National Strategy for Financial Literacy: 5 Strategic Priorities

Earlier this week, Prime Minister Tun Dr Mahathir Mohamad officially launched the country’s
National Strategy for Financial Literacy 2019-2023
. It is a holistic five-year plan aimed at elevating the financial literacy of Malaysians, promoting responsible behaviour and a rational attitude so that the financial well-being of Malaysians can be improved.

This national strategy was crafted by the Financial Education Network (FEN), an inter-agency group co-chaired by Bank Negara Malaysia and the Securities Commission. FEN has centred the National Strategy for Financial Literacy around five main strategic priorities, with each priority having its own goals, action plans, and desired outcomes for the next five years.

Here is a brief overview of what the five key pillars are.

#1: Nurture values from young

The first strategic priority focuses on starting financial education at an early age. Malaysian school children should be educated with basic financial knowledge and skills. To do this, financial education will be expanded into the curriculum and co-curricular activities at pre-school, primary, and secondary school levels. FEN also has plans to introduce the right resources and support for teachers as well as encourage the broader community to advocate financial education.

Hopefully, young Malaysians will be able to understand and apply basic financial knowledge, skills, and values when it comes to making financial decisions.

#2: Increase access to financial management, tools, and resources

To improve financial awareness amongst Malaysians, FEN seeks to deliver crucial information related to money management such as:

Knowledge of basic financial concepts

The ability to live within one’s means

How to manage expected and unexpected expenses

Avoiding financial scams

Having the ability to assess risks and benefits of financial products and services.

The information will be delivered in bite-size messages using various channels like social media, digital platforms, and physical touch points to reach as many Malaysians as possible. Further action plans to make basic financial education easily understood and available to all will include nationwide campaigns and collaborations between FEN and other stakeholders.

#3 Inculcate positive behaviour among targeted groups

Under this priority, “targeted groups” constitute those who are in financially vulnerable positions in society – housewives, the self-employed, and young graduates who are just entering the workforce. Bank Negara’s Financial Capability and Inclusion Demand Side Survey 2018 (FCI Survey 2018) also observed that lower-income households tend to have lower levels of financial literacy.

The desired outcome of this priority is to cultivate behavioural change among these groups that will promote healthy financial habits. As this requires consistent intervention over a period of time, action plans will include long-term initiatives that provide information, education, and incentives for target groups. Some of FEN’s action plans include encouraging financial education at the workplace and encouraging community-based financial education.

#4 Boost long-term financial and retirement planning

The FCI Survey 2018 observed that Malaysians tend to save without clear goals and “live for today”, leaving them without sufficient funds for major or unexpected expenses. Meanwhile, there is a lack of retirement planning especially within the informal working sector which exists outside of the purview of the Employees’ Provident Fund (EPF).

Malaysians need to inculcate the habit of long-term planning for different life stages like marriage, having children, performing pilgrimage, death, and illness. They should also have enough funds to meet their future financial needs and retire comfortably. To help bring this about, FEN plans to push innovate guides and tools for financial planning, advocate for professional financial planning advice, and encourage voluntary savings channels to promote income diversification.

#5 Building and safeguarding wealth

Under this priority, FEN will promote better understanding of the risks and returns to build wealth and publish materials relating to sophisticated financial products and services. Meanwhile, Malaysians also need to improve their awareness on the innovation of financial products and services as well as learn to recognise financial scams and fraud.

The end goal is to empower Malaysians to make informed financial decisions after clarifying and understanding the nature, benefits, and risks of various investment products – and enable them to diversify their investments too.

Why Is This Important?

As shown in FEN’s report on the National Strategy, the current state of financial literacy in Malaysia is less than satisfactory. Concerns have been highlighted in the areas of level of financial knowledge and saving and budgeting. For example, 1 in 3 Malaysians rate themselves to be of low financial knowledge, and 84% of Malaysians who claim to save regularly do so only to withdraw these savings at the end of the month.

Malaysians also measure poorly in terms of readiness for unexpected life events and retirement planning. 52% of Malaysians have difficulty raising even RM1,000 as emergency funds and almost half of Malaysians are not confident that they will have a proper stream of income for their retirement.

Therefore, the National Strategy for Financial Literacy is a vital endeavour towards improving the state of financial literacy of the nation. Once financial education has paved the way towards financial literacy, Malaysians can work towards achieving financial well-being and lead sustainable lives that can withstand the financial worries that will come their way.

If you would like to find out more about Malaysia’s National Strategy for Financial Literacy, visit the
Financial Education Network’s website
.

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Should You Pay Off Your PTPTN Debt With Your EPF Money?

More Malaysians are using their Employees Provident Fund (EPF) to pay off their National Higher Education Fund Corporation (PTPTN) debt
, but many more are debating the wisdom of using what is meant to be kept as our retirement fund to pay off our student debt.

If you’re still on the fence on whether you should or shouldn’t use your EPF to pay off your PTPTN debt, here are 4 scenarios of when you should – without a doubt – be prioritising the repayment of your student loan over your retirement fund:

1. When You Need A Credit Card or a Loan

If you’re applying for any type of financial facilities in the form of a loan or a credit card, you’ll want to have the best credit score that you can possibly have to increase your application’s approval rate – and ultimately, be qualified for the lowest interest rate available.

Typically, a financial institution will look into your credit report from credit reporting agencies such as Central Credit Reference Information System (CCRIS) and Credit Tip-Off Service (CTOS) before approving your loan or credit card application. Your PTPTN debt will be reflected in your credit report as a credit facility (an amount owed to a financial institution), and the higher your credit facilities are, the more negatively it will affect your credit score.

A good credit score
 is mainly defined by your payment history and amounts owed, therefore the less you owe, the better your chances are of having your loan or credit card application approved. The smart thing to do here would be to consider withdrawing your EPF and pay off at least a portion of your student loan in order to improve your credit score
before
 applying for any credit card or loan facilities.

2. When You’re Barred From Leaving the Country

PTPTN may not be as annoying as other financial debt collectors when it comes to getting you to pay your debt to them, but they do have their own – and very effective – way of forcing you to pay without having to hound you incessantly with calls and emails letters; by barring you from leaving the country, renewing your passport, or even obtaining a new passport.

In this situation, it’s better to use your EPF to pay off a portion of your student loan to give your finances more breathing room – and make the planned international trip without hurting your budget. Do take note that PTPTN will require at least
7 working days to remove your name from the travel blacklist
.

Read also:
6 Part-Time Ways To Make Money

3. When You Need to Use Your EPF Cash For Non-EPF Purposes

Suppose you’re going through a financial pickle or planning for something that requires a great deal of money. You can’t just withdraw your EPF money to pay for these savings goals or emergency expenses.

What you can do however, is free up the monthly cash you’ve been using to pay your PTPTN loans by using your EPF money to cover the payment for a set period of time. How much time that is depends on how much cash you need.

For instance, say you’re aiming to pay off your credit card debt in 2 years, and your monthly PTPTN repayment amount is RM200. Therefore, the amount of money that you should withdraw from your EPF account is:

RM200 X 24 months =
RM4,800

After making the calculation, make the payment (of the total calculated sum) to PTPTN via your EPF account, and make sure to let PTPTN know of your intention. It’s
imperative
 for them to know the sum of money you’re paying them via your EPF account is, in fact, to offset your
future monthly repayment
 for the predetermined period of time. After all, you wouldn’t want to be involved in any sort of misunderstanding that could mar your credit history.

4. When You Want to Cut Down On Your Repayment Amount

As an initiative to encourage lenders to repay their student loan, PTPTN has announced
discount incentives in the 2017 Budget
 that are valid until December 2017. The discount incentives are as follows:

15% off the total outstanding debt for full settlement.

10% off payment of at least 50% of the outstanding debt made in a single payment.

10% off the total outstanding amount for payment through salary deduction or direct debit in accordance to the repayment schedule.

If you’re looking to make more savings in the long run, these are the repayment options that you should look into. Say, for example, your total student loan is RM45,000 (before interests), and you’re entitled to 10% off your total outstanding debt, you’ll be able to save
RM4,500
 of your hard earned money. So if withdrawing a portion of your EPF allows you to get these discounts, you should definitely consider doing so.

Have you thought about paying off your PTPTN debt with your EPF? Or are you one of the many who has made partial or full settlement on your student loan? Share your thoughts and experiences with us in the comment section below!

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Samsung Galaxy S10 Price In Malaysia Starts From RM2,699, Pre-Orders Start 22 February

Hours after its global announcement early this morning, Samsung Malaysia has official announced the retail prices of its new flagship smartphone series, the
Galaxy S10
. For the first time, Samsung is introducing three new models in the S10 lineup – where it takes a leaf out of Apple’s playbook with the affordable Galaxy S10e.

Featuring an all-new “Infinity O” display, the S10 smartphones all feature a near-full screen display with small cutouts for the front cameras. Even more impressive is the new ultrasonic fingerprint sensor (S10 and S10+ only) built underneath the display, allowing you to unlock your phone by simply placing a finger on the screen. For the S10e, the fingerprint sensor is built into the power button.

Samsung’s also added in more cameras for the S10 lineup. The S10e has two rear and one front, the S10 has three rear and one front, and finally the larger S10+ has three rear cameras and two selfie cameras. Each camera provides a different functionality, allowing for a versatile shooting experience.

For the Malaysian market, Samsung is bringing in the three main models: the Galaxy S10e, Galaxy S10, and Galaxy S10+. The retail prices are:

Galaxy S10e (128GB): RM2,699

Galaxy S10 (128GB): RM3,299

Galaxy S10+ (128GB): RM3,599

Galaxy S10+ with ceramic back (512GB): RM4,599

Samsung Galaxy S10 Pre-Order In Malaysia

Starting tomorrow (22 February 2019), Samsung will be opening pre-orders for all Galaxy S10 models. As usual, the company will be bundling some attractive pre-order rewards, while stocks last. The pre-order rewards are:

Galaxy S10e: free Galaxy Buds + Samsung Screen Protection (total value RM639)

Galaxy S10 (128GB): free Galaxy Tab A 7.0 + Galaxy Buds + Samsung Screen Protection (total value RM1,289)

Galaxy S10+ (128GB): free Galaxy Tab A 7.0 + Galaxy Buds + Samsung Screen Protection (total value RM1,289)

Galaxy S10+ (512GB): free Galaxy Watch 42mm + Samsung Screen Protection (total value RM1,479)

Where To Pre-Order Samsung Galaxy S10 In Malaysia

And like previous years, the Galaxy S10 pre-order will open simultaneously with various online and offline partners. Besides
its own website
, you can also pre-order the Galaxy S10 in
Lazada
, 11street, and
Shopee
 as its online partners, various offline retail chains including Harvey Norman, Senheng, and Urban Republic will also offer the pre-orders. Finally, all major telcos (except, surprisingly, Digi) is offering the pre-order as well.

All official partners will offer the same pre-order rewards as the official Samsung pre-order. On top of that, the telcos will also offer the smartphones at rebated prices with their respective postpaid bundle plans. We’ve also been told that Shopee will be offering a RM100 coins cashback deal when the pre-order opens tomorrow as part of the platform’s ongoing “Shopee For Men” sale.

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Pang Tun Yau

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

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Get Lost in a Magical World with HSBC Smart Privileges

Picture of hotel room taken from
The Lost World Hotel Official Page
.

Always wanted to reenact Indiana Jones but can’t hack the real wilderness? How about some man made fun? Score amazing discounts on rooms at the Sunway Lost World Hotel and Theme Park, Sunway City Ipoh with your HSBC card.

Take the family or your best buds on a fun vacation at a fraction of the cost thanks to your HSBC Credit Card. The discounts are:

Enjoy 60% OFF* on EXOTIC Room (Published Rate: RM500.00).

Enjoy 60% OFF* on CLASSICAL Room (Published Rate: RM600.00)

Enjoy 60% OFF* on Deluxe Suite (Published Rate: RM800.00)

Enjoy 60% OFF* on Executive Suite (Published Rate: RM900.00)

Enjoy 60% OFF* on Premier Suite (Published Rate: RM1000.00)

Enjoy 60% OFF* on Super Super Suite (Published Rate: RM1200.00)

Room Rates include Breakfast for two and 2 Lost World Hot Springs & Spa by Night entrance ticket. There is a super peak surcharge of RM50 nett applicable on the eve of Public Holiday, Public Holidays, Malaysian School Holiday weekends and Super Peak season so check your calendars!

Picture of Theme Park Entrance room taken from
The Lost World Hotel Official Page
.

There is also a weekend surcharge of RM20.00 nett (Friday & Saturday). Prior reservation is required and subject to availability. Call the Sunway Lost World Hotel at: +605 542 8888 if you need any further information. We’re sure they’re happy to help!

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Diana Chai

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Grab E-Bazar Ramadan Offers Delivery Of Bazaar Favourites To Your Doorstep

Grab Malaysia will be working with the Selangor and Kuala Lumpur state governments to digitise Ramadan bazaars and deliver Ramadan favourites right to Malaysian homes. Both the governments of Selangor and Federal Territory of Kuala Lumpur officially announced their partnership with Grab today.

“In the spirit of supporting micro-entrepreneurs and keeping the community spirit of Ramadan alive, Grab has partnered with local councils in the implementation of a safe, hygienic, and socially distanced Bazar Ramadan,” said
Grab
. “Grab e-Bazar Ramadan allows customers to order their favourite food from merchants of the bazaars without having to leave their homes. As a Grab e-Bazar Ramadan Merchant, you get to operate your stall and have your food delivered to your customers by our delivery partners.”

According to Grab, it is currently engaging with other state councils on the possibility of digitising their local Ramadan bazaars as well. In addition to the e-Bazar Ramadan, Grab has also launched two other initiatives for Ramadan. GrabFood Ramadan Favourites is a collaboration between Grab and its restaurant partners to curate traditional Ramadan-favourite menus on GrabFood. Meanwhile, GrabExpress Ramadan allows local businesses and social sellers to continue running their business and deliver their products via GrabExpress. Interested parties can sign up to join these initiatives via
Grab’s website
.

Earlier on 1 April, the
Selangor government
 announced that the state will be cancelling all Ramadan bazaars for the year due to the Covid-19 outbreak. Later, Senior Minister Datuk Seri Ismail Sabri Yaakob said that all
Ramadan bazaars nationwide
 would not be allowed while the movement control order (MCO) was still in force. While the MCO is set to be enforced until 14 April, the government is currently deciding on a possible extension, with the announcement to be made this
Friday
. This year, the holy month of Ramadan will begin on 24 April.

(Source:
Grab
)

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Jacie Tan

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Samsung Malaysia Sold Three Galaxy Note 9 Smartphones For RM115,000

Samsung Malaysia auctioned three special edition units of
the new Galaxy Note 9 smartphone
 for a total of RM115,000. In a touch of class, Samsung announced that all proceeds from the auction will be donated to the Ministry of Education.

At its official Malaysia launch event yesterday, Samsung Malaysia officially announced that the new Galaxy Note 9 flagship smartphone will go on sale in Malaysia from 24 August 2018. However, one particular highlight during the event, which was attended not only by members of the media, but also distributors, dealers, and other partners from across the country, was the special auction of the special edition Galaxy Note 9.

In actual truth, there isn’t anything particularly special about the device. The only difference was in the package: each unit consists of an 8GB/512GB Midnight Black Galaxy Note 9, a Samsung Fast Wireless Charger, a Samsung Gear Sport smartwatch with extra strap, and the actual special product: a Galaxy Note 9 Protective Stand Cover Case which had a 24k gold kickstand.

Three units of this product was offered it the auction. Two units were sold for RM35,000, while the first unit went for even higher: RM45,000. All proceeds will be donated to the Ministry of Education as part of Samsung’s Smart School CSR initiative.

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Pang Tun Yau

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

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Malaysia Income Tax e-Filing For YA 2019 Starts Today

Starting today 1 March 2020, you can begin filing your income tax returns forms for the year of assessment (YA) 2019. You can do so through e-Filing on the
Lembaga Hasil Dalam Negeri (LHDN) official website
.

If you’re submitting a BE income tax return form, you can also file your tax returns using your smartphone or tablet through the Mobile Filing application, m-Filing.

The deadline for filing your income tax returns in Malaysia is 15 May 2020 via e-Filing and 30 April 2019 for manual filing (for resident individuals who do not carry on business). Meanwhile, resident individuals who carry on a business have until 15 July 2020 via e-Filing and 30 June 2020 for manual filing.

If you’re wondering what
income tax reliefs you can claim for YA 2019
 or are looking for a step-by-step
guide to filing your income tax in 2020
, make sure to check our
income-tax related content
 for all your tax filing needs.

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Sticky Finger Discounts with CIMB Credit Cards

An F&B bistro that promises an experience in Thailand’s lifestyle and cuisine, Sticky Fingers is now offering a 15% discount to all CIMB credit card and debit cardholders from now till 31 December 2013. Chill out with friends and have fun tasting their Thai-inspired cocktails like Phuket Colada and Muay Thai warrior.

This offer is not valid with other on-going promotions or discounts. Please read the
Terms & Conditions
 for further details.

Thinking of getting a CIMB credit card? Have you tried searching on
RinggitPlus.com
?

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How Good Are Malaysians When It Comes To Managing Money?

All of us at RinggitPlus strongly believe that education, awareness, and knowledge is key to managing your finances well. But we had a question: how smart are Malaysians when it comes to managing money?

To find out, we developed the annual Malaysian Financial Literacy Survey in 2018. The set of questions below allow us to gain better insight on how Malaysians from various age groups and income levels manage their money, their perception and knowledge of financial products, and if they are ready for any financial shocks. The

results were shocking
, to say the least.

This year, we have partnered with Visa in developing the Malaysian Financial Literacy Survey 2019. The leading global payment technology company shares a similar goal of cultivating financial literacy and smart money habits, making this partnership a seamless fit.

Please help us in our research by completing the survey below. As a token of appreciation, we will be offering

RM30 Lazada vouchers
 to 100 survey participants who will be randomly selected after submissions are closed. Note that we will be sending these vouchers via email, so please ensure that you include a valid email address for the survey!

That’s not all. If you’ve ever wondered what is your credit score, we are offering you a

free Personal Credit Report Plus
(worth RM19.50) in partnership with RAMCI. Get your free credit report

here
.

Note: all entries are anonymous, and no data is shared with third parties in line with the Personal Data Protection Act.

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Perlindungan Tenang Voucher Programme To Include Purchase Of Motor Insurance And Flood Cover Soon

The General Insurance Association of Malaysia (PIAM) has revealed that the Perlindungan Tenang Voucher (PTV) programme may soon be expanded to also include the purchase of motor insurance and flood cover, on top of insurance products that are currently being provided.

“The PTV programme currently does not include flood cover, or motor insurance either. It is part of the plan, but it’s in the second phase. So the first phase is just looking at very basic products, which is personal accident and life, but the plan is to – probably second half of the year – extend it further,” said the board chairman of PIAM, Antony Lee during a virtual panel discussion titled “The Importance of Flood Insurance/Takaful”.

The PTV programme was
initially introduced under Budget 2021
 with the intention of making basic insurance more accessible and affordable for the B40 income group. Under this initiative, eligible individuals were able to apply and receive a voucher of RM50 to purchase Perlindungan Tenang products, namely life and personal accident insurance. During the tabling of Budget 2022, the amount was subsequently
increased to RM75
.

Lee further expressed satisfaction with the current take-up rate of the PTV vouchers among the targeted group as many eligible recipients have applied for it to purchase insurance. “We’ve already seen a lot of increase amongst the B40 who are eligible, or those who are Bantuan Prihatin Rakyat (BPR) recipients – we’ve seen a lot of take-up. So people are actually quite excited,” he said.

Aside from sharing the update, Lee also urged Malaysians to recognise the importance of getting flood protection, especially since such calamities are not out of the ordinary for those living in the country – as evidenced by the
devastating floods that had happened at the end of 2021
. “It’s just understanding the world that we live in, there’s always risk. We can always pray and hope that nothing happens, but that it’s not a very good strategy. Better to have something to help your family members, or they may have to take money out of their pockets to help you instead,” he added.

(Source:
Financial Education Network
)

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Alex Cheong Pui Yin

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Samsung Galaxy S21 Ultra Review

Each year, Samsung releases two major flagship smartphones: the Galaxy S in the first quarter, and the Galaxy Note in the third. In 2020 we saw that not even a pandemic changes this cycle, and this year, Samsung saw it fit to launch its latest Galaxy S21 series almost a full month earlier than usual.
The Galaxy S21 Ultra is the highest end of the three models in the S21 lineup. It’s not only the largest in size, it also packs the most features and additional hardware; Apple has the Pro, Samsung has the Ultra.

Design

We saw glimpses of the new S21 design months back through the usual leaks and rumours, but having seen it up close, the new Contour Cut Camera design is more than just a new design on the camera bump. There’s a certain rugged industrial design element to it that almost forces you to notice the five cutouts that houses the four (yes, four) rear camera sensors and the dedicated laser autofocus module.
The fact that the camera island is now also made of metal is an added bonus. Camera bumps across all smartphones in recent times have a full glass enclosure, and there’s an impression that the metal housing could protect the cameras better during accidental drops – which can really happen on a device this big and slippery!

The matte finish on the rear glass back (using Gorilla Glass Victus, no less) not only oozes class (especially on the Phantom Black model), but it also makes fingerprint smudges a thing of the past.
These two are the only major design enhancements between the S20 and S21 series. That may sound negative, but in all honesty these two changes are pretty big ones. Plus, given the maturity of smartphone design these days (besides the foldables), there really isn’t much room for new design elements.
One thing I was surprised about was the size of the S21 Ultra. Last year’s S20 Ultra was too heavy and bulky for my tastes, and I believe Samsung may have consumer feedback that reflected as much. As a result, the S21 is smaller in dimension, and has a marginally smaller 6.8-inch screen (it was 6.9 inches on the S20 Ultra). It is 7g heavier, but somehow as a whole, the S21 Ultra just
felt
 smaller in the hands.

User Experience

As a Galaxy S20+ owner and having used Galaxy smartphones extensively in the past, the jump to the S21 Ultra is barely felt. Over the years Samsung has made it exceptionally easy to switch to a new Galaxy device with the Smart Switch app. The entire process of migrating all my various accounts, apps, and
years
’ worth of photos was sorted in just about half an hour.

E-Wallet & Samsung Pay Users, Pay Attention!

There’s something important to note if you’re using e-wallets and Samsung Pay. You should log out of your e-wallet apps
before
 logging into the one on your new phone. Different e-wallets have different security implementations, and logging out from your old phone before logging into your new one is an overall good move. Some e-wallets have a hard cap on the number of devices you can log in to over a lifetime (some say it’s just five), but logging out of the app removes the device count.
Meanwhile, other e-wallets may immediately detect that you now have the e-wallet app logged in and active on two devices. In the worst case scenario, you could be denied access on both phones pending identity verification, or you could simply need to confirm via a security call or SMS. Either way, it’s a hassle, so it’s a good practice to log out.
Meanwhile for Samsung Pay, you absolutely must remove your saved cards from your old phone before adding them back to the new phone. Due to the security implementations of Samsung Pay, all payment information (including credit card info) is stored locally on the device and not on the cloud. So, even if you log into Samsung Pay on your new phone, it will not carry over any of your saved cards and Boost account.
Another security layer will also prevent you from adding a card that is already saved on another device. So, just like the e-wallet thing above, you need to manually remove your saved cards and unlink Boost from your current phone before adding them back in your new phone.

Coming from the S20+, I’ve also gotten used to the buttery smooth high refresh rate display. The S20 range could only do 120Hz at FHD+ resolutions despite having QHD+ screens, but the S21 Ultra now lets you enable both QHD+ resolution at 120Hz. On paper that sounds great, but in reality, the differences in resolution is imperceptible – even on a 6.8-inch screen. But, if you’ve never tried a high refresh rate display before, you should be warned that it is a life-changing experience for many, and suddenly a 60Hz display becomes inadequate.
While most of the user experience is instantly familiar to me, there are some minor software changes that were quite beneficial. For example, the leftmost home screen can now be configured to display the Google Discover page.

Samsung’s also done a great job at the notification bar shortcuts. Swiping the notification bar down the first time gives access to six configurable shortcuts for your most commonly used ones, as well as the brightness control. Swipe down a second time and you’ll see a full army of icons for settings control – you can even add more than the 30 Samsung’s already done for you.
One huge improvement can be found in the new fingerprint sensor. The second-generation ultrasonic sensor is said to be 77% larger than the previous one that was fitted on the entire S20 range, and right off the bat, I can confirm that the larger sensor isn’t just more accurate, it’s faster and more sensitive as well.

However, some power users may not be happy about the omission of the microSD card slot for the whole S21 family. With a base storage that starts at 256GB for all S21 models sold in Malaysia, most users may not need one – but the complete removal of it is quite surprising, especially on the larger Ultra model.
Speaking of which, this is also the first of what will likely be a permanent omission of the charger and earphones in the retail box. This is somewhat controversial and will affect some more than others. Personally, this omission doesn’t affect me as much as I have a 25W Super Fast Charging charger from the S20+, and I also mainly charge my phone from my PC’s dedicated fast charging port while working. That said, someone who is upgrading from a phone that’s at least two years old will find the lack of a fast charger quite infuriating. It may have been better for Samsung to either offer a charger for a minimal fee, or provide the option for buying the phone with or without a charger (again, with minimal price differences).

Galaxy S21 Ultra owners may realise they don’t need to charge their phones as often as they normally do. The massive 5,000mAh battery dropped down to 5% in the
third
 day of use – but in this MCO environment and being home most of the time, this figure is not a reliable benchmark. I’d expect actual battery life to be closer to 1.5 to a full two days when combining a mix of home, office, and daily commuting. You’d definitely be able to further stretch this by reducing the screen resolution as well as disabling the high refresh rate.

Camera

Since the Galaxy Note 5 (and especially from the Galaxy S7 onwards), I’ve always enjoyed Samsung’s smartphone cameras – they’ve been my go-to devices in the past, but in recent years competitors have outpaced Samsung. Worse, the S20 series broke my years-long trust with the frankly disappointing S20 Ultra – even my S20+’s dual-pixel sensor wasn’t as good as Samsung’s previous dual-pixel cameras.
With the S21 Ultra, I had little expectations and was more than ready to be disappointed again. Thankfully, the experience was the complete opposite.

Where do we start? First, Samsung did what it does best to fix things: by adding more hardware. The S20’s focus issues were largely fixed with the introduction of the laser autofocus unit on the Note 20 Ultra, and in my week spent using the S21 Ultra’s camera I’ve not faced any autofocus-related issues. The 108MP main sensor on the S20 Ultra and Note 20 Ultra was upgraded, further improving autofocus speeds and sharpness.
Secondly, Samsung also fixed the slightly problematic 48MP 4x zoom sensor on the S20 Ultra by replacing it with not one, but two dedicated telephoto sensors – one a 3x unit and the other a “periscope” 10x unit. It’s a similar setup to Huawei’s P40 Pro+ rear cameras (both phones pack an ultra-wide angle sensor too), and the end result is a satisfyingly flexible and highly capable smartphone camera.
The S21 Ultra’s rear cameras are excellent. It was quite a joy to not only get spectacular results on the main 108MP sensor (which should be expected on a flagship device), but the real surprise was seeing how good the 3x and 10x zoom images were. In good lighting, even the 30x zoom shots didn’t yield a blurry mess. I felt like being one of the lab guys at CSI zooming in on a number plate.

 0.6x

 1x

 3x

 10x

 30x

If you wish to zoom further, the AI-assisted Zoom Lock helps you maintain your frame when zooming from 20x onwards and kicks in either by tapping the Zoom Lock viewfinder on the screen, or simply by maintaining the frame for two seconds. It’s helpful, for sure, but honestly you probably won’t use the camera beyond 10x zoom very often, let alone going the full 100x “Space Zoom” (which to me still feels gimmicky and more of a flex than a useful feature).
At the extreme other end of the spectrum, Samsung has introduced a new feature called Focus Enhancer. It’s enabled by default and is triggered when you move the camera closer to your subject, switching from the 108MP main sensor to the ultra-wide 12MP sensor, which has such a short focal length that it can be used as a pseudo-macro lens. As a result, you can now place your phone within centimetres of your subject and get a surprisingly decent close-up shot.

In low-light conditions, the huge 108MP sensor coupled with Samsung’s improved computational photography algorithms produce solid photos in challenging lighting. Of course, you can also turn on Night Mode, which runs the risk of making nighttime shots look like it’s daytime.

 Normal

 Night Mode

Finally, the 40MP selfie camera remains unchanged from a hardware perspective, but there is one notable software addition where you can “choose” your skin tone between Natural and Bright (which also subtly softens epidermic imperfections).
Overall, it’s clear that the cameras on the S21 Ultra is the best Samsung has produced in years, and finally on par with its closest rivals. I thoroughly enjoyed the flexibility of being able to shoot across such a huge range and the confidence of knowing I’ll get a more than decent shot within the 0.6x to 10x range. I can already imagine how useful this will be when travelling, but alas…

Competition

The Galaxy S21 Ultra will retail at RM5,299 for the 12GB + 256GB variant, and RM5,899 for the range-topping 16GB + 512GB version. These are by no means affordable, and interestingly, represents a markup compared to the RM4,999 (12GB + 128GB) Galaxy S20 Ultra and even the Galaxy Note 20 Ultra (12GB + 256GB) which retails at RM5,199.
Naturally, the S21 Ultra will draw comparisons with the
iPhone 12 Pro Max
. Price wise, the S21 Ultra is definitely more affordable – the 256GB iPhone 12 Pro Max retails at RM5,799 while the 512GB variant has a RM6,699 price tag. In that regard, the S21 Ultra immediately looks like the better value phone – but if you’re fully invested in the iOS ecosystem, it’s not easy (or affordable) to switch camps.
Meanwhile, in the flagship Android realm, there are few competitors – Samsung basically launched its 2021 flagship ahead of everyone else that it’s quite unfair to compare it to the 2020 flagship range. Huawei’s P40 Pro+ and Mate 40 Pro both carry powerful hardware at slightly lower price tag – but do not have Google Mobile Services onboard. Xiaomi’s rumoured Mi 11 Pro with similar camera specs as the S21 Ultra is said to be announced next month at the earliest. Similarly, the OnePlus 8 Pro is another 2020 flagship whose successor is only just hitting the rumour mills – an April 2021 launch is on the cards.

Some may also claim the
S20 Ultra
 or the
Note 20 Ultra
 as viable alternatives now that they will most likely be available at discounted prices. It’s not. The Exynos 990 chipset on both phones are known to be disappointing, and the S20 Ultra’s camera is still a hit-and-miss affair. More importantly, the S21 Ultra’s hardware upgrades help future-proof the device to (hopefully) provide a flagship-level experience for the full 3 years of promised software updates – and make the S21 Ultra a better long-term purchase than the two previous Samsung flagships. With this logic, the S21 Ultra’s hefty price tag actually represents better value than the S20 Ultra or Note 20 Ultra.
And while we’re at it, the
pre-order
 and launch-day freebies do bring down the effective purchase price as well.

Conclusion

Ultimately, whether the S21 Ultra is worth buying depends on what you’re looking for in your next smartphone – and if you need to upgrade this year. The S21 Ultra features one of only three next-gen 5nm processors around, a fantastic camera system that can only get better with software updates, great battery life, and a cutting-edge display – the biggest and most important upgrades that make the S21 Ultra live up to the “Ultra” moniker.
If you’re in the market for a “do-it-all” phone, you can’t really go wrong with the Galaxy S21 Ultra.

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Pang Tun Yau

Pang Tun Yau

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

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Enhanced TNG Card With NFC Capabilities Spotted For Sale Online Ahead Of Possible Launch

An online merchant appears to be selling an upgraded Touch ‘n Go (TNG) card, despite the card not having been officially launched yet. Dubbed the Enhanced TNG card, details of the new offering had recently been leaked online, offering us a glimpse into the card’s ability to allow top-ups using near-field communication (NFC) technology.

The listing states that the card is an
“NFC Series 2022” TNG Card
, sold on Lazada at the price of RM19.00. In it, the seller also shared images of several pearlescent cards stated to be Enhanced TNG cards (expiring in 2029), along with screenshots of how to use the NFC top-up feature.

The card in the listing are similar to those seen in the leaked
videos
 and
dedicated support section
 of the Enhanced TNG card (both no longer viewable by public). In these sources, it was revealed that customers will need to first link the Enhanced TNG card to their TNG eWallet before they can activate and use the NFC reload function. Once you’ve linked it, you can then top up your TNG card by reloading your eWallet, and then placing the TNG card on the back of your phone (with NFC activated).

With this, TNG customers can certainly look forward to a more convenient top-up experience when reloading their TNG cards in the near future. With current TNG cards, you are still required to visit a participating store or a TNG kiosk in order to top up your cards – which definitely is a hassle by today’s standards.

To note, the arrival of the Enhanced TNG card has been a long time coming, given that TNG has already spoken about its plan to launch an NFC-enabled card several times prior to this. Back in February 2021, the company said that it hoped to
roll the new card out by the end of 2021
. This was eventually postponed to a later date, with the previous chief executive officer of TNG Digital, Ignatius Ong saying in January 2022 that the
card will be launched “in the next few weeks”
.

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Securities Commission Puts Possible Clone Entity Luno Trader On Latest Investor Alert List

The Securities Commission (SC) has updated its Investor Alert List (dated 26 November 2021) to include an entity called Luno Trader, along with several others.

According to the regulatory body, it had flagged Luno Trader as a “possible clone entity”, given that its name bears close resemblance to licenced cryptocurrency trading platform, Luno. To note, Luno is one of only
four registered recognised market operators (RMOs) in Malaysia
 that are allowed to operate a digital asset exchange (DAX), with the other three being MX Global, SINEGY Technologies, and Tokenize.

Separately, Luno has also taken to social media to alert its customers of the existence of Luno Trader. “It has come to our attention that there has been an unauthorised website (Luno Trader) impersonating us and getting Malaysians to invest through them by promising high returns. Please note that this is not Luno and this website has been added to the Investor Alert List by Securities Commission Malaysia,” it posted on its official Facebook page, reminding customers to always be alert for scams.

Our own check online revealed that the website for
Luno Trader
 is currently still live, with individuals still able to sign up for new accounts, as well as log in to existing accounts. It offers forex and contract for differences (CFD) trading services, and claims to have won various awards, including from the World Finance Magazine and Global Forex Awards 2021. It also said that it is licensed in several countries, including Australia, Cyprus, and Belize.

Aside from Luno Trader, other new names that have been included in the SC’s updated Investor Alert List are easy Markets, Intraderkor, and Aseel Islamic Finance. Meanwhile, notable entities that have also been placed in the SC’s list prior to this include
Pelham Blue Fund
,
Binance
, and
KuCoin
.

(Source:
Securities Commission
)

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

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Enjoy Easy Connectivity with Setia Warisan Tropika, Belladonna

Imagine living only 15-minute away from the airport, allowing you for comfortable travels when your wanderlust calls. Or not having to spend more than 30 minutes commuting from home to work in Putrajaya, leaving you with more quality time to spend on what matters. And the best part – at the end of the day, you get to return to a home encased by a canopy of greenery, and a house imbued with the serenity of a personal sanctuary.

If that is how you imagine an ideal life to be, take a peek at Belladonna by SP Setia, one of the townships of Setia Warisan Tropika development. Spanning a total 96.50 acres, Setia Warisan Tropika is a new master-planned township by 12-time FIABCI Property Award-winner, S P Setia.

As its maiden launch, Belladonna is currently the first development phase of the double-storey linked homes – soon opening its doors to families, young couples, and enterprising individuals seeking an idyllic home within the heart of Kota Warisan.

Belladonna – A Strategic Enclave Near To Major Highways

Located 20 minutes north of the famed Sepang F1 Circuit, Belladonna sits just off the Putrajaya – Cyberjaya Expressway and is conveniently connected to 10 other highways.

From its nook at Kota Warisan, the residential enclave makes commuting to and from Kuala Lumpur International Airport (KLIA) a breeze since the airport is a stone’s throw away with a 15-minute drive.

If your office is in Putrajaya – you only need less than 30 minutes to commute to work – allowing you more quality spent elsewhere rather than sitting in your car. But for those who are interested in buying a home in the Sepang District – know that you’ll get to enjoy the convenience of connectivity through to the Putrajaya – Cyberjaya Expressway and the Elite highway.

Meanwhile, the ERL Salak Tinggi Station is a mere 5-minute drive from the residences. In addition to stops at both airports, the ERL takes less than 30 minutes to journey to KL Sentral, where it’s easy to catch a train to the rest of Klang Valley via the LRT, KTM, and monorail lines.

All Your Essentials, At Your Doorstep

When moving to a new home, your proximity to amenities in the surrounding area is also an important aspect to consider. Houses that are close to hospitals give you peace of mind, while living near schools let you plan for your children’s schooling options. Furthermore, having shopping malls nearby make it easy to indulge in a little retail therapy or simply spend some quality time with your family.

Which is why the Belladonna residences are placed in a prime location that offers easy access to schools, supermarkets, shopping malls, and healthcare facilities all within a 5-minute to 30-minute driving distance.

To give you an overview, here are some of the amenities that you can enjoy; be it on your own, or with your family:

Distance from residence

Amenities

5-minute drive

Education institutes:

●      Sekolah Kebangsaan Kota Warisan

●      Xiamen University

Shopping Malls:

●      KIP Mall Kota Warisan

15-minute drive

Education institutes:

●      SMK Bandar Baru Salak Tinggi

●      Inti International University

Healthcare:

●      Nilai Medical Centre

●      Hospital Cyberjaya

●      Hospital Putrajaya

Shopping malls:

●      AEON MALL Nilai

●      Mitsui Outlet Park KLIA

●      Gateway@klia2

30-minute drive

Education institutes:

●      Limkokwing University

Shopping Malls:

●      DPULZE Shopping Centre

Embrace Resort-Style Living

Each home is a personal oasis that entwines tropical design with an open layout, giving homeowners the flexibility to create their own unique living spaces.

The fusion of verdant and modern themes continues throughout the gated residence with over 8 themed gardens and waterways dappled throughout the development. From the Butterfly Creek that trickles between lanes to the West Playland for little ones to play in and the tranquillity of Twin Woods Pond for evening walks, there are plenty of green parks for exploration and relaxation.

More on-site features include a single, guarded entry-point for heightened security as well as a private clubhouse for residents which houses a gym, swimming pool, cafe, and event hall for personal events.

Choose Your Home Sweet Home Between Standard or Flexi Options

Starting from RM656,000 for units with 1,907 sq. ft – 2,108 sq. ft of built-up space, the double-storey terrace strata property come in two options: Standard-build homes or Flexi homes.

Standard-build homes come with 4 bedrooms for larger families with 5 to 8 members. Meanwhile, the Flexi homes come with the option of 4 bedrooms or 3 bedrooms with a larger living room for those who enjoy a little more space when entertaining friends and family.

Whether you’re looking for a bigger home to grow your family or a personal abode with more room to match your lifestyle, Setia Warisan Tropika, Belladonna might tick all the right boxes in your checklist.

Visit the
Setia Warisan Tropika
website to discover more about Belladonna residences.

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GrabRewards Points Revision Starts Today – Here’s How It Affects You

Grab’s streamlining of its GrabRewards points system goes live today, almost three months to the day of its original announcement. The changes are significant, and isn’t just a revision to how you accumulate GrabRewards Points – but this particular revision fundamentally changes the GrabRewards ecosystem, which we’ll explain in detail in this article.

But first, a quick refresher. Back in July,
Grab announced a restructuring of its GrabRewards system
, with changes to its points earning rate, Membership Tier eligibility, new high-value redemptions, and the introduction of non-expiring points.

The table below is a great example why a revision to the points earning rate was due. Back when GrabPay was introduced, it offered different points earned per Ringgit for different Grab services. The most lucrative option was the in-store payment of GrabPay, which Platinum members would earn a whopping 20 GrabRewards Points per Ringgit spent – more than 3x what a Platinum member would earn for a GrabFood order.

This made GrabPay extremely rewarding. Grab’s general conversion rate (before and after 1 October 2019) is pegged at RM5 = 600 points, which means 1 GrabRewards Point is worth 0.83 sen. Therefore, every Ringgit spent on in-store GrabPay (RM1 = 20 points) yields 16.7 sen (0.83 x 20) worth in points – a whopping 16.7% return!

On top of that, some items on the GrabRewards catalogue may have a higher value than the 1 point = 0.83 sen rate. Thus, with the introduction of non-expiring points and high-ticket redemption options, earning points at a 20x rate would simply be unsustainable.

How much GrabRewards Points can you earn now?

Starting today, GrabRewards Points multipliers are simplified and based only on one factor: membership tier. Regardless of the service you use, you’ll earn the same 1 point for every RM1 spent, multiplied by the membership multiplier.

To soften the blow, Grab is offering a “GrabPay Year End Bonus”, which adds an additional 3x multiplier across all membership tiers. The Bonus, which runs from today till 31 December 2019, brings with it good and bad news. The good news is that Platinum members can still earn up to 9x points for some transactions, so you can still earn a theoretical cashback of 7.5%.

The bad news? This Year End Bonus does not include Grab services, including Grab rides, GrabFood orders, and GrabExpress – all will yield a maximum of 3 points per RM1 spent only. Plus, you’ll earn a maximum of 3 points per RM1 spent on
all
 payment using GrabPay from 1 January 2020, which yields a return of just 2.5%.

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Pang Tun Yau

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

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How to Know You're Having Dinner With a Secret Cheapskate

Saving money and managing your finances well is not a bad thing. Neither is being a cheapskate. In fact, it can be something to be proud of. Recently, we asked
Ringgitplus users on Facebook
 to share with us their cheap date stories and walk away with a pair of movie tickets on the house.

Some of them were tragic…

While some turned out to be fun and memorable!

Going on a cheap date can be exciting. It’s even more exciting when you notice somebody is hiding their inner cheapskate. Especially when they’re eating out at a restaurant. Here’s how to spot a secret cheapskate if you’re having dinner with one.

Paying Extra Attention to the Menu

A menu is one of the first things that a potential customer interacts with after sitting down at a restaurant. It’s the establishment’s first impression on the customer and it can tell a lot about what to expect.

A trained cheapskate will pay special attention to how the menu looks, the material used in binding the pages, the lettering, and the spelling errors (they get nervous if there aren’t any). Point out that the items don’t have “RM” or decimal points in their prices and watch these people’s eyebrows leap.

Filling up On Free Appetisers

Upon discovering that the menu items are more than the suspected cheapskate is willing to part with, they might decide to fill up on the free appetisers. If they’re available, that is.

They might even ask the server what kinds of free appetisers or free anything elses that they can expect to have. Do not be suprised if this person asks their servers to prepare the free appetisers a certain way. So long as it’s free, why not have it special, right?

Bringing Their Own Ingredients

Typically, you’re not supposed to bring your own food to a restaurant. But nobody said anything about ingredients. Expect a secret cheapskate to produce a tiny packet of dry chilli mix, a plastic thing of soy sauce, or a satchel of herbs and casually drop them into cheaper, blander tasting foods to up their flavour, DIY-style.

Other moves in this category include bringing their own teabags, their own eggs to boil, or their own lime to squeeze onto their food and drinks.

Heavy Duty WiFi and Power Outlet Use

A true cheapskate wouldn’t just use the WiFi and power outlet to charge their phone and post food pictures to instagram. They take it a step further by using the WiFi to send email, upload large files, conduct a video interview over Skype, livestream their meal, and maybe even get Waze directions to where they keep the cutleries.

The power outlet also may be similarly overused to plug in anything from a desktop computer, a portable space heater, or an electric panini press to make their own sandwiches from the free appetisers and ingredients they have hidden in their pockets.

We won’t hold it against you if you do any of these things, but even the most penny-pinching spendthrifts deserve to have a nice meal out without having to worry too much about expenses.

That’s why we think you should
try out Public Bank’s credit cards
. They currently offer 50% cashback for dining on Fridays (only until 30th of April 2016!) so you can enjoy your fancy end-of-the-week dinner in financial peace.

Do you have your own ways of saving some money when eating out? Why not share your stories with us in the comments section down below?

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    Mr Vos

    3 years ago

I expected much on the content but the article was blunt and tasteless. In a way, very cheapskate-ly written.

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Are Electric Cars in Malaysia Worth a Look?

Just today,
Tesla announced a consumer-based version electric car
, Model 3, that is supposedly more affordable than most previous models. And there is a distinct possibility that in the not so distant future, the 16th (or 17th) installment to the Fast and Furious franchise will feature nothing but electric cars.

That’s because electric cars have zero carbon emissions and work on renewable resources. However, does its hefty price tag along with other related on-going maintenance costs off-set the very idea owning one?

We pit the Nissan Leaf (approximately RM180,000) against the widely used local car model, Myvi (approximately RM49,000) to figure out if it’s actually worth spending heaps of money for the former. We’re leaving out their retail costs and are judging based on day-to-day use.

Driving Cost

According to the
Perodua website
, the average size of the Myvi fuel tank is about 40 litres. With today’s fuel prices at RM1.70 (
as at 1 April 2016
), a full tank would cost approximately RM68 and give you approximately 400 kilometers. That would work out to be a mere RM0.17 per kilometer.

On the other hand, an electric car like the Nissan Leaf would cost you RM8 to fully charge its battery – about the cost of a McValue meal. This fully charged battery will give you a distance of up to 200 kilometers. Taking the cost per kilometer into consideration, the Nissan Leaf consumes only RM0.04 per kilometer.

Based on these numbers, Vin Diesel’s grandson will probably be doing a lot more driving in Fast and Furious 16 with lower costs.

Jokes aside, the score here has to be 1-0 in favor of electric cars.

Maintenance Cost

The number one concern with electric vehicles is usually their battery life. It can run up to six years before it would require a change. Battery replacement for the Nissan Leaf according to
Green Car Reports
 costs approximately RM21,486 (USD5,500) based on current exchange rates. That works out to approximately RM3,581 a year.

While the Nissan Leaf does not require any servicing, it would cost about RM200 for a regular Myvi service for every 5,000-7,500 kilometers (depending on type of engine oil used). The car battery would also require a change every two years or so, and has a price tag of approximately RM200 depending on variation and brand of course.

It is fair to assume a person would use a car approximately 20,000 kilometers a year. Therefore, servicing a car every 5,000 kilometers (RM200 x 4) on top of a year’s worth of battery cost (RM100) would add up to about RM900 per year.

Wear and tear parts like tires, break pads, suspension and others are essential in both vehicles discussed. That said, their costs will also be left out in this equation as they would amount to about the same range.

Based on the simple breakdown of maintenance factors discussed above, the Myvi wins it by a mile.

Score card : 1-1.

Time to do the Math!

Lets take 20,000 kilometers as the denominator here and quantify the difference in cost based on the factors above.

Myvi

Petrol cost for 20,000 km:

20,000 km x RM 0.17 = RM3,400 per year

Yearly Cost:

RM3,400 + RM900

=
RM4,500

Nissan Leaf

Electric cost for 20,000 km:

20,000 km x RM0.04 = RM800 per year

Yearly Cost:

RM800 + RM3,581

=
RM4,381

*General cost to maintain both cars excludes wipers, tire change and other variables that could cost more.

Should You go Green?

Based on the simple calculation above, an electric car is slightly cheaper to maintain on year-to-year basis but in terms of initial cost to purchase, it is certainly isn’t negligible. The other factor to consider when buying an electric car is its resale value. There is no solid data to ensure if the car is going to hold any value after six to nine years of use.

If you would like to do mother nature a big favour, then of course, this is the way to go. The good news is the latest electric car launched, Tesla Model 3, looks amazing and unlike any electric car you’ve seen. It could come with a hefty price tag should it be launched in Malaysia due to taxes and conversion rates.

For those of you who prefer to stick with petrol-based vehicles, we don’t blame you because to each his own (most of us here drive these too). Do check out our
petrol credit cards
 to save yourself some money and enjoy great rewards along the way.

Would you consider investing in an electric car or stick it out with the regular internal combustion engine vehicles? Tell us in the comments below.

Image source: Image 1 from
WIRED
; Image 2 from
paultan.org
 ; Image 3 from Thinking Highways

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Gavin Pereira

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    Ahmed Sharifudden

    5 months ago

Electric car will not be completely zero carbon emissions depending on how the electricity being produced i.e. renewable, natural gas or coal. Another environmental impact that need to be consider is the process of manufacturing and later disposal of the batteries.

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Swipe Your CIMB Credit Card And Win An iPhone 5

Don’t Queue For An iPhone 5 – Let CIMB Give You Apple’s Greatest Smartphone For Free

OK Gadget fans, here’s a deal that’s not to be missed – a chance to
win an Apple iPhone 5 every time you use your CIMB credit card
.

How do you enter? Simple really:
first you’ll need a CIMB credit card
. Then all you need to do is use it.

Spend RM50 or more in a single receipt for one competition entry; spend RM50 or more on a single receipt overseas for 5 competition entries; successfully sign up for a Balance Transfer and get 10 competition entries; and if you haven’t got a UOB credit card yet, apply for one and you’ll get 20 competition entries on approval.

Oh, and if you
get a new CIMB debit card
 and spend RM50 on it, you’ll get 10 free entries to the competition too.

 Two winners daily – no SMS registration required.
Go on, sign up
.

Terms and Conditions

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ringgitplus

ringgitplus

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Flex-ibly Split Your Money For Savings And Spending In One Account While Earning Attractive Interest

Everyone has their own way of managing money. Some prefer to separate their money into two different bank accounts to control their expenses – one for spending and the other for saving, from which they would not make withdrawals. Others might be more inclined to save whatever amount that’s leftover from their spending. Regardless, we all want a simple way of organising our finances so we can focus on other things in life such as catching up with loved ones or pursuing our latest hobbies.

With this, OCBC Bank’s Flex Account helps users plan their finances easily while earning attractive interest. The distinctive feature about the Flex Account is that it gives you the ability to divide your money into a Save Pot and Spend Pot in just one account. This way, you can enforce discipline onto your spending without the hassle of transferring money out into another bank account for savings.

Read on to find out how the Flex Account can help you manage your money better.

***

If you’re looking for a way to streamline your finances, you may consider the Flex Account which allows you to split your money into a Save Pot and Spend Pot in one account while earning attractive interest at 1.80% per annum and 0.30% per annum respectively. You can open a Flex Account online via the OCBC Malaysia Mobile Banking app.

Learn more about Flex Account
here
.

*OCBC Bank (Malaysia) Berhad is a member of PIDM. Protected by PIDM with coverage of up to RM250,000 for each depositor.

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Chee Jo-Ey

Chee Jo-Ey

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Hong Leong Bank takes you to Fast & Furious London

Open a savings or current account with Hong Leong Bank and win a chance to holiday in London. The prize includes economy flights to London and a 4 night stay at a 4 star hotel in Central London, as well as a chance to experience a high speed driving experience
ala
 Fast & Furious 6 at a track near London. You will also be treated to VIP passes at the Bond Club.

To qualify, simply open a savings or current account with a minimum opening deposit of RM1000 and you will be awarded with 20 entries. For existing account holders, every RM1000 deposited within the campaign period will give you one entry. You can also score an additional entry with every RM30 swiped onto your Hong Leong Debit Card or when you switch from an ATM card to Debit Card within the campaign period.

At the end of the campaign period, all entries will be collated and 20 shortlisted accountholders will be selected. Each shortlisted customer will be called up and asked two questions. Should the shortlisted customer fail to answer the phone after 5 rings or to answer the questions, he/she will be automatically disqualified. The customer who answers both questions correctly, in the fastest time, will be declared winner. In the event of a tie, the customer with the highest Hong Leong Bank incremental balance will be declared the winner.

Winners will be notified by 30 September 2013 and until the date of notification; all accounts must be active retaining a minimum of RM300.

New account holders are also eligible for automatic
Fast & Furious
 merchandise upon account opening.

Get a
Fast & Furious 6
 T-shirt when you deposit RM5000 into a savings or current account;

2x movie tickets for the
Fast & Furious 6
 when you deposit RM5000 into a savings or current account OR spend RM500 on your debit card.

Get a
Fast & Furious

6
 pencil case when you deposit RM200 into a junior savings account.*

Merchandise gifts limited to 1 per customer. All deposits must be fresh funds and earmarked for 4 consecutive months. A penalty fee or RM30 or RM50 for each item is chargeable if funds are withdrawn in less than 4 months.

Promotion period is between now til 30 June 2013.

For full terms and conditions,
click here
.

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Diana Chai

Diana Chai

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#JimatWangBersamaHann: Berhenti Membayar Faedah Kad Kredit Dan Jimat Ribuan Ringgit

(
Baca dalam
Bahasa Inggeris di sini
.
)

Saya selalu menasihatkan keluarga serta kenalan saya untuk beralih daripada want tunai kepada kad kredit (dan/atau e-dompet) ketika berbelanja. Ini kerana anda boleh menjimatkan atau menggandakan wang sehingga ratusan ringgit (bagi kebanyakan keluarga) setiap tahun.

Kad kredit merupakan satu produk yang bagus. Walau bagaimanapun, jika anda mempunyai hutang kad kredit sedia ada yang tidak dibayar sebelum atau pada tarikh akhir bil bulanan anda, ini bermakna anda mempunyai baki pada kad anda secara konsisten dan perlu membayar faedah kad kredit dengan berterusan.

Jangan main-main dengan kadar faedah kad kredit, ya – kadar purata tahunan untuk caj faedah kad kredit adalah antara 9% – 18% setahun, atau 0.75% – 1.5% setiap bulan pada baki kad kredit anda.

Jika anda menghadapi kesulitan untuk membayar balik baki kad kredit tertunggak anda, memindahkan jumlah tersebut kepada kad kredit dengan
pelan pemindahan baki
 (
balance transfer plan
) boleh menjimatkan ratusan bahkan ribuan ringgit.

Ringkasan – Jika anda tidak boleh membayar balik pembelian besar atau baki kad kredit anda sepenuhnya sebelum atau pada tarikh pembayaran balik (statement due date), langkah yang lebih baik ialah melakukan pemindahan baki, untuk ‘membeli masa’ pada kadar faedah 0% setahun dan jimat caj faedah sehingga ratusan ringgit.

Bagaimana Pelan Pemindahan Baki Berfungsi?

Anggap pelan pemindahan baki sebagai satu kad kredit yang “membayar” baki tertunggak kad kredit yang lain, dan amaun ini akan dicaj secara ansuran pada kadar faedah yang jauh lebih rendah dan kadangkala dengan fi pendahuluan sekali sahaja yang rendah. Ini memberikan anda masa untuk membayar baki tersebut dengan kadar faedah yang lebih rendah atau tanpa faedah terakru.

Jika anda tidak mempunyai kad kredit lain (iaitu selain daripada kad kredit yang mempunyai baki yang besar tersebut), anda perlu memohon kad kredit daripada bank lain. Anda kemudiannya akan diberikan sama ada borang pemindahan baki yang berasingan, atau dikehendaki untuk mengisi bahagian “pemindahan baki” bagi permohonan kad kredit yang besar, yang akan diproses bersama atau sejurus selepas permohonan kad kredit anda.

Biasanya, anda boleh memindahkan sehingga 80% daripada had kad kredit baharu anda; jadi, jika anda mempunyai kad kredit baharu dengan had RM10,000, anda boleh momohon untuk pelan pemindahan baki RM8,000. Baki tersebut akan “dipindahkan” daripada kad “lama” anda ke kad kredit anda yang baru diluluskan, dalam masa beberapa hari bekerja. Anda perlu membayar baki tersebut sepanjang tempoh pembayaran yang dipersetujui, daripada tempoh minimum dari tiga bulan sehingga 36 bulan (selalunya, pelan 0% yang ditawarkan adalah untuk tempoh 6 atau 12 bulan).

Untuk penerangan lanjut tentang bagaimana program pemindahan baki berfungsi, anda boleh merujuk pada artikel mengenai
pemindahan baki 101
 yang telah disediakan oleh pasukan saya.

4 Peraturan Emas Pemindahan Baki

1) Jangan terlepas pembayaran balik pemindahan baki anda.

Jika anda terlepas atau tidak cukup membayar mana-mana ansuran, anda akan dikenakan faedah ke atas baki yang tinggal untuk tempoh tertunggak (dan bukan hanya satu ansuran). Selain itu, anda juga akan dikenakan fi pembayaran lewat.

2) Jangan gunakan pemindahan baki anda sebagai alasan untuk meningkatkan perbelanjaan.

Meskipun anda kini mempunyai kad kredit baharu pada kadar faedah yang rendah (atau 0%), ini tidak bermakna anda boleh menggangap anda mempunyai “wang tambahan”. Ingat, jika anda cuba menjimatkan wang menggunakan fasiliti ini, meningkatkan perbelanjaan anda akan menggagalkan tujuan tersebut.

3) Jangan mengambil masa yang lebih lama daripada yang diperlukan untuk membayar balik keseluruhan baki anda.

Dalam kalangan pengguna kad kredit yang berpengalaman tinggi, ada suatu trend untuk memohon pelan pemindahan baki dan menggunakan amaun tersebut untuk didepositkan ke dalam akaun simpanan berfaedah tinggi (
high interest savings accounts
) atau ke dalam alternatif-alternatif lain, dengan tujuan memperoleh faedah sepanjang tempoh pemindahan baki tersebut.

Tetapi, jika anda memohon pelan ini dengan tujuan membayar balik hutang kad kredit, trend ini langsung tidak relevan untuk anda. Dan lebih penting lagi, jumlah penjimatan yang anda nikmati dengan pelan pemindahan baki berbanding kadar cas faedah kad kredit jauh lebih tinggi daripada jumlah yang mungkin anda perolehi dengan trend di atas.

4) Jangan bayar jumlah bayaran minimum sahaja.

Ada segelintir pelan pemindahan baki di Malaysia yang membolehkan anda memindahkan baki ke kad lain dan hanya membayar bayaran minimum bulanan 5% daripada baki.

Namun begitu, ini amatlah tidak digalakkan bagi mereka yang menggunakan fasiliti ini untuk membayar hutang kad kredit. Ini kerana, walaupun anda boleh membayar hanya 5% daripada jumlah ansuran bulanan, baki 95% masih perlu dibayar pada bulan/ansuran terakhir pelan ini. Sebagai conoth, katakanlah anda mengambil pelan pemindahan baki sejumlah RM12,000 selama 12 bulan (bermakna ansuran bulanan adalah RM1,000). Jika anda hanya membayar jumlah minimum setiap bulan (RM50), pada bulan terakhir anda akan perlu membayar RM11,450!

Daripada pengalaman saya, kebanyakan mereka yang hanya membayar 5% ini akan seterusnya melanggar Peraturan Emas #2 di atas.

Berapa Banyak Yang Boleh Anda Jimat?

Jika anda mempunyai baki pada kad anda yang tidak dapat dibayar pada penghujung tarikh akhir penyata, maka anda berpotensi untuk menjimatkan ribuan ringgit dengan pelan pemindahan baki.

Sebagai penjelasan, berikut ialah ilustrasi ringkas bagi situasi seseorang yang perlu membuat pembelian dengan kad kredit mereka berjumlah RM12,000 tetapi hanya boleh membayar jumlah tersebut dalam tempoh 6 bulan.

Dalam jadual di bawah, saya memberikan beberapa senario pemindahan baki yang realistik, yang boleh didapati di pasaran hari ini: 0% untuk 6 bulan dengan 1.5% fi pendahuluan, 0% untuk 12 bulan dengan RM0 fi pendahuluan, dan 0% untuk 24 bulan dengan 5% fi pendahuluan.

Kad Kredit A digunakan untuk membeli perabot rumah berjumlah RM12,000
Tiada pemindahan baki
Pemindahan baki selama 6 bulan
Pemindahan baki selama 12 bulan
Pemindahan baki selama 24 bulan
Baki pada kad kredit
12,000
12,000
12,000
12,000
Bayaran balik bulanan
2,088
2,000
1,000
500
Faedah
15% setahun
0% setahun
0% setahun
0% setahun
Fi pendahuluan
0%
1.5%
0%
5%
Jumlah faedah yang dibayar pada kad kredit
RM528
RM180
RM0

RM600

Potensi penjimatan dengan pelan pemindahan baki
Tidak berkaitan
RM348
RM528
(-RM72)

Dalam contoh di atas, anda membeli barangan bernilai RM12,000 tetapi hanya boleh membayar ~RM2,000 setiap bulan, Dalam situasi tersebut, langkah yang lebih baik ialah untuk memohon program pemindahan baki yang membolehkan anda meminimumkan faedah (atau fi) sepanjang 12 bulan, dengan penjimatan yang boleh mencecah sehingga ratusan ringgit.

Contoh di atas juga menunjukkan bahawa anda membayar RM72 lebih untuk fi/faedah bagi pelan pemindahan baki 24 bulan berbanding 6 bulan tanpa pemindahan baki. Walaupun anda akhirnya membayar jumlah yang lebih sedikit, anda memanjangkan tempoh pembayaran balik sebanyak 4x – jika aliran tunai anda sesak, mengambil pelan pemindahan baki membantu mengurangkan risiko caj faedah tambahan dan/atau fi pembayaran lewat.

***

Pendek kata, terdapat banyak manfaat yang ditawarkan oleh pelan pemindahan baki. Fasiliti ini bukan sahaja boleh mengelakkan daripada membayar faedah yang tinggi, malah apabila digunakan dengan strategik, ia juga boleh menjanakan wang.

Jika anda ingin tahu bagaimana pengguna yang sudah ‘pro’ memaksimumkan manfaat yang ditawarkan oleh pelan pemindahan baki, nantikan artikel seterusnya daripada saya!

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ringgitplus

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Maybank Enables Support For DuitNow Request

Maybank announced that it has now enabled support for DuitNow Request, a feature that allows customers to send digital payment requests to collect funds from a payer, as long as the payer is also a registered DuitNow user with other participating banks of DuitNow Request.

In its announcement, Maybank shared that the feature will be available on both the Maybank2u website and the MAE by Maybank2u (MAE) app. “You can use DuitNow Request to send payment requests and easily track the money you’ve collected,” it said.

If you plan to use DuitNow Request from the Maybank2u website, simply log in to your account and head over to “Pay & Transfer”, then click on “Request”. You can then make your DuitNow Request from there; just choose your payer’s ID type that you’d like to key in and submit your request.

As for those who wish to send a DuitNow Request from the MAE app, you can do so by tapping on “Maybank2u” in your app and selecting the account that you wish to use. Tap on “Send & Request” after that, followed by “DuitNow Request”, then submit the request once you’ve keyed in the payer’s ID and your request details.

Note that each Maybank customer can only send a maximum of 20 pending DuitNow Requests at any one time, with a cap of RM10 million per request; these requests can be sent for free. At present, this is the full list of banks that have activated DuitNow Request as part of their services (remember, you can only send DuitNow Requests to accounts that are tied to participating banks):

Maybank

Standard Chartered/Standard Chartered Saadiq

Bank Islam

Bank Muamalat

Citi

HSBC/HSBC Amanah

OCBC/OCBC Al-Amin

Meanwhile, payers will be notified of any DuitNow Requests that are sent to them through email, push notification, or SMS. It is also possible for you to manually check by logging into your Maybank2u or MAE account. Once a request is received, you can decide whether you’d like to make your payment, reject, block, or even forward the request to someone else.

If you do proceed to pay a DuitNow Request, do be aware that there will be a minimal fee of RM0.50 for any transactions of RM5,000 and above. No fee is applicable for payments less than that. Additionally, there is a maximum daily limit of RM50,000 for DuitNow Request payments (shared with Interbank GIRO, DuitNow ID, and DuitNow Transfer transactions). Note as well that by default, this limit will be set at RM3,000 for you, but it can always be updated via Settings in the Maybank2u website.

If you have any enquiries regarding Maybank’s newly enabled DuitNow Request service, you can email the bank at
[email protected]
. Alternatively, you can call Maybank’s customer care hotline at 1300 88 6688.

(Sources: Maybank [
1
,
2
],
DuitNow
)

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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CIMB Clicks Users Strongly Encouraged To Change Passwords NOW

A series of security concerns about the
CIMB Clicks platform
 went viral over the weekend, which has led to CIMB denying that its platform was compromised. But if you have a CIMB Clicks account, you should change your passwords immediately.

Sometime last weekend, CIMB implemented the reCAPTCHA anti-spam service on its CIMB Clicks portal, leading to plenty of concern to users.
reCAPTCHA is a Google service
 that protects websites from spam and abuse. It appears as if the bank was protecting itself from some sort of brute force attack, which may have been triggered by
another
 feature implemented by the bank recently.

Before this, CIMB Clicks requires users to set a password that is
at most
8 characters in length – a legacy security feature that can be easily compromised by brute force attacks from hackers (some say it takes less than five minutes if the password is simple enough!) The bank removed this limitation two months ago, but it somehow led to even more security vulnerabilities, such as being able to log in with the wrong password entered or with extra characters added after the first 8 characters.

(Image: Amanz)

The reCAPTCHA implementation may have been a way to stop or delay the brute force attacks, but it appears some users have already had their accounts compromised. In response to queries from users,
CIMB’s social media team
 encouraged users to change their passwords immediately. However, its
statement to the media
 this morning was less urgent:

“CIMB Bank Berhad (“CIMB” or “the Bank”) would like to address recent social media news on the alleged insecurity of its online banking portal, CIMBClicks. Please take note that our CIMBClicks system remains secure and all customers’ transactions continue to be protected.

The bank would like to inform that it had, over the weekend, introduced a few additional measures to enhance the security of its CIMBClicks transactions.

Apart from ensuring that the system is now able to accommodate passwords longer than eight characters and up to 20 characters, we have also added the reCaptcha security measure on CIMBClicks to ensure the user is not a bot.”

This is in contrast to the
FAQ it has published on CIMB Clicks
, which was far more descriptive and attempts to ensure customers that its platform is secure. (Update: CIMB has released
an updated FAQ
 that expands the “Password Related” section to include the table above)

How to change CIMB Clicks password?

Regardless of the media statement, if you haven’t already done so, you should change your CIMB Clicks password immediately. This is the most important step to safeguard your account. To do so, you’ll need to log in to your CIMB Clicks account via desktop browsers – the option does not appear on mobile browsers or the app. Click on the Settings icon (the one that looks like a gear) at the bottom left corner, and you’ll find the option to change your password.

From there you’ll need to enter your current password as well as the new one, before getting a TAC code to confirm the change. Note that the new password requires users to use a minimum of 8 characters, a special character (such as “!”, “?” etc), at least one capital letter, and at least one number. Multiple users have confirmed that after this password change, they are no longer affected by the 8-character password issue.

(Further reading:
Amanz
,
Lowyat.NET
,
Soyacincau
)

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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.

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    jegatis

    3 years ago

why cannot put new password?

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HSBC Campaign Offers Grand Prize Worth RM100,000, Monthly Gifts, And Other Exclusive Rewards

HSBC Bank is currently running its Dream It campaign, which offers credit and debit cardholders the chance to win a grand prize of RM100,000 for a vacation or a home makeover, as well as exclusive monthly gifts such as an iPhone 14 Pro and a Samsung Galaxy Z Fold. Additionally, there are cashback rewards and shopping vouchers to be earned as well.

The promotion is actually divided into two sub-campaigns: one that lets you earn cashback rewards and shopping vouchers when you meet certain spend requirements, and another where you need to perform transactions and banking activities to accumulate entries to win the RM100,000 grand prize and monthly gifts.

Under the first sub-campaign, both debit and credit cardholders will be allowed to win cashback rewards of RM5 when they spend a minimum of RM80 on eligible expenses in a single receipt via their cards. On top of that, credit cardholders can also earn another reward in the form of Lazada or Shopee vouchers worth RM100, provided they hit a minimum monthly cumulative spend of RM1,000 on online and groceries spend.

Here are the details of the first sub-campaign:

Eligible cardholders
Rewards
Spend requirement
Maximum cap per cardholder
Total rewards allocated by HSBC per month
Credit and debit cardholders
RM5 cashback
Spend a minimum of RM80 in a single receipt
– 3 cashback rewards per month
– 10 cashback rewards in the whole campaign period
– 18,500 units for credit cardholders
– 3,200 units for debit cardholders
Only credit cardholders
RM100 Lazada/Shopee voucher
Spend a minimum monthly cumulative amount of RM1,000 on groceries and online transactions (including e-wallet topups)
– 1 voucher per campaign month
– 4 vouchers in the whole campaign period
– 800 units (month 1)
– 1,400 units (month 2, 3, and 4)

The second sub-campaign, on the other hand, will see the following prizes being put up for grabs, which both credit and debit cardholders can win by earning entries through selected transactions and banking activities:

Prizes
Details
Availability
Maximum prize that can be won by each cardholder
Grand prize
– Experiential trip worth up to RM100,000 with Holiday Tours Sdn Bhd, or
– Home makeover worth up to RM100,000 (Harvey Norman vouchers)
1x
Only 1x grand prize or monthly prize
Monthly prizes (four campaign months)
–
Month 1
: Dyson V12 Detect Slim Abs Nickle
–
Month 2
: iPhone 14 Pro
–
Month 3
: Samsung Galaxy Z Fold
–
Month 4
: iPad Pro 12.9”
– 5x
– 5x
– 5x
– 5x
Only 1x grand prize or monthly prize

Here is the full list of transactions and banking activities that will earn you entries for the second sub-campaign:

Spend criteria
Number of entries earned
Every RM100 eligible spend in a single receipt
1x
Every RM100 equivalent eligible spent in a single receipt (foreign currency)
10x
Every balance conversion plan and cash instalment plan approved
10x
Apply and activate new credit cards (primary/supplementary)
10x
Apply and perform one transaction on participating debit cards
10x

Note that eligible spend for both sub-campaigns refer to all online and e-wallet transactions, local and overseas retail transactions, as well as 0% instalment plans – unless specifically stipulated (such as in the spend requirement to win Lazada/Shopee vouchers under the first sub-campaign). Transactions such as cash advances, balance transfer instalments, as well as auto-billing payments do not qualify.

As for the fulfilment of prizes, the cashback rewards and Shopee/Lazada vouchers under the first sub-campaign will be provided to the winners within six to ten weeks after the end of the promotion period, on a first-come first-served basis.

Meanwhile, winners for the second sub-campaign will need to go through a longer process; HSBC will first shortlist its winners for the grand and monthly prizes using a randomizer programme. Once selected, the potential winners will be contacted within six to ten weeks after the end of the campaign via SMS, in which they are required to answer a question. Those who do so correctly within three days will be deemed the winner – after which HSBC will notify them of their win within two weeks.

Finally, note that all eligible cardholders will be automatically enrolled in the first sub-campaign, but if you’d like to take part in the second sub-campaign, you are required to register your participation by sending an SMS with the following details to 66300:

HSBC credit cardholders
: S1<space>last six credit card number

HSBC debit cardholders
: S2<space>last six debit card number

HSBC Everyday Global Account debit cardholders
: S3<space>last six debit card number

HSBC’s Dream It campaign is already ongoing, and will run for four months – all the way until 28 February 2022, so don’t miss out!

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Bank Negara Will Soon Introduce eKYC For Banks

(Image: The Star)

Bank Negara Malaysia is set to introduce eKYC (electronic Know Your Customer) technology for banks in the near future, to ease application and verification processes. This comes as banks and financial institutions become increasingly involved in digital and mobile banking.

eKYC is essentially a paperless security and verification technology used to confirm the identity of customers for all digital transactions. It reduces the risk for the customers and banks involved, as well as simplifies the process for customers as they will no longer have to visit the bank for certain transactions, such as opening an account or verifying an application with their MyKad.

If eKYC sounds familiar to you, it’s because this isn’t the first time eKYC is being used in Malaysia. e-wallets such as Touch ‘n Go eWallet, Boost, and GrabPay require its users to go through an eKYC process when they wish to make use of the premium versions. If you’ve ever been asked to snap photos of your MyKad and a selfie when setting up your e-wallets, that’s eKYC at work. Newer eKYC processes may even involve a video selfie for verification.

eKYC process on TNG eWallet (source: LYN Forums)

The introduction of eKYC for banks is now even more important given that Bank Negara intends to issue up to
five digital banking licences
 to qualified applicants some time this year.
Axiata Group
 has recently confirmed its interest in making a bid, among several other
potential bidders
 as well.

Prior to this, Bank Negara had issued an
exposure draft on e-KYC
 on 16 December 2019, seeking feedback from industry players regarding its implementations. The exercise, which ended on 17 February 2020, involved institutions such as banks, insurers, takaful operators, as well as money changers.

(Source:
The Edge Markets
)

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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10% Weekend Petrol Cashback Now A Permanent Feature Of Affin Bank BHPetrol Touch & Fuel Mastercard

The promotional offer of up to 10% cashback for the Affin Bank BHPetrol Touch & Fuel Mastercard has now been made a permanent feature of the card, making it one of the most attractive petrol cashback credit cards in Malaysia. The benefit was initially offered as part of a limited-time campaign in 2019, which was subsequently
renewed
 from 1 December 2019 until 31 April 2020.

To recap, the card lets you earn 2% cashback when you use it to refuel at BHPetrol stations on weekdays, and 10% on weekends. The cashback is capped at RM50 per month, and there is also no minimum monthly spend requirement that you need to fulfill.

The Affin Bank BHPetrol credit card’s excellent weekend cashback rate is one of the highest around, while the zero minimum spend requirement beats both the Standard Chartered JustOne Platinum and Citi Cash Back Visa cards in terms of flexibility to
earn cashback quickly and easily as you refuel
. Overall, the Affin Bank BHPetrol credit card is now officially one of the
best petrol cashback cards
 in the market.

Additionally, the card allows you to earn 1 AFFIN rewards point for every RM1 that you spend on retail transactions. but the low multiplier and average redemption rate does mean that this feature isn’t as rewarding as the petrol cashback benefit.

You can find out more about the
Affin Bank BHPetrol Touch & Fuel Mastercard
 card here.

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Affin Bank BHPetrol Touch & Fuel Mastercard

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

See all articles

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