What is this Mach by Hong Leong Money Box Deposit Account?
It may not be advertised outright, but the Money Box Deposit Account can either be a simple checking account, with up to 5 free IBG transfers via Hong Leong connect a month OR you can transform it into a savings account, which will allow you to accumulate interest earnings for deposits of RM10,000 and above.
How do you switch features? Easy, it can be done using Hong Leong Connect. Bear in mind that you will need to change it at least two days before the start of each quarter.
How is this Money Box Deposit Account any different from regular deposit accounts?
There are a few features and benefits that separates this account from the rest of the pack:
- Easy 24/7 cash management - view all of your account history without consulting the bank with Hong Leong Connect.
- As mentioned above, you can change the feature of the account easily, depending on your needs.
- Compliment your deposit account with Mach products such as the Dream Jar Savings Account, Fixed Deposit and MyPal services.
What is the MyPal convenience line?
This is a very useful feature especially when you are most in need of money. It is a cash advance service that will allow you up to RM200, as simple as that.
How can I be eligible for this account?
You can apply for the Money Box Deposit account if you are a Malaysian citizen, with a valid MyKad and 18 years old or older. Upon approval, you will be getting a new Hong Leong Mach Debit Card.
Is my account eligible for protection by PIDM?
Yes of course! Your deposits will be insured for up to a maximum of RM250,000.