Rewards Debit Cards in Malaysia

Debit cards in Malaysia provide a number of offers and privileges. Some of these cards offer reward points for transactions. These rewards points can be exchanged for items from the bank’s rewards catalogue, or can be converted into air miles. Let’s take a look at some of the debit and Islamic debit cards providing rewards in Malaysia.

Top Banks Providing Rewards offer in Malaysia

Bank Name Card Name Rewards Offer Annual Fee
CIMB CIMB Debit Mastercard Earn 1 bonus point with every RM4 spent on the card. Waived for the first year. RM15 from the second year onwards.
Citibank Citi Debit & ATM Card Get reward points with every transaction. No annual fees.
UOB UOB Debit Mastercard Get SMART$ with every RM spent. RM8.

Islamic Bank Reward Points Debit Cards

Bank Name Card Name Rewards Offer Fee
CIMB CIMB Debit Mastercard Earn 1 bonus point with every RM4 spent on the card. Waived for the first year. RM15 from the second year onwards.
BSN Malaysia Bhd. BSN Debit Card-i Get access to loyalty and rewards programme with the B Infinite Loyalty Program (previously known as BCard Loyalty Program). Waived for the first year. RM8 from the second year onwards.

Types of Rewards

The cards mentioned here provide rewards on almost all transactions. Depending on the debit card you choose, certain transactions such as fuel purchases will not be considered for rewards. You can use these rewards to select any item of your choice from the respective rewards catalogue provided by the banks.

Features & Benefits of Rewards Debit Cards

CIMB Debit Mastercard (both regular and Islamic)

  • Earn 1 Bonus Point with every RM4 spent.
  • Make transactions all over the world with the support of the Mastercard network.
  • No replacement charges for manufacturing defects in the debit cards.
  • Withdraw cash from any ATM under the CIMB Bank ATM Regional Link.
  • Set standing instructions for your monthly utility bills and save on late payment charges.
  • Wave and pay with the Contactless facility available with the card.
  • Get SMS alerts for every transaction and monitor your expenses carefully.
  • Enjoy the safety of 3D Secure payments with One-Time Password (OTP) Authentication Codes sent over SMS for participating 3D Secure merchants.
  • Protect account details with the Chip & PIN technology available with the card.
  • Set daily purchase limits between RM1,000 and RM10,000.

Citi Debit & ATM Card

  • Get cash from more than 1.2 million Citibank and VISA Plus ATMs at over 100 countries.
  • Withdraw cash from the Citibank Banking Center, which is open 24 x 7.
  • Get access to a number of special offers and privileges with discounts at over 25,000 outlets located worldwide.
  • Enjoy a travel insurance with a cover of up to RM350,000 under the complimentary Sign & Fly coverage.
  • Make secure transactions with the embedded EMV-compliant SmartChip.
  • Get reward points when you make transactions with the card. These reward points do not have any expiry period.
  • Get protection against theft or accidental damage of up to a month for your purchases under the Retail Purchase Protection Plan, and get reimbursements of up to 50% of the value.

UOB Debit Mastercard

  • Set standing instructions for your monthly bills and enjoy on-time payments for all essential services.
  • Enjoy exclusive discounts on shopping, dining, and other services with this card.
  • Make contactless payments at enabled outlets in Malaysia.
  • Get assistance immediately with the UOB 121 Phone Banking service.
  • Make controlled spending with limits on point-of-sale (POS) transactions, online purchases, cash withdrawals, and MEPS fund transfer functions.
  • Pay for your utility bills, insurance premiums, and phone bills with UOB PayOnline.
  • Make secure transactions with the PIN & Pay service available on your card.

BSN Debit Card-i

  • Enjoy worldwide acceptance at all Visa enabled Shariah compliant merchants.
  • Make easy payments directly with your card for daily expenses such as petrol, dining, and others.
  • Get access to any Ejen Bank Berdaftar (EBB) services at any EBB outlet
  • Enable automatic bill payments with standing instructions for utilities and others.
  • Pay without swiping at any contactless enabled merchants in Malaysia for your retail transactions.
  • Withdraw cash anywhere in Malaysia and overseas from Visa enabled ATMs.
  • Make secure payments with the PIN & Pay functionality of the card.
  • Track your payments effectively from the BSN internet banking facility.
  • Make overseas transactions upon activation with the overseas banking facility.
  • Get a control on your expenses with purchase limits on the card.

How Do Rewards Debit Cards Work?

With every transaction, reward points are added to your account. You can check for the available reward points that you have earned from the bank website when you log in with your account. Generally, these reward points come with a validity. Make sure that you check the fine print carefully so that the reward points do not expire without your notice.

Why Choose A Rewards Debit Card?

Rewards debit cards, as the name suggests, reward you for transactions carried out using the card. These rewards are in the form of points that can be used to redeem items from the bank catalogue. These points could also be redeemed for discounts or vouchers at select merchant outlets allowing for greater savings. Rewards debit cards provide other features such as contactless payments, cash withdrawals, and others.

How to pick the Best Rewards Debit Card?

The debit card offering rewards on a wide number of purchases would be most beneficial for you. These cards allow you to get the most out of your transactions. Look out for cards which also provide cash rebates or cashback along with reward points.

From the above selected cards, you can choose the Citi Debit & ATM card because it has no annual fees, making it affordable. The Citi Rewards Programme is well known both internationally and locally, and provides benefits such as travel and accident insurance. With the wide reach of Citi, you can also make instant cash withdrawals both locally and overseas. The Retail Purchase Protection Plan offered by the bank would also help you to be safe against any theft or accidental damage of retail purchases.

Eligibility

  • You need to be a minimum of 18 years of age in order to apply for the debit card.
  • The eligibility can be as low as 12 years of age for junior debit cards.
  • You need to have a savings or current account with your preferred bank for you to apply for the debit card.

How to Apply?

Most banks would allow to apply for the debit cards through both online and offline processes. You can log in to the bank’s website and fill out your details on the application form. A bank representative shall reach out to you and guide you on the necessary steps for getting the card. Applications can also be made by visiting a branch of the bank, or by calling their helpline number, if available. The essential documents for the process includes:

  • MyKad or any other identification document.
  • Proof of savings or current account.
  • Salary slips for the last three months (if you do not have a savings or current account already).

You can also apply to upgrade your card if you have an older version of the card.

How to Redeem your Rewards?

The rewards can be redeemed from time to time from the bank’s redemption catalogue for items of your choice. You can also redeem the reward points for vouchers which help you get discounts at various merchants.

FAQs

Q. What are the limits applicable on rewards debit cards?

A. Most cards have a default limit for ATM withdrawals and retail expenses. Banks would let you change the limit of the cards according to your needs. Cards with contactless functionality will also have certain limits on the daily and total transaction limits. After exceeding the total transaction limits, you need to use the PIN functionality of the card.

Q. Are there any fees levied for overseas transaction with debit cards?

A. Yes. A foreign transaction fee shall be charged for all expenses with the card. The conversion rate shall be dependent on the bank. A convenience charge, which is usually 1% of the transaction amount, shall also be charged for every expenses. These foreign expenses will also include ATM withdrawals in other countries.

Q. Do I need to activate the card for overseas use?

A. Yes. Unless specified by the bank, you need to inform the bank when you are activating the card for overseas usage.

Q. Are there more rewards to be gained from overseas transactions?

A. Generally, banks shall offer more reward points for overseas transactions. This might also include overseas transactions made online. Please read the product disclosure sheet of your chosen card in order to check out the benefits on overseas transactions.

Q. What should I do if I lose my card?

A. You should contact the bank immediately in the case of loss of your card. If it is not possible to visit a bank branch, you can call them on their helpline number and report the loss of your card. Before requesting for a new card, make sure the bank locks the lost card so that further transactions cannot be carried out.

reTH65gcmBgCJ7k
This Page is BLOCKED as it is using Iframes.