Thursday, August 26, 2010

My new personal banking account in Hong Leong

Last month, I started looking for a part time job to spend my leisure time in holiday, and I have found a job as Giant part time cashier, salary is not bad..XD but it's kind of 'heavy duty'.

It's just part time job, I only worked on Saturday and Sunday weekly. I worked 5 days totally. This job is available because the Hari Raya is coming soon, and they need more worker. I can see, Giant is so quiet if there isn't any celebration or festival.

Since then, I have my income this month. I didn't waste my time by rotting at home (although I still spent a lot of time doing some other stuff during weekdays:P) I have an existing account in CIMB, but my investment account is in Hong Leong. It's kind of trouble for any transaction although Hong Leong offers free moving cost, but it's slow (at least 3 days to send cheque from Hong Leong to CIMB). So, I decided to open a new saving account in Hong Leong bank.

I compared the types of saving account in the Hong Leong, rather than compare inter-bank. There are two which are more suitable to me, which is Saving Account(SA) and Basic Saving Account(BSA). BSA provides passbook and Debit+Credit card for free (without annual fee), but I am not sure about SA's feature. I guess there is annual charge of RM8 for an ATM card. However, if the inactivity of BSA (dormant account) up to 12 months, there will be penalty which they charge RM10 p.a. or they close the account if the balance is less than RM10, but we can keep our money in SA without worry, although no activity.

I have chosen to open BSA. One of the reasons is BSA offers 0.25% p.a. interests for savings up to RM10,000, rather than 0.10% p.a. for SA. Moreover, BSA provides Debit+Credit Card for free. And, I am not worried about the annual charge of RM10 for dormant account, because I believe I will at least deposit cash after Chinese New Year every year. XD

With this new savings account in HLB, I can do transaction without visiting the counter by myself. Just a few simple clicks, transaction is done.:P Moreover, I don't need to keep my money in my trust account without any interests, and I can transfer the money back into saving account when the bear market comes.XD

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