What types of current account are available in Malaysia?
As an individual, you can open the following current accounts:
- Personal current account under your name; or
- Joint current account which is operated by you jointly with others, e.g.
Any one of the accountholders to operate the account (e.g., for an account opened by A and B, either A or B is required to sign)
All accountholders are needed to operate the account (e.g., for an account opened by A and B, both A and B are required to sign)
For a business/company, the current account will be in the name of the business and it is operated by nominated signatory(ies).
Reprinted with permission from BankingInfo (A Consumer Education Programme by Bank Negara Malaysia)
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