Thursday, February 25, 2021

How to register for COVID-19 vaccination using MySejahtera mobile app

You can now register for COVID-19 vaccination in Malaysia using MySejahtera mobile app.

Before you start, make sure you have already updated the MySejahtera app in your phone to the latest version, which should be Version 1.0.29 (dated 24 Feb 2021) or above.

After opening the MySejahtera app, tap on the Close button at the top right corner to enter its main screen.


Then, tap on COVID-19 Vaccination for the registration.


On the next screen, you should be able to see "Vaccine for <your name>". Tap on it.

On the next screen, remember to tap on CLICK HERE to fill up the form. Do not tap on the Close button without filling up the form.


Fill in the questionnaire, and your registration will complete when you are able to see the Thank You screen as below.


Now, you just need to wait for your vaccination appointment message for the next course of action.

You might want to repeat the same process above for your family members registered in your MySejahtera app. Just select their name and fill up the questionnaire for them to complete their vaccination registration.


Wednesday, February 24, 2021

PTPTN announced 2020 dividend for SSPN-i and SSPN-i Plus

The Malaysia National Higher Education Fund (Perbadanan Tabung Pendidikan Tinggi Nasional, PTPTN) has just announced dividend for year 2020 for the education savings schemes SSPN (Skim Simpanan Pendidikan Nasional, consists of SSPN-i and SSPN-i Plus) on 23 February 2021.


The 2020 SSPN dividend payout rate is 4%, amounting to RM201.3 million. This rate is the same as previous payout for 2015-2019.

This 4% dividend has already been credited into our SSPN accounts respectively on 24 February 2021.

In 2020, the amount of deposits in  SSPN was RM1.99 billion, with 436,101 new accounts opened by depositors.

According to PTPTN, the number of SSPN accounts opened to date is 4.82 million.

Historical SSPN-i dividend payout rate is as below:

·   2020: 4.00%

·   2019: 4.00%

·   2018: 4.00%

·   2017: 4.00%

·   2016: 4.00%

·   2015: 4.00%

·   2014: 4.25%

·   2013: 4.25%

·   2012: 4.25%

·   2011: 3.75%

·   2010: 3.25%

·   2009: 2.50%

·   2008: 4.00%

·   2007: 4.00%

·   2006: 4.00%

·   2005: 4.00%

·   2004: 3.00%

You can proceed to the Online SSPN-i Statement of Account website to check the transactions and amount of savings in your kid's SSPN account.

You are also highly encouraged to read about Online paying PTPTN / SSPN-i with credit card through Boost.


Sunday, February 21, 2021

Did you overdraw your bank account? Here is what to do

 

Photo by Adam Satria on Unsplash


Did you mail a cheque only to be notified that it bounced? Or perhaps you tried to buy something with your debit card, and when you checked your online statement later, you were shocked to find a negative balance. You just spent more money than you have, so what do you do to fix it?

First, don’t panic. It’s not a fun situation to be in, but it happens. Follow these tips to get back in the black as soon as possible:

The Consequences of Overdrawing Your Account

The consequences of an overdrawn account depend on your bank’s specific policies. If you have opted-in to overdraft protection, then the transaction you were trying to make will still go through because your bank will cover the amount. In this instance, your bank will charge you an overdraft fee, which will likely be around $33. If you don’t have overdraft protection, though, then you may be charged an NSF fee (nonsufficient funds fee) that is a similar amount, but your card will decline, or your cheque will bounce.

Overdrawing your account now and then isn’t the end of the world if you can pay the fee, but relying on overdraft protection too often could result in your bank terminating your account. It may also report you to a debit bureau that may make it more challenging to open a new chequing account in the future.

Plus, it may not be your bank who takes action against you if you’re in the red for too long; services you pay for may cancel on you if they don’t receive payment in time. 

What to Do if You Overdraw Your Account

Those are a few examples of consequences, but what should your next steps be?

Don’t Spend Anymore

This should be obvious, but it’s worth repeating: don’t spend any more money with the overdrawn account. It’s understandable if you have essential expenses coming up, but don’t use the account at all, if possible. Check on your upcoming subscriptions or auto-payments that could put your further in the red. Only once you have replenished your accounts’ funds should you resume spending.

Keep in mind that if you don’t have a backup source of money, then your bank will automatically use your next deposit to cover your negative balance. Your negative balance likely includes the fee, so factor in this change for your monthly budget.

Replenish Your Funds

You probably guessed this one, but replenish your account as soon as possible. Don’t let it remain negative for too long, or your bank may charge you extended overdraft fees, which can accumulate quickly. Use your savings or another backup account to bring your overdrawn account back up to zero, preferably higher.

If you don’t have any other sources of money to make your checking account positive again, then consider borrowing from someone you trust, picking up a side-gig, or selling items you don’t need.

Another option is to use Earnin, which allows you to access your income on time if your bills are due before your paycheck arrives. Pay cycle delays may have been the reason you overdrew your account in the first place, so next time, you can use Earnin to take out up to $100 per day, $500 per pay period, and avoid paying overdraft or NSF fees. Earnin then deducts the amount you used from your paycheck once it’s deposited.

Check if You Were Charged Overdraft or NSF Fees

You have to opt-in to overdraft protection, but if you aren’t sure whether you have it or not, it’s possible you signed up for it without realizing what it is. Though you’ll know when making a debit card purchase immediately (the card will decline if you don’t), double-check with your bank if you realize you are about to overdraw your account with a written check. In this situation, you have time to contact your bank and the recipient and void it before it’s deposited. Likewise, look for an NSF fee on your account so you can pay it before you plan next month’s budget.

Contact Your Bank

If you attempt to make a transaction that overdraws your account, contact your bank’s customer service center and find out if they can remove any fees that will put you in further debt. It never hurts to ask, and the worst thing they can say is no. Bank representatives may be even more inclined to help you out if you have been an outstanding customer in the past or if you explain your situation to them.

Enable Low Balance Alerts

You can connect various apps to your bank account that will notify you when funds are running low (including the previously mentioned Earnin). This way, you’ll know how much money you have in your account before you attempt to make a purchase with non-sufficient funds, and you can avoid an NSF or overdraft fee altogether.

Overdrafting your bank account can be alarming, but here are strategies you can use to get back in the black quickly and (hopefully) avoid paying additional fees.

  

This article originally appeared on Earnin.

  

Please note, the material collected in this blog is for informational purposes only and is not intended to be relied upon as or construed as advice regarding any specific circumstances. Nor is it an endorsement of any organization or Services.


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