Ryt Bank review
Updated September 28, 2026 · HodlCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Ryt Bank runs a debit card on the visa network in Malaysia with a MYR 0 monthly fee, and it pays 1.2% cashback on spend. It suits everyday spending at home rather than heavy currency conversion, since conversion costs 2% every time.
Key facts
- Best for
- Everyday card spending in Malaysia with cashback and no monthly charge.
- Monthly fee
- MYR 0↗
- Currency conversion fee
- 2%↗
- Free ATM withdrawals
- MYR 1,000↗
- Card type
- Debit↗
- Cashback rate
- 1.2%↗
- Card network
- Visa↗
- Legal entity
- YTL Digital Bank Berhad↗
- Headquarters
- Malaysia↗
- Founded
- 2024↗
- Support channels
- Email, Phone, Chat↗
- Features
- Multi-currency, Travel
- Official website
- rytbank.my
Facts checked September 26, 2026, 4 sources
Apps and profiles
- Get the app
- Google Play
Pros and cons
Pros
- The monthly fee is MYR 0, so the card costs nothing to keep.
- Cashback of 1.2% adds a reward to everyday spend.
- Multi-currency and travel features come with the debit card on the visa network.
Cons
- Currency conversion costs 2%, which places Ryt Bank 151 of 237 brands on that fee.
- The ATM allowance is MYR 1,000, ranking 19 of 104 brands on withdrawals.
- Support is limited to email, phone and chat.
Who it suits
- Malaysian residents who want a debit card with a MYR 0 monthly fee and 1.2% cashback on everyday spending.
- Travellers who want a visa card with multi currency and travel features and a local account in Malaysia.
- Customers who prefer a digital bank operated by YTL Digital Bank Berhad and supervised by Bank Negara Malaysia.
Who should look elsewhere
- Wise, for readers who convert currency often enough that 2% per conversion adds up over a year.
- Monzo Flex, for anyone based outside Malaysia who wants a card with a £0 monthly fee in another market.
- Bitpanda, for buyers who want a card chosen from the crypto side rather than from a bank account.
How it compares on our data
On free ATM withdrawals Ryt Bank sits 19 of 104. On the currency conversion fee the ranking is 151 of 237, well down the table. On the monthly fee it ranks 1 of 379. Read the monthly fee and the conversion fee together, since the measures point in opposite directions.
How Ryt Bank compares
8.7 vs 9.4
8.7 vs 9.0
8.7 vs 8.2
8.7 vs 9.5
8.7 vs 9.6
8.7 vs 9.0
8.7 vs 9.1A €0 monthly fee, listed for readers who start from crypto holdings rather than a bank account.
8.7 vs 8.9
8.7 vs 8.1
8.7 vs 8.2
8.7 vs 9.5
8.7 vs 9.4
8.7 vs 9.2
8.7 vs 9.1
8.7 vs 9.0
8.7 vs 8.9- 8.7 vs 8.8
8.7 vs 8.8
8.7 vs 8.6
8.7 vs 8.5
8.7 vs 8.3
Where Ryt Bank is available
- Available
- Malaysia
- Licence in Malaysia
- Bank Negara Malaysia, checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does Ryt Bank charge to hold the account?+
The monthly fee is MYR 0, so there is no charge to keep the account open. Spending draws on the balance in the account, because this is a debit card rather than a credit card. That makes it a straightforward everyday spending tool for a customer in Malaysia.
What does it cost to convert currency?+
The currency conversion fee is 2%, applied when you spend or convert in a currency you do not hold. On our rankings that places the brand 151 of 237, so travellers should weigh it before leaning on the card abroad.
Is Ryt Bank regulated?+
The account is run by YTL Digital Bank Berhad, a Malaysian digital bank based in Malaysia and regulated by Bank Negara Malaysia. Money sits with a licensed bank rather than a trading platform, which is the main safety point for readers weighing crypto providers.
What cashback does the card pay?+
The cashback rate is 1.2%, paid on spending through the debit card. The card runs on the visa network, so it is accepted wherever that network works. Cashback alongside a MYR 0 monthly fee is the main reason to pick it.
How much can I take out at ATMs?+
The ATM allowance is MYR 1,000. That ranks 19 of 104 brands on our data, near the front. The card is aimed at everyday use in Malaysia, which is where that allowance does most of its work.
When was Ryt Bank founded?+
The bank was founded in 2024 and is operated by YTL Digital Bank Berhad, a newer digital bank in Malaysia. A short track record means less published behaviour to judge, so the licence and the published fee sheet carry more weight here than longevity would.
Does the card work abroad?+
The card runs on visa and the account carries multi currency and travel features, built around multi-currency and travel use. The catch is the conversion fee of 2%, which applies wherever you spend in a currency you do not hold. Spending in MY is the cheaper case.
Sources
- finance.yahoo.com/news/malaysia-launches-ryt-bank-worlds-... checked September 26, 2026
Backs: Founded
“Malaysia Launches Ryt Bank”
- bnm.gov.my/-/ytl-digital-bank-berhad checked September 26, 2026
Backs: Headquarters, Legal entity, Licences
“Level 37, Menara Southpoint, Mid Valley City, 59200 Kuala Lumpur”
- rytbank.my checked September 26, 2026
Backs: Card type, Features, Support channels
“Ryt Card”
- rytbank.my/fees-and-limits checked September 26, 2026
Backs: Free ATM withdrawals, Cashback rate, Currency conversion fee, Monthly fee, Card network
“2 free withdrawals per month, totalling up to RM1,000 per month”
Compiled from 4 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Protection.
Ryt Bank
Everyday card spending in Malaysia with cashback and no monthly charge.