AFFIN Group(Affin) has today (27 February) launched the much anticipated AFFIN Savings Vault/-i, a new service for customers who are looking for a peace of mind when it comes to security against fraud and unauthorised transactions.
Affin is the first local bank to introduce such a service across the country where the new feature available now for customers leverages on their existing Savings Accounts.
The AFFIN Savings Vault/-i allows customers to lock their funds in a designated account, making it difficult for funds to be hacked digitally or arising from unauthorised transactions. Customers will be able to lock up their funds using mobile banking app or internet banking. Customers need to then visit the bank branch to unlock the funds by verifying their identity. The feature it said is available to all new and existing current and savings accounts customers.
Among the key features of the service include minimum initial deposit amount of RM100, enhanced protection against scams and the allowing of customers to only unlock the money in person at the bank branches. Customers have also the flexibility to release all or part of the locked funds as needed, through in-person transactions at the branches with mandatory identification verification.
- President & Group Chief Executive Officer of Affin Bank Berhad, Datuk Wan Razly Abdullah said, “AFFIN is proud to introduce a new safety feature using existing Savings Account that allows customers to ‘lock up’ funds, in the latest move to guard against scams. At AFFIN Group, we have proactively implemented a comprehensive set of robust anti-scam measures, making significant investments in technology upgrades. These initiatives not only strengthen our multi-layered defence against scams and fraud but also contribute to a national effort to combat such financial threats, showcasing our dedication to security on a broader scale.”
“The introduction of AFFIN Savings Vault/-i is timely and showcases the Group’s commitment in providing a safer banking experience for our customers. With the escalating threat of digital scams and cybercrime, we are raising the bar for security standards to provide our customers with ease of mind, knowing that their funds are safeguarded from any fraud and digital threats.”
