This came very much as a surprise to me. Read it first at Jeff Ooi’s Screenshots that Maybank2U will be charging RM 12 per annum (in 2 half yearly payments of RM 6 each), as covered here.

I’m not at all happy at this sudden change of terms for the service. I have a savings account, an i-account (Internet-based current account), 6 credit cards (well, all on the same credit limit, 3 for myself, and 3 being supplementary for my mom), and a business current account with Maybank. As such, I have 2 separate Maybank2U accounts, one for my personal banking, the other for business.

What the new terms means to me is that I have to pay RM 24 per annum just to maintain the Maybank2U online banking access and privilege. Well, it may not appear to be much, but this sudden change with less than a month’s notice (effective 20th December 2004) is really catching a lot of users off-guard. Some other users may argue about the ATM charges of RM 0.50 per withdrawal transactions above the first 4 transactions per month, but I can still accept that as being reasonable. Perhaps because Maybank doesn’t charge for the new Maybankard ATM chipcard when it was introduced, while some other banks charged a fee for that.

What really irked me is that how they’re changing their stand on the i-account, labeled as the Internet banking account. What’s an Internet banking account without default/free access to the Internet banking facility? If Maybank2U wants to charge other account holders (savings, business, etc) for Internet banking facilities, it’s justifiable. But charges extra for the features that was supposed to be the main feature of the account? This is just plainly unreasonable.

Of course, I can choose to convert my i-account to a standard current account, but losing the Internet banking facility would also mean losing the ability to get my monthly statements online. And if I were to get printed statements from the bank branch (read: hassle), then I will be charged RM 10 for the statement printing service PLUS RM 1 for each additional page! This is absurd! smiley

Perhaps I’ll check with Jeff on how to bring up this matter to the attention of Bank Negara. We just can’t let these corporations stomp all over us as they please!