Ryt Bank customers can now activate their accounts through ATMs and bank branches in Malaysia, following the introduction of a new funding option by the digital bank. The option allows the initial transfer required for account activation to be made without using online banking.
The bank said in a Facebook post that it is the first digital bank in Malaysia to offer account activation through ATMs and bank branches. The new option is available after customers have opened an account and completed the electronic Know Your Customer (eKYC) process through the Ryt Bank app, with the transfer itself facilitated through the Interbank GIRO (IBG) network.
To use the new activation method, users first need to go to the account dashboard in the app and select “Add money”. They can then select “Use another method” and choose either “ATM transfer” or “Visit a bank branch”.
For ATM activations, users need to insert the card into the machine and select “Transfer”. Make sure the account name matches your IC. Select “Interbank GIRO”, then choose “Savings Account”. From there, users will be prompted to transfer at least RM1 and select “Ryt Bank”. The process is complete once they’ve entered their account number.
Meanwhile, bank branches are a little different, as they require the user’s MyKad. Other than that, they need to tell the relevant bank officer that they want to transfer via Interbank GIRO (IBG) to Ryt Bank. They will then be prompted by the staff to fill in their details and then deposit at least RM1 into the account, and they’re all set.
It’s worth noting that Ryt Bank requires a minimum transfer of RM1 to activate an account. However, for activations made via an ATM or bank branch, the actual transfer amount may vary depending on the denominations supported by the selected channel.
Customers should also note that they still need to open an account and complete the electronic Know Your Customer (eKYC) process through the app. Once that is done, they can activate the account by transferring funds through an ATM or at a bank branch using the methods mentioned above.
(Source: Ryt Bank [Website], [Facebook])
