[Opinion]: Raiz Malaysia App – Great Idea, But Not for Me – Balkoni Hijau Blog

[Opinion]: Raiz Malaysia App – Great Idea, But Not for Me

Raiz app is yet another investing app that helps you invest every time you spend with your Maybank debit card.

I wanted to try investing with Raiz, but I did not feel comfortable at all linking my Maybank debit card to this app.

Thus, this article will share my opinion of the Raiz app based on what I read on their website.

What is the Raiz App?

Raiz is an app that connects to your debit card, it will automatically round up your purchases on your debit card and invest the change in ASNB’s unit trust investments.

Besides the auto-roundup on your debit card purchases, you can also invest lump-sump and set a periodical contribution that is channeled into your investment account (just like the robo-advisors)

Who is the Raiz App for?

From my POV of this app, the main selling point of the Raiz app is that it helps you invest small amounts every time you spend using your debit card.

Because of this, I think the main target is for people who might have difficulties saving up and investing voluntarily.

What Are the Raiz App’s Fees

If your investment portfolio with Raiz app is less than RM6,000 in total, your debit card will be charged RM1.50 per month as their management fee.

If your investment portfolio with Raiz is more than RM6,000, you’ll be charged 0.3% per year of your portfolio’s value.

Pretty high management fees if you ask me.

Pros of the Raiz App?

A noble idea that helps some people who find it hard to set aside money for investments voluntarily.

Just like Robo-Advisors, you can choose your portfolio risk profile and withdraw your investments, anytime you want through the app.

Your auto-round ups from your debit card purchases are invested in ASNB unit trusts that are made up of a portfolio of multiple investments that are managed by their account managers. Therefore, you can’t pick individual investments.

I put this as a pro because Raiz app’s target audience is for people who might be new to investing. So not having to pick what to invest in is a fitting for this audience.

Cons of the Raiz App?

Raiz’s auto-round up invest feature only works with Maybank debit cards at the moment, and not credit cards.


The #1 reason I don’t trust Raiz is because now they are connected to my debit card, where they would have a record of my spending habits. There is a risk that my spending data will be sold off to advertisers in the future.

Raiz is passing off the security responsibilities to a third-party company to handle all card information. But do you trust this company?

It only round up the changes on your debit card purchases. With this, how long does it take to invest a respectable amount for your future? But for some people, this is better than nothing.

Example 1: If you spend RM3.60, Raiz will round it up to RM4 and invest the RM 0.40 change.
Example 2: If you spend RM5.00, Raiz will round-up to RM 6 & invest RM1

If you have the will or the discipline to set aside some money to invest regularly, I find this app pointless.

Raiz app is targeting people who are new to investing, and want them to start small, but this rounds up each debit card purchase, which in some way, can encourage more spending.

RAIZ invests in ASNB unit trusts that are not officially Shariah-compliant. So if you only want to invest in Shariah-compliant investments, this app might not be for you.

Raiz Vs Wahed Invest Vs StashAway

Here is my opinion on the differences between the 3 investing apps:

Invests In
(Read the difference)
Unit Trusts:
Actively managed portfolio by a manager
Indices traded on the stock market (e.g: S&P 500)
Indices traded on the stock market (e.g: S&P 500)
Shariah CompliantNot OfficialYesNot Official
Auto-Invest for each debit car expenditureYesNoNo
Management FeeRM 1.5 per month for portfolios below RM6,000

0.3% per year for portfolios above RM6,000
Starts at 0.8% annually, & goes the larger your portfolioStarts at 0.79% annually, & goes the larger your portfolio
Target Audience (my opinion)People who find it hard invest themselvesShariah Compliant seeking investor, with most in US halal stocksDiversified investments worldwide

What do I think of the Raiz App?

I don’t think the Raiz app is for me due to the following reasons:

  1. I don’t like to link my debit card to some company, and they can charge what they want.
  2. I can’t remember the last time I used my debit card
  3. I have the self-discipline to save money each month, I would prefer to pick my own investments.

However, if you are new to investing, and find it hard to set aside money to invest, the Raiz app might be a good solution to dip your toes in the investing pool and warm you up.

Let me know what you think about Raiz invest in the comments below:

Helmi Hasan

Hi, I'm Helmi Hasan, the founder, and writer for the personal finance blog, Balkoni Hijau. Read more in the 'About Me' page or follow me on Twitter.

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