GXBank today has officially launched its mobile app and, in extension, its banking services to all Malaysians. To recap, the Grab-led digital bank initially offered access exclusively to in-house members during its commencement in September this year, and later expanded it to 20,000 select local users during the beta phase that kicked off earlier this month. Now, those interested can register and set up their own account and enjoy its offerings that are readily available via the aforementioned app.
During the launch, GXBank CEO Pei Si Lai shared that almost 50% beta testers have created Pockets, the app’s savings goal feature which allows users to allocate and save cash for different purposes. Among the different categories available for Pockets, she noted that customers have mainly focused on building up their savings for emergencies, holidays and investments – resonating the bank’s purpose to encourage the habit of saving, especially amongst the younger generation.
The digital bank also promised to progressively roll out even more features in the near future, which includes its highly anticipated debit card. Speaking of which, GXBank has officially revealed that the card will be released in partnership with Mastercard, providing benefits including unlimited 1% cashback for every online and offline spend with the card, zero markups or fees on foreign transactions, RM1 fee waiver when used at 10,000+ MEPS ATM nationwide, and 1.5x GrabRewards points when users spend at Jaya Grocer. However, there’s still no mention of Apple Pay, Google Pay or Samsung Pay support just yet.
The GXBank mobile app is available now via Apple App Store and Google Play, while registration is only available for Malaysian residents. On that note, users first need to undergo the necessary eKYC (electronic Know Your Customer) process for registration, which requires you to provide the bank with your phone number and a digital copy of your MyKad. And it is also worth mentioning that existing Grab users can also easily access the bank through the Grab app itself.
Meanwhile, no actual date for GXBank’s debit card rollout has been confirmed at this time. Additionally, a digital version of it will be issued to all customers for free once it is available, whereas opting for a physical copy will cost you RM12.
(Source: GXBank press release)
