Bank in Kuala Lumpur

hi,
There's lots of atm everywhere now or u might l to consider è local bk like maybank or affin bk.....

There are HSBC and Standard Chartered branches in KL.  Not that many branches though.

For local banks the most branches I see are CIMB and Maybank.

I have a HSBC bank account.  Its great because it can connect with your original HSBC account for quick easy wiring at the cheapest rates.  Only problem is I have a hard time accessing other bank's ATMs.  ANd I if do get access it charges me 10RM convinience fee per transaction.  This is why I also got an account with a local bank also so i can easily access the ATMs.  The most ATMs found in KL is Maybank.  Nothing wrong with getting 2 bank account to get the best of both worlds.

Thank you both...very helpful. I was hoping for a chase bank branch or atm....too bad. Chase is really big in chicago. Might just go with maybank as both of you suggested.

We have citibank and hsbc here. HSBC and Wells Fargo are joint venture bank.

how do you open an account with Maybank? what document do you need?

For HSBC or Maybank

Go into the branch, no appointment necessary.

You will need your work permit, proof of address and passport/ID.

I think you need to deposit a minimum of RM 250 to open the account.

Hi,


How can a expat give proof of address within few days of joining in KL..

can you let me know the exact procedure to apply for a accountin local bank without much hassles and when would the account get activated?


RM250 is initial balance to be maintained is it?

also if I create a maybank account can I use ATMs of other banks...in India such service is free for 10 transactions is it free in KL too??


Please help...

cheers
vinay

Proof of address can be a letter from your employer or they may also accept a tenancy agreement.

The account would be activated immediately and you would receive the ATM card immediately too.

The initial balance does not have to be maintained. (it may be a different intial balance with Maybank, I was refering to HSBC)

There is a charge to use your ATM in most other machines to my knowlege. This charges varies from bank to bank. The approximate cost is between 4RM and 10RM.

Hi All,

Thanks for your help.. i've already got an account opened with Maybank.. it took some time but finally... i came in with 500 ringgit the 1st day but was rejected. Then a friend of mine told me to go in with more, so the next day i went in with 10k and they immediately open an account for me.. strange but it works so...

what the heck....RM 10K for opening an account...that would be salary for 2-3 months for few guys....

although many expats work for more than 8-10k banks should not be that rude to charge 10k for account opening..

or is it the case with only MayBank??

vinayd wrote:

what the heck....RM 10K for opening an account...that would be salary for 2-3 months for few guys....

although many expats work for more than 8-10k banks should not be that rude to charge 10k for account opening..

or is it the case with only MayBank??

Goodness, you do not need RM10K to open a bank account!!! Different bank have their own policy. My advice is to contact the bank directly to gather more accurate information.

For foreigners/expatriates, you will need a letter from your employee to confirm your employment. With that letter you can open a savings account in any bank or your employer may inform you which bank to open an account as they will need to credit your salary. If you have a letter from the employer, then you only need to bank in the minimum amount of I think RM100 to open the savings, for Current account I think its RM2,000 (varies from bank to bank). If you want to open an account which is not linked to your salary, you will still need a letter from employer to confirm your employment. Then walk into any Bank and request to open account, dont forget your passport. Again the amount is the same RM100 for Saving and RM2,000 for current. Its better to open with a local bank then you have access to ATMs everywhere. Even if you use another local bank ATM, the fee charges is only RM1. If you withdraw from your own Bank ATM, then it is free or some banks may give a number and free withdrawals and after that, they may charge a minimum fee. Foreign banks have very few branches and if you open with a foreign bank, then you will have to pay RM10 to withdraw from any other ATM. But most foreign banks ATMs are 24 hours, while local banks only operate from 6am to 12pm.

I have to wonder if this is a nationality issue?

10k to open a current account is completely unacceptable regardless of earnings. HSBC asked me for RM 250. It may have been RM 500 at Maybank.

Totally, agree with rkdandhu in relation to customer service at Maybank .......awful!