GXBank, the Grab-led digital bank, has a debit card that coming soon. It’s simply called the GX Debit Card, and while it doesn’t look like an announcement has been made for the card, it has its own page on the GXBank website.
From it, the company claims that it is “the only cashback card with no limits”. More specifically, the claims is that you’ll get back 1% cashback every time you spend using the GX Debit Card. An FAQ entry notes that there are “certain business nature transactions” that won’t earn you any cashback. The page points towards its terms and conditions, which doesn’t seem to actually include said list of exceptions.
Beyond that, GXBank claims that there’s “no markups on exchange rates”, as well as “no hidden fees on overseas transactions”. Which would be useful for frequent travellers, except this only applies until 31 December of 2024, according to the GX Debit Card’s product disclosure sheet. Following which, there will be a 1.2% foreign transaction fee. Naturally, the company says that said date may change without notice.
All that being said, getting the GX Debit Card can proove to be quite a challenge. After all access to GXBank itself is limited to 20,000 users across the country, and you’ll have to be one of them first before you get access to the card. But if you are one of those selected, you can also get a physical card for RM12. There’s also no mention of support for Apple Pay, Google Pay or Samsung Pay.
(Source: GXBank)
