Anyone tried GXBank? Feedback?

[eeevie]

Any current GXBank user here? Share with us your experience!

I originally wanted to download it last month, but cut the plan short when I read some of the 1-star reviews on Apple App Store (not sure what’s the case for Google Play). Some of the users have stated that their money was lost after depositing, and generally just a lot of glitches. Is it more reliable now that Grab’s app is actively endorsing it?

 

[mattmanticus]

@eeevie user since nov 23(collected all the opening goodies, cashback, grab points, etc) I was skeptical at first, but after 6 months, i have moved over to GX as my main bank account with all my liquid cash in it (I also have maybank/UOB premier accounts, now both empty)

The GX app makes all the legacy bank apps look like ancient dinosaurs. MAE, UOB, CIMB. RHB apps are horrendous compared to the simplicity of GX

The GX debit card is fee free withdrawal from any atm, so i stopped bringing my maybank card out.

In 6 months...no glitches or crashes....its actually been more stable than MAE

The secret of reading reviews on any platform (airbnb, playstore whatever) ignore the best and the worst...read the middle.

 

[marouane]

@mattmanticus Gx bank debit card lets you withdraw from any atm for no fee? Unlimited times?

 

[eeevie]

@mattmanticus Thanks for the comprehensive overview. I just signed up and sadly the only opening goodies left seem to be the Rm8 cash back. Do I need to put all funds into the “saving pocket” to receive the 3% p.a interest? Or just the default “main account” is fine?

Another phenomenon with reviews is that they tend to be polarized (more 5 & 1 stars), than having more middle ground reviews to check out on.

 

[mattmanticus]

@eeevie can ignore the pockets. i leave everything in main

 

[mark58]

@mattmanticus I keep about 1k in the main account while the bulk of my savings sit in the pockets. Didn’t want to expose all that cash to my GX debit card just in case. The card utilizes only funds in the main account IIRC.

 

[eeevie]

@mattmanticus https://preview.redd.it/fqyvk0jajzr...bp&s=dea75c07b3453b1e332bee98f975d781294d0c48

Just saw, thanks!

 

[resjudicata]

@mattmanticus This kind of reply..... You must be an employee at GX lol.

 

[mattmanticus]

@resjudicata Lol nope just happy user, after decades of shitty service and products from legacy banks

Was loyal 2 decade Citibank wealth customer, then just thrown to UOB when Citibank closed all operations, months of disruption

M2U user for decades, but forced migration to MAE, which I feel is a inferior user experience

Msians are forced to use shitty legacy banks cos there is no real reason for them to innovate or improve

GX is a breath of fresh air in a very stale industry

 

[jess25]

@mattmanticus Weirdly, the only two banks I enjoy right now is GXBank and HSBC bank. At least their apps. Like I don't need all the stupid service that banks right now push to your face, It's banking, make me put money and take money. That's all

Gxbank does have good ass customer support tho, albeit i think their backend is not as good as it should be. I'm too much of an app developer nerd to see all of this LMAO

 

[eeevie]

@jess25 Curious, why do you think they have good customer support? I've never encountered anything negative so far. Just sent an inquiry on their official email to see if they truly respond / respond fast.

 

[steve109]

@eeevie They provide 24/7 In-app Live chat support.

 

[jess25]

@eeevie Their live chat is amazing. for some dumb reason also works 24/7.

 

[iamremnantband]

@eeevie Im on android, samsung to be specific, so far no gltiches. Everytime log in, keep asking for location (same like grab app) but i always deny.

Did what i needed to do to obtain those cashbacks offer (who does not love the free rm16 total).

I utilise the saving pockets, it's my most favourite feature, on top of their daily 3% return. Not to mention the 1% cashback on debit card payment. It works.

 

[eeevie]

@iamremnantband Do I need to put all funds into the “saving pocket” to receive the 3% p.a interest? Or just the default “main account” is fine?

EDIT: both are fine

 

[eeevie]

@iamremnantband https://preview.redd.it/zjiiwa6ejzr...bp&s=2019f8579c185110aafdb7f206e554aa779b3ac2

For anyone also curious!

 

[julesc]

@eeevie No issues so far, I think the app has gotten better actually. For Raya they having a 5%p.a. for a month on saving pockets but not alot of details available yet

 

[eeevie]

@julesc So far they still didn't clarify how to be eligible for the Raya 5% pa promotion. I assume it's just as usual, but 3% increase to 5%?

 

[blurredcontours]

@eeevie

Is it more reliable now that Grab’s app is actively endorsing it?

Grab owns GX Bank. Of course it will endorse it.

Call me old fashioned, but I'd rather not park my money with a bank run by an e-commerce company that focuses on supergrowth at the cost of burning through investor money; taking unfair cuts from merchants and delivery riders; and monopolizing the industry. Grab may have a good product, but the business model sucks.

If anyone thinks GXBank giving out 1% cashback on debit transactions is sustainable, not sure what you are smoking. I guess giving out 3% on savings is possible, and I am assuming they are using money-market funds. People will be tempted now because GXBank is throwing goodies, but what will happen when the music stops? Would you really want to park your money there?

This is not 100% directed at GXBank. I have a very negative view about digital banks in general.

On a side note, I'm surprised GXBank deposits are PIDM insured seeing that they are probably using MMF to make that 3%. That doesn't seem fair to other industry players like KDI, Versa, etc.

 

[juneel]

@blurredcontours Pretty sure when the music stops, most will return to conventional. GrabFood used to give a lot of vouchers, but they have stopped doing so. Hence, everyone just jump onto the next food ordering app.