Over 100,000 Malaysians Signed up for GXBank’s Physical Debit Cards in 2 Weeks
by Fintech News Malaysia March 4, 2024Malaysia’s first digital bank, GXBank, announced that it has surpassed 100,000 debit card users, just two weeks after launching its physical cards.
This milestone builds on the bank’s rapid growth since its public launch in November 2023, when it also garnered over 100,000 users in less than two weeks.
GXBank initially offered virtual debit cards, but physical cards are now available to all customers. The bank expressed gratitude to its customers for adopting the new service in a LinkedIn post and highlighted the valuable feedback that it had received during the early stages.
The debit card features include unlimited 1% cashback and no hidden fees for overseas 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 has also acknowledged the importance of partnerships in its success, specifically with ecosystem partners like Grab and Jaya Grocer, as well as its payments partners PayNet (Payments Network Malaysia) and Mastercard.
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.
