Boost Bank, Malaysia's first home-grown digital bank is now live for everyone. You don't need an existing bank account to open a Boost Bank Savings Account.
, Boost Bank wants to be more inclusive by allowing users without an existing bank account to sign up. Unbanked users can create a Savings Account but it is aTo unlock more features and a higher transfer limit, Boost Bank users are required to deposit a minimum of RM1 from their existing bank account registered under their name. This is a similar process as other digital banks as a form of verification.Boost Bank offers a default interest rate of up to 3.
The interest rate for the Savings Accounts and Savings Jars are calculated daily but it is credited every week. To stretch your ringgit further, Boost Bank is allowing users to earn up to 3x Boost Stars and they are providing extra cashback and discounts for selected participating merchants.when it first started, you can’t use your Boost Account for spending. The app in its current form doesn’t support DuitNow QR cashless payment and there’s no virtual card number. You can start making deposits into your Savings Account and perform fund transfers to other bank accounts via DuitNow.
As teased by Boost Bank earlier, they will soon introduce its Mastercard Debit Card with contactless payment support which may come in either Black or Red.
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