Page 24 - PUBLIC BANK & AIA INSURANCE COMPANY

PART B: BANKING PRODUCT & SERVICES

CONSUMER PRODUCT

1. ATM OF PUBLIC BANK BERHAD

ATM stands for Automated teller machine and is a computerized system that enables the customer

to do financial transactions easily. It is an electronic banking outlet that enables customers to perform
financial transaction without the need of their bank branch representative and teller. ATMs are a
convenient and safe means of managing your fund and doing financial transactions.

The characteristics for ATM are it enables customers to check the balance of their bank account,
deposit or withdraw money, print account statements, transfer of money between your accounts.
Next, ATMs provide 24 hrs. a day and 7 days a week service to bank customers. ATM also is a

special type of plastic card that contains user information in a magnetic strip which helps in
identification and authentication of user’s details.

For the advantages, they provide convenience to customers and offers 24 hours service of

operation. Other than that, it reduces banks workload. It also enables access to bank account from
anywhere. Finally, it minimizes Transactions Cost. But ATM also have the disadvantages which are

involves charges Fees and limitation on Cash Withdrawal. Next, there are possibility of Frauds. Lastly,
non-reachable in rural areas.

2. CREDIT CARD PUBLIC BANK

Credit card let an individual borrow money at the point of sale to complete a purchase. These cards
are used by a customer to get goods and services on credit. The cardholder which is the borrower

must repay the bank for what they have purchased. Credit card has a limit on the amount to be used.
For example, Public Bank Credit Card with a line of credit granted to the Cardmember and where any
amount of the credit utilised by the Cardmember has not been settled in full on or before a specified

date, the unsettled amount will be subject to finance charge. A few examples of PB Credit Card are
PB Visa Infinite Credit Card, PB World Mastercard Credit Card, PB Visa Signature Credit Card, PB
Visa Platinum Credit Card and many more.

Credit card have a few advantages which are the Cash MegaBonus, the cardholder of PB
Visa/Mastercard Gold, PB-AIA Visa Gold, P-Petron Visa Gold, PB Visa Platinum, Mutual-Gold PB
Visa Platinum and PB visa Infinite will earned a Cash MegaBonus monthly that will be credited on the

Card Account. Next, Cash Bonus, for Mutual Gold-PB Visa Platinum Credit Card receive an additional
of 0.3% Mutual Gold Cash Bonus on monthly retail purchases will be accumulated based on the past

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