AmBank’s new deposit account called AmStar Extreme seems to have quite a bit to offer in terms of earning high interest rate on the account balance, 5 free withdrawals at all MEPS ATMs and 5 free interbank GIRO transactions a month. Any additional withdrawals and interbank transfers will be charged its normal rate after the first 5 free giveaways. If you are not the type who perform lots of online transactions, 5 will be quite sufficient for the month.
I saw this new account information from ads in the newspaper. I was quite impressed with what they had to offer and wanted to find out more. I normally am not interested in any AmBank banking products but this one looked quite good. I hopped over to their website, their URL was given in the ad, and to my disappointment, they didn’t even update their bank’s website with this new product’s information.
So all I know about this AmStar Extreme is what I read in the papers. As this is a checking account, I’m sure there must be some kind of fees attached on an annual if not monthly basis. I wanted to know more about this to see if it’s worth the high interest rates said to be given. How high, I have no idea. It wasn’t stated. Perhaps it isn’t as high as I imagine it to be, otherwise they would’ve splashed it out on the papers to get some attention and sign up, won’t they?
If anyone has opened an AmStar Extreme or has more information to share, please do.
{ 11 comments… read them below or add one }
This promo caught my eye because I was looking for a netbook, and the account promo has a HP netbook offer. When I looked at the website, the info was there, (as at 19 Dec) there is a monthly service fee of RM5, but its waived if you keep an average balance of RM1000 in the account. Was harder to find the interest rate, but found it on the rates table, its 1.5% on balances above RM5000. When I calculated the savings from the free transactions it comes up to RM180 a year. I do a lot of IBG transfers online, so its worth it for me. Also, dont have to worry about looking for AmBank ATM, can use any MEPS ATM now and not have to stand in the long queue!
I went to open the account already.
you know what?
they even have a support-group in www.facebook.com
if you’re on FaceBook, visit them at ‘Amstar Extreme’
atm? they are even at your friendly ‘7-eleven’ – how’s that for conveinence…..
and i love banking thru internet…..
Yeahhh!!! You are rite Johan!! This product is really good for those who are always perform via IBG and MEPS ATM.
I do a lot of IBG transfers online, so its worth it for me. Also, dont have to worry about looking for AmBank ATM, can use any MEPS ATM now and not have to stand in the long queue!
**** I heard this bank also have the ATMs at Seven eleven also. Wow!!! Looks like this bank is aggresively promoting and enhancing thier bank’s products to meet the customer’s need!!
I went to open the account already.
***** Me also interested to open this account, but the initial amount to open an account quite high… its about RM2,000 rite???
Johan, thanks for sharing the info here. Hmm…1.5% for RM5k balance is not that great a rate. No wonder they were not publishing it on their ad. Nevertheless, I agree that the free fund transfers and use of any ATMs is great. Have you opened your account?
Imantulen, I didn’t know AmBank ATMs are now in 7-Eleven outlets too! Good things are starting to show since their merger with ANZ.
Miss Ryna, have you got your account up and running?
1.5% is low if its a savings acc…but mind you, this is a current account…are there any other banks currently offering a higher interest rate on current account balance as compared to this ambank account?
will most prob curi tulang this friday to open this account
haha….happy new year all!
Darren, I kinda forgot that current accounts don’t give very good interest rates, so you’re right there and thanks for pointing it out. Good luck in opening your account tomorrow!
And do share with the rest of us your experience and whether the account is really as good as it is claimed to be!
Darren,
Got your AmStar Extreme account yet? If u have, was the experience any good @ the AmBank branch u went to? Just wanna hear u out before i go get one for myself. Tot of doing it this Sunday @ PJSS2 branch. Tell us bout it yah Darren.
Cheers!
Hi Penny
I have opened AmStar Extreme account already and start using the account. When I opened the account, found out that the transactions costs are still charged, but they rebate end of month…dont know why its like that, but suppose its ok, as long as they do rebate it…will keep you posted after 1 month whther the rebate went ok.
Johan, thanks for sharing with us your experience. Do let us know if you get the rebate. If they stated that it will happen, I trust they will do it since they are strictly governed by Bank Negara. Keep us in the loop about the other benefits, too!
Hey Johan!
Do let us know whether u get the rebate or not at the end of the month yah! Really keen to know dat bit. Guess will hold on till get word from u on the rebate.
Thanks.
Regards.
Hi mama
Just to keep you updated on this. Yes, I did get my rebate. I used up all 5 of the IBG transaction, got my RM10 back. I only used 2 of the MEPS ATM free, so got RM2 back. So far so good!