How to open a bank account in HSBC Malaysia

GSL reference about the bank What is it?

Being professional intermediaries, we are limited in giving public opinion about some financial institutions. Please contact us directly to obtain more detailed feedback.

GSL rating

Beginning of cooperation

June, 2025

Last contact

July, 2025

Last update

July, 2025

The Hong Kong and Shanghai Banking Corporation Malaysia / HSBC Malaysia is a subsidiary of one of the largest financial groups of the whole Asia-Pacific region;
It is possible to obtain pre-approval;
Personal visit of the account signatory to the bank is required to open an account;
Low transfer and account maintenance fees;
It is possible to open multicurrency accounts;
The banks issue debit cards;
Account is managed through online banking (in English);
Opening an account takes at least 1 month (on average 1.5 to 2 months) after the bank has received the complete set of documents

GSL rating

Beginning of cooperation

June, 2025

Last contact

July, 2025

Last update

July, 2025

Поиск консультанта...

+44 0 207 822 85 93

General information and rating

Not rated

Global rating

Not rated

Countrywide rating

—

Countrywide rating of the head bank

—

Global rating of the head bank

Year of foundation

1884

History

HSBC has been present in Malaysia since 1884, when the Hongkong and Shanghai Banking Corporation Limited opened its first office in the country on the island of Penang. In 1959, Mercantile Bank was bought, which began its operations in Malaysia in 1960.
HSBC opened its office in Malacca in 1909, and at the end of 1912 it opened offices in Ipoh, Kuala Lumpur, Johor Bahru and Kota Bahru. In the 1920s and 1930s, the bank opened even more branches.
In 2007, HSBC Bank Malaysia became the first local foreign bank to receive a license for a subsidiary of the Islamic banking company in Malaysia.
HSBC in Malaysia has a network of more than 50 branches

Personnel

The staff speaks English

Bank’s shareholders

HSBC Holdings plc is a subsidiary of HSBC Holdings plc

Confidentiality

Double Taxation Agreement with Russia is signed; AML legislation is strictly observed

Compare banks

Minimum requirements

0

Minimum balance, €

No restrictions

Transactions permitted per month

0

Initial deposit of funds, €

0

Deadline for the initial deposit, month

Minimum balance, €

There are no requirements on the minimum balance on the account

Transactions permitted per month

There are no restrictions on the number of transfers

Deadline for the initial deposit, month

There are no requirements for initial deposit

Minimum turnover, €/year

No restrictions on annual turnover

How fast payments are executed

Day by day or next day

Tariffs and services

N/A

Outcoming transfer, €

0

Incoming transfer, €

N/A

Account maintenance, €/year

N/A

Payment limit for credit cards, €/day

Outcoming transfer, €

Low rates for payments and account maintenance

Incoming transfer, €

Payment for bank transfer is not established

Distant access to the account

Account is managed through online banking (in English)

Financial products

HSBC Bank Malaysia offers personal financial services, wholesale banking services and Islamic financial solutions

Credit/debit cards

The banks issue debit cards

Account opening procedure

Days to open for incoming transfers

Case by case

Days to open for outcoming transfers

Case by case

References

Not necessary

Purpose of the account

Savings & current

Visit to the bank

Personal visit of the account signatory to the bank is required to open an account

Required

Documents for legal entities:
- standard set of corporate documents; br - accompanying information about the activity of the company, its economic indicators, the expected flow of money; br - bank statements for the last 6 months (if the company previously did business); br - contracts, invoices and transport documents according to the company's previous transactions (if the company previously did business).

If there are other legal entities in the structure, then a similar list of documents is requested.

Documents on physical persons: in the structure of the company:
- copy of the passport;
- copy of the document confirming the residence address (print from bank or utility bill not older than 3 months);
- CV of director and shareholder;
- bank statements from the director's personal account

Types of accounts

Savings; Current

Chances to open an account

Predictable

Share on social media: