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KWSP Malaysia for Monthly Housing Loan Payment [ March 13th, 2010 ] | 454 views | 3 Comments

kwsp_malaysia

I heard a lot of forumer keep on discussing about this issue recently - KWSP steal citizen money! KWSP allow monthly withdrawal from EPF account 2 for the monthly housing loan repayment. But, from their discussion, some of them said that the withdrawal plan is actually a SCAM! I am sure you will feel keen to know more on this issue, right? Let me share with you what I’ve heard:

We take an assumption here:

If you have RM50,000 in your EPF account 2 and your monthly housing loan’s installment is RM1000/month. KWSP will approve your application of withdrawal from your EPF account 2 of RM50,000 and pay you RM1000/month for the next 50 months.

The only thing that KWSP did not inform us in detail is that when the application was approved, will the total amount RM50,000 is removed from EPF account 2? In the other words, it appears to be transferred to an unknown account to effect the monthly payment?

Western Union Vs MoneyGram

moneygram_westernunion

Most of the people know to make use Western Union when sending money from 1 location to another location, thus Western Union is the most well-known money transfer service around. And, it has more agent locations than other money transfer services. But, do you know what is the main competitor of Western Union? Yes, it’s MoneyGram, actually it’s almost same like Western Union. The procedure is quite simple and it just takes a few minutes to fill out the form and then your money can be sent to the receiver who is stay another side of the world.

As I known, MoneyGram also offer the services like make payment for your utility bills (e.g gas, phone, water, electric and so on). Perhaps in future, I will try to make use of this service to pay several of my bills each month. Furthermore, it also allows you to use its service to top up some fund into your prepaid credit cards.

Why I Rather Prefer To Use Western Union Than Cheque?

Withdraw Payment Via Western Union

Last time when I went to Public Bank, the only thing that makes me feel curious is the new payment option, which available now in Malaysia – Western Union. I did use paypal but never use Western Union before. After done a lot of research, I found that the difference between Paypal and Western Union is not much. Paypal is owned by eBay and more advertises on security issue whereas Western Union does not but you will know whom you are sending money to.

Western union send money

There are 4 Malaysia Western Union Options currently:

=> POS Malaysia Berhad
=> CIMB Bank (charge additional US$15 for US cheque greater than US$1000, from other people opinion).
=> RHB Bank Berhad(exchange rate will be better a bit, from other people opinion).
=> Public Bank Berhad

In other countries, there have more Western Union agent locations. You can find it in POS office, banks, supermarkets, travel agencies, airport, train and bus station, and currency exchange offices.

Advantages of Using Western Union