You can start using your current account once it is approved by your bank.
Withdrawals from your account (subject to the available balance in the account) can be made either through cheques or ATM cards (issued to individual accountholders only) or by electronic means.
There is no need to maintain the initial deposit amount i.e. the minimum amount required to open the account, once your account is in operation.
You do not earn interest on the balance in your current account. However, for a hybrid account, that is, an account that combines the features of both a current and savings account, you may earn interest from the savings portion of the account.
Your bank will give you a statement of account which will allow you to check transactions that have taken place but the statement does not provide the most current balance.
The statement will normally be for an earlier period and will not include any transaction that has taken place after the period referred to in the statement.
You should therefore keep records of all deposits and withdrawals to calculate the current balance.
Reprinted with permission from BankingInfo (A Consumer Education Programme by Bank Negara Malaysia)
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