Opening Bank Account in Malaysia (Maybank, CIMB, Public Bank) - 2025 Guide
Major Malaysian Banks Overview
Top 5 Banks for Account Opening:
1. Maybank (Malayan Banking Berhad)
**Market Leader:** Malaysia's largest bank
**Branches:** 2,300+ nationwide
**ATMs:** 2,900+ locations
**International Presence:** 20 countries
2. CIMB Bank
**Strength:** Digital banking innovation
**Branches:** 1,100+ locations
**ATMs:** 2,000+ nationwide
**Specialty:** Online banking and mobile apps
**Best For:** Tech-savvy users, modern banking
3. Public Bank
**Focus:** Personal and SME banking
**Branches:** 1,000+ outlets
**ATMs:** 1,800+ machines
**Reputation:** Conservative, stable banking
**Best For:** Traditional banking, savings accounts
4. Hong Leong Bank
**Innovation:** Digital transformation leader
**Branches:** 400+ locations
**ATMs:** 600+ units
**Specialty:** Investment and wealth management
**Best For:** Investment products, premium banking
5. RHB Bank
**Regional Focus:** ASEAN markets
**Branches:** 500+ outlets
**ATMs:** 1,000+ locations
**Strength:** Regional connectivity
**Best For:** Regional business, trade finance
Account Types Available
Personal Banking Accounts:
Current Accounts
**Purpose:** Daily transactions, bill payments
**Minimum Balance:** RM500-RM3,000
**Features:** Debit card, online banking, checkbook
**Monthly Fee:** RM8-RM20 (waived with minimum balance)
Savings Accounts
**Purpose:** Long-term savings with interest
**Minimum Balance:** RM20-RM500
**Interest Rate:** 0.25%-3.00% per annum
**Features:** Passbook/statement, ATM access
Fixed Deposit Accounts
**Purpose:** Higher interest on locked funds
**Minimum Amount:** RM1,000-RM10,000
**Tenure:** 1 month to 60 months
**Interest Rate:** 1.75%-3.50% per annum
Islamic Banking Accounts
**Principle:** Shariah-compliant banking
**Types:** Savings-i, Current-i, Investment-i
**Features:** Profit-sharing instead of interest
**Available At:** All major banks
Business Banking Accounts:
Business Current Accounts
**Minimum Balance:** RM3,000-RM20,000
**Features:** Multi-user access, trade services
**Monthly Fee:** RM30-RM100
Business Savings Accounts
**Minimum Balance:** RM1,000-RM5,000
**Interest Rate:** 0.50%-2.50% per annum
**Features:** Higher interest than personal accounts
Requirements for Account Opening
For Malaysian Citizens:
Essential Documents:
**MyKad (IC)** - Original and photocopy
**Passport-sized photos** - 2 recent photos
**Salary slip/employment letter** - Latest 3 months
**Income tax form (BE/B form)** - Previous year
**Initial deposit** - Varies by account type
Additional Documents (If Applicable):
**EPF statement** - For income verification
**Bank statements** - From other banks (6 months)
For Foreigners:
Mandatory Documents:
**Valid passport** - With entry stamp
**Visa/permit** - Work permit, student visa, MM2H
**Employment pass** - For working professionals
**Salary certificate** - From Malaysian employer
**Introduction letter** - From employer/sponsor
**Initial deposit** - RM1,000-RM10,000 minimum
Visa-Specific Requirements:
**Work Permit Holders: **
Employment pass (valid 1+ years)
Employment contract
Salary certificate (minimum RM3,000/month)
Tax number (if applicable)
**International Students: **
Student visa and passport
Letter from educational institution
Proof of tuition fee payment
Guardian/sponsor letter (for dependents)
**MM2H Participants: **
MM2H approval letter
Fixed deposit certificate (RM300,000)
Health insurance certificate
Proof of offshore income
**Expatriate Dependents: **
Dependent pass/visa
Spouse's employment letter
Marriage certificate (for spouses)
Birth certificate (for children)
Step-by-Step Account Opening Process
Step 1: Choose Your Bank and Account Type
**Duration: ** Research phase (1-2 days)
Branch locations convenient to you
Account fees and minimum balances
Online banking features
ATM network coverage
Customer service quality
**Recommended Banks by Need: **
**Digital Banking:** CIMB, Hong Leong
**International Services:** Maybank, HSBC
**Traditional Banking:** Public Bank, AmBank
**Islamic Banking:** Bank Islam, Maybank Islamic
Step 2: Gather Required Documents
**Duration: ** 1-3 days
All original documents
Certified photocopies
Recent passport photos
Initial deposit amount
Contact information
**Document Verification Tips: **
Ensure all documents are current (within 3 months)
Get certified copies from relevant authorities
Translate foreign documents if required
Have backup copies ready
Step 3: Visit Branch or Apply Online
**Duration: ** 30 minutes - 2 hours
In-Branch Application:
Online Application (Selected Banks):
Step 4: Account Activation and Setup
**Duration: ** Same day or 1-3 business days
Immediate Setup:
**Debit card collection** - Same day or within 1 week
**Checkbook request** - 3-5 business days delivery
Post-Opening Services:
**Internet banking setup** - Username/password creation
**SMS banking** - Transaction alerts setup
**Auto-pay services** - Utility bills, loans, insurance
Bank-Specific Guides
Maybank Account Opening
Popular Account Types:
**Maybank SaveUp Account** - Basic savings, RM20 minimum
**Maybank Current Account** - Daily banking, RM3,000 minimum
**Maybank Islamic SaveUp-i** - Shariah-compliant savings
Unique Features:
**MAE by Maybank** - Digital wallet and spending tracker
**Maybank Treats** - Rewards and loyalty program
**Global Network** - 2,400 branches across 20 countries
Opening Process:
CIMB Bank Account Opening
Popular Account Types:
**CIMB Basic SaveUp** - No minimum balance savings
**CIMB Current Account** - Premium banking features
**CIMB Islamic SaveUp-i** - Profit-sharing savings
Digital Advantages:
**CIMB Clicks** - Award-winning internet banking
**Quick Cheque** - Mobile check deposits
**CIMB Pay** - Digital wallet integration
Opening Process:
Public Bank Account Opening
Popular Account Types:
**Public Bank SaveFirst** - Basic savings account
**Public Bank Fixed Deposit** - Term deposit investments
Traditional Strengths:
**Personal Service** - Relationship-based banking
**Stability** - Conservative banking approach
**Wide Network** - Extensive branch coverage
**Multi-currency** - Foreign exchange services
Opening Process:
Account Opening Costs (2025 Rates)
Initial Deposit Requirements:
Savings Accounts:
**Maybank SaveUp:** RM20
**CIMB Basic SaveUp:** RM1
**Public Bank SaveFirst:** RM10
**Hong Leong Connect:** RM50
**RHB Easy:** RM100
Current Accounts:
**Maybank Current:** RM3,000
**CIMB Current:** RM2,500
**Public Bank Current:** RM1,000
**Hong Leong Current:** RM5,000
**RHB Current:** RM3,000
Monthly Fees and Charges:
Account Maintenance:
**Savings Accounts:** RM0-RM12/month
**Current Accounts:** RM8-RM25/month
**Islamic Accounts:** RM0-RM15/month
**Premium Accounts:** RM20-RM50/month
Transaction Fees:
**ATM Withdrawals (Own Bank):** Free
**ATM Withdrawals (Other Banks):** RM1.00
**Online Transfers:** RM0.50-RM2.00
**Check Clearance:** RM0.50 per check
**Returned Check Fee:** RM25-RM50
Digital Banking Setup
Online Banking Registration:
Security Setup:
**Username Creation** - Alphanumeric, 8-12 characters
**Password Requirements** - Complex password with special characters
**Security Questions** - Personal verification questions
**Two-Factor Authentication** - SMS OTP or hardware token
First-Time Login Process:
Mobile Banking Apps:
Popular Banking Apps:
**CIMB Clicks** - Fast and secure mobile banking
**PB engage** - Public Bank's digital platform
**HLB Connect** - Hong Leong's integrated app
**RHB Mobile Banking** - Full banking on mobile
App Features:
**Balance Inquiry** - Real-time account balances
**Fund Transfers** - Instant money transfers
**Bill Payments** - Utility and credit card bills
**Check Deposits** - Mobile check capture
**Investment Services** - Unit trusts, stocks
**Insurance** - Policy management and claims
**Foreign Exchange** - Currency conversion rates
Special Considerations for Foreigners
Minimum Income Requirements:
**Work Permit Holders:** RM3,000/month minimum salary
**Students:** No minimum (with guardian guarantee)
**MM2H Participants:** Proof of RM10,000/month offshore income
**Dependents:** Sponsor's income verification required
Documentation Challenges:
**Credit History:** Limited local credit history
**Address Proof:** Utility bills or tenancy agreements
**Income Verification:** Employer letters and pay slips
**Tax Status:** Understanding Malaysian tax obligations
Banking Limitations:
**Credit Cards:** May require fixed deposit security
**Loan Eligibility:** Limited based on visa validity
**Investment Products:** Some restricted to citizens/PRs
**Online Services:** May require in-person verification
Common Challenges and Solutions
Document Issues:
**Expired Documents:** Always carry current versions
**Translation Requirements:** Use certified translation services
Minimum Balance Problems:
**Choose Appropriate Account:** Start with basic savings account
**Understand Penalties:** Below-minimum balance charges
**Monitor Regularly:** Use mobile alerts for balance updates
Branch Service Delays:
**Peak Hours:** Avoid lunch time (12-2 PM) and after 3 PM
**Appointment Booking:** Use online appointment systems
Pro Tips for Smooth Account Opening
Preparation Tips:
Relationship Building:
Digital Integration:
Post-Opening Account Management
Account Maintenance:
**Regular Monitoring** - Check statements monthly
**Balance Management** - Avoid below-minimum penalties
**Service Upgrades** - Review account needs annually
**Document Updates** - Notify changes in address/employment
Building Banking Relationship:
**Credit History** - Establish positive payment records
**Additional Services** - Credit cards, loans, investments
**Loyalty Programs** - Maximize rewards and benefits
**Referral Benefits** - Introduce friends and family
Conclusion
**Key Success Factors: **
Choose bank based on your specific needs and location
Understand minimum balance and fee structures
Set up digital banking services immediately
Build positive banking relationships for future services
**Recommended Steps: **
**Next Steps After Account Opening: **
Apply for credit card after 6 months
Consider investment products for wealth building
Explore insurance options through your bank
Build credit history for future loan applications
Opening Bank Account in Malaysia (Maybank, CIMB, Public Bank) - 2025 Guide
Opening a bank account in Malaysia is an essential first step for anyone planning to live, work, or study in the country. Whether you're a Malaysian citizen, expatriate, international student, or business owner, this comprehensive guide will walk you through the process of opening a bank account with Malaysia's leading financial institutions in 2025.
Major Malaysian Banks Overview
Top 5 Banks for Account Opening:
1. Maybank (Malayan Banking Berhad)
**Market Leader:** Malaysia's largest bank
**Branches:** 2,300+ nationwide
**ATMs:** 2,900+ locations
**International Presence:** 20 countries
**Best For:** Comprehensive banking, international transfers
2. CIMB Bank
**Strength:** Digital banking innovation
**Branches:** 1,100+ locations
**ATMs:** 2,000+ nationwide
**Specialty:** Online banking and mobile apps
**Best For:** Tech-savvy users, modern banking
3. Public Bank
**Focus:** Personal and SME banking
**Branches:** 1,000+ outlets
**ATMs:** 1,800+ machines
**Reputation:** Conservative, stable banking
**Best For:** Traditional banking, savings accounts
4. Hong Leong Bank
**Innovation:** Digital transformation leader
**Branches:** 400+ locations
**ATMs:** 600+ units
**Specialty:** Investment and wealth management
**Best For:** Investment products, premium banking
5. RHB Bank
**Regional Focus:** ASEAN markets
**Branches:** 500+ outlets
**ATMs:** 1,000+ locations
**Strength:** Regional connectivity
**Best For:** Regional business, trade finance
Account Types Available
Personal Banking Accounts:
Current Accounts
**Purpose:** Daily transactions, bill payments
**Minimum Balance:** RM500-RM3,000
**Features:** Debit card, online banking, checkbook
**Monthly Fee:** RM8-RM20 (waived with minimum balance)
Savings Accounts
**Purpose:** Long-term savings with interest
**Minimum Balance:** RM20-RM500
**Interest Rate:** 0.25%-3.00% per annum
**Features:** Passbook/statement, ATM access
Fixed Deposit Accounts
**Purpose:** Higher interest on locked funds
**Minimum Amount:** RM1,000-RM10,000
**Tenure:** 1 month to 60 months
**Interest Rate:** 1.75%-3.50% per annum
Islamic Banking Accounts
**Principle:** Shariah-compliant banking
**Types:** Savings-i, Current-i, Investment-i
**Features:** Profit-sharing instead of interest
**Available At:** All major banks
Business Banking Accounts:
Business Current Accounts
**Purpose:** Company daily operations
**Minimum Balance:** RM3,000-RM20,000
**Features:** Multi-user access, trade services
**Monthly Fee:** RM30-RM100
Business Savings Accounts
**Purpose:** Company reserves and surplus
**Minimum Balance:** RM1,000-RM5,000
**Interest Rate:** 0.50%-2.50% per annum
**Features:** Higher interest than personal accounts
Requirements for Account Opening
For Malaysian Citizens:
Essential Documents:
**MyKad (IC)** - Original and photocopy
**Passport-sized photos** - 2 recent photos
**Salary slip/employment letter** - Latest 3 months
**Income tax form (BE/B form)** - Previous year
**Initial deposit** - Varies by account type
Additional Documents (If Applicable):
**EPF statement** - For income verification
**Business registration (SSM)** - For business accounts
**Company letter** - Employment confirmation
**Bank statements** - From other banks (6 months)
For Foreigners:
Mandatory Documents:
**Valid passport** - With entry stamp
**Visa/permit** - Work permit, student visa, MM2H
**Employment pass** - For working professionals
**Salary certificate** - From Malaysian employer
**Introduction letter** - From employer/sponsor
**Initial deposit** - RM1,000-RM10,000 minimum
Visa-Specific Requirements:
**Work Permit Holders: **
Employment pass (valid 1+ years)
Employment contract
Salary certificate (minimum RM3,000/month)
Tax number (if applicable)
**International Students: **
Student visa and passport
Letter from educational institution
Proof of tuition fee payment
Guardian/sponsor letter (for dependents)
**MM2H Participants: **
MM2H approval letter
Fixed deposit certificate (RM300,000)
Health insurance certificate
Proof of offshore income
**Expatriate Dependents: **
Dependent pass/visa
Spouse's employment letter
Marriage certificate (for spouses)
Birth certificate (for children)
Step-by-Step Account Opening Process
Step 1: Choose Your Bank and Account Type
**Duration: ** Research phase (1-2 days)
Branch locations convenient to you
Account fees and minimum balances
Online banking features
ATM network coverage
Customer service quality
**Recommended Banks by Need: **
**Digital Banking:** CIMB, Hong Leong
**International Services:** Maybank, HSBC
**Traditional Banking:** Public Bank, AmBank
**Islamic Banking:** Bank Islam, Maybank Islamic
Step 2: Gather Required Documents
**Duration: ** 1-3 days
All original documents
Certified photocopies
Recent passport photos
Initial deposit amount
Contact information
**Document Verification Tips: **
Ensure all documents are current (within 3 months)
Get certified copies from relevant authorities
Translate foreign documents if required
Have backup copies ready
Step 3: Visit Branch or Apply Online
**Duration: ** 30 minutes - 2 hours
In-Branch Application:
3. Complete application forms
Online Application (Selected Banks):
2. Complete online form
5. Complete process at branch
Step 4: Account Activation and Setup
**Duration: ** Same day or 1-3 business days
Immediate Setup:
**Debit card collection** - Same day or within 1 week
**Online banking registration** - Immediate activation
**Mobile app download** - Set up at branch or home
**Checkbook request** - 3-5 business days delivery
Post-Opening Services:
**Internet banking setup** - Username/password creation
**Mobile banking** - App installation and registration
**SMS banking** - Transaction alerts setup
**Auto-pay services** - Utility bills, loans, insurance
Bank-Specific Guides
Maybank Account Opening
Popular Account Types:
**Maybank SaveUp Account** - Basic savings, RM20 minimum
**Maybank Current Account** - Daily banking, RM3,000 minimum
**Maybank Islamic SaveUp-i** - Shariah-compliant savings
Unique Features:
**M2U (Maybank2u)** - Comprehensive online banking
**MAE by Maybank** - Digital wallet and spending tracker
**Maybank Treats** - Rewards and loyalty program
**Global Network** - 2,400 branches across 20 countries
Opening Process:
5. Complete biometric verification
CIMB Bank Account Opening
Popular Account Types:
**CIMB Basic SaveUp** - No minimum balance savings
**CIMB Current Account** - Premium banking features
**CIMB Islamic SaveUp-i** - Profit-sharing savings
Digital Advantages:
**CIMB Clicks** - Award-winning internet banking
**CIMB Mobile App** - Comprehensive mobile banking
**Quick Cheque** - Mobile check deposits
**CIMB Pay** - Digital wallet integration
Opening Process:
2. Complete digital forms at branch kiosk
Public Bank Account Opening
Popular Account Types:
**Public Bank SaveFirst** - Basic savings account
**Public Bank Current Account** - Comprehensive banking
**Public Bank Fixed Deposit** - Term deposit investments
Traditional Strengths:
**Personal Service** - Relationship-based banking
**Stability** - Conservative banking approach
**Wide Network** - Extensive branch coverage
**Multi-currency** - Foreign exchange services
Opening Process:
6. Account setup and services registration
Account Opening Costs (2025 Rates)
Initial Deposit Requirements:
Savings Accounts:
**Maybank SaveUp:** RM20
**CIMB Basic SaveUp:** RM1
**Public Bank SaveFirst:** RM10
**Hong Leong Connect:** RM50
**RHB Easy:** RM100
Current Accounts:
**Maybank Current:** RM3,000
**CIMB Current:** RM2,500
**Public Bank Current:** RM1,000
**Hong Leong Current:** RM5,000
**RHB Current:** RM3,000
Monthly Fees and Charges:
Account Maintenance:
**Savings Accounts:** RM0-RM12/month
**Current Accounts:** RM8-RM25/month
**Islamic Accounts:** RM0-RM15/month
**Premium Accounts:** RM20-RM50/month
Transaction Fees:
**ATM Withdrawals (Own Bank):** Free
**ATM Withdrawals (Other Banks):** RM1.00
**Online Transfers:** RM0.50-RM2.00
**Check Clearance:** RM0.50 per check
**Returned Check Fee:** RM25-RM50
Digital Banking Setup
Online Banking Registration:
Security Setup:
**Username Creation** - Alphanumeric, 8-12 characters
**Password Requirements** - Complex password with special characters
**Security Questions** - Personal verification questions
**Two-Factor Authentication** - SMS OTP or hardware token
First-Time Login Process:
7. Complete initial setup tutorial
Mobile Banking Apps:
Popular Banking Apps:
**Maybank2u** - Comprehensive financial management
**CIMB Clicks** - Fast and secure mobile banking
**PB engage** - Public Bank's digital platform
**HLB Connect** - Hong Leong's integrated app
**RHB Mobile Banking** - Full banking on mobile
App Features:
**Balance Inquiry** - Real-time account balances
**Fund Transfers** - Instant money transfers
**Bill Payments** - Utility and credit card bills
**Check Deposits** - Mobile check capture
**Investment Services** - Unit trusts, stocks
**Insurance** - Policy management and claims
**Foreign Exchange** - Currency conversion rates
Special Considerations for Foreigners
Minimum Income Requirements:
**Work Permit Holders:** RM3,000/month minimum salary
**Students:** No minimum (with guardian guarantee)
**MM2H Participants:** Proof of RM10,000/month offshore income
**Dependents:** Sponsor's income verification required
Documentation Challenges:
**Credit History:** Limited local credit history
**Address Proof:** Utility bills or tenancy agreements
**Income Verification:** Employer letters and pay slips
**Tax Status:** Understanding Malaysian tax obligations
Banking Limitations:
**Credit Cards:** May require fixed deposit security
**Loan Eligibility:** Limited based on visa validity
**Investment Products:** Some restricted to citizens/PRs
**Online Services:** May require in-person verification
Common Challenges and Solutions
Document Issues:
**Expired Documents:** Always carry current versions
**Translation Requirements:** Use certified translation services
**Missing Papers:** Keep comprehensive document checklist
Minimum Balance Problems:
**Choose Appropriate Account:** Start with basic savings account
**Understand Penalties:** Below-minimum balance charges
**Monitor Regularly:** Use mobile alerts for balance updates
Branch Service Delays:
**Peak Hours:** Avoid lunch time (12-2 PM) and after 3 PM
**Appointment Booking:** Use online appointment systems
**Multiple Visits:** May need 2-3 visits for complete setup
Pro Tips for Smooth Account Opening
Preparation Tips:
Relationship Building:
Digital Integration:
2. **Mobile Apps** - Download and configure banking apps
Post-Opening Account Management
Account Maintenance:
**Regular Monitoring** - Check statements monthly
**Balance Management** - Avoid below-minimum penalties
**Service Upgrades** - Review account needs annually
**Document Updates** - Notify changes in address/employment
Building Banking Relationship:
**Credit History** - Establish positive payment records
**Additional Services** - Credit cards, loans, investments
**Loyalty Programs** - Maximize rewards and benefits
**Referral Benefits** - Introduce friends and family
Conclusion
**Key Success Factors: **
Choose bank based on your specific needs and location
Prepare comprehensive documentation in advance
Understand minimum balance and fee structures
Set up digital banking services immediately
Build positive banking relationships for future services
**Recommended Steps: **
4. Complete online banking setup same day
**Next Steps After Account Opening: **
Apply for credit card after 6 months
Consider investment products for wealth building
Explore insurance options through your bank
Build credit history for future loan applications
With your Malaysian bank account established, you'll have access to the country's comprehensive financial ecosystem, making it easier to manage daily expenses, receive salary payments, pay bills, and build your financial future in Malaysia.