To set up Direct Debit, review the pre-filled details and click Proceed to FPX. You’ll be redirected to your bank’s page to approve a RM1.00 transaction.
If your bank account is single signatory (B2C), you can complete the setup yourself.
If it’s multiple signatory (B2B), the checker or approver must approve the transaction to complete the setup.
Troubleshooting:
To confirm if the setup was successful, log in to your PDS account using the magic link and check your task status. A green checkbox indicates completion.
Definition:
As part of the pre-disbursal requirements, you are required to activate Direct Debit for automatic monthly payments to Funding Societies. This means you no longer need to make manual payments upon each note’s due date.
Just ensure your bank account has sufficient balance on the due date to allow Funding Societies to successfully deduct the outstanding instalment amount.
Question: What is Bank Signatory Type?
Single Signatory (B2C), A bank account with only one login ID that can perform and complete transactions independently. No maker-checker approval is required.
Multiple Signatory (B2B), A bank account with multiple login IDs where transactions require dual control. A maker sets up the transaction, and a checker authorizes it to complete the process.
Question: Facing Bank Login Issue/error for direct debit setup?
Maybank / Maybank2U (M2U):
If you encounter the error “Please be advised your access is not permitted to this service” during login, try logging in using your checker token instead of the maker token.CIMB:
Direct Debit setup is not supported under the BizChannel Lite Package as it does not include FPX services. To proceed, you’ll need to upgrade to the Standard Package.
For more details, visit the CIMB BizChannel Packages & Application page.