If you are looking for a suitable bank account in Malaysia, Public Bank may be one of your options. As one of the largest banks in Southeast Asia, Public Bank has over 200 branches and more than 2,000 ATMs in Malaysia, providing comprehensive financial services to customers.

Accounts Types

Public Bank offers a variety of current accounts, savings accounts, and foreign currency accounts, some of which are open to everyone and even do not require a referral. Public Bank is a licensed bank in Malaysia, providing customers with deposit protection of up to RM250,000.

Here are the features and fees comparison of some popular Public Bank accounts:

1. ACE Account: A combined savings and current account with a maximum annual interest rate of 0.8% and comprehensive monthly statements. Minimum initial deposit: RM1,000, minimum balance requirement: RM3,000. If the balance falls below the requirement, a monthly service fee of RM5 will be charged.

2. PLUS Current Account: A current account with checkbooks and monthly statements. No deposit interest, minimum initial deposit: RM3,000 (individual) / RM5,000 (business).

3. PLUS Savings Account: A savings account with a maximum annual interest rate of 0.25%, and interest credited every six months. Minimum initial deposit: RM250, minimum balance requirement: RM20.

4. PB MySalary Savings Account: A salary savings account with a maximum annual interest rate of 1.51%, and monthly interest credited to the account. Minimum initial deposit: RM20, minimum balance requirement: RM20.

5. PB Multi Foreign Currency Current Account: An account that holds 12 currencies with a maximum deposit interest rate of 2.62%. Minimum initial deposit: US$1,000 equivalent, no minimum balance requirement, and an annual account maintenance fee of RM30.

Opening Conditions

Different account types have different opening conditions:

• ACE Account, PLUS Current Account, PLUS Savings Account: Applicants must be at least 18 years old and meet the respective minimum deposit requirements. Additionally, ACE Account and PLUS Current Account require an introducer.

• PB MySalary Savings Account: The minimum initial deposit is RM20, mainly used for receiving employee salaries.

• PB Multi Foreign Currency Current Account: Open to everyone, no introducer required.

Documents and Fees

When opening a personal account, the following documents are required:

• National identity card or foreign passport
• Work or study visa/residence permit
• Other supporting documents, such as an introduction letter from an employer/school, marriage certificate, etc.

The minimum initial deposit for different account types is as follows:

• ACE Account: RM1,000
• PLUS Current Account: RM3,000 (individual)
• PLUS Savings Account: RM250
• PB MySalary Savings Account: RM20
• PB Multi Foreign Currency Current Account: US$1,000 equivalent

Online Account Opening Process

Public Bank currently does not offer online account opening services, and introducers are required for current accounts. Therefore, it is recommended to visit a branch to open an account, following these steps:

1. Visit the Public Bank website to learn about the fees and opening conditions for different account types.
2. Find the nearest Public Bank branch and check its operating hours.
3. Bring all required documents to the branch to open an account.
4. Upon successful account opening, you can receive your debit card on the same day.