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Post Discharge and Dispensation but unable to open bank account

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asked on Mar 15, 2017 at 21:39
by   BlackFox
I have been discharged from Insolvency Department in Nov 16 and my lawyers have passed me the release letter from MDI after a series of limbo in the due process. Now that it is assumed sorted out, I would like to proceed to reopen a bank account. However, I have tried applying at one of the local bank and was halted as the system flagged my IC as "blocked". The staff provided me no explanation as they don't have any information on why it is blocked. 

When I was declared bankrupt, I had some funds and opted settlement and my OA told me to carry on with the settlement process as MDI oversaw it. It took sometime with the bank but it was amicably resolved (almost 3 years later).

My question is can someone please advise me why am I having trouble opening a savings account and what should I do to open a bank account again? 

Are there anything or points to lookout for as a discharged bankrupt I need to keep in mind when dealing with banks?

Any advice on other issues not mentioned is welcome.

Thank you.
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9 Answers

answered on Mar 15, 2017 at 21:57
by   Azizi
When I was declared bankrupt, I had some funds and opted settlement and my OA told me to carry on with the settlement process as MDI oversaw it.
Why didn't you open a savings account with any bank while under the case management?
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answered on Mar 15, 2017 at 22:10
by   BlackFox
edited Mar 15, 2017 at 22:15
by   BlackFox
Hi Azizi, 

 When my account was frozen and directed to MDI, I met my OA. I that meeting, if I want to open an account, it would be under the purview of MDI and it will only happen if I need to work a repayment plan. In my case, my OA asked me to solve the payment. Otherwise, I need to fill up the lengthy form and make an entire declaration etc... The OA deem this unnecessary as this is an open close case. So, from obtaining my funds to negotiation and bantering with the bank that it was finally resolved. I was discharged late despite already settling the payments is due to snail pace process and change of OA (court hearing delayed twice due to documentation, holiday, etc...) So, that was the scenario. According to MDI, I am cleared and they cannot do anything else on my behalf with the banks. What should I do? Is it from a delay in informing the banks of my status? Banks don't want me? Credit Bureau issue?
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answered on Mar 15, 2017 at 22:56
by   Azizi
Your current CCRIS would indicate you were a bankrupt before and now discharged.
It is the bank's prerogative as to whether they would risk opening an account to you.
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answered on Mar 15, 2017 at 22:59
by   Azizi
It is a grave mistake not to have gone through a proper period of case management with JIM.
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answered on Mar 15, 2017 at 23:16
by   BlackFox
Noted. I'm just asking to see if there is anything I may have overlooked after the discharge because I had a very peculiar case at this bank where my Fingerprint was not able to register on 4 different machines and even after changing a NEW IC. Two different banks, not one mentioned the inability to open due to bankruptcy. The second bank did not close my account even after other banks had closed mine when I was declared. 
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answered on Mar 16, 2017 at 07:42
by   BeHappy
If you only need a bank saving account, you may go straight to any Bank Simpanan Nasional branch, they allow even a Bankrupt to open an account with them. 
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answered on Mar 16, 2017 at 12:16
by   vkpc
Even if you have never been a bankrupt, has no CTOS or CCRIS records and has never had any bad loans, banks can reject your application to open a bank account.
So what is the problem actually?

Some people think it is their birth right to a bank account.
It is actually the bank's prerogative.
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answered on Mar 16, 2017 at 15:27
by   BlackFox
Hi vkpc, 

Just checked WITH BNM. It is the right of a citizen to open an account. If the bank refuse, they are obliged to inform you that reason. Thank you
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answered on Mar 16, 2017 at 16:36
by   Azizah
It is the right of a citizen to open an account
U hv one right
The banks have many rights:- bankrupt before, MAB, MoF, bad handling of banks acs before(if any)

The Moral of debts issues.. FIGHT BANKRUPTCY  if you can. It is your legal rights.
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