Us Against The Numbers –> -3.7% interest, 50 sen on ATM, RM1.00 per month

-3.7% on interest per year. 50 sen on every 5th ATM transaction. RM1.00 per month subscription fee.

What’s going on? To accept the fact that it is YOUR bank who gives you 0.3% in interest per year on your savings balance is catastrophic enough. I wonder why they call it a ‘Savings’ account when your hard-earned money is actually eroding gradually due to inflation each year, which in case you weren’t aware – a number that hovers around 4%. Each year. Bloody hell. And if you could cough out RM1,000 for a fixed deposit, you’d reduce the damage of capital erossion due to inflation to about 1%. But still its 1% against you. Not in favour of.


Not only do they throw in a paltry 0.3% interest in your savings, they also (bloody hell) charge your for ATM withdrawals. 50 sen for every 5 transactions. Why is that? Imagine this, your home bank, nothing to do with MEPS or withdrawal through a common interbank network.

To top it all off, they will be introducing a ‘subscription fee’ effective 20 December 2004. A subscription fee? For what?

“Since the launch of in June 2000, we have provided a wide range of services to enable you to enjoy security and convenience in online banking. Our goal is that you, as a valued customer, will always receive quality products and services. This access to has been made available to you on a complimentary basis. “

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In this day and age, I would assume that online banking IS part and parcel of banking service, complementing existing conventional banking. Not an ‘optional’ feature. And definitely not an extra. Especially not a paid, subscription-based one. That’s dispicable. Shameful almost. Is this how you repay your so-called ‘valued customer’? The billions you make each year from your customers still warrants charging them for ‘infrastructure’?

“Should you choose not to subscribe to, you can alternatively use our other delivery channels, such as our Kawanku ATMs, Kawanku Phone Banking or visit our branches for your banking and bill payment transactions. However, we trust that you would continue to use for a nominal fee to enjoy the many services and time-saving conveniences available.”

Wow, thanks for the choice, buddy. And also thanks for telling your customers. There was no official announcement to your customers via mail, email, phone, or whatever channel left to not be chargeable, about the subscription fee except through Was fortunate that a friend had highlighted it to me, for I would have missed it otherwise.

Talking about banks – I was at Citibank to help a friend pay for his credit card bill. When he dropped me off at the Citibank branch on Jalan Ampang I was shocked to see the amount of people queueing to make payment at the Cash Deposit machines. So this is how ‘convenient’ modern day banking is huh? How about giving customers you so aggresively give credit cards to better service? More machines? More branches? It took me 30 minutes before it was my turn. Plus no air-conditioning. Great. 100 inpatient, annoyed and sweaty people, in very long lines. Really nice. And some slow-pokes who either don’t read very well or are virgin ATM users. I am so glad I am not a Citibank customer. Really. I am.

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So my dear friends, how is YOUR bank treating ya?


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