For those looking to increase their retirement savings, the Employees Provident Fund (KWSP) has announced that members can now use their debit cards to make self-contributions to their EPF accounts.
You can now make contributions via debit card
According to the information released by KWSP, members can visit KWSP branches or use the Mobile TEAM KWSP to make contributions via debit card.
This means that members can directly go to KWSP branches, inform the officials of their intention to deposit into their EPF account, and then proceed to swipe their debit card to make the deposit.
This is particularly good news for those who are not tech-savvy or prefer not to use online banking for transactions.
i-Akaun app does not support debit card feature for now
However, it’s important to note that the current KWSP i-Akaun App does not support deposits using a debit card at the moment.
Deposits can only be made through online banking on the app. Therefore, those wishing to use their debit cards for EPF contributions will need to visit KWSP branches in person.
For more details, individuals can visit the official KWSP website here.
It’s worth mentioning that KWSP has allowed members to make self-contributions since last year. For those interested in more details, they can refer to the article on “Frequently Asked Questions about Self-Depositing into EPF.”
Additionally, a few months ago, KWSP announced an increase in the limit for self-contributions, allowing members to deposit up to RM100,000 annually.
