Financial Management : BASIC Savings / Current Account

I have been sharing this many times.. perhaps more than 50 times. This make me to decided to write a summary about this so-called ''Products"

I am going to focus on these : BASIC Savings Account (BSA) and BASIC Current Account (BCA).

??!!! What are these? This is like NORMAL Saving Account (NSA)and NORMAL Current Account (NCA) what?
Perhaps many people are thinking of that.

Why there are such accounts available in the market? Actually this cant say is 'available' and it is a 'force' order by BNM (Bank Negara Malaysia). Frankly, banks are so-called 'Legal Loan Shark' and many customers make complaint to the banks that MANY HIDDEN CHARGES while dealing with banks. Here come the birth of BSA/ BCA.

These are my scenario/ experience with BSA/ BCA:
- After graduation, my brother (thanks to Eric Law) told me this info. I went to the bank and asked for an account type change. Well, banks not allowed that, is ok, I just canceled all my NORMAL accounts and REAPPLY for the BASIC Account. For BSA, as low as RM20 can apply a new BSA and RM500 for BCA.

- One day, I found that my ATM card was broken. I went to the bank and requested for a replacement. The banker told me that the charges was RM8 for ATM card replacement, yet, once I told her that I am BSC holder, immediately, the charges was waived~ ^^Y

- One day, I went to HLB and inform the banker that I wanna apply a BSA. The cute banker dare to questioned me reasons of doing that and bla bla bla. Promptly, I screwed her up as I knew all the benefit of BSA.

THE REASON BEHIND BANKS WON'T TELL CUSTOMERS ABOUT BSA/ BCA IS BECAUSE BANKS CANT EARN SINGLE CENT FROM THESE ACCOUNTS!


With NORMAL accounts, banks will start to do a lot of trick to 'steal' money from you~

- I have 3 BSA and 1 BCA. I have paid nothing since the accounts opening while enjoy the ATM facility~Hehe~~I did enjoy the interbank transfer at only RM0.50.

BSA and BCA are available in the market since 1 Feb 2005, you may refer to the whole article by Bank Negara Malaysia (BNM) http://www.bnm.gov.my/index.php?ch=8&pg=14&ac=964

Here is the summary of the BSA and BCA benefits.

- There is no annual ATM Card charge. (There is standard RM12 for any NORMAL account holder)
- Low interbank transfer for 2 times (RM0.50) monthly. (RM2 for NORMAL account)
- For BCA, just need to maintain as low as RM500 (my PBB account) to avoid the charges.

Again, I would like to emphasis this :

THE REASON BEHIND BANKS WON'T TELL CUSTOMERS ABOUT BSA/ BCA IS BECAUSE BANKS CANT EARN SINGLE CENT FROM THESE ACCOUNTS!

So? Don't wait and go to any banks, cancel the normal accounts and apply the basic accounts
Good luck if you still having NORMAL account.

财务管理 : 我从信用卡省到的钱~