What is the TRUE Savers Account?
AmBank TRUE Savers is just like any other savings account, with the exception that there is more to saving that just putting money in away. This particular account is open to not only adults, but children as well.
So that means, parents you can begin instilling the values and benefits of saving money, in your children earlier on. With the minimum age being 12, your children will grow to both appreciate their money and be responsible for both guarding and expanding it.
How do I open an account?
Much like any savings account, all you have to do to open one is to deposit a sum of money upon registration. In this case the minimum amount for the opening of an account is RM20 only. If you are a parent opening an account for your child, you will need to bring along both their NRIC and birth certificate for verification. If not, then you will only need to have your NRIC with you.
With the account, you will get an ATM card, for all your day to day transactions and withdrawals. Since this is a TRUE Savers account, you will receive the TRUE Debit MasterCard.
Does this account work differently?
To a certain extent, one could say that this account is different in its management. Since the point of a savings account is to save money, this one allows for you to impose a transaction limit. Limits like this will allow you to only withdraw money or monies a few times a month, so you don’t overspend or over draw from your account.
Another thing that is different, is that you get to earn a steady interest rate on any amount in your account as long as it doesn’t fall below RM20. This means even at the smallest number you get to earn 1.8% interest which will be credited into your account every 6 months.
Do I get protection?
Yes, any amount left in your account is protected by PIDM at all times. So you can rest easy, with your wealth being looked after.