GXBank has announced some updates to the GX Card debit card, with a major revision to the daily cashback perk that had made the GX Card very popular among users. While most benefits will be retained, the 1% daily cashback on retail domestic spending will be revised to 0.1%.

The revisions will take place from 6 November 2024 and valid through to 6 May 2025. The not-so-good news is the revised cashback for domestic online and offline spending, going from 1% to 0.1%. The good news is that all other GX Card benefits will be retained.

This includes the unlimited 1% cashback for overseas offline transactions, instant crediting of cashback for local and overseas transactions, and the “zeros”: zero markups and zero fees for foreign currency transactions, zero fees for ATM withdrawals overseas, and waived RM1 local MEPS ATM withdrawals. In addition, GX Card users will continue to earn 1.5 GrabRewards points for every RM1 spent at Jaya Grocer outlets.

GXBank had previously informed users of several changes earlier in September. It began with the revision to the savings rate for the Main Account and Savings Pocket from 3% p.a. to 2% p.a. in October, and informed of a revision to the GX Card cashback rates in November.