Alliance Bank redefines cash for prudent everyday spending

Kuala Lumpur, 8 September 2008 - Alliance Bank Malaysia Berhad (Alliance Bank) is set to lead the way in cash management with the launch of its Alliance Debit MasterCard card, which is linked to the interest-bearing Alliance Hybrid Account with rates of up to 2.8%, one of the highest currently offered in the market.

Two of its cards, the Alliance Debit MasterCard Platinum and Premium cards, are the first of such products introduced in the Malaysian market for the mass affluent segment, while the Standard card is specifically for the mass market segment.

"Malaysians today are looking at various means to enhance their financial security and flexibility particularly in view of rising prices. The Alliance Debit MasterCard card will redefine the way cardholders plan and manage their cash. It will put more money back into the pockets of its users and encourage greater financial management," said Group Chief Executive Officer of Alliance Bank Malaysia Berhad and Director of Alliance Financial Group Berhad, Datuk Bridget Lai, during the launch.

"The launch of the Alliance Debit MasterCard cards is a testament to MasterCard's commitment to creating a safer and more convenient payment environment. With a debit card, consumers can enjoy the convenience of cash without carrying any and peace of mind because it is a safer alternative; they have greater control over their money and can be assured that they will be accepted everywhere the MasterCard brand is recognized," said Jim Cheah, vice president and senior country manager, Malaysia and Brunei, MasterCard Worldwide.

"The appeal of debit cards lies in consumer sentiment and behaviour as debit cards offer consumers an alternative payment choice that makes paying for things easier, said Cheah. "We congratulate Alliance Bank on introducing the country's first Platinum and Premium Debit MasterCard cards as it reaffirms the industry's efforts in creating a more advanced, convenient and cost effective method of payment for mass affluent consumers."

Alliance "Redefines Cash"
Hailed as the card that "redefines cash", the Alliance Debit MasterCard card gives its cardholders the highest percentage cash rebate, that is, up to two per cent on all purchases without time limit regardless of the amount spent. This allows them greater control over their finances as they get more for every Ringgit they spend. There is no minimal spending requirement, and the rebate is applicable at all MasterCard merchant outlets both in Malaysia and abroad. The cash rebate will be credited into, and reflected in, cardholders' Alliance Hybrid Account monthly statements. In short, the Alliance Hybrid Account offers high returns on every Ringgit cardholders saved.

For cardholders who lead busy lifestyles and are unwilling to set up standing payment instructions, the Alliance Debit MasterCard card offers an avenue for them to track their payment against late charges or penalties.

The Alliance Debit MasterCard card offers rebates on all point-of-sale (POS) transactions worldwide. At present, the debit card is welcomed at over 27 million merchants that accepts the MasterCard card. In addition, the Alliance Debit MasterCard card also functions as an ATM card, enabling cardholders to withdraw their money at ATM locations in Malaysia and worldwide.

Secure, Convenient and Innovative Cash Management Tool
Alliance Bank offers three different selections of the Alliance Debit MasterCard card: the Premium, Platinum and Standard. This secure, convenient and innovative cash management tool allows cardholders to personalise their ATM and daily spending limit.

To be part of the Alliance Debit MasterCard card revolution, cardholders will need to subscribe to the Alliance Hybrid Account service. To date, Alliance Bank has more than 5,000 Privilege Banking and over half a million Current and Savings Account (CASA) customers.

Datuk Lai added, "We recognise that needs and preferences of our customers may differ at different stages of their lives. As a customer-centric bank, our aim is to provide our customers with financial tools and solutions that will allow them to live the lifestyles they deserve. Thus, we are committed to walk the talk on coming up with innovative alternatives that will help them with their financial management, more so in the current challenging times. The Alliance Debit MasterCard card is one such tool that we hope will encourage and inculcate prudent spending, allowing greater control over finances."