If you’re in the market, so to speak, for another bank, you’ll appreciate the fact that GXBank, Malaysia’s first digital bank, is offering sign-ups to a limited number of Malaysian users as they gradually roll out their app in the country.
What is GXBank
In essence, GXBank is a digital bank with transactions primarily conducted via their eponymous app. After downloading the app, GXBank allows users to open up a GXBank savings account to earn up to 3%PA daily interest and allocate up to 10 possible ‘pockets’ to stash cash in to achieve personal savings goals. At present, GXBank is offering an RM20 cashback with a minimum deposit of RM100
To ensure peace of mind, GXBank is licensed by Bank Negara Malaysia and all deposits up to the sum of RM250,000 are protected by Perbadanan Insurans Deposit Malaysia (PDIM). On the cards with GXBank is the introduction of a debit card as well as cash withdrawals from ATMs nationwide with a waiver on the typical RM1 processing fee at MEPS terminals.
“As we continue to test the stability of our app and gather feedback from users, we hope to develop a digital banking experience and app that is uniquely tailored to the financial needs of Malaysians of all generations. As a bank built predominantly by Malaysians, we are uniquely positioned to understand and develop financial solutions that address the needs and challenges of the everyday Malaysian,” said GXBank Chief Executive Officer, Pei Si Lai.
She adds,”We are one step closer to our nation’s vision of a financially resilient country where Malaysians can have equitable access to financial products that cater to their individual needs, without the intimation and hassle of elaborate paperwork, processes and jargon.” To be one of the first to check out the GXBank app, swing by and sign up at their official page at https://gxbank.my/