How Balance Transfer Can Save you Money

The digital highway we know as the Internet has revolutionised the way we live, and banking is no exception, with online banking facilities that save the customer both time and money. E-commerce is fast becoming the norm, and with online banking, comes a host of attractive benefits that empower the customer and allow for transfers for credit card balances, in order to avoid those deadly charges.

How does it work?

Whenever you use your credit card, you have a credit balance, and once this is reached, any further spending will incur a new level of interest, yet with credit card balance transfer, you can transfer funds from another source to bolster your card balance. If you would like to learn more about balance transfer in Malaysia, there are major banks that offer this facility, although you must be an online customer to enjoy such benefits.

Convenient Connectivity

Once you have applied for a balance transfer package, you can log in with your mobile device and make transfers at will, which will ensure your credit balance remains healthy. This is a great way to save on card charges, and is the reason why more and more credit card users are switching to online banking, so they can take advantage of the many facilities it offers.

Tenure Period

There are two tenures for the credit card balance transfer program, namely 6 or 12 months, and if you took out the one year package, you could save more than RM500, and even a 6 month tenure can see savings of around RM100, which is always welcome.

No Processing Fees

Handling charges are not a part of this program, which is very welcome, and even if you wish to end the tenure ahead of time, there are no penalties for an early exit. Online banking is all about efficiency, and this results in lower fees, and the bank is happy as their staff are more usefully employed dealing with customer issues, rather than processing money transfers. It can be very easy to miscalculate your credit card balance, and if it reaches a certain level, you will automatically incur charges, and this package allows the cardholder to top up their credit card balance, and the funds can be transferred from any source to do this.

Reduce or Eliminate Banking Fees

This system goes a long way towards reducing credit card costs, and most major Malaysian banks will offer both online banking and credit card transfer packages, and for more information, simply go to your bank’s website or drop into your local branch and talk to a representative. Modern banking is all about transparency and efficiency, and for the first time, it is not possible to manage all your finances using your smartphone.

Many card holders are unaware that these facilities are available, and if you are unsure about the benefits of online banking, take the time to learn more about it from the Internet, and you will see why so many people have made the switch already.

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