What are the requirements for opening a current account in Malaysia?
Requirements To Open A Current Account
- You must be physically present at the bank
- You need an introducer acceptable to the bank. This is to enable the bank to obtain references on you. Normally, the introducer is an existing customer or someone known to the bank
- You need to provide certain identification documents such as your identity card or driving licence to substantiate your identity
- You need to put an initial deposit as specified by your bank
In addition, for a business, society, club, association or professional registered with professional bodies (e.g. Malaysian Medical Association etc), you need to provide the business registration, board resolution, memorandum and articles of association, share allotment form and list of directors and secretary (for company account) or list of current board/committee members (for society account).
Reprinted with permission from BankingInfo (A Consumer Education Programme by Bank Negara Malaysia)
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