Boost Bank has finally announced a cashback scheme for its debit card, which made its debut last month. The feature was teased as part of the digital bank’s upcoming Year End Countdown campaign, but it has not offered up any details yet.
A 2% cashback offer would be the highest we have seen from a digital bank so far. GXBank previously provided a 1% cashback programme through its debit card, but it recently rolled it back to 0.1% for local spending, while AEON Bank reduced its points cashback programme from 1.5% to 0.5%.
That being said, we still don’t know the terms and conditions of this cashback programme, such as how long it will last and whether it will apply to local or overseas spending. For now, the only cashback that the card offers is RM10 for new users, which is limited to the first 100,000 participants.
The debit card is also waiving its RM8 annual fee for the first year of use while its other fees include a RM1 fee to withdraw from local MEPS ATMs, RM12 for overseas ATMs, and a 1.25% conversion fee when spending overseas. Another offer as part of its new campaign is a 3.6% interest rate for its CelcomDigi savings jar, but notably, this is lower than the 4% it initially offered the telco customers.
(Source: Boost Bank)
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