News Room

RHB Banking Group’s Cash-Connect and My Cash-i Debit MasterCard cards for Malaysians on the go - Debit program scores another industry first

Kuala Lumpur, 18 August 2008 :The RHB Banking Group launched the RHB Cash-Connect and Islamic My Cash-i debit MasterCard cards in line with its commitment to promote simplified banking. Together, they are the first debit cards in the world to bear the special mc² design.

A debit card is an ideal payment tool that helps one manage his or her money more effectively. RHB Cash-Connect, and its sister card My Cash-i, are debit cards that provide convenience and are a new and better alternative to cash and cheques.

The RHB Cash-Connect and My Cash-i debit MasterCard cards provide access to funds worldwide through the MasterCard Cirrus Network, and locally through the MEPS Network respectively. Both of these cards are accepted at all merchants that recognise the MasterCard brand name and trademark. Therefore, customers need not worry as they can look for the nearest ATM machine when lacking cash as they are literally carrying their bank account with them in the form of the RHB Cash-Connect or My Cash-i debit card. Both function very much like any other payment card and can be used to make purchases at retail outlets, restaurants, petrol stations, among other merchants, locally and internationally.

Mr. Michael Barrett, Group Managing Director, RHB Banking Group, said, “With our 0.5% cash back feature, RHB Cash-Connect and My Cash-i debit cards not only enable our customers to get more out of their spending – these cards also help them manage their funds effectively. It’s our way of thanking our customers for choosing to bank with RHB. The debit cards are effective payment tools for monitoring and controlling household spending.”

“As a special incentive during the introductory period, RHB Bank will be providing RHB Cash-Connect customers with a high interest rate of 3% per annum for the first three months. For My Cash-i customers, they will enjoy easy access to the Global MasterCard Network via the RHB Wadiah Savings account,” added Barrett.

“In addition, customers will have the opportunity to participate in the Deposit & Win contest which is available for a limited time, and stand to win one of three weekly prizes worth RM5,000 each, comprising grocery and petrol vouchers as well as electricity rebates. With the recent petrol price hike and rising cost of living, we’re certain that customers will look forward to participating in this contest,” Barrett said.

“The appeal of debit cards lies in consumer behaviour. With a debit card, consumers can enjoy the convenience of cash without carrying any. They will have peace of mind as it is indeed a safer and more convenient alternative to cash. As Malaysia continues on its national e-payments roadmap, multi-application programs such as this one can help accelerate the country’s vision of becoming an e-banking savvy society,” said Barrett.

According to Mr Jim Cheah, Vice President and Senior Country Manager, Malaysia and Brunei, MasterCard Worldwide, “The launch of the RHB Cash-Connect and My Cash-i debit MasterCard cards are a testament to MasterCard’s commitment to creating a safer and more convenient cashless payment environment for all consumers. We congratulate RHB on introducing the world’s first multi-application EMV combi mc² debit MasterCard card as it reaffirms the industry’s efforts in creating a more convenient and cost-effective method of payment for its consumers.”

For more information on RHB Cash-Connect or My Cash-i debit programs, please call RHB Toll-free 1-800-888-SAVE (7283), visit www.rhb.com.my or walk in to any RHB Bank/RHB Islamic branch nationwide.

Issued on behalf of RHB Bank Berhad by Group Corporate Communications Division, RHB Capital Berhad. For more information, please call Eza Dzul Karnain at 012-3420060 or Sandra Foo at 012-3188412.