Malayan Banking Berhad (Maybank) is the largest company listed on Bursa Malaysia, has offices in the five major financial centers of London, New York, Hong Kong, Shanghai, and Singapore. Its operations span 18 countries and regions worldwide, serving over 22 million customers.

Various Account Types

Maybank offers a range of current and savings accounts to meet the needs of different customers. Below is a comparison of features and fees for several popular accounts:

Personal Current Account

• Features: Withdrawals and deposits via checks, ATM, and phone banking
• Minimum opening deposit: RM1,000
• Minimum balance requirement: RM1,000 (otherwise a service fee of RM10 will be charged every six months)
• MEPS interbank transaction fee: RM1

Maybank2u.Premier

• Features: Checkbook, deposit interest up to 0.4%, global CIRRUS network ATM
• Minimum opening deposit: RM500
• Minimum balance requirement: RM1,000 (otherwise a service fee of RM10 will be charged every six months)
• MEPS interbank transaction fee: RM1

Premier 1 Account

• Features: Checkbook, deposit interest up to 1%, accident insurance, and medical insurance, global CIRRUS network ATM
• Minimum opening deposit: RM1,000 to RM2,000
• Minimum balance requirement: RM50,000 (otherwise a service fee of RM5 will be charged monthly)
• MEPS interbank transaction fee: RM1

Master Foreign Currency Account

• Features: Exchange of 16 major currencies, foreign currency transactions or transfers
• Minimum opening deposit: US$1,000
• Transaction fee: US$4 or equivalent

Kawanku Savings Account

• Features: Savings passbook or ATM card, deposit interest up to 0.35%
• Minimum opening deposit: RM50 to RM250
• Minimum balance requirement: RM1
• MEPS interbank transaction fee: RM1

Maybank2u Savers

• Features: Additional savings account, ATM card application, deposit interest up to 1%
• Minimum opening deposit: RM250
• Balance requirement for interest: RM2500
• Over-the-counter transaction fee: RM5

Account Opening Requirements

The requirements for opening a Maybank account vary by account type. Generally, applicants must be at least 18 years old and provide identification documents (such as MyKad or passport) along with relevant residency or work permits. The minimum opening deposit and balance requirements for different accounts are as follows:

• Personal Current Account: Minimum opening deposit RM1,000, minimum balance RM1,000
• Maybank2u.Premier: Minimum opening deposit RM500, minimum balance RM1,000
• Premier 1 Account: Minimum opening deposit RM1,000 to RM2,000, minimum balance RM50,000
• Master Foreign Currency Account: Minimum opening deposit US$1,000
• Kawanku Savings Account: Minimum opening deposit RM250
• Maybank2u Savers: Minimum opening deposit RM250

Online Account Opening Process

The process for opening a Maybank account online is as follows:

1. Visit the Maybank website and choose the suitable account type.
2. Malaysian citizens or permanent residents with MyKad can open certain accounts online through the MAE App.
3. After successfully opening the account, transfer funds from another Malaysian bank account in the applicant's name to the new Maybank account to activate it.
4. Foreigners can fill out an application form on the Maybank website, and after receiving a confirmation SMS and email, bring the necessary documents and initial deposit to a Maybank branch within 10 working days to complete the account opening process (appointment required).