If you’re an Amanah Saham Bumiputera (ASB) unit holder in Malaysia and you want to withdraw your ASB money without the hassle of going to a physical branch, you’re in luck. The ASNB (Amanah Saham Nasional Berhad) has introduced an online withdrawal feature, allowing you to access your funds conveniently. In this guide, we’ll walk you through the process of withdrawing ASB money online in Malaysia using the myASNB portal or app.
Benefits of Withdrawing ASB Money Online
Withdrawing ASB money online offers several advantages:
- Convenience: You can access your funds from anywhere with an internet connection, saving you time and travel.
- Security: Transactions are secured with user IDs, passwords, and one-time passwords (OTPs) sent to your registered mobile number.
- Speed: The online withdrawal process is quick, and you’ll receive your funds in your registered bank account the next working day.
Prerequisites
Before you can withdraw ASB money online, make sure you have the following:
- myASNB Account: Register for a myASNB account if you haven’t already. You can do this on the official website (https://www.myasnb.com.my) or by downloading the myASNB app from Google Play or the App Store. You’ll need your IC number and a valid phone number for registration.
- Registered Bank Account: Ensure you’ve registered your bank account details with myASNB. You can do this by visiting any ASNB branch or agent and providing your bank account information. You can register only one bank account per myASNB account.
Once you have these prerequisites in place, you can proceed with the withdrawal process.
Step 1: Log in to the myASNB Portal or App
- Visit the myASNB portal at https://www.myasnb.com.my or open the myASNB app on your smartphone.
- Choose your preferred language (Bahasa Melayu or English).
- Click on “Log In” at the top right corner.
- Enter your user ID and click “Continue.” You’ll be shown a security phrase you’ve chosen during registration for verification. If the security phrase is correct, click “Yes.” If not, do not proceed.
- Enter your password and click “Log In.”
Step 2: Access the Redemption Section
After logging in, you’ll see your portfolio summary, displaying your member number and a list of unit trust funds you’ve subscribed to. To initiate the withdrawal process, click the “Transaction” button next to the fund you want to withdraw from and select “Redemption.”
Step 3: Acknowledge Declaration
In the “Declaration” section, read and acknowledge the investment disclaimer and minimum criteria by ticking the box that says, “I have read, understood and agreed with the Terms & Conditions statement, Investment Disclaimer, Minimum Criteria for Transactions, including all notices in all matters above.”
Step 4: Enter Withdrawal Amount
In the “Redemption Details” section, enter the amount you wish to withdraw from your ASB account. Note that there is a minimum withdrawal amount of RM100 and a maximum of RM500 per month. You’re limited to three transactions per month. The amount you enter will be deducted from your unit trust account and transferred to your registered bank account. You’ll also see an estimate of the number of units and their value based on the latest price. Click “Next” to proceed.
Step 5: Confirm Withdrawal
In the “Confirmation” section, you’ll need to verify your identity by entering the OTP sent to your registered mobile number. After entering the OTP, click “Confirm.” You’ll receive a confirmation message indicating the success of your transaction. A confirmation email with the transaction details will also be sent to you. Your funds will be transferred to your registered bank account on the next working day.
Tips for Withdrawing ASB Money Online
Here are some tips to keep in mind when withdrawing ASB money online:
- Ensure you have sufficient funds in your unit trust account before initiating a withdrawal.
- Keep your phone number and bank account details up to date with myASNB by visiting any ASNB branch or agent.
- Maintain a stable internet connection while performing the withdrawal.
- Keep your myASNB login ID, password, and OTP confidential to prevent unauthorized access.
- Consider the long-term benefits of keeping your money in ASB, as it offers consistent returns and dividends.
Withdrawing ASB money online offers a convenient way to access your funds when needed. It’s secure and efficient, allowing you to manage your investments without visiting a physical branch.
We hope this guide has been helpful in learning how to withdraw ASB money online in Malaysia. If you have any questions or feedback, please feel free to leave a comment below. Happy investing!