GXBank Racks Up 100,000 Users in Less Than Two Weeks Since Launch

GXBank Racks Up 100,000 Users in Less Than Two Weeks Since Launch

by December 12, 2023

GXBank, Malaysia’s first digital bank and a subsidiary of Singapore’s GXS Bank, announced that it has already signed up over 100,000 customers since its launch less than 2 weeks ago on 30 November 2023.

The newly-minted digital bank, spearheaded by CEO Pei Si Lai and Chairperson Datuk Zaiton Mohd Hassan, shared the milestone a LinkedIn post.

A key feature of GXBank’s digital offering is the GX Card, developed in collaboration with Mastercard. This debit card provides several benefits, including unlimited 1% cashback on all transactions with no fees on foreign transactions.

Cardholders will also get a RM1 fee waiver when used at 10,000+ MEPS ATM nationwide, and 1.5x GrabRewards points when users spend at Jaya Grocer.

GXBank also offers a daily interest rate of 3% p.a. on deposits when users park their money in the main accounts or “Pockets”.

The bank aims to encourage users to save for various purposes like retirement, holidays, or home purchases. The app also provides tools for monitoring savings progress and tips for achieving savings goals.

Licensed by BNM, GXBank ensures that all deposits are protected up to RM250,000 per depositor by Perbadanan Insurans Deposit Malaysia (PDIM).

The GXBank app is available for download on the Google Play Store and Apple App Store.