Posted by The internet has already made a lot of services convenient for us. Banking, for example, doesn’t mean traveling and long queues anymore because it can now be done in the comfort of our homes.
Over time, banks have been working to increase their services online, especially now that going outside is such a risk. If you’re now ready to do the switch, this article will help you find the best digital banks in Malaysia.
1. CIMB Bank
CIMB Malaysia now offers digital banking services through their CIMB Clicks Mobile App (formerly CIMB EVA) for their current cardholders. This app is their portal that lets you check your account balance, view transaction history, transfer money, purchase online, and pay bills and loans.
Their app also lets you top up your credit and start investing through their e-IPO, ASNB, Travel Currency, and more. This ensures that your investment platform is safe and secured from malware or hacking.
CIMB Clicks Mobile App has FaceID & TouchID feature that lets you log in without typing your username or password which is pretty convenient when you’re paying using QR. Because this digital app is new, they feature a “Revamped’ home screen that is more user-friendly than the previous app.
In case you don’t have a CIMB account yet, you can just visit their website and apply for an account online. Also, if you are a Samsung user, CIMB has a Partner Pay Solution with them that purchases from numerous retail stores in Malaysia.
Pros
- Single home screen for easier access to key banking functions
- 15+ investment companies partners
- Partnerships with retailers for easy purchase
Cons
- Daily transaction limit for bills payment, remittance, and third party fund transfer
- Additional fees and charges for all savings accounts
- Complaints about buggy app
Customer Reviews
So far, here’s what users say about the CIMB Clicks Mobile App:
“So far so good , during top up of mobile or others , I prefer to have Company’s logo at the side of the Company’s name , so that elderly person will be more confident of their purchases.” -Jimi O.
“It’s the app I’ve been waiting for with the convenience of checking balance on iPhone. I hope that the next update shall include the ability to pay bills and transfer funds.” -Bryan Khoo
2. Maybank2u Malaysia
Maybank2u’s digital services allows you to open any account type, apply for loans and insurance plans, and perform daily banking transactions such as online payments. There are 8 accounts you can open at the comforts of your home like switching to an Islamic Account and Islamic investments.
The minimum deposit for each account is also clearly stated when you visit their site, plus you have an ‘Add to Compare’ feature that shows different benefits. It’s no different from when you visit a branch and ask the managers to explain details of the product you’re interested in.
Maybank2u App provides access to all their products and services including credit cards, viewing your ASNB Accounts, and fixed deposit placements. Loan application processes can also be done in the app and all you have to do is prepare necessary documents at home.
Using the app on your phone, cashless withdrawal is accepted from their wide network of ATMs in Malaysia. For gamers and enthusiasts, there is a reload game credit feature including Playstation, SteamWallet, and Garena Shells.
On top of all of that, they have the Maybank Payband and Samsung Pay on Gear, devices you can use for contactless payments in just a tap.
We think Maybank2u is how every digital banking should look because all their products and services, including the complex ones, can be accessed wherever you are.
Pros
- Numerous banking products and services offered
- One tap payments using their devices
- Customer service centres are available on holidays
Cons
- The app always require your password for every transaction
- Long activation process for new accounts
- User interface does not fit some devices
Customer Reviews
Here’s what a customer says about digital banking with Maybank2u:
“This the first time im using n app this notifications at google app store than i must try it and i hope this comunications can make me easy to use it n can get in your app at anytime n anywere and than in the same time you also on time than faster n good in your serviceses..That great and for the next time i make sure i will always follow n get your service.” -Norhayati Yatti Tatypjsarawak
3. Alliance Bank Malaysia
Alliance Bank offers their digital services for both personal and business categories so if you use both, this might be the bank for you! You can easily apply for an account through their site that you can access 24 hours daily.
In personal banking, you can make purchases, pay bills, and apply for loans using their mobile app and some of these come with exciting rebates and rewards. Applying for a personal loan only takes 10 minutes to get approved and you can receive the cash within 24 hours with a 3.99% interest rate.
We also find their business banking services, AllianceBizSmart, very helpful because it enables the user to manage their finances in one place. You can access all your accounts in one place and automate payments for suppliers and payrolls for employees even if you’re abroad.
Another digital banking service they offer is their Alliance Online Remittance through their AllianceOnline to send money abroad. It’s available in currencies from the Philippines, Indonesia, Myanmar, Vietnam, Bangladesh, Sri Lanka, India, Nepal, Pakistan, and Thailand.
Pros
- Offers both personal and business digital banking services
- Fast loan approval and cash disbursement
- Supports other currencies for cash remittance
Cons
- Self-service terminals like ATMs do not operate 24/7
- The mobile app can have a more extensive list of services