Investor Guide
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Direct Debit Authorisation (DDA)
Direct Debit Authorisation (DDA) is an instruction to the bank of your selection to deduct an amount determined by you from your bank account for payment to invest in a unit trust fund or Private Retirement Scheme (PRS) fund of your choice, at fixed intervals.
For example, you can choose to deduct RM100.00 from your bank account on a monthly basis to invest in a unit trust fund.
- Convenient
Having your investment contributions automatically deducted at regular intervals is an easy and convenient method of Ringgit Cost Averaging investing.
- Affordable
Investing in Public Mutual via DDA starts from as low as RM100.00 monthly.
- Consistent
DDA ensures that you invest consistently. This is a great way to inculcate good investing habits for building wealth.
- No market timing involved
The discipline of investing a fixed amount into a unit trust fund over an extended period of time will allow your portfolio to grow steadily with no market timing involved.
1. A sales charge of up to 5% will be levied for investments in equity/mixed asset/balanced funds and 1% for investments in bond funds. No sales charge will be levied for investments in money market funds. A sales charge of up to 3% will be levied for contributions in PRS funds. The sales charge and any applicable taxes and/or duties (if any) that are to be levied on the purchase of units is not incorporated in the quoted Net Asset Value (NAV) per unit of the funds, and will be computed separately and deducted from the amount paid.
2. The minimum DDA amount for all funds is RM100.00, except for Public e-Cash Deposit Fund (PeCDF), Public e-Islamic Cash Deposit Fund (PeICDF) and Public e-Enhanced Money Market Fund (PeEMMF), which is RM10.00, and Public e-Wholesale Sustainable 20 Fund (PeWS20F) at RM5,000.00.
3. The deduction amount must be in round figures, i.e. rounded up to the next Ringgit.
4. For PayNet DDA:
i. Public Mutual reserves the right to deduct the DDA transaction fee of RM0.80 from the Fund Account for any unsuccessful deductions from the bank account.
ii. Public Mutual may not effect the DDA if there are three (3) consecutive months of unsuccessful deductions from the bank account.
5. For Private Retirement Scheme (PRS) Default-Option Accounts:
i. Upon the default switching of your contributions to the next core fund that corresponds with your age group, the DDA in place under the Default-Option Account will remain in effect.
ii. Any subsequent DDA contributions that Public Mutual receives will be channelled to the new core fund that corresponds with your age group.
You may enrol for DDA to grow your investment portfolio via the following channels:
i) Public Mutual Online (PMO)
ii) PMO PLUS
iii) Public Mutual's Head Office, Customer Service Centres or Branches (only applicable for Public Bank's DDA)
Public Mutual Online (PMO) | For PMO subscribers, you may enrol for DDA through PMO by following the steps below: 1) Click on ‘DDA’. 2) Choose your preferred Investment Scheme (Cash or Private Retirement). 3) Select the relevant Fund Account Number. 4) Click on ‘Enrol New DDA’. 5) Input your preferred DDA amount and click on ‘Next’. 6) Select your Direct Debit Service Provider*. 7) Select your preferred Deduction Date. 8) Read and understand the “Terms & Conditions”, “Product Highlights Sheet” and “Prospectus/Information Memorandum” of the selected fund and click on ‘Proceed’. 9) Log in to your selected bank's online banking page to complete and confirm the DDA details. 10) View and print the digital receipt (if required). * The Direct Debit Authorisation can be arranged either via PBeBank (Public Bank online banking) or FPX (Participating banks on PayNet DDA). |
PMO PLUS | PMO subscribers may enrol for DDA through our mobile app, PMO PLUS. The steps to enrol for DDA via PMO PLUS are similar to PMO. |
Public Mutual's Head Office, Customer Service Centres or Branches | The PBB DDA Application Form can be completed and submitted at Public Mutual's Head Office, Customer Service Centres or branches. Forms/Documents required: i. PBB DDA Application Form. ii. A copy of the bank statement/bank passbook. Click here for our branch locations. |
Direct Debit Service Provider | DDA Transaction Fee |
PBB DDA | Waived for Public Mutual's investors |
PayNet DDA | RM0.80 Per DDA transaction (Inclusive of any applicable taxes and/or duties, if any) |
Direct Debit Service Provider | DDA Deduction Dates |
PBB DDA | 1st, 5th, 8th, 15th, 18th and 25th |
PayNet DDA | 1st, 5th, 10th, 16th, 20th and 25th |
You may increase or decrease your DDA amount via Public Mutual Online (PMO).
You are required to submit the DDA Termination Form at least 2 weeks before the next deduction date.
No. Please ensure sufficient funds are maintained in your bank account at least 1 day before the deduction date.
The DDA deduction will continue. If you wish to discontinue the DDA facility, you are required to submit the DDA Termination Form.