Great news, starting next year you can check your unclaimed money online. According to Deputy FinanceMinister Datuk Othman Aziz, the government will launch the Electronic Government Unclaimed Money Information System (eGUMIS) in the second quarter of next year to facilitate the revision of unclaimed money status, especially by rural people.
The Deputy Finance minister said there were 52,015 applications to claim unclaimed money made this year with 34,353 applications from around Kuala Lumpur alone. “The Accountant General of Malaysia will also join the Mobile Community Transformation Center organized by the Ministry of Finance to enable the people especially in the rural areas access and check the status of unclaimed money,” he said at the Dewan Rakyat sitting here today.
RM 5.96 Billion
He said this in reply to the question Datuk Ahmad Fauzi Zahari (BN-Setiawangsa) on the steps taken by the government to raise awareness of the existence of unclaimed money. He said that until October 31 this year, unclaimed sums were RM5.96 billion with 70 percent contributed by banking transactions such as savings account, current account and non-active savings account for over seven years.
For now, you still have to go to Accountant General Department with your identification card to claim your money.
When was the last time you checked your credit score? Well it would seem that Malaysians have a rather laid-back approach to managing their credit history. In fact, as many as 64% have never even looked at their credit report. That’s according to a survey by credit reporting agency RAMCI.
And despite almost 75% of people knowing what a credit report is, an astonishing 56% admitted that they didn’t know what the purpose of a credit score was and how it can impact their credit applications. But when it comes to finances, ignorance definitely isn’t bliss and having a poor credit score can seriously impact you being able to obtain credit in the future.
A credit score, created by a lender or credit reporting agency is a numerical picture of your credit profile. This credit score may be used by Maybank to evaluate a person’s credit worthiness for a credit card or loan and can even decide the interest rate you will have to pay.
However, many Malaysian banks have their individual method of calculating your credit score. Therefore, getting your loan request approved will greatly depend on which bank you apply to. Your creditor will calculate your credit score and use it to decide whether they will accept or deny your application.
What can hurt it?
There are a number of ways you can damage your credit score. Your spending habits or not paying your bills on time can seriously impact upon your credit score.
And not just that, it can mean that you cannot get more credit in the future. Here are some ways you could be harming your credit score.
Always being late to pay your bills will tell another bank that you will likely be late on their payments too. The more times you make a late payment, the more it will hurt your score.
Sharing finances with other people, or acting as a guarantor on someone else’s behalf, can be disastrous for your credit score rating. If they default or make a late payment, it will hit your credit score too.
While it may seem unfair, not owning a credit card or never taking out a loan does actually more harm than good. The score considers whether you have a reasonably lengthy history of managing your finances and credit commitments. So, the older your credit history, the more points you will accumulate.
Having credit applications rejected can have a serious and negative impact on your credit score rating. Therefore, try to only apply for credit when you need it, and when you are confident that you are going to get it.
How much you owe can greatly affect your scores, just as much as whether you make your repayments on time.
Take control of your credit profile
Even if you discover that you have a bad credit score, it is possible to turn it around. By working hard to pay your bills on time and reducing your credit card balances you can transform it to a healthy score.
Of course, you can still get by with a poor credit score, but achieving a high rating has many benefits and opportunities for low-interest loans in the future. But in order to improve your financial borrowing position you need to start by knowing your credit score.
A daunting prospect perhaps, but once you know your situation that Maybank loan could be just around the corner.
Mastercard has come with new fingerprint technology on credit card to reduce fraud and stolen identity. The pilot project has started in South Africa and they plan to fully introduce the technology to Europe and Asia this year.
Mastercard has been working with Pick n Pay, a South African grocery retailer and Absa Bank, a subsidiary of Barclays.
Biometric fingerprint is seen as safer and easier than 4 PIN authentication. Shopper just need to hold the card by the fingerprint sensor and insert it to a card reader.
The terminal will verify the fingerprint and approves transaction. This will reduce burden for user to memorize a lot of PIN and password. Because normally credit card user will likely to use their birthday date as pin or just 1234.
We have to admit that there is no perfect system. Same goes with fingerprint technology. According to New York researchers, they already created synthetic master prints that can imitate people’s fingerprints.
Although none has been tested on real handphone, the researcher only tested it on computer simulation, but the technology rapidly improving.
Believe it or not, even smart highly educated can be tricked into this phone scam.
The fraudster can be so calm and professional thus make you believe that he is from the bank.
He/She will create an emergency situation regarding your bank account. It can be anything. From to confirm a credit card transaction that was charged to your card. Or someone just called to confirm that you have apply for new credit card. If you deny it, the fraudster will give a fake number of Bank Negara for you to call.
The complice from Bank Negara will ask for your confidential information and bank details.
If you are panic and in a hurry you might fall to this trap. So please be very careful whenever you received a call from a bank.
How to Identify Telephone Scams Call
When you hear this any of this 6 statement. Then you better be careful.
“Give your username, ATM card number in order for us to investigate your account”
“Do not check your account and tell anyone for at least 3 days”
“Kindly call this number to speak to the Bank Negara Officer”
“Change your TAC mobile number at ATM”
“You have a pending credit card payment”
“Someone is using your info to apply for a credit card”
What you should do if you received a scam call?
DO NOT reveal your credit/debit card details or online banking details
DO NOT respond to any sms that claiming it’s coming from Bank Negara. Bank Negara officer will never call you to ask for your credit/debit card or banking particulars.
A lot of companies are promoting their amazing, foolproof forex strategies these days, but how many of them actually work? It’s hard to answer this question without taking an extensive researchand even then you might not have the perfect answer. So, how do you start trading forex with the strategy that works?
Which Forex Strategies Can Make You Money?
The fact is that there is no-one on the planet who can claim that they have guaranteed forex strategiesthat will make money. All forex traders are operating in a real-life, global market that is influenced by the actions of other traders. Those markets are unpredictable just by virtue of being influenced by so many people. Educated traders can make very well-informed guesses about how the markets will move – but they are still just that – guesses.
The best strategies for trading forex are ones that operate based on an understanding of how the markets have moved in the past. Traders can look at current trend lines, and then try to understand what that means for the future. These strategies are based on something called technical analysis, and they are a sound starting point for any would-be trader, not least because platforms such as Meta Trader have built-in charting features that will make it easy for you to create overlays to inform your decision making. (more…)
Until recently one of my wife officemate told us that he send money thru bank transfer from TEB to Maybank and its transfer fee is not that expensive. Later I found out that the reason that I was told USD 100 because I did not have account with TEB.
Only my wife has account with TEB. My wife officemate gave a copy of form that he used to send money to Malaysia with TEB. He said that TEB only charged 150 TL to send USD 1000 to Maybank.
So we took the copy of his Bank Transfer form, and show it to the lady at the counter so that we can get a new form. Filled in my wife Maybank account and Maybank Swift code : MBBEMYKLXXX.
Did You Know
Then, my wife provide her KIMLIK or Turkish temporary ID and TEB account book. Then we paid TL150. After that the TEB lady process our form.
You know how long it takes to process our bank transfer ? 5 minutes only. TEB lady said, ok done. Wait for 2 working days,
You know how long it takes for me to que at Yapi Kredi for Western Union …..1 hour and still sometime the service is down. Plus I need to pay more to send money by Western Union, USD 78 around TL 227. Then my brother in Malaysia need to collect the money from the post office and transfer back to my Maybank account. You know how hard it is.
By Bank Transfer, I only have to wait 2 working days then from Maybank2u I can make all necessary transaction. Yes I know,By using Western Union, money can be collected immediately after transfer but due to different time zone, my brother usually collect the day after. If and only if Western union is not problem.
So no more worries about waiting and queuing for hours at Yapi Kredi bank. Just go to TEB Bank with my wife on payday, fill in the Bank Transfer form. Tell the TEB lady to deduct straight from bank account. Wait for 2 days and walla! money in Maybank.