, merchants who sign up for the programme will have access to thousands of Atome’s pre-approved consumers with a maximum spending limit of RM5,000. On top of that, Atome’s BNPL app will also run tactical campaigns to drive its users to PayHalal’s merchant base for
shariah
-compliant products and services. With this, participating merchants can have increased exposure to an extensive customer base, thereby growing both their businesses and revenue.

PayHalal also shared that several top brands have already been onboarded into the programme, including Zurich Takaful, Celcom, Misz Nina, Catal Queen, and Halal Development Corporation Berhad. “The campaign has already kickstarted with special promotions offering the first 786 merchants free set-up for the PayHalal payment gateway, which has been pre-loaded with an approved iBNPL facility,” it further said.

Additionally, PayHalal noted that registrations can be done either online or through PayHalal’s on-ground roving team. Online registrations can be completed within 30 minutes with immediate approval, whereas on-the-ground registrations will cater primarily to the needs of offline merchants.

The director of sales at PayHalal, Azhani Azman commented that this iBNPL facility will propel Malaysian businesses to a new level due to the great benefits of its features. “Our iBNPL offers merchants complete market access to shoppers looking to make the most of their budget, whereas shoppers can purchase their heart’s desire without breaking the bank,” he said, adding that he expects this programme to catch on quickly especially during the Ramadan month.

The head of strategic partnerships of Atome, Jeremy Wong also shared a similar sentiment. “Every merchant who signs up on PayHalal will benefit from Atome’s zero-interest programme, technology strength, and marketing prowess. For Muslim consumers, this means they can shop using iBNPL knowing that their purchase is
shariah
-compliant,” he said.

(Sources:
Malay Mail
,
Digital News Asia
,
PayHalal
)

0

0

votes

Article Rating

SHARE

TAGS:

Atome

Azhani Azman

Buy-Now-Pay-Later Payment Solution

iBNPL

Jeremy Wong

PayHalal

Shariah Compliant

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.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Maybank Launches Sama-Sama Lokal Online Platform For Small Businesses, Covers Delivery Fees For Local Hawkers

Maybank has launched its own online platform to help local hawkers who are facing difficulties amidst the movement control order (MCO). Through the “Sama-Sama Lokal” initiative, small businesses are listed on the bank’s site to gain visibility, and Maybank will cover the external delivery fee for hawkers who do not offer delivery services.

According to Maybank, the platform is meant to get these local businesses the awareness they need, especially for those which are less tech savvy and hit hard by the lack of foot traffic due to recent events. Currently, Sama-Sama Lokal has merchants from Kuala Lumpur, Selangor, and Johor, although the platform is still open to listing more merchants from all over the country.

You can view the list of merchants and what they have to offer whether you are a Maybank customer or not. You may make any orders by placing them directly with the vendor through the contact details provided and opt for either self-collection or delivery via a third-party delivery service provider. Payment can be made via instant transfer or Maybank QR Pay.

As an additional form of assistance to both merchants and users, Maybank will absorb the delivery charges for up to 10km distance at selected areas. For delivery distances above 10km, there will be an additional fee of RM1 for each subsequent km.

Maybank is also encouraging users to help identify any struggling food or sundry shops within their own communities so that the bank can help spread awareness of these merchants to the public. You can recommend a
local merchant to Maybank
 by filling up a form here.

In addition to local hawkers, the Sama-Sama Lokal platform also lists other local businesses such as grocers, health services, and alternative meal options on its site. Moreover, those who are looking to stock up on essentials can visit the
Maybank2u marketplace
 to enjoy exclusive discounts from partners such as Watsons, Zalora, and Hermo.

Find out more about the
Maybank Sama-Sama Lokal
 platform here.

4.7

3

votes

Article Rating

SHARE

TAGS:

Covid-19

Local Businesses

Local Hawkers

Maybank

Maybank Sama-Sama Lokal

MCO

Movement Control Order

Small Businesses

About THE AUTHOR

Jacie Tan

Jacie Tan

See all articles

Comments

 (1)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

1
 Comment

 Inline Feedbacks

View all comments

    Fadzlili

    3 years ago

Mcm mana nak daftar unt sama-sama lokal nie

0

Reply


Clearing Your Debts: Which Loan Should You Pay Off First?

All individuals will – at some point in their lives – have to take out a loan to help pay with specific expenses. For instance, if you’re planning to buy a car, you’ll approach the banks for a car loan. Similarly, those looking to buy a house will need a mortgage. And let’s not forget about credit cards that you use on a day-to-day basis; in the banking industry, these are known as unsecured loans.

In applying for these credit facilities, it will become necessary for you to familiarise yourself with how interest is applied to each of them. Understanding this means you’ll be able to develop a repayment strategy that can help you to avoid paying extra interest.

Let’s take a look at a few different types of loans and how interest is calculated for them, as well as share some ideas on which debts to prioritise in your repayment strategy if you’re looking to clear them off.

Think loans, think interest rates

The average individual will typically encounter or apply for four common credit facilities: credit cards, personal loans, hire purchase loans (sometimes known as car loans), and mortgages (house loans). So, let’s break down how interest is charged for these facilities:

Credit cards

Credit cards are, of course, the most familiar line of consumer credit known to the public, with people regularly using them thanks to the convenience and rewards offered. However, these perks can come at a price, specifically when you carry a balance on your credit card.

If you fail to repay your outstanding credit card balance on time, the credit card issuer will then have the right to begin charging interest on the amount. Depending on the card and the issuer, these rates may go up to as high as 18% p.a., greatly increasing the amount that you need to repay.

On top of that, you also need to consider the effects of compounding interest, where interest is charged not only on the outstanding balance, but also on the accumulated interest charged from the day after the due date. Given that credit card interest charges compound on a daily basis, this can cause your unpaid credit card debts to balloon swiftly.

Personal loans & hire purchase

In the case of both personal loans and hire purchase (sometimes also known as car loans), interest is applied at a flat rate; it is calculated based on the principal amount borrowed, which is then repaid across the loan tenure.

To illustrate, let’s say you take out a hire purchase of RM30,000 at an interest rate of 3% for a tenure of five years. You’ll immediately be able to calculate that your repayment will come down to a total of RM34,500 – with RM30,000 as the principal sum borrowed, and RM4,500 (3% * RM30,000 * 5 years) as the total interest charged. This translates to a fixed monthly payment of RM575, regardless of how quickly you pay off your loan.

Note, however, that you will initially pay off more of the interest in the initial period of the tenure. This is known as the Rule of 78, where a higher portion of the interest is allocated in the monthly installment.

Anyway, the calculation of interest for flat rate loans such as personal or car loans differs from the structure that is used on some other facilities, such as credit cards. For credit card, the interest rate is
not applied directly
 to the initial/original outstanding balance, with an unchanging amount of interest that you must pay every month. Instead, it is calculated on a reducing balance, which means that you only pay interest on the balance that you owe for a particular payment cycle. If you’re able to reduce your outstanding balance in the next cycle, then the interest that you need to pay will also be less.

So for instance, if you initially had an outstanding credit card balance of RM5,000 but were able to subsequently reduce it to RM3,500, the bank will only calculate interest on the existing RM3,500 (instead of RM5,000). As such, the faster you clear off your outstanding balance, the less interest you’ll have to pay.

Mortgages

Similar to credit cards, the interest rate for mortgages are also calculated on a reducing balance basis. When you pay the monthly instalment for your housing loan, you are actually paying back a portion of the amount that you borrowed (the principal sum), and the interest for that particular month. This lets you slowly whittle down the outstanding balance, which in turn leads to a gradual decrease in the amount of interest that you need to pay.

There are also some types of mortgages – called semi-flexi or full-flexi loans – that allow you to pay extra in advance (more than your stated monthly instalment) so that you can reduce the principal amount at a faster rate. Do be aware, however, that semi-flexi and full-flexi loans can sometimes offer less competitive interest rates compared to regular housing loans, and may also come with stipulations for some of its services.

Which debt to pay off first?

Now that you have a clearer idea as to how interest is applied to different credit facilities, you can then strategise and decide on which loan to prioritise when tackling your debts. Some key factors that you may want to consider while planning your strategy include:

Which loans are the most demanding on your finances?
Which loans are the most urgent?
Which loans can help you save the most money if settled early?

Usually, it is a good idea to begin with your credit card debts as these are the most draining in terms of interest rates. Not only are they higher than other credit facilities, they also compound on a daily basis – which is why it’d make good financial sense to clear these off first.

From there, move on to mortgages as an early settlement of your housing loan can help you save a pretty neat sum on the interest in the long run. Do so by clearing off the principal balance as quickly as possible, and you’ll be able to reduce the overall interest that you need to pay – possibly even up to tens of thousands of ringgit.

Finally, debts with flat interest rates – in this case, personal loans and hire purchase – should be your last priority as these don’t offer any savings even if you clear them off ahead of schedule. In addition, the Rule of 78 applied on these loans also reduces the benefits of paying them off earlier.

Of course, bear in mind that there is no “right” way to pay off your debts as every borrower is affected by different financial circumstances, lifestyle needs, and temperament. Some other repayment strategies that you could also check out include the popular avalanche and snowball repayment methods.

***

With this, we hope that you will now be better prepared about how you can plan your debt repayment strategy. Otherwise, watch this video by licenced financial advisor Brenda Yong – shot in collaboration with UOB Kay Hian Wealth Advisors – where she puts a delicious spin on debts and interest rates with analogies of
roti canai, nasi lemak,
and
teh tarik.

Eager to guide investors along their investment journey, UOB Kay Hian is one of Asia’s largest brokerage firms with the capability to trade across a broad range of securities, including stocks, bonds, unit trusts, futures, options, contracts for differences (CFDs), and forex. Headquartered in Singapore with a wide network of over 80 international branches, it also brings you innovative initiatives such as its online investment platform, UWEALTH.

UWEALTH is the first investment platform to be supported by Morningstar, an influential investment research firm that empowers investors with an array of investment research and management services – including compiling and analysing fund, stock, and general market data. Harnessing the advantages provided by this partnership with Morningstar, UWEALTH is able to offer “a full spectrum of wealth management solutions” – from fund analysis and comparison to portfolio construction.

As an example, investors can make use of UWEALTH’s portfolio planner to search for specific funds, including Morningstar’s four- and five-star rated funds. You can also tap into the perks of Portfolio X-Ray, a service provided by Morningstar that lets you quickly uncover key details of a selected portfolio, such as its asset allocation, as well as geographic regions and sectors.

On top of that, UOB Kay Hian’s UWEALTH also has connections with over 50 local and global fund houses, offering more than 3,000 funds that investors can pick from to suit their specific investment needs. Among some of the well-known fund houses that can be found on the UWEALTH platform include AffinHwang Asset Management, Nomura Asset Management Malaysia, and Phillip Mutual.

Find out more about
UOB Kay Hian’s UWEALTH platform
 and how it can contribute to your investment journey today!

2.5

4

votes

Article Rating

SHARE

TAGS:

Credit Cards

Hire Purchase

Home Loans

Mortgages

Personal Loans

UOB Kay Hian

UWEALTH

About THE AUTHOR

ringgitplus

ringgitplus

See all articles

Comments

 (1)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

1
 Comment

 Inline Feedbacks

View all comments

    Kai

    11 months ago

Is it wise to take new loan to pay up mortgages (housing loan – remaining 11 years)?

What are the things / amount that i should consider if i decided to take up new loan for this purpose.

Thanks.

KAI

0

Reply


Don’t Get Tricked into Overspending During Sales Season

Malaysians are blessed with plenty of sales event each year, and with proper planning,
budgeting
, and
self-control
 (we’re looking at you, shopaholics) shopping during a sale
could potentially
 help you save a huge chunk of cash.

That being said, sales season is also a
huge spending trap
 for consumers. From the choice of colors to product placement, retailers employ various gimmicks that are specifically designed to
trigger
 your desire to buy – even if you have no intention to purchase anything in the first place.

Here’s a list of the most common
sales marketing gimmicks
 used by retailers and sellers you should know about to help you become a smarter and savvier shopper during this year-end sales season!

The Free Shipping Offer

Most online stores charge a
delivery fee
 which varies depending on where you live. Money-conscious shoppers balk at the thought of paying a delivery fee, which is why online stores would often offer free shipping during sales season to encourage people to buy from them.

Other online stores set a
minimum purchase amount
 in order for you to qualify for free shipping, which is detrimental to you as a consumer. Let’s be honest, how many times have you spent an extra 20 minutes looking through the online store just to look for another item (that you might not even need) for your shopping cart so that you are eligible for free shipping?

This marketing strategy distracts you into thinking that you’re saving money by not paying the shipping fee, when in reality you’re actually
spending more
 than you need to.

Tip:
 Look for online stores that offer free shipping without a minimum spending amount and create a shopping list before you start your online shopping. Most importantly – stick to your shopping list!

The BOGO Trap

BOGO, or
‘Buy One Get One’
 promotion is a common sight during sales. BOGO deals are generally good if its a promotion for an item that you frequently consume or really need – think toiletries, foods (check the expiry date before buying), and other essentials.

But, if you see a huge ‘Buy One Free One’ banner for items that you don’t need or wouldn’t normally buy (e.g. sugary snacks, cheap cosmetic products, or even old-fashioned clothes) and get tempted to buy any of them
just
 to get the freebies, you’re already proving that their marketing strategy works.

Also, stay clear from the ‘Buy One, Get One for 50% Off’ offers, unless you really need two of the same item. Reason being, it might look like you’re saving a lot of money, but in reality, you’re only saving 25% off the total price of the two items.

The Members Only

Picture this; you walk into a store, see a huge ‘SALE’ sign underneath a few racks of clothes in the corner, and decide you want to buy a few shirts. You take the shirts to the cashier thinking they’re a bargain, until you see a huge total on the till. Turns out, the sale is only applicable for the store’s
loyalty card holders
!

This happens more often than you might think. Retailers often offer discounts or reward points if you shop with their loyalty card – which is also how they get you to
come back
 to their store(s) for your future purchases. Loyalty cards also entice you to buy more, as retailers often offer free gifts or vouchers if you collect a certain amount of reward points or spend a certain amount of money.

Tip: Unless the loyalty card offers you great discounts and savings, opt for a credit card that gives you great cash back or reward programme instead. There are plenty of cash back and rewards credit cards that rewards you when you make purchases with them, such as
Citi Cash Back Platinum
 and
Citi Rewards Visa Signature
 . Click below for more Citibank credit card options!

The ‘Limited Time Only’ Snare

Ah, the limited time only sale. It’s an effective marketing gimmick because it was designed to invoke a sense of urgency to make an impulse purchase right there and then. This offer is often described as the
‘flash sale’
 – to give the impression of a great opportunity to save money that only lasts for a short period of time (usually between 1 to 3 days).

While it may be tempting to buy the items on sale on the spot, take some time to ask yourself if you really need any of them. A new camera at 30% off may sound like a steal, but if you have a perfectly functioning one at home, you’ll only end up being a few hundred ringgit poorer with and extra of something that you already have.

Tip:
 Wait at least two to three days before buying anything – even if it’s on sale. It’s a great way to minimise impulse buying, and it helps you save your money from spending on unnecessary things. Don’t be intimidated by the limited-time-only sales; trust that you can find the same – or similar – item in the future (probably at a cheaper price) when you actually need it.

Prepare Yourself Before You Shop

It’s so easy to fall for the marketing gimmicks set by the retailers, especially during this year-end sales season. But now that you know what to look out for, you can plan your shopping trips better and be the savvy shopper that can inspire others around you!

If you’re looking to take advantage of the sales season, why not maximise your reward points or cash back with Citibank credit cards? Click below to find your Citibank credit card!

0

0

votes

Article Rating

SHARE

TAGS:

Cashback

Citi Cash Back Platinum

Citi Rewards Visa Signature

Citibank

Rewards

Sales

Spending

About THE AUTHOR

ringgitplus

ringgitplus

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Civil Servants Can Now Apply For Shariah Personal Financing Via ePanta$ App

There is a wide variety of financing options in the market today, available in both conventional and shariah-compliant options. A little-known fact is that there are a few products available exclusively to civil servants, offering them the funds they may need to accomplish life goals such as starting a new business or for essential needs like home renovation works.

With that in mind, Yayasan Ihsan Rakyat (YIR) and Yayasan Dewan Perniagaan Melayu Perlis Berhad (YYP) are two shariah-compliant personal financing options that civil servants can consider. Personal Financing-i by YIR and YYP offer useful features in line with today’s digital and fast-paced world, including:

Fast disbursement in as quick as 24 hours,
Easy application process,
High financing amount of up to RM250,000,
Financing tenure up to 10 years,
Exclusively for civil servants, and
The product is based on the shariah concept.

For more information on Personal Financing-i,
click here
 to read this more in-depth article.

In encouraging remote and digital applications, ePanta$ has entered the financial scene since October 2021. Simply download the app on any smartphone for Personal Financing-i offered by YIR and YYP is just one click away.

The personalised financing application channel has a straightforward and user-friendly interface that guides users step-by-step through a simplified process.

How ePanta$ Works

To summarise, here is what you can expect from applying for Personal Financing-i by YIR and YYP through the ePanta$ app:

Fill in your application details at your own convenience,
Verify your application with supporting documents,
Keep track of your application by checking your progress, and
Fast disbursement in as quick as 24 hours.

Apply From Anywhere, Anytime

As an end-to-end digital platform, applicants can choose to apply for any financing anytime. We may not have the time to visit physical branches, but in this day and age, we always have our phones with us. With ePanta$, the application process is hassle-free and even simpler than before.

Secure And Protected

Unlike other apps that only use passwords and OTP, the ePanta$ app also uses the eKYC process and digital signature features. Hence, this helps to mitigate the risk of security breaches and unauthorised access.

Stand A Chance To Win Prizes

Successful applicants may have a chance of getting more than just the financing they applied for. Those who have successfully been approved for Personal Financing-i by YIR and YYP stand a chance to take home exciting prizes like Yamaha motorcycle, Apple iPads, Apple Watch and even Apple AirPods. The Giveaway ePanta$ YYP & YIR Campaigns are exclusively for civil servants who have successfully applied through the ePanta$ app.

Download the mobile app via
Google Play Store
 or
Apple Store
 today to register and bring great prizes home.

*The contents of this article do not constitute financial advice. Readers should conduct their own research before making a financial decision.

5

1

vote

Article Rating

SHARE

TAGS:

Civil Servants

government servant

Personal Financing

Shariah Compliant

YIR

YYP

About THE AUTHOR

Lisa Ameera Azman

Lisa Ameera Azman

See all articles

Comments

 (1)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

1
 Comment

 Inline Feedbacks

View all comments

    suhaimin omar

    1 year ago

Are civil servants pensioners eligible for this koan

0

Reply


5 Signs That Show You Are Ready For a Credit Card

#Are You Ready for a Credit Card?

Credit cards are usually on the top of many a new worker’s wish list. As we grow, we may experience more serious expenditures and commitments that require the planning and convenience offered by a credit card.

However, wanting a credit card is very different from being ready for the responsibility of having one. Can you be sure you are truly ready for a credit card? Test the waters first before diving into the pool of (almost no return) credit limits and statements. Here are five signs that show you are ready for this responsibility!

1. You Are Credit Worthy

Being credit worthy is the difference between receiving a rejection or approval for your new credit card application. As a new entry to the workforce; you’re probably not saddled with any other kind of loan. This is both good and bad for your credit rating.

Good, because you haven’t had the opportunity to miss a payment and mess the rating but bad, because you just have no score at all. With no payment history; it’s hard for banks to decide the kind of paymaster you will be.

However, this doesn’t mean you will be unsuccessful – the best way is to start with a
‘beginner’ or basic credit card
 and have at least 6 months of work to your name (and payslip!). This will help you look more attractive to banks.

2. You Are Financially Responsible

Do you pay your bills on time? Know how to control your spending habits? Do you keep a monthly budget? All of these are important questions to answer so you can decide if you are going to be able to manage the responsibility of a credit card without running up hefty bills.

It is important to be financially responsible as credit cards require discipline for knowing how and when to spend using a credit card. Payment not dealt with will certainly cost you in the long run in interest and fees.

3. Your Job is Stable

Although nothing in life is really guaranteed, you can at the least be more sure than doubtful about some things. If you are still on probation in a company or are employed for a short-term project, it’s reasonable to assume that your job is not as secure as could be.

Qualifying for a credit card often means having a permanent job and some banks may even ask for a letter of employment and confirmation. Beyond a matter of process, this point is also important as you don’t want to find yourself jobless and suddenly relying on your credit card as a crutch. It will be a move to regret.

4. You Know How Credit Cards Work

You may think you know – but do you really? Do you know how interest is charged, how payment works and what credit limits are? If you answered no to any of these questions – take a step back and find out.

Taking on any financial product means knowing just what it is! It’s also an added bonus if you equally know how to keep your card safe and how to maximise its benefits. We’re happy to say, these are all tips you can pick up by following our
blog updates
!

5. You Understand What a Credit Card is (and isn’t!)

To some people, the concept of a credit card may seem very much

complex. They fear it; hate it and may often blame it for the financial ruin they perceive in others. On the flipside, some see it as a magic plastic payment tool that will give them anything they want with no end.

But it’s important to see a credit card for what it truly is: a financial tool that can be both good and bad depending on what you do with it. Just like a gun cannot shoot without someone to handle it; a credit card can’t swipe without a user.

Use it well and it will serve you well. If you understand this about credit cards – you are ready!

Are you ready for the commitment? If so, take a look at our
Xpress Apply
 service for fast and easy credit card applications.

4.5

2

votes

Article Rating

SHARE

TAGS:

Credit Score

Credit Worthy

Financial Advice

Financial Behaviour

Personal Finance

Xpress Apply

About THE AUTHOR

Heeral Bhatt

Heeral Bhatt

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Shopee Now Also Has Its Own Bill Payment Feature

Malaysians can now pay their bills on the Shopee app, covering a wide range of services ranging from postpaid plans, utilities, and even cable and streaming services.

At launch, Shopee’s bill payments feature covers a large amount of vendors. Maxis postpaid bill is supported, which isn’t available on other bill-payment e-wallets including Grab, Lazada, and Boost. Bills for streaming services such as NJOI and iflix are also supported, as well as Astro under “Cable TV”. Unfortunately, TNB electricity bills isn’t available.

What’s great about Shopee bill payments is the inclusion of Shopee Coins as a payment option. Shopee Coins, which can be collected from the many Shopee games and activities (including voucher usage and regular purchases), can offset 25% of the payment, but is capped at RM30 per day. 1 Shopee Coin is worth 1 sen.

Users can find this feature on the homepage of the Shopee app under the ‘Reloads, Vouchers & Bills’ tab. Here, the different services have all been compiled in one section. Select your desired bill, key in the necessary details, and then proceed to checkout. Apart from paying with ShopeePay, Shopee also accepts credit and debit cards, online banking, and even cash payments at 7-Eleven stores.

To encourage customers to pay their bills with Shopee, the online shopping platform is now offering 3x Shopee coins cashback for all bill payments and online streaming subscriptions. You can use Shopee coins earned from these payments to offset future bills, as well as spend them on e-vouchers and mobile reloads. However, while there is no minimum spend required, cashback is capped at RM3.

Shopee’s bill payments feature follows closely after
Lazada
 announced a similar feature just a few days earlier

(Source:
Shopee
)

0

0

votes

Article Rating

SHARE

TAGS:

Bill Payments

Shopee

Shopee App

Shopee Coins

ShopeePay

About THE AUTHOR

Christine Tay

Christine Tay

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


UOB Campaign Offers Cashback, Rewards For Selected E-Wallet Reloads On Thursdays

UOB Bank will be running its E-Wallet Deals campaign to reward credit cardholders with cashback, vouchers, or rewards points when they reload a specified minimum amount into selected e-wallets on every Thursday. Set to begin tomorrow (20 April 2023), the promo will run for three months until 28 July.

Open to all UOB credit cardholders and Citi-branded credit cardholders (subject to availability), the campaign will see a total of five participating e-wallet service providers: Touch ‘n Go (TNG) eWallet, GrabPay, Boost, ShopeePay, and Lazada Wallet. Here are the full details of the promo:

E-Wallet
Reward
Requirement
Redemptions
When is the reward credited
TNG eWallet
RM18 cashback
Minimum reload of RM500 in a single transaction
600 redemptions (first-come first-served)
Within 10 working days from end of each month
GrabPay
RM18 GrabFood voucher
Minimum reload of RM500 in a single transaction
250 redemptions (first-come first-served)
Within 5 working days from date of successful reload
Boost
7,000 Boost Stars
Minimum reload of RM500 in a single transaction
250 redemptions (first-come first-served)
Within 48 hours from date of successful reload
ShopeePay
RM18 cashback
Minimum reload of RM250 in a single transaction
250 redemptions (first-come first-served)
Within 2 to 3 working days from date of successful reload
Lazada Wallet
RM18 cashback
Minimum reload of RM250 in a single transaction
250 redemptions (first-come first-served)
Within 30 days from date of successful reload

Note that each cardholder is only allowed to make one redemption for each e-wallet on each offer day (Thursday). Additionally, some of the rewards may come with its own terms and conditions to use, as well as validity period – so make sure to double check!

For instance, the GrabFood voucher offered has a validity period of 45 days from the issuance date, and is only applicable for payments made with UOB or Citi credit cards, GrabPay, and PayLater by Grab only. Meanwhile, the Boost Stars offered will be valid for nine months or three quarters once it is credited, whichever date comes first. Similarly, the cashback rewards for Lazada Wallet will be valid for 60 days from the issuance date, and you must select Lazada Wallet as your payment option for your purchases in order to use the cashback amount provided.

Finally, no registration is required in order to participate in this campaign. Just go ahead and top up your preferred e-wallets on Thursdays during the campaign period in order to earn the rewards.

(Source:
UOB
)

0

0

votes

Article Rating

SHARE

TAGS:

Boost

E-Wallets

Grab

GrabPay

Lazada

Lazada Wallet

Promotional Campaigns

Shopee

ShopeePay

TNG

TNG eWallet

Touch 'n Go

Touch 'n Go eWallet

UOB

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.

See all articles

Comments

 (1)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

1
 Comment

 Inline Feedbacks

View all comments

    Anonymous

    3 months ago

For TNG, 600 redemptions for each Thursday or total 600 redemptions throughout the whole promo period?

0

Reply


Alliance Bank Revises Visa Infinite And Platinum Card Benefits Effective 1 August

Alliance Bank is revising the benefits of the Alliance Visa Infinite credit card, reducing the Timeless Bonus Points (TBP) awarded for domestic retail transactions and removing complimentary access to airport lounges.

Currently, Alliance Bank Visa Infinite cardholders are entitled to complimentary Priority Pass Membership to enjoy access to over 850 VIP lounges worldwide, with the number of complimentary visits depending on the cumulative retail spending for the current year. The card also rewarded unlimited access to KLIA 1’s Plaza Premium Lounge with no spending condition. From 1 August, these benefits will no longer be available.

Besides that, another change to the
Alliance Visa Infinite
’s benefits is that the TBP awarded for every RM1 spent on domestic retail transactions will be reduced from 2x to 1x points. On the bright side, the TBP awarded for overseas retail transactions will be maintained at its 5x rate. This means it is still one of the
best credit cards for air miles conversion
 for overseas transactions.

Meanwhile, complimentary access to Plaza Premium Lounge KLIA 1 is also offered to
Alliance Bank Platinum
 credit card holders who are Alliance Privilege Banking or Alliance Personal customers. Alliance Bank has likewise stated that complimentary access for these Platinum cardholders will be removed on 1 August as well.

Alliance Bank had earlier announced
changes to the TBP benefits
 for the Alliance Bank Platinum; Platinum cardholders now earn 1x TBP for petrol, groceries, and utilities instead of 2x as of 1 July. The TBP award rates for the
Alliance Bank Gold
 and
You:nique Rewards
 were also affected.

(Source: Alliance Bank [
1
], [
2
])

0

0

votes

Article Rating

SHARE

TAGS:

Airport Lounge Access

Alliance Bank

Alliance Bank Platinum

Alliance Bank Visa Infinite

Rewards Points

About THE AUTHOR

Jacie Tan

Jacie Tan

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Tune Talk & Hotlink Offering Up To 61GB Of Free Data

In lieu of the upcoming Merdeka Day, two telco companies are currently offering up to 61GB of free data to their customers. Tune Talk’s Jom Kibarlah and Hotlink’s HotlinkMU Giga Sale campaigns reward customers with the generous data allocation, for a limited time.

(Image: Tune Talk)

Under
the Jom Kibarlah campaign
 which runs until 16 September, Tune Talk is offering new customers a total of 61GB of data in two ways. The first is for new customers who purchase a new Tune Talk SIM, and they will receive 36GB of data on the first month, and 5GB for the following two months, which amounts to a total of 46GB of data. The other offer is reserved for customers who port in their existing numbers from other telco companies, where they will be given 36GB for the first month and 5GB for each of the next five months.For both offers, customers need to top up at least RM30 to be eligible for the free data.

(Image: Hotlink)

Meanwhile,
Hotlink customers can get 61GB of free data
 if they purchase any HotlinkMU deals via the Hotlink Red App during the promotion period. All customers need to do is to download the app from either the
Apple App Store
 or
Google Play Store
 and purchase any of the HotlinkMU deals. The HotlinkMU deals are personalised deals that are based on the customers’ usage behaviour, and are refreshed daily. Therefore, the 61GB offer differs for each customer – no two customers would receive the same offer, but each deal during the promotion period will include the additional 61GB of data, and will have a validity period that follows the original deal. The free 61GB promotion ends on 20 September.

(Source: SoyaCincau (
1
) and (
2
))

0

0

votes

Article Rating

SHARE

TAGS:

Hotlink

Tune Talk

About THE AUTHOR

Brian Chung

Brian Chung

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments