Apa Anda Perlu Tahu Tentang Status Muflis
- By CompareHero.my
- December 15, 2021
Ketahui apa itu muflis serta kesannya terhadap anda sekiranya diisytiharkan muflis. Kami juga kongsikan bagaimana anda boleh dapatkan pertolongan sekiranya anda rasa anda sedang menuju kearah diisytiharkan muflis.
Contents
Apa itu muflis?
Ia merupakan proses dimana penghutang (individu yang berhutang wang kepada pemiutang) diisytiharkan muflis berikutan arahan mahkhamah yang dikenali sebagai Perintah Penghukuman dari Mahkhamah Tinggi terhadap individu tersebut. Berikut adalah kriteria yang akan menyebabkan seseorang individu diisytiharkan muflis di Malaysia:
- Tidak berupaya untuk melangsaikan hutang berjumlah tidak kurang dari RM50,000.
- Tempoh masa lebih daripada 6 bulan hutang tidak dibayar.
- Individu tersabut bermastautin di Malaysia sekurang-kurangnya selama setahun.
Tahukah anda bahawa anda boleh diisytiharkan muflis tanpa pengetahuan anda? Seseorang individu boleh diisyitharkan muflis tanpa pengetahuan melalui cara berikut:
- Dokumen undang-undang dihantar ke alamat lama.
- Pengisytiharan muflis diserahkan melalui prosedur penyampaian ganti.
- Individu tersebut tidak hadir ke mahkhamah.
- Individu tersebut tidak menerima atau tidak membuka dokumen undang-undang yang telah dihantar kepadanya.
Prosedur penyampaian ganti bermaksud pengisytiharan muflis telah diserahan melalu iklan di surat khabar atau melalui papan kenyataan di mahkamah. Dalam situasi seperti ini, individu yang telah diisytiharkan muflis mungkin tidak akan mengetahui prosiding muflis telah difailkan terhadapnya. Prosedur penyampaian ganti akan berlaku sekiranya individu tersabut tidak dapat dikesan. Anda boleh menjalankan pemeriksaan muflis untuk periksa status anda di ibupejabat Jabatan Insolvensi Malaysia Putrajaya dan akan dikenakan yuran sebanyak RM10
Seseorang individu boleh diisytiharkan muflis melalui dua cara:
- Petisyen Pemiutang : cara ini bermaksud petisyen muflis akan dikemukakan oleh pemiutang terhadap penghutang terhadap hutang yang melebihi RM50,000.
- Petisyen Penghutang : seseorang individu boleh secara sukarela mengisytiharkan dirinya muflis untuk melindungi dirinya daripada tuntutan pemiutang yang dia tidak mampu untuk jelaskan. Tiada jumlah minima untuk mengisytiharkan diri sendiri sebagai muflis. Setelah petisyen dikemukakan, petisyen tidak boleh ditarik balik tanpa kebenaran mahkhamah.
Ingat bahawa pengisytiharan muflis adalah sesuatu yang serius dan seharusnya dijadikan jalan terakhir untuk individu yang sedang melalui masalah kewangan. Ketahui apa akan terjadi setelah seseorang individu diisytiharkan muflis dibawah.
Apa akan terjadi setelah seseorang diisytiharkan muflis?
Diisytiharkan muflis bermaksud individu tersebut akan dikenakan berbagai halangan. Berikut adalah apa yang akan terjadi setelah individu telah diisytiharkan muflis:
1. Dibawah pengawasan Ketua Pengarah Insolvensi
Setelah diisytiharkan muflis, individu tersebut akan berada dibawah pengawasan Ketua Pengarah Insolvensi (KPI). KPI akan mentadbir semua asset individu tersebut dan mengendalikannya untuk membayar hutang. Jadi setelah muflis, kesemua aset individu akan diletakkan dibawahan pengendalian KPI.
2. Had perjalanan
Individu yang muflis tidak dibenarkan untuk keluar negara tanpa kebenaran bertulis dari KPI atau sebelum mendapatkan perintah mahkhamah yang membenarkannya keluar dari negara.
3. Kredit terhad
Akaun bank yang sedia ada akan dinyahaktifkan dan individu muflis dilarang daripada melakukan sebarang pengeluaran wang daripada akaun bank yang sedia ada. Selain daripada itu, individu muflis juga tidak dibenarkan untuk membelanjakan lebih dari RM1,000 menggunakan kad kredit atau dapatkan kredit lebih dari RM1,000 dari mana-mana pemiutang.
4. Semua aset dirampas
Selepas diisytihar muflis, kesemua aset milik individu muflis akan dikendalikan oleh KPI. Jadi sebagai contoh, rumah dan kereta milik individu muflis tersebut akan diambil dan diuruskan oleh KPI untk digunakan untuk membayar hutang.
5. Had pekerjaan
Individu muflis tidak dibenarkan bekerja dalam profesion tertentu yang mempunyai sekatan yang dikenakan oleh persatuan professional atau pihak berkuasa. Contoh pekerjaan yang individu muflis tidak boleh bekerja adalah:
- Peguam
- Juru Ukur
- Akauntan
- Doktor
Selain daripada itu, individu muflis juga tidak boleh dilantik sebagai pengarah syarikat. Individu muflis tidak boleh memiliki perniagaan atau menjadi sebahagian daripada pemilik perniagaan. Jadi setelah muflis, individu tersebut tidak boleh melakukan sebarang perniagaan.
Undang-undang muflis terkini di Malaysia
Berikutan cadangan perubahan untuk akta muflis yang telah dibangkitkan pada 2016, perubahan kepada akta muflis kini telah berkuatkuasa sejak 6 Oktober 2017. Dibawah merupakan perubahan pada undang-undang muflis di Malaysia yang perlu anda ketahui.
1. Had minimum muflis dinaikkan
Sebelum ini seseorang individu boleh diisytiharkan muflis jka mempunyai hutang sebanyak RM30,000 atau lebih. Namun, jumlah tersebut telah ditingkatkan kepada RM50,000 bermaksud jika seseorang mempunyai hutang sebanyak tersebut atau lebih sahaja boleh diisytiharkan muflis.
2. Pelepasan automatik
Sebelum ini juga inidividu yang telah diisytiharkan muflis hanya boleh mendapat pelepasan daripada status tersebut setelah melakukan rayuan di Mahkhamah atau setelah diberikan sijil pelepasan dari Ketua Pengarah Insolvensi. Selain itu, pelepasan hanya boleh dipertimbangkan selepas 5 tahun dari tarikh individu tersebut digelar muflis.
Namun kini dibawah perubahan yang telah berkuatkuasa, pelepasan automatik kini diperkenalkan. Ini bermakna individu yang muflis boleh mendapat pelepasan automatic selepas 3 tahun dari tarikh penyerahan penyata hal ehwalnya.
“Penguatkuasaan undang-undang kebankrapan yang baru dipinda bermula tahun ini. Jika mereka memenuhi kriteria kami, peminjam yang layak akan secara automatik dilepaskan daripada status bankrap tiga tahun dari tarikh pemfailan Penyata Hal Ehwal” –Datuk Abdul Rahman Putra Taha, Ketua Pengarah, Jabatan Insolvensi Malaysia
Bagaimana ia berfungsi ialah, selepas 3 tahun dari tarikh penyerahan kebankrapan, seseorang yang muflis akan secara automatik dilepaskan dengan syarat bahawa penghutang:
- telah mencapai sasaran untuk sumbangan hutang mereka
- mengisytiharkan liabiliti mereka kepada Jabatan Insolvensi Malaysia
Selain daripada itu, mulai sekarang pemiutang tidak boleh membantah pelepasan dari status muflis bagi beberapa jenis status muflis seperti yang berikut:
- penjamin sosial
- individu muflis yang mempunyai kecacatan seperti yang tertera di Akta Orang Kurang Upaya 2008
- individu muflis yang telah meninggal
- individu muflis yang mempunyai penyakit kronik
3. Elak menjadi muflis melalui perkiraan sukarela
Dibawah pindaan undang-undang muflis tersebut juga memberikan individu yang bakal digelar muflis peluang untuk menyelesaikan hutangnya tanpa prosiding muflis diteruskan dibawah perkiraan sukarela di bawah Akta Insolvensi 1967.
“Selagi mereka memenuhi pembayaran dalam tempoh itu, kami akan melepaskan nama mereka” – Datuk Abdul Rahman Putra Taha
Dengan adanya perkiraan sukarela ini, penghutang boleh berunding untuk menyusun semula pembayaran hutang mereka untuk mengelakkan digelarkan muflis. Namun penhutang perlu mematuhi jumlah bayaran yang telah dipersetujui antara pemiutang dan mereka juga perlu memfailkan penyata slip gaji dan perbelanjaan mereka setiap enam bulan sepanjang tempoh tiga tahun.
4. Pengecualian Penjamin Sosial dari Prosiding Kebankrapan
Malangnya antara sebab rakyat Malaysia digelarkan muflis ialah mereka telah menjadi penjamin. Namun dengan perubahan terbaru ini situasi tersebut tidak akan berlaku lagi. Ini kerana pemiutang tidak boleh memulakan apa-apa tindakan muflis terhadap penjamin sosial seperti:
- penjamin untuk pinjaman, biasiswa atau geran untuk pelajaran
- penjamin untuk pinjaman transaksi sewa beli kenderaan untuk kegunaan bukan perniagaan
- penjamin untuk pinjaman urus niaga pinjaman perumahan untuk kediaman peribadi
Apakah sebab utama rakyat Malaysia diisytihar muflis?
Kebanyakan rakyat Malaysia yang diisytiharkan muflis merupakan dalam lingkungan umur 35-44 tahun (35.25%), sementara 25-34 tahun adalah yang kedua terbanyak (22.52%). Majoriti kes muflis di Malaysia disebabkan oleh pinjaman kenderaan, ini oleh kerana tunggakan hutang pinjaman kenderaan yang tidak dijelaskan. Selain daripada itu, sebab lain rakyat Malaysia diisytiharkan muflis ialah daripada tunggakan hutang perumahan, hutang peribadi dan hutang perniagaan.
Individu juga boleh diisytiharkan muflis sekiranya dia menjadi penjamin kepada orang lain. Pihak bank akan menuntut hutang daripadda penghutang terlebih dahulu, namun sekiranya penghutang tidak boleh melangsaikan hutang tersebut pihak bank akan menuntut dari individu yang bertindak menjadi penjamin kepada penghutang.
Dimana untuk dapatkan pertolongan sekiranya anda risau akan diisytiharkan muflis?
Menjadi individu yang telah diisytihar muflis sangat menyusahkan dan ia akan mengambil masa yang lama untuk pulihkan kewangan anda serta keluarkan diri anda dari senarai muflis. Jika anda rasa anda sedang kearah bakal diisyitharkan muflis, ikuti tips dibawah untuk mengetahui bagaimana anda boleh dapatkan pertolongan dan pulihkan keadaan kewangan anda.
1. Dapatkan pertolongan professional percuma
Jika anda berhadapan masalah dalam mengendalikan hutang dan melangsaikan pinjaman, anda boleh dapatkan pertolongan dari Agensi Kaunseling dan Pengurusan Kredit (AKPK). AKPK telah ditubuhkan oleh Bank Negara Malaysia untuk menawarkan perkhidmatan secara percuma.
Perkhidmatan yang ditawarkan adalah khidmat kaunseling kewangan dan nasihat, program pengurusan hutang dan juga program pendidikan ilmu kewangan.
2. Bincang dengan pihak pemiutang
Sekiranya anda menghadapi masalah dalam melakukan pembayaran pinjaman, berunding bersama pihah bank anda. Kebanyakan bank bersikap terbuka kepada perundingan dan untuk merunding semula syarat pinjaman. Ini kerana pihak bank juga ingin mengurangkan kecenderungan berlakunya kes pinjaman yang tidak berbayar (non-performing loan).
Jadi apa kata anda berbincang dengan pihak bank dan rumuskan aliran pembayaran balik yang anda mampu dan yang juga dipersetujui pihak bank. Sekiranya anda berhadapan masalah semasa berunding bersama pihak bank anda boleh ke AKPK kerana mereka boleh menjadi pihak tengah melalui program pengurusan hutang yang dikendalikan.
3. Nilai semula aset serta komitmen kewangan anda
Selain daripada mengurangkan perbelanjaan anda, anda patut pertimbangkan untuk menggunakan simpanan anda untuk melangsaikan hutang atau pinjaman. Anda juga patut mempertimbangkan untuk keluarkan wang daripada pelaburan sekiranya ada untuk kurangkan hutang dan pinjaman yang sedia ada kerana ini akan membantu untuk mengelak anda diisytihar muflis.
Jika anda mempunyai berbagai aset, jual aset tersebut dan gunakan wang untuk jelaskan hutang dan pinjaman anda. Lebih baik anda gunakan aset untuk jelaskan hutang daripada diisytiharkan muflis kemudian semua aset anda diambil.
Akhir sekali, ingat bahawa jumlah bayaran balik untuk semua komitmen kewangan anda tidak sepatutnya lebih daripada 40% gaji bersih anda. Sebelum anda mengambil pinjaman atau berhutang, jangan gopoh kerana anda patut pastikan mendapatkan pinjaman pada kadar faedah terendah.
Lihat juga: Bagaimana bank menjana keuntungan dengan kad kredit
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Ultimate Guide To E-Wallets In Malaysia 2022 – Which Should You Get?
- By CompareHero.my
- December 14, 2021
E-wallets are one of the fastest growing payment trends in Malaysia. You can find many mobile wallets available such as Touch ‘n Go eWallet, GrabPay, Boost, Maybank E-Wallet (MAE), and more, but which one is the best? Read this guide and find out the perks of each e-wallet.
E-wallets have been mushrooming in Malaysia over the last few years, with new platforms surfacing every now and then. To date, there are a total of 53 e-wallets in the country, with the industry occupying 19% of Malaysia’s fintech space, according to a 2019 report by Fintech Malaysia (Fintechnews.my).
This upward trend doesn’t seem to be slowing down anytime soon, especially as the accelerated growth of e-wallets in the country is in line with the central bank’s aim to transform Malaysia into a cashless society by 2020. Bank Negara Malaysia (BNM) even established a blueprint emphasizing their aim to increase the number of per capita e-payment transactions from 44 to 200 transactions.
The industry will only continue to flourish as demands rise, particularly after the government announced an allocation of RM750 million last year to promote the adoption of e-wallets in Malaysia as part of a series of economic stimulus under the PENJANA recovery plan to revitalise the economy crippled by the COVID-19 pandemic.
Contents
- What is an e-wallet?
- Types of e-wallets
- How to use e-wallets
- How do e-wallets work?
- What are the benefits of e-wallets?
- What e-wallet benefits can you get during this COVID-19 period?
- List of e-wallets in Malaysia
- E-wallet comparison in Malaysia
- How To Choose Which E-Wallet To Use?
- E-wallet Vs Credit Card Vs Debit Card – What’s The Difference?
- Malaysia’s growing e-wallet landscape
- Cashless payment is the way forward, and e-wallets are at the forefront
What is an e-wallet?
An e-wallet is the digital equivalent of a real wallet, with the exception that money is digital and it functions as an app on a smartphone. Similar to regular wallets, e-wallets will need funds to function and perform transactions. This can be done by filling up the wallet with cash via credit cards, debit cards and online bank transfer.
E-wallets can be used to pay for services or goods at participating merchants, or to transfer money to other fellow e-wallet users.
Types of e-wallets
The transfer of money can be done either by scanning a QR code or through the card’s NFC technology.
Termed near-field communication, NFC basically allows phones, tablets or laptops to share data with other NFC-equipped devices. Sounds familiar? Well, NFC evolved from RFID (radio-frequency identification) technology, the innovation that allowed us to scan our office cards into offices.
How to use e-wallets
All you gotta do is place your smartphone within four inches of another NFC device, and it will automatically signal your digital wallet to pop up and confirm a payment. Unlike bluetooth, NFC doesn’t require manual pairing or device discovery to transfer data.
Some other e-wallets will allow transactions via an accompanying physical or prepaid card.
How do e-wallets work?
Without understanding the different processes of e-wallets, some may be skeptical about the safety and security of e-wallets. But the flow chart from eWhallet below perfectly explains why e-wallets are secured platforms.
1. Getting your identity right
The first crucial step: users will be asked to provide personal details to verify their identity. It’s usually done by requesting users to submit a front and back photo of their IC/Passport and a clear selfie.
2. Fill up the e-wallets
Funds will not automatically be deducted from the wallet, unless requested to. To get started, users will need to deposit funds into their e-wallet via a credit card, debit card or through online banking.
3. Where does the money go? Into a licensed trust account!
The funds won’t disappear into thin air, relax. All funds will be deposited into a trust account from a licensed financial institution as required by Bank Negara.
4. Lastly, scan or transfer the kaching
Users will scan a QR code presented by the merchant or vice versa to confirm and complete the transaction, or send money via phone number.
What are the benefits of e-wallets?
What are the appeals of a cashless society? Here are some noteworthy perks to using e-wallets:
1. Reducing theft and fraud
When transactions are made online, it’s possible to reduce theft usually associated with physical cash. It could also be easier for the government to regulate a system, minus fake money and one where all transactions are recorded in a single database.
On top of that, data stored in mobile wallets are encrypted, meaning the actual card account numbers are not transmitted during a payment. The use of payment codes like single-use QR codes are enhanced with security features to make it more secure.
2. For the love of convenience
Using e-wallets saves you time. With a few clicks, you can make a transaction in just a few minutes. It saves the hassle of typing out bank account numbers for online transfers or counting bill changes physically.
3. More mindful of expenditures
E-wallets lets you track real-time spending data. Relying on monthly statements that are usually generated near the end of the month means we might tend to slack off when it comes to tracking out spending. This is a great alternative and a practical solution to improve one’s financial literacy.
4. It’s safer to go contactless
As part of the new normal of living alongside the COVID-19 virus (with no vaccine in sight yet) it’s best to be extra cautious on how we carry out our usual day-to-day activities. Contactless and cashless payment is an alternative for those who prefer to keep a distance from the rest.
5. There are plenty of rewards and cashback
E-wallets also offer rewards and cashback to incentivize users. In fact, it’s easier to spend and track the rewards you garner with an e-wallet.
What e-wallet benefits can you get during this COVID-19 period?
To encourage a safe, contact-free payment experience via e-wallets, and to boost consumer spending, the government has allocated a total of RM750 million to promote the e-wallet industry aimed at benefiting 15 million Malaysians.
Previously, you could get RM50 e-wallet credit just by downloading the MySejahtera app.
9 steps to register for the MySejahtera app
Step 1: Download and install MySejahtera from either the Gallery of Malaysian Government Mobile Applications (GAMMA), Apple AppStore, Google Play Store or Huawei AppGallery
Step 2: Click on “Register Here” to register a new account
Step 3: Enter your mobile phone number and click “Register” or click on the link “I would like to use Email to Register” (if you want to register using email address)
Step 4: You will receive an OTP via SMS from 63839 (if you register using phone number) or confirmation link through your email (if you register using email address)
Step 5: Enter the OTP and click ‘Send’ (if you register using phone number) or click on the confirmation link sent to your email (if you register using email address)
Step 6: Fill in your registration details and click ‘Confirm’
Step 7: You will receive a “Successful Registration” message. Click “Close” at the bottom of the screen to return to the sign-in screen
Step 8: Enter your User ID (phone number or email address) and your password and click “Sign in”.
Step 9: Congratulations! You may start using the app.
However, this is no longer available at the time of writing.
List of e-wallets in Malaysia
To date, 53 e-money issuers have been listed, including 47 non-bank e-money licenses, on BNM’s website under the e-money issuers category. That’s a lot of options to choose from so it’s not surprising that one can get easily overwhelmed when it comes to deciding which e-wallet is the best in Malaysia.
E-wallet comparison in Malaysia
| E-Wallet | Backed by | Why it’s worth it | Notable merchants |
| Boost | Axiata Group |
|
Giant, Watsons, Tealive, Lotus’s, KK SUPER MART |
| GrabPay | Grab |
|
Legoland, Jaya Grocer, KFC, Lotus’s, Family Mart, Boost (juice bar) |
| Touch ‘n Go eWallet | Alipay and Touch ‘n Go |
|
Giant, Mydin, Lotus’s, Watsons, Lazo Diamond, Converse |
| Wechat Pay | Tencent Group |
|
KK SUPER MART |
| MAE | Maybank |
|
AEON, AEON BiG, Jaya Grocer, Krispy Kreme, TGV Cinemas, San Francisco Coffee, Mydin, Chatime, Watsons, McDonald’s |
| BigPay | 70% AirAsia |
|
Accepted at over 40 million merchants worldwide that accept Mastercards, except in North Korea and Israel |
Boost
Boost is owned by Axiata Group. (Source: Boost)
The award-winning lifestyle e-wallet is one of the more notable players in the country, partnering with 17 banks such as Maybank, CIMB, RHB Bank, Public Bank, Hong Leong Bank and many more.
Launched in 2017, it’s home to 7 million Boosties and growing. The service is widely accepted at over 140,000 touchpoints covering both online and physical stores in Malaysia. Boost users also get to make payments at any merchants accepting UnionPay cards. Their signature Shake Rewards gives away up to 8x more coins, cashback, prizes and Golden Tickets.
In May 2020, Samsung Pay integrated with Boost e-wallet to create a more seamless and secure cashless payment experience. The e-wallet platform also partnered with Shell stations allowing users to pay for petrol at 800 Shell stations around the country. Users can spend a minimum of RM40 with Boost at any participating Shell station, and get RM5 in cashback.
The app also offers parking payment solutions, allowing users to pay for parking at Dewan Bandaraya Kuala Lumpur’s (DBKL) car parks in Kuala Lumpur, as well as bill payment options for Astro, Syabas and Telekom, among others. For a full list, check here.
To date, about 60% of merchants on-board the platform consist of small and micro-businesses such as ‘nasi lemak’ sellers, ‘pasar malam’ vendors and food truck operators, according to Boost.
Its latest feature called the Boost Partner Wallet, lets you earn cashback from participating partners and allows you to use that cashback on your next transaction at those participating partners.
GrabPay
Grab was founded by Malaysians Anthony Tan and Tan Hooi Ling. (Source: Grab)
Thanks to its Grab Platform ecosystem, GrabPay gives you the ease of using their e-wallet when ordering food, shopping for items and groceries, paying for rides and transferring GrabPay credits. Click here for a full list of their merchants. Each GrabPay transaction lets you earn points to redeem attractive deals.
It also lets you top-up your mobile phone credits directly on your Grab app. This service is available across leading telcos in Malaysia including Celcom, Digi, Maxis, U Mobile and TuneTalk. GrabPay has a partnership with Maybank to allow for cross platform use with merchants that accept Maybank Pay.
Although GrabPay is now widely available across Southeast Asia, it’s not able to convert credits to local currencies as of yet.
Touch ‘n Go eWallet
Screencap of Touch ‘n Go eWallet’s interface. (Source: Touch ‘n Go)
Touch ‘n Go eWallet offers a more sizable e-wallet that lets users send RM5,000 per month to peers and over 150,000 merchants nationwide. All users have to do is simply reload with cash, debit/credit card and bank transfer.
Unlike other e-wallet services, you get to use Touch ‘n Go eWallet to pay tolls at participating highways across Malaysia. This is made possible by the PayDirect and RFID features. For PayDirect, one would still need to scan their physical Touch ‘n Go card when at the toll, but money will be deducted from the e-wallet. For RFID, scanning is made through the RFID sticker located on one’s vehicle headlamp or windscreen, only then will the transaction be made from the user’s Touch ‘n Go eWallet. These features are intended to reduce traffic congestion, and make the process of paying tolls more seamless and efficient.
However, it drew widespread criticism from netizens when all the Touch ‘n Go reload services at Plus highway toll exits nationwide were halted on November 5 last year. The complaints were mainly on the inefficiency of the e-wallet because it’s not applicable across all tolls. However, If you do need to reload, you can find out where at more than 11,000 reload points located in Malaysia here.
Despite this, Plus Malaysia Bhd says they don’t plan to reopen any lanes for Touch ‘n Go reloading despite complaints from road users. First implemented in August 2019, the initiative had reportedly reduced traffic congestion in the central region by 48.2%, because drivers had to ensure that their cards had sufficient balance before entering the highway.
Afraid of scams? Their Money-back Guarantee policy promises full compensation within five days if your e-wallet is being charged with unauthorised purchases or reload.
Touch ‘n Go eWallet can also be extensively enjoyed to purchase items on the Apple Store and iTunes, pay street parking, taxi rides, food delivery services, as well as for booking bus tickets online via BusOnlineTicket.com or as a payment method for purchasing KLIA Express and KLIA Transit tickets; however the cashless payment option will be offered over the counter, rather than at the gate.
MAE (Maybank)
One of the more popular bank-owned e-wallets. (Source: Maybank)
A short form for ‘Maybank Anytime, Everywhere,’, the MAE e-wallet is open to non-Maybank customers as well. Upon registration, users will get a Maybank account number and a virtual debit card.
Due to the valid Maybank account number that comes with the e-wallet, you can also receive money through traditional methods including instant online bank transfers and cash deposit machines. There’s no need to download a new app because the MAE app is integrated right in the Maybank2U app.
MAE allows you to transfer cash to your friends, split and pay bills or pay via QR code at over 200,000 QRPay merchants, as well as book movie tickets and flight tickets. MAE has a maximum wallet size of RM4,999.99 and a limit of RM2,999.99 per transaction.
WeChat Pay
For WeChat Pay users, the cumulative daily payment and withdrawal limit on an Android mobile phone is RM1,000, as per Bank Negara Malaysia’s security guidelines. (Source: WeChat Pay MY)
One of the most popular instant messaging services in China, its financial offshoot landed on local soil in 2019 making Malaysia the first foreign country outside of China to have WeChat Pay enabled in a local currency.
Like most other apps, it allows you to make payments easily and quickly. All you have to do is flash the generated QR code to the participating merchant. Their merchant list includes AmBank, Hong Leong Bank, iPay88, MOL and Revenue Monster. KK SUPER MART is the first chain store in Malaysia to accept WeChat Pay MY.
To top up your e-wallet, just attach any number of Mastercard or Visa debit cards issued by local banks to the platform. The platform also allows you to transfer money to friends and family via their Money Packet feature as well as pay prepaid plans for telco brands like Altel, Celcom, Digi, Friendi, Maxis, Merchantrade, Tune Talk, U Mobile and XOX.
Related: WeChat Pay: Another e-Wallet in Malaysia?
One unique feature of this wallet is that you can purchase bus and airline tickets directly from the app, even going as far as selecting seats through a third-party bus and airline ticket service provider.
The withdrawal limits are set at RM10,000 per calendar month, and RM4,500 per wallet account and per bank account.
BigPay
Unlike its competitors, BigPay’s e-wallet works in tandem with a physical Mastercard prepaid card. In this instance, it doesn’t really eliminate the physical card.
The benefit of this credit card-like feature is that you can still make payments at locations that don’t accept e-wallets by using your BigPay card. But since it’s a prepaid card, you won’t be able to pay for an item that costs more than the balance in your e-wallet.
The app pretty much functions like other e-wallets: you can top-up your card and check on transactions. Besides that, you also get to make online purchases and withdraw funds from ATMs.
The card is accepted at over 40 million merchants worldwide except for North Korea and Israel.
The card will benefit users of AirAsia’s Big Loyalty Programme the most. The airline company’s founder Tony Fernandes believes the service will be worth more than his airline in the future.
Take note
This is not the definitive list of e-wallets in Malaysia, but a guide on the top and most-widely used e-wallets in the country.
How To Choose Which E-Wallet To Use?
Choosing which e-wallet to use in Malaysia all goes down to the penetration rates, types of merchants, promotions and benefits. But don’t feel pressured to stick to one type of e-wallet. Mix and match to see which suits your needs and wants the best.
Here we give a rundown on some of the top e-wallets in Malaysia so you can decide which offers the most seamless and rewarding experience.
E-wallet Vs Credit Card Vs Debit Card – What’s The Difference?
Cashless payment is currently experiencing a renaissance period of sorts, with a vast number of options to choose from: credit cards, debit cards, gift cards, e-wallets and the list goes on. So it may get slightly confusing when a new technology hits the market.
We break down the difference between credit cards, debit cards and e-wallets in this section:
Credit Cards
A credit card allows you to pay a merchant for goods and services via borrowed money from a bank. At the end of every month, you’ll need to pay the bank at least a partial amount of the money spent.
Debit Cards
Instead of borrowing money, transactions made from a debit card will be directly withdrawn from your bank account.
E-Wallets
To spend on e-wallets, you’ll need to add money into your digital wallet first, either through direct transfer from your bank account or via a credit/debit card.
Though some of their functions may interweave, the three operate differently.
Malaysia’s growing e-wallet landscape
The fintech industry is rapidly becoming a central figure in the average Malaysian’s life as well as a fundamental part of the country’s financial sector, according to a new analysis by the International Monetary Fund.
With its growing middle class, high mobile phone and internet penetration rates and strong government support for the digital economy, Malaysia is well positioned to not only take advantage of fintech innovation but also thrive in this segment of industry.
Screencap from the 2019 report by Fintech Malaysia (Source: Fintechnews.my)
Besides mobile wallets, Malaysian businesses and consumers are also readily embracing new technology such as electronic payments, crowdfunding and “insurtech” (the combination of insurance and technology).
According to the IMF, internet banking in Malaysia has quadrupled in the last decade, topping a 90% usage rate in 2018. It’s little wonder that Malaysia ranked first among countries in emerging and developing Asia, out of the 139 countries surveyed as part of the World Economic Forum’s 2019 Network Readiness Index.
A pie chart from Fintech Malaysia shows that e-wallets make up almost 19% of the Malaysian fintech industry. (Source: Fintechnews.my)
By the way, the RMCO ePenjana incentive isn’t the first e-wallet initiative to be introduced, as back in January 2020, the previous administration had also set aside RM450 million to encourage the adoption of e-wallets in Malaysia. Called e-Tunai, Malaysians would get a one-time RM30 credit that is available via three e-wallet platforms: Boost, GrabPay and TNG Digital. Don’t try to claim though, as this initiative has expired.
Both e-wallet initiatives from both administrations cost a total of RM1.2 billion, underscoring the significance of the e-wallet industry as a prioritized segment of the economy in Malaysia.
Cashless payment is the way forward, and e-wallets are at the forefront
The COVID-19 pandemic has devastated the country’s economy, but has also presented opportunities and circumstances for certain industries to grow and thrive. One such industry is the e-wallet industry, particularly as the need for contactless payment arises.
Even without COVID-19, Malaysia’s e-wallet market was already poised for strong growth in part due to the region’s favourable demographics and because of the government’s numerous initiatives to push towards a cashless society.
All in all, we predict that the industry will only continue to grow from here and that’s good news for consumers, who now have a wider selection of e-wallets to choose from.
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Travelling Overseas During Covid-19? Here’s What You Need To Prepare
- By CompareHero.my
- December 13, 2021
While Malaysia’s borders remain closed (at the time of writing), travellers from here are allowed to head overseas. There are several countries that have opened their borders for tourism, and you can check out some of them here:
Related: 10 Countries Tourists From Malaysia Can Now Visit Without Having To Quarantine
In this article, we’ll cover some of the things that you should have ready before making your voyage. Bear in mind that each country will have their own rules, so not all of them will require what’s listed below. But you can use this as a general guide for what to prepare for your trip.
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1. Proof of vaccination
Most countries that are open for tourism once more require travellers to be fully vaccinated against Covid-19. Those who aren’t might either be barred from entering the country altogether, or they might need to serve a mandatory quarantine—something those who are inoculated might be able to skip.
But being vaccinated alone isn’t enough; the vaccine that you’ve taken must also be recognized in your destination country. For example, months ago, many countries such as the UK did not accept Sinovac—a vaccine given to a large number of people in Malaysia. And while more countries recognize Sinovac now, there are still some that don’t.
There are also vaccines that aren’t accepted because of where they are manufactured or distributed. One instance would be Covishield, an Indian version of Oxford-AstraZeneca that is not recognized in Malaysia even though AstraZeneca itself is.
Once you’ve confirmed that your vaccine is accepted, make sure to bring along your vaccination certificate with you. This can come in the form of a physical copy or e-certificate in your phone. Check if the destination country also requires you to upload this certificate prior to arrival.
2. PCR/RTK tests
While there may be some countries who will allow unvaccinated travellers in as long as they’re willing to undergo a quarantine, almost all of them will require you to get tested for Covid-19. If you travel to the Maldives for example, you will need to get tested 96 hours or 4 days before leaving. On the other hand, the US requires travellers to get tested one day before departure.
However, with the Omicron variant around and amid fears of another Covid-19 wave, countries have also ramped up testing. Take the Langkawi travel bubble for instance. At present, travellers need to get tested pretty much everyday—sometimes with a PCR test and other times with an RTK Antigen test.
Some destinations can also ask you to get tested upon arrival, on the 3rd day, 5th day, 7th day of arrival, and so on. As these rules change from time to time, make sure you check proper sources such as government websites on what the exact requirements are during your travels. This can help you set aside the right amount of money for these tests and you can also be more mentally prepared for them.
3. Quarantine facilities
As mentioned earlier, some destinations have scrapped quarantine altogether, but there are others that still impose this. In most cases, travellers will either be allowed to quarantine at home, or they’ll need to go to a designated quarantine facility such as a hotel. Again, in order to be more prepared, find out whether you need to quarantine in your destination, what options are available to you and the cost of all of this.
You’ll also need to check if you have to be under quarantine when returning to your country. At present, travellers who are returning to Malaysia from overseas must serve one week of quarantine. Home quarantine is available, but you’ll need to apply for it first. If your application is rejected, you’ll need to stay at a hotel instead.
Malaysia also has slightly different rules for high-risk countries where there is a community spread of the Omicron variant. Those returning from these countries will need to wear a digital tracker if they want to quarantine at home.
4. Other local Covid-19 regulations
While Covid-19 has plagued the whole world, not all countries have taken the same measures against it. Some still have mask mandates, some have removed masking requirements for vaccinated people, while others have even made Covid-19 vaccination mandatory.
In Malaysia, for example, certain social activities are now permitted, but this may not be the case in some countries. To avoid getting fined for breaking rules like this, please check any local regulations thoroughly before you get there. Unfortunately, saying you didn’t know a particular rule existed might not be enough to save you from being penalized. So to be safe, do your homework on the laws in your destination country.
Related: Best Travel Insurance Deals in Malaysia
5. Miscellaneous travel documents
With international travel opening up just recently, it goes without saying that many of our travel documents such as passports and visas would have expired. This might be a no-brainer, but it’s possible to overlook even the simplest of things. Make sure all of this is valid before your travels, and that you also have sufficient pages in your passport, as that can be an issue too.
If the country you’re heading to isn’t fully open for tourism but has allowed you to enter for certain reasons such as marriage or a new job, make sure you bring along whatever special pass was issued to you. Some places might require you to book a return ticket even if you plan to move there permanently. This can happen if you’re flying on a tourist visa which will later be converted to something else. To confirm things like these, you can join official travel groups and pages that post frequent updates.
And finally, besides following Covid-19 rules, you might even have to get other documentation or phone apps that can verify your health/vaccination status. Qatar, for example, has an Ehteraz app (something like our MySejahtera) which is optional for citizens and residents, but is mandatory for visitors. France, on the other hand, has a Covid Health Pass which you’ll need to present before entering various locations.
All of this may be a lot of information, but as we said, not everything might apply to you. We’d like to remind you again to refer only to official sources for information on travel rules and measures. If you’re travelling any time soon, happy holidaying and stay safe!
Want to spend without a hassle while travelling? Check out some credit cards you can get that will give you rewards for each transaction!
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A Guide to Choosing and Applying for Credit Cards
- By CompareHero.my
- December 10, 2021
Applying for a credit card is not difficult. However, before applying for a credit card, you need to understand the features and type of credit cards in the market to suit your personal financing needs. We will guide you on how to apply for a credit card through different channels and the standard procedures involved.
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How to Choose the Best Credit Card for Yourself?
There is no single best card in Malaysia for everyone. What is considered the “best” will vary from person to person, which is why in this guide we will discuss the different ‘personas’, with different needs in order to help you find the right credit card for you.
There are several credit card types offering various features such as reward programs, cashback, air miles, balance transfer, and exclusive privileges such as premium deals, access to the premium lounges in the airport, and unlimited spending limits.
In addition to better understanding the benefits you will enjoy as a cardholder, there are several other factors you need to consider when choosing a credit card. Starting from card features to suit your needs, the application process and document requirements, of which you can find out more in the sections below.
What to Look Out for When Choosing a Card?
1. Effective Interest Rate (EIR)
Banks always advertise annual percentage rates (APR) to its customers. However, the effective interest rate represents the true economic cost of carrying a credit card. A credit card is one of the financing options that come with the highest costs. With EIRs ranging from 12% to 16% in Malaysia, it is important to find out the EIR of the credit card offered by banks which will be the interest rate charged to your outstanding credit card balance.
However, most people can avoid paying the high costs if they manage to pay the outstanding amount every month.
2. Annual fee
Other than APR, some banks charge an annual fee to credit card holders which can be as high as RM800 per annum. Before applying for a new card, you should understand your financing appetite and see if there is another similar credit card offering a lower fee, or better yet, zero annual fees. The range of annual fee for credit cards in Malaysia is between RM100 to RM800.
Some banks offer annual fee waivers for certain credit cards and you should take this into consideration when it comes to choosing a credit card, to minimize your cost of applying for one.
3. Other charges
Always read the fine print to discover if there are any additional charges that could be imposed by the bank such as a foreign transaction fee, dynamic currency conversion, cash advance fee, balance transfer fee, and late payment fee.
- Foreign Transaction Fee: 1% (This applies to most of the cards in Malaysia but you can check with your bank to get a confirmation at any time.)
- Dynamic Currency Conversion: 1% and conversion charges. (Depending on banks)
- Cash Advance Fee: Based on the effective interest rate (EIR), which will be charged to your credit card. However, some do offer low rates for cash advance option. (It is best to contact the banks for the latest promotion on cash advance.)
- Balance Transfer Fee: From 0% to 6% in Malaysia.
- Late Payment Fee: If the minimum payment is not made by the payment due date, a late payment charge will be charged at 1% of the outstanding debts. (Depending on banks)
4. Minimum income requirement
Before approving your credit card application, banks will need to know your income level. Minimum annual income requirement in Malaysia for a basic credit card is RM24,000, in general. Be sure to check if you meet the minimum income requirement before applying for your credit card. Overall, it is safe to say that you can apply for more than half of credit cards offered in Malaysia if your annual salary is between RM24,000 to RM36,000.
5. Credit Score
You need to make sure your credit score is at a healthy level with your debt-to-income ratio not exceeding 40% to improve chances of getting your credit card application approved. Generally, you can check your credit score from CCRIS (Bank Negara), CTOS Credit Rating agency and RAM Credit Rating Sdn Bhd.
6. Cashback Benefit
Credit cards that come with cashback features would require you to comply with several terms and conditions. First, you need to spend a minimum amount every month in order to be eligible for the maximum cashback rate offered by the banks. Next, you need to look at the maximum cap of cashback (rates) as some banks may impose this to certain credit cards. Then, you should carefully look at the categories of spending that are entitled to cashback features.
7. Reward Points Benefit
Just like cashback credit cards, there are different tiers for the amount of rewards points that you can earn based on the spending category. To compare the best rewards credit cards, you should consider the options of rewards offered by the banks such as retail products, services and vouchers. Most importantly, you should find out the rewards to cash (spending) ratio and the one that allows you to redeem for your rewards the fastest!
Twelve Types of Credit Card Users in Malaysia and Credit Cards That Suit Them
In order to pick the right card for yourself, we’ll help you understand the kind of spender or credit card user you are. We have listed the twelve common types of spenders in Malaysia and the best credit card that suits their needs.
1. First-Time Credit Card Holders
You are a fresh graduate or entry-level executive who just found your first job and you are looking to apply for your first credit card. You are not entirely sure about the different type of credit card features and how a credit card works for you. However, you wish to have a card that offers great savings at minimal costs and you are really excited to start enjoying your life with more financing flexibility.
It can be hard for you to get your first credit card given you might not have a credit history. However, you can apply for a no annual fee credit card offered by many banks, specially designed for fresh graduates and you can use it for emergencies in the future.
Recommended card types for you: Cashback, No Annual Fee
2. Fashionista/Lifestyle Indulger
You look forward to enjoying the best in your life with exclusive deals and you love to spend your time scouting for the best dress and shoes anytime, anywhere. Most importantly, you want to be able to earn rewards or cashback from your spending and enjoy more savings at the end of the year or month!
Like the new UOB Lady Card, you can enjoy 10% cashback for your weekend shopping and earn 10 X UNIRIGGIT points through its reward program, both with just one card!
Recommended card types for you: Cashback, Rewards
3. Housewife or Stay-At-Home Dads
If you are doing the house chores and grocery shopping for your family, you are definitely one of the super moms or super dads. There are a few cards that allow you to enjoy unlimited savings and exclusive deals from time to time at the lowest cost possible.
If you prefer to save more than using cash, you should know that there are several credit cards that offer great savings for grocery shopping such as Alliance Bank You:nique credit card that offers 3% cashback rate without minimum spending or monthly cashback cap.
Recommended card types for you: Cashback, Rewards, No annual fee
4. Online Shopper
You find that most of the best deals are available online and you prefer to skip the queue to get your favourite stuff by using a laptop or smartphone. On top of that, you love to enjoy exclusive deals with a credit card or two. Let’s face it, we are all becoming online shoppers whether we realise it or not.
If you want to save more from your next online shopping routine, RHB Islamic Smart Value-I offers a maximum 5% cashback for online shopping, or UOB VOX Visa offers 5% cash rebate for online spending with a minimum spend of RM50 in a single receipt. These are some of the great credit cards for you!
Recommended card types for you: Cashback, Rewards, Islamic
5. Islamic card user
Whether you are Muslim or non-Muslim, if you believe in Shariah-compliant financing options, you are most likely to use an Islamic credit card which functions similarly to a conventional credit card but with some slight differences in the offered features. One of the differences in Islamic credit card is the replacement of the interest rate with a profit charge.
Recommended card type for you: Islamic
6. Traveller
You love to travel and see the world with your own eyes. With a card that fits your needs, you can earn air miles and redeem free flight tickets while enjoying exclusive deals such as free travel insurance and access to plaza premium lounges on your next holiday.
If you choose the right card, you just might land yourself free travel insurance and unlimited access to premium plaza lounges at KLIA by buying a flight ticket with the card such as AmBank Platinum credit card.
Recommended card types for you: Airmiles, Rewards
7. Full-Time Driver
Whether you are an Uber or Grab driver, or you are frequently in the driver seat going from one destination to another, you have one single goal and that is to save on fuel consumption. A card that allows you to save money when you fill up petrol is a lifesaver.
Driving in Malaysia can be stressful from time to time because of the uncertain fuel prices. However, you can find some relief and save yourself some extra ringgit by using the right credit card with great cashback rates for petrol such as Shell-Citi Gold Credit Card that offers cashback as high as 8% if you spend RM2,500 and above in your total monthly spending (including petrol, dining, groceries, utilities, and traveling.)
Recommended card type for you: Cashback
8. For Emergencies Only
Not really a believer in a credit card and find that you prefer to spend with cash? You are one of the many Malaysians who keeps a credit card as the last resort to solve your financing needs such as debt consolidation or cash advance.
Given the fact that you are not able to anticipate the exact time you will need to use the card, you should apply for a no-annual-fee credit card to minimise your cost of owning one.
Recommended card types for you: No annual fee
9. Premium Lifestyle Believers
You believe in getting the best out of each Ringgit you spend and love to have the privilege to use the credit card to buy what the world has to offer. You don’t mind paying more to get better value for services and goods.
For example, Cynthia earns RM10,000 per month and she is looking for a card that offers the best of everything for rewards, cashback rates and airmiles programs. Well, Citi Rewards Visa Signature can be a great credit card option for Cynthia with 5 X Citi Rewards Points for spending in selected merchants which do not expire!
Recommended card type for you: Best Deals
10. Business Traveler
You are a busy corporate person with a job that requires you to fly around the world for your business or company. You want a seamless travel experience and hope to have the best out of every trip with comfortable flights and cosy accommodation.
For example, HSBC Visa Signature’s reward program offers air miles conversion of 3,000 Rewards Points to 1,000 Air Miles for its users. With unlimited access to the premium lounge in KLIA, Singapore Changi Airport & Hong Kong International Airport and up to RM750,000 travel insurance, this card is welcomed by many business travellers in Malaysia!
Recommended card types for you: Best Deals, Airmiles
11. Entrepreneur
You are an owner of an emerging company and you need flexible financing options for both yourself and your employees to run the business with supplementary cards. On top of that, you wish to keep track of all expenses and put a limit on each card to ease your business finance management.
Most importantly, you will want to leverage on the cashback benefit offered by some credit cards to optimise every ringgit spent for your business. For example, the Standard Chartered JustOne Platinum Mastercard that offers a maximum 15% cashback rate, you can easily save up to RM1,000 a year by using this card to spend for some of your business expenses!
Recommended card types for you: Business, Cashback
12. Company Cards
You are the owner or admin & finance manager of a company that issues a credit card to your employees. Integrated with your company’s account, you can easily track all the expenses and manage your company’s financial position.
Recommended card type for you: Corporate
How to Apply for a Credit Card
There are five main ways to apply for a credit card in Malaysia and the card approval process usually lasts between one to two months. Banks will screen your personal details, credit ratings, legal cases, payment history, and other relevant financial information before issuing a credit card to you.
Five Ways to Apply for a Credit Card
1. The bank’s website
You can apply for a credit card from any bank’s website if you already know your preferred product or have a preferred provider in mind. It is easier to get your application approved from a bank which you have an existing saving or current account with because the bank can easily track your cash flow and verify your information.
2. Walk into a branch
You can choose to walk into any bank branch nearby your area and fill up the form to apply for a credit card. You will need to bring your identity card and required documents including three months’ income statement (pay slip), EPF statement (latest and previous year) and also three months bank statement.
3. Comparison sites like CompareHero.my
You can easily search, compare and apply for your preferred credit card at any time by using a laptop or smartphone. Comparison sites like CompareHero.my have a team of excellent customer service heroes that will help you gather all required documents and guide you through the process of getting your favourite credit card.
4. Credit card agents
You can find credit card agents at most of the shopping malls, supermarkets, office areas, and even public transportation stations. However, it might be hard for you to compare and choose the best credit cards given the short period of time to communicate with these agents. Despite so, many banks offer freebies such as luggage bags and soft toys for those who sign up for a credit card with these agents.
5. Call centers
You can call the bank’s hotline to apply for a credit card and ask for the consultant or assistant’s work email address to send over your confidential documents. Sometimes, your banks may call you to ask if you are interested in applying for certain credit cards from time to time.
Type of Credit Card Applicants and Required Documents
Recognising that there are different types of applicants who are looking for a credit card with various backgrounds, the banks have tailored requirements for each group of applicants. Here is what you need to know:
1. Fresh Graduates
If you are a fresh graduate who has not found a job, you are not eligible to apply for a credit card until you have found one and have at least three months of salary. It will be even better if you can offer a copy of the confirmation letter from your employer to the bank.
2. Employed Executive
From entry-level to director in a company, you can apply for a credit card as long as you achieve the minimum income level required by the bank. To apply, you need to prepare the following documents:
- Photocopy of identity card (front and back)
- Latest EPF statement OR;
- Latest full set BE & tax payment receipt OR;
- Latest EA (last two years to include bonus) OR;
- Latest salary slip
For those who earn commission, overtime, or allowance with a fixed salary, you need to prepare the following documents before applying for a credit card:
- Photocopy of identity card (front and back)
- Latest three months EPF statement OR;
- Latest three months bank statement (salary credited) OR;
- Latest full set BE form & tax payment receipt OR;
- Latest EA form OR;
- Latest three-month salary slip
For those who earn solely on commission such as sales agent, you need to prepare the following documents:
- Photocopy of identity card (front and back)
- Latest six months commission statement OR;
- Latest full set BE & tax payment receipt OR;
- Latest annual commission statement (CP58)
3. Own business/Self-employed/Freelancer
For those own their business and wish to apply for a credit card, you need to have a different set of documents to be eligible. On that note, freelancers may need to register their service as a sole business in order to improve their chances of getting a credit card or loan in the future.
Here are the documents you will need:
- Photocopy of identity card (front and back)
- Latest six months company bank statement OR latest full set Borang BE or B & payment tax receipt
- Form A (sole prop) / Form B (partnership) / Form 9, 24 & 49 (company) (issued by SuruhanJaya Syarikat Malaysia)
4. Government servant
For those who work in the public sector, you will these documents to apply for a credit card:
- Photocopy of identity card (front and back)
- Latest one-month salary slip OR
- Employer confirmation letter
However, some banks may view applications from public servants the same as an employed applicant and request for three months of salary slip, bank statements, and latest EPF statement.
5. Retiree
The retiree is not allowed to apply for a credit card unless he or she continues to run a business. In that case, you can refer to the column above for required documents to apply for a credit card.
6. Unemployed
Unemployed or retrenched individuals are not allowed to apply for a credit card in Malaysia until you have worked in your next job for at least six months with necessary documents to apply as an employed individual.
7. Expat in Malaysia
On average, foreigners working in Malaysia need to have visa validity of at least six months and a minimum income of RM10,000 per month. (Some banks may set this as high as RM20,000 and 12-month visa validity but it still depends on the credit card applied.)
Here are the documents you need to apply as an expat in Malaysia:
- Photocopy of passport & Visa
- Latest two months’ salary slip
- Work permit valid for at least six months at the time of application
- Letter of employment
In general, expect as an expat that the credit criteria will be much higher and the banks have much more discretion in choosing whether or not to accept you.
8. Working Abroad
The income level requirements may differ across banks as some may factor in foreign currency exchange while others may not. It is still safe to say that you should earn at least RM24,000 of annual income in order to qualify yourself for a credit card.
Here are the documents you need to prepare:
- Photocopy of IC (front & back)
- Latest 3 months EPF statement OR;
- Latest 3 months bank statement (salary credited) OR;
- Latest full set BE form & tax payment receipt OR;
- Latest EA form OR;
- Latest three months salary slip
How to Check Your Application Status
It usually takes one to two months for the bank to process your credit card application. A complete credit card application will include the required documents including a copy of your identity card, income statements and also Employee Provident Fund (EPF) statements.
If you do not hear from the bank and wish to check the status of your application, you can always call the bank’s hotline number. Depending on which channel you applied through, you can always refer to the channel such as a specific branch, agent, or comparison site.
For those who applied through a banking site, you can check your application status on your account over the internet.
If you applied through CompreHero.my, call us at 012-385 0211 (Mon-Fri, 9:00am – 6:00pm) and we will update you from time to time until you successfully get your ideal credit card.
Some banks have an online application where you get a tracking code, which you will need to have with you when calling their hotline, as they will need it to pull up your record.
What do I do if my application is declined?
If you have received a notice from the bank that your application is declined, there could be a few reasons contributing to it. However, it is best to consult the bank by calling up their hotline to find out the specific reasons so you can resolve them quickly.
Several reasons which could lead to the rejection of your credit card application by the bank include:
- Insufficient supporting documents
- Insufficient income level
- Bad credit score due to high debts or inconsistent loan payment pattern
- Too many credit cards
- CCRIS credit report of fewer than six months
- Incomplete application form
- Existing lawsuits
Based on the reasons as mentioned above, here are a few suggestions before sending your application to the bank:
- Ensure all details in the application form are filled
- Ensure to attach all required documents with your application for a credit card
- Make sure you reach the minimum requirements such as income level and age
Most importantly, you must polish your credit record and make prompt payments for all of your financial commitments for at least six months (the longer the better!) before applying. Remember, even if you are not applying for any financial product, you should still be making prompt payments, as it helps to improve the chances of the bank approving your application in the future.
Through your credit report, banks will be able to see your financial history of up to six months, so make sure you credit reports is updated from time to time and contact the credit rating agency if you need to update or make amendments.
If you have been missing or making late payments a few months before you apply for a loan, there’s a strong possibility the bank will reject your loan application because of your poor payment pattern.
Want to find out more on what to do before applying for a credit card? Click the link below!
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Ketahui Kegunaan Lain Kad Touch ‘n Go di Malaysia
- By CompareHero.my
- December 8, 2021
Anda memiliki kad Touch ‘n Go? Jika ya, tahukah anda kad itu kini mempunyai kegunaan lain selain membayar tol dan pengangkutan awam? Ketahui fungsi lain kad Touch ‘n Go (TnG) untuk menggunakannya dengan efektif.
Pada 25 Julai 2017, TnG telah mengumumkan mereka bakal menjalin usaha sama dengan Ant Financial Service Group dari Alibaba (yang menawarkan perkhidmatan Alipay) untuk melancarkan aplikasi e-dompet.
Artikel berkaitan: All you need to know about Touch ‘n Go RFID
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Apa Itu Touch ‘n Go?
Kad TnG merupakan sekeping kad prabayar yang menggunakan teknologi tanpa sentuh (contactless), sesuai dengan namanya. Maklumat yang terkandung dalam kad ini dibaca melalui induksi magnetik menggunakan frekuensi radio khusus dan perisian kad pintar. Kad ini menjadi salah satu cara bayaran di tempat letak kereta, toll lebuh raya, pengangkutan awam, dan lain-lain.
Touch ‘n Go Sdn Bhd mula beroperasi pada bulan Oktober 1996, dengan servis Touch ‘n Go dilancarkan pada Mac 1997 di Lebuhraya Metramac dan PLUS. Syarikat ini merupakan satu-satunya pengendali Electronic Toll Collection (ETC) di Malaysia. Kad TnG juga diterima sebagai Common Ticketing System (CTS) untuk pengangkutan awam utama di Lembah Klang. Selaku syarikat sendirian berhad, pemegang-pemegang saham TnG Sdn Bhd termasuklah CIMB Group Holdings Berhad, MTD Capital Berhad dan PLUS Expressways Berhad.
Sehingga kini, terdapat lebih kurang 17 juta pengguna aktif TnG, dengan 6 juta urus niaga setiap hari.
Jenis Kad Touch ‘n Go
Kad Touch ‘n Go: Kad yang biasa digunakan, berharga RM10.60 (termasuk GST). Harga kad tidak termasuk nilai, anda perlu menambah nilai kad secara asing.
Kad Touch ‘n Go ZING: Kad TnG yang dilengkapi dengan fungsi tambah nilai automatik. Dihubungkan dengan kad debit atau kredit pengguna. Boleh didapati untuk pemegang kad VISA, Mastercard, dan AMEX dari bank yang terpilih.
Tesco Clubcard: Kad dengan ciri TnG dan juga Tesco Clubcard. Boleh digunakan untuk bayaran pembelian di Tesco dan kedai-kedai lain yang mengambil bahagian.
Kad Watsons VIP: Kad 2 dalam 1 yang memberikan mata ganjaran untuk ahli Watsons VIP, dan faedah-faedah lain.
Touch ‘n Go Photocard: Anda boleh mengubahsuai grafik kad ini dengan gambar anda atau gambar lain. Berharga RM21.20, kad ini dijual di Pusat Khidmat Pelanggan TnG Bangsar South, pusat TnG di NU Sentral dan pusat TnG di Wisma Nufri Johor Bahru.
Artikel berkaitan: Ulasan Kad-kad Kredit Yang Paling Bagus Dalam Malaysia
Dimana Anda Boleh Gunakan Kad Touch ‘n Go?
Toll
Gunakan laluan TnG di lebuh raya untuk membuat bayaran. Fungsi ini merupakan fungsi yang paling banyak digunakan.
Pengangkutan Awam
Kad TnG boleh digunakan di Monorel, LRT, KTM, MRT, dan bas. Anda hanya perlu sentuh kad tersebut di pintu masuk, dan nilai kad akan ditolak. Biasanya, penggunaan kad TnG di penganggutan awam akan memberikan akan penjimatan 10% lebih murah berbanding tiket yang dibeli secara tunai.
Tempat Letak Kenderaan
Lebih banyak tempat letak kenderaan di pasaraya, hospital, dan hotel kini menerima bayaran dengan kad TnG. Ramai pemandu kini memilih untuk membayar menggunakan TnG kerana tidak perlu beratur di mesin bayaran. Jangan lupa untuk pastikan kad TnG anda memiliki baki yang mencukupi, kerana bayaran menggunakan TnG akan dikenakan caj tambahan.
Kedai-kedai
Kad TnG juga diterima sebagai bayaran untuk pembelian di pasaraya hinggalah ke kedai buku. Antara kedai-kedai berikut ialah:
- Watsons Personal Stores
- Vitacare Pharmacy
- MPH Bookstores
- TESCO
- Sam’s Groceria
- KK Super Mart
- The Chicken Rice Shop (cawangan terpilih sahaja)
- The Loaf
- Dunkin Donuts
- Juice Works (cawangan terpilih sahaja)
- Baskin Robbins
- Cars International (cawangan terpilih sahaja)
Untuk melihat senarai penuh kedai-kedai yang menawarkan bayaran dengan kad TnG, sila rujuk disini. Anda juga boleh melihat peta interaktif Touch ‘n Go untuk mengetahui senarai lokasi yang menerima TnG dan lokasi untuk tambah nilai.
Lihat juga: Kad Kesetiaan Petrol Terbaik Di Malaysia
Keselamatan Kad Touch ‘n Go
Selepas membeli kad Touch ‘n Go, anda disyorkan untuk daftarkan kad tersebut di portal MYTouchnGo. Ini kerana andai kad anda dicuri, ataup hilang, ia lebih mudah untuk mengesahkan proses bayaran balik. Anda juga boleh memilih untuk membatalkan kad tersebut dengan menghubungi Pusat Talian Pelanggan Touch ‘n Go di 03-2714 8888, pada 7.00am – 10.00 pm setiap hari, termasuklah pada cuti umum. Portal MYTouchnGo juga memberikan anda akses kepada jumlah yan digunakan, rebat, dan membuat pindahan hak milik.
Di Mana Anda Boleh Beli Kad Touch ‘n Go?
Anda boleh dapatkan kad TnG di pusat Touch ‘n Go, Touch ‘n Go SPOT di stesen minyak terpilih, stesen PETRONAS terpilih, dan juga kaunter jualan di lebuh raya. Kad ini juga dijual di sesetengah kaunter stesen LRT. Dapatkan lokasi kaunter tersebut disini.
Kad TnG ZING pula hanya untuk pemegang kad-kad kredit berikut:
- CIMB Zing Card
- Maybankard Touch ‘n Go Zing
- Hong Leong Bank Berhad (Debit)
- Hong Leong Bank Berhad (Credit)
- Bank Simpanan Nasional Berhad
- Affin Bank Touch ‘n Go MasterCard Gold
- Affin Bank Touch ‘n Go MasterCard Classic
- AEON Credit Malaysia Berhad
Bagi kad Watsons VIP, ianya dijual di mana-mana cawangan Watsons, manakala kad Tesco Clubcard boleh dibeli di pasaraya Tesco seluruh negara.
Bagaimana Anda Boleh Menambah Nilai Kad Touch ‘n Go?
Tambah nilai kad Touch ‘n Go boleh dibuat di:
- TnG Customer Experience Centre, (CEC)
- Hab TnG
- TnG SPOT
- Kiosk Petrol
- Kedai serbaneka
- ATM
- Farmasi
- Kiosk layan diri
- Kaunter Khidmat Pelanggan di plaza tol terpilih
- Kaunter tambah nilai di plaza tol lebuh raya.
- Lokasi-lokasi lain
Pastikan anda lakukan tambah nilai melalui kiosk yang terpilih sahaja. Jika anda dkesan melakukan transaksi yang tidak sah atau melalui “ajen” tidak sah, kad TnG tersebut boleh disenarai hitam. Baki kad tersebut akan disita, dan kes tersebut akan diserahkan kepada pihak berkuasa.
Jumlah tambah nilai yang boleh dibuat ialah M10, RM20, RM35, RM50, RM100, RM200 dan RM500. Untuk tujuan keselamatan, jumlah tertinggi tambah nilai ialah RM1,500.
Kad anda akan terus aktif selagi anda membuat tambah nilai sekurang-kurangnya setahun sekali. Jika tiada transaksi dilakukan dalam tempoh 12 bulan, kad tersebut akan menjadi tidak aktif, caj RM5.30 akan dikenakan dan akan ditolak dari baki kad TnG tersebut. Jika kad tersebut terus tidak aktif, caj RM5.30 akan dikenakan setiap 6 bulan.
Sekiranya anda tidak ingin menggunakan kad TnG, anda boleh pulangkannya di kaunter TnG dan dapatkan balik baki didalam kad anda, bergantung kepada terma dan syarat. Nantikan kemas kini seterusnya untuk maklumat mengenai e-dompet TnG!
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