Boost Bank, the digital bank by Axiata and RHB Bank, has officially commenced operations starting today. As of now, the bank is still in an alpha testing phase involving employees, friends, family, and select customers, but it is already advertising some of its current and upcoming features on its website.
While still invitation-only, Boost Bank already enables its users to open up a savings account as well as having access to Savings Jar, a feature that encourages you to save a set amount of money for certain goals. It has not stated the interest rate for its savings account.
The digital bank also teased a debit card that will be introduced soon, which will come with perks and rewards for spending. While the Boost app itself currently offers the Beyond prepaid card to Celcom customers, we can assume that the upcoming Boost Bank debit card will be available to more users.
Unfortunately, it has yet to announced a date for a mass public launch, so the race to become the second digital bank to go to market is still on as AEON Bank has similarly received approval and has commenced internal testing. Of course, the first digital bank to publicly launch in Malaysia is Grab’s GXBank, which offers a daily interest rate on its savings account and is set to release a Mastercard debit card some time this month.
