Opening a bank account in Malaysia in 2025 requires careful preparation due to updated regulations. Failure to provide the correct documentation may result in immediate rejection. This guide outlines the latest requirements and procedures for both locals and foreigners.
2025 Bank Account Requirements
For Malaysian Citizens:
Original MyKad (photocopies not accepted)
Address verification from JPN or EPF (utility bills no longer valid)
Minimum initial deposit (typically RM50 to RM1,000, depending on the bank)
For Foreign Nationals:
Valid passport with long-term visa (tourist and eNTRI visas are ineligible)
Government-certified rental agreement (short-term rentals/hotel stays unacceptable)
Tax Identification Number (TIN) and proof of income (new 2025 mandate)
Important Note: Major banks like Maybank and CIMB now enforce strict TIN verification for foreign applicants.
Account Opening Process (2025 Updates)
1.Online Appointment – Walk-in applications are frequently declined.
2.Document Submission – Bring originals plus copies to expedite processing.
3.Initial Deposit – Required to activate the account immediately.
4.Card & Digital Banking Setup – Debit cards typically arrive within 3-5 business days.
Efficiency Tip: Public Bank and Hong Leong Bank currently offer the fastest processing, often under one hour.
Common Rejection Reasons
1.Attempting to open an account with a tourist visa
2.Presenting unofficial address documentation
3.Arriving without a prior booking
Prospective applicants should double-check their documents against the latest bank policies before visiting a branch.
Final Recommendation: Schedule appointments early, as prime time slots fill quickly. For further clarification, contact your chosen bank directly to confirm requirements.
(Bank policies are subject to change. Verify details through official channels before application.)
