Page 24 - MAYBANK vs EPF

RM1,000. With this account, customers can deposit and withdraw their funds by
issuing cheques or using Automated Teller Machine (ATM), internet banking, e-POS

and MAS Electronic Ticketing (MASET).

While Current Account-i refers to a Shariah compliant current account that benefits

customers in terms of unlimited withdrawal at home branch, personal account holders
can make outstation withdrawals up to RM10,000 and allow a withdrawal limit of

RM1,000 per day. The minimum deposit is from RM1,000 to RM2,000 which RM1,000
is given to individual and joint current account.

The advantages of Current account:
• Convenience. Account holder can withdraw money from Automated Teller

Machine (ATM) and made payments for the goods at store using the debit card.
• Safety. Account holder is the only person that can view the transactions in the
bank account as able to see amounts of deposits, withdrawals and interest

accrued.
• Ease of paying bills. Account holders can pay for the bills through their

account such as electricity bills and insurance premiums.
The disadvantages of Current account:
• Lead to fraud. It is not secure as someone can use the debit card without the

account holder’s knowledge.
• Hidden fees. There are always hidden fees incurred into transactions either

they aware about the terms and agreement or not.
• Withdrawals limit. There is a limit of the money that can be withdrawn by
account holder per day.

c) Fixed Deposit Account

A Fixed Deposit account is a type of savings or investment account which the investor
will be given a fixed rate of interest but in a condition, the investor cannot withdraw or
access their funds until the given maturity period. The interest will be paid at the end

of the maturity period. Investor can choose the tenure of the investment either one

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