How to open a bank account in UOB Malaysia

GSL reference about the bank What is it?

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GSL rating

rating

Beginning of cooperation

June, 2025

Last contact

July, 2025

Last update

July, 2025
  • United Overseas Bank (Malaysia) BHD / UOB Malaysia is a subsidiary bank of a large Singaporean financial group that has over 500 branches in 19 countries of Asia, Europe and North America, first of all in Singapore, Indonesia, Malaysia, and Thailand;
  • 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
rating
Beginning of cooperation
June, 2025
Last contact
July, 2025
Last update
July, 2025
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General information and rating
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
1993
History
UOB Malaysia, founded in 1993, was merged with Lee Wah Bank in 1994. Lee Wah Bank was founded in 1920 in Singapore, and its first branch in Malaysia opened in 1956. In 1973, Lee Wah Bank became a subsidiary of UOB, fully owned by UOB, and was merged with UOB Malaysia in 1994
Personnel
The staff speaks English
Bank’s shareholders
UOB (Малайзия) is a subsidiary of UOB - the leading bank in Asia
Confidentiality
Double Taxation Agreement with Russia is signed; AML legislation is strictly observed
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    Minimum requirements
    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
    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
    The bank provides a variety of financial services for both private and commercial clients, including commercial lending, investment banking, treasury services and more
    Credit/debit cards
    The banks issue debit cards

    Account opening procedure
    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

    Banks of Andorra

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
    5 500
    N/A
    N/A
    3 500
    N/A
    N/A
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