How to open a bank account in Malaysian Bank

Fee for outgoing transfers from/to foreign banks – 0,5% (can be 1% for banks from certain jurisdictions)

Fee for incoming transfers from/to foreign banks – 0,5% (can be 1% for banks from certain jurisdictions)

Account opening fee – EUR 5 000 (corporate account). Account maintenance fee – EUR 500 per month

Internet banking in English (free of charge)

The bank provides investment banking services and capital markets solutions, as well as customized financial advisory services to clients worldwide

No bank cards or cheque books are issued

An account can be opened remotely

Corporate documents (standard list):

- Certificate of Incorporation;
- Memorandum & Articles of Association;
- Proof of the company’s active status (Certificate of Good Standing) – not older than 3 months;
- Proof of the company’s structure (Certificate of Incumbency, extract from the public register, etc.) – not older than 3 months.

If the structure includes other legal entities, a similar list of documents is requested for them.

Company’s business profile:

- KYC questionnaire, including a detailed description of the company’s activities and economic results, required account currencies, and expected incoming/outgoing payments;
- Agreements with potential counteragents and invoices under such agreements;
- Bank statements for the last 3 – 6 months.

Documents for individuals in the company structure:

- Copy of passport;
- Copy of proof of residential address (bank statement or utility bill not older than 2 months).

Savings; Current

It is possible to open an account without visiting the country where the bank is located

Predictable