Boost Bank, the digital bank by Axiata and RHB Bank, has finally introduced a debit card for its users. While the bank launched in June of this year, it did not offer a card at the time but claimed to be launching a physical card in July, a deadline that it missed by quite a stretch.
The new debit card is powered by Mastercard, allowing customers to use it at most merchants and withdraw cash globally. It can be ordered through the Boost Bank app under the “Cards” tab and it comes with free delivery. While waiting for the arrival of the physical card, users can start making online purchases with the virtual card that will be issued immediately upon application.
Unlike the cards from competitors GXBank and AEON Bank, Boost’s card does not offer cashback for purchases. However, those who activate the card from 1 October to 31 December 2024 are eligible for a RM10 cashback, but this is limited to the first 100,000 participants.
The Boost Bank debit card has an annual fee of RM8, but this is waived for the first year. As for its other fees, it costs RM1 to withdraw from local MEPS ATMs, RM12 for overseas ATMs, and there is a 1.25% conversion fee when spending overseas.
Additionally, the digital bank has introduced a new Boost Birthday Jar with a daily interest rate of 5%, which will run throughout the month of October. Aside from the promotional rate, the bank currently offers an interest rate of up to 3.6% for its savings jars, but there are several hoops that you will have to jump through in order to qualify for this rate.
(Source: Boost Bank Press Release)
