HLB offers new SME merchants 0% fee on debit card transactions


Personal financial services managing director Charles Sik said the merchants will get notable savings upon onboarding and all transactions going into the point-of-sale terminal will not be charged, as opposed to the usual rate of about 1%

KUALA LUMPUR: Hong Leong Bank Bhd (HLB) is offering new small and medium enterprise (SME) merchants a 0% fee on debit card transactions in conjunction with its Chinese New Year “Renew Together, Prosper Together” campaign.

Personal financial services managing director Charles Sik said the merchants will get notable savings upon onboarding and all transactions going into the point-of-sale terminal will not be charged, as opposed to the usual rate of about 1%.

He said new merchants also stand a chance to win up to RM10,000 by joining HLB’s ‘PaySafeLah’ photo contest with #hlbpaysafelah #mydebitje.

“We have curated a host of ‘Ox-picious’ offerings to help everyone re-energise their finances this Chinese New Year.

“We will also be rewarding businesses which embrace going cashless, while making sure the ang pow giving and receiving tradition lives on through digital means, ” he said in a virtual media conference yesterday.

In addition, Sik said the bank is also offering a rate of 2.40% per annum for six months to customers who place their fixed deposits online from Feb 11-26.

“Also, those who deposit RM888 on Feb 28 is able to earn 10 entries and stand a chance to win a 20.21% per annum one-day bonus interest/profit.

“With online personal loans, people can enjoy a 5% per annum flat interest rate, ” he said, adding that there will be a 0% sales charge offer for first-time savings plan subscriptions and a 2.5% sales charge for the next 12 subscriptions.”

As part of the campaign, the bank is giving away a special Swarovski crystal bowl set and Eu Yan Sang YEN bird nest drink with a minimum annual insurance premium of RM36,000.

“It is limited to the first 100 who sign up for the bank’s Regular Premium Plan that offers up to 4% per annum fixed deposit rate, ” Sik said. Until March 31, Hong Leong Islamic Bank’s Term Investment Account-i, a syariah-compliant investment account, is providing an indicative return of 2.35% per annum for three months and 2.40% per annum for six months. — Bernama

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