For many Malaysians, especially us urban dwellers, our phones have become an intricate part of our lives. We want to have more things in control of our hands, and that includes banking and saving.
Another thing that consumers wish for is an account that is so flexible that they can control their savings without any restrictions! And what if we tell you that such a savings account exists! With FRANK by OCBC, you can have more control over your finances and manage your money using the OCBC Malaysia Mobile Banking app. Read on to find out more.
FRANK = High-Interest Savings with no lock-in period and withdrawal fee when you move your money for spending
Most of you would know how a savings account works. If your goal is to save money, the first thing you do is open one with a high-interest rate, dump your money into the account and then leave it to quietly grow because you are too scared to touch that portion in any way! But with FRANK, you can enjoy an interest rate of 1.8% per annum, as high as a Fixed Deposits rate, and still get to spend your money when you want to. How? You can split your money into a Save Pot and a Spend Pot, a feature that allows you to set the amount for savings and spending whenever you want. Simple enough, right?
There's more. With FRANK, you can easily move your money from the Save Pot to the Spend Pot without any withdrawal fee and while still earning 0.3% per annum in the Spend Pot. You can do this all via the OCBC Malaysia Mobile Banking app; you don't need to switch on your PC or visit the bank in person.
Placing the controls at your fingertips
The idea behind FRANK by OCBC is to give mobile-centric customers a convenient way of accessing their bank account. In this case, the OCBC Malaysia Mobile Banking app allows you to get things done quickly and easily.
Consumers can sign up for the FRANK Account through the app itself. After you have signed up for the account, you will need to visit your preferred OCBC Bank branch just once to verify your identity. Once completed, you can use the OCBC Malaysia Mobile Banking app to set up how much money you want to allocate in the Save pot or keep in the Spend pot for personal spending.
One more thing
If you are a new OCBC Bank customer, you will receive the FRANK Debit Card upon completion of your identity verification at an OCBC Bank branch. Its greatest advantage is the 0% foreign exchange mark-up, which means you don't have to pay extra when you spend in any foreign currency! To top it off, you can spend with the FRANK Debit Card at 400,000 merchants nationwide via contactless payment and withdraw at around 14,000 ATMs, anywhere in Malaysia.
Interested in signing up for a FRANK Account? If so, go ahead and download the OCBC Malaysia Mobile Banking App on Android, iOS, or Huawei. You can also find out more about it from the official website.
So what do you think about FRANK by OCBC? Let us know in the comments section below and do stay tuned to TechNave.com for more articles like this.
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