What Is It

Opening a personal bank account (Savings or Current) in Malaysia as a foreign expatriate or student involves following Bank Negara Malaysia (BNM) anti-money laundering (AMLA) guidelines. Banks require verified proof of legal residence and employment/study status.

Who Is Eligible

Foreign expatriates and students with valid Employment Pass, Residence Pass, Student Pass, or MM2H sticker in their passports.

Required Documents

  • Original Passport: With valid Employment Pass, Residence Pass, Student Pass, or MM2H sticker.
  • Letter of Employment: From the employer, stating salary and contract duration.
  • Letter of Student Verification: From the university.
  • Tenancy Agreement or Utility Bill: Proof of local address.
  • Minimum Deposit: Typically RM250 to RM1,000+ depending on the bank.

    • Step-by-Step Procedure

    1. Visit Bank Branch: Visit a physical branch of your chosen bank (e.g. Maybank, CIMB, Public Bank, HSBC, Standard Chartered) close to your workplace or residence. 2. Present Documents: Present the required documents to a customer service officer. 3. Fill Forms: Fill in the FATCA/CRS tax declaration forms and open-account documents. 4. Make Deposit: Make the minimum deposit, set up online banking, and obtain your debit card immediately.

    Cost & Processing Time

  • Cost: Varies by bank, typically RM250 to RM1,000+ minimum deposit.
  • Processing Time: Usually completed on the same day.

    • Where to Apply

    Physical branches of banks such as Maybank, CIMB, Public Bank, HSBC, and Standard Chartered.

    Important Notes

  • Ensure all documents are original and valid.
  • Follow BNM AMLA guidelines.
  • Verify employment/study status before applying.