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Steps to Open a Bank Account in Malaysia for Students in 2025

By Shahd Ashraf | Updated 18 hours ago | 14 min read
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If you’re an international student in Malaysia, one of the first things you’ll want to do is open a local bank account. 

It makes life so much easier; whether you need to pay tuition, receive money from home, or manage your daily expenses. 

Good news: the process is simple if you know what to expect. Here’s a guide to help you open a bank account in Malaysia for student.

Can International Students Open a Bank Account in Malaysia?

student bank account in malaysia

Yes, absolutely! International students are allowed to open bank accounts in Malaysia. All you need is a valid student visa/pass and some basic documents.

Types of Bank Accounts for Students in Malaysia

As a student, you can usually open:

• Savings Account – Great for daily use, with access to online banking and ATMs.

• Current Account – Sometimes needed for certain payments or transactions.

• Student Accounts – Some banks offer special student cards.

Best Banks in Malaysia for International Students

student bank account in malaysia (2)

Here are a few popular banks among students in Malaysia:

• Maybank – Widely accessible, great mobile app, and student services.

• CIMB Bank – Easy to open an account, with handy online banking options.

• RHB Bank – Known for simple processes and helpful customer service.

• HSBC Malaysia – International bank with global access, ideal for overseas transfers.

Tip of the day: Choose a bank close to your university or residence for easy access.

Documents You Need to Open a Student Bank Account in Malaysia

Before heading to the bank, make sure you have these:

  1. Valid passport
  2. Student visa/pass (like i-Kad or student pass)
  3. Letter of enrollment or offer from your university
  4. Proof of local address (e.g., rental agreement or dorm confirmation)
  5. Some banks require a minimum deposit (usually RM250–500)

Step-by-Step Guide to Opening a Bank Account in Malaysia for Students

1. Pick a bank and choose the account type that suits you.

2. Visit a branch near you (some banks allow online appointment booking).

3. Submit your documents to the bank staff.

4. Fill in the forms they provide.

5. Make your deposit, if needed.

6. Receive your account details, ATM/debit card, and instructions for online banking.

That’s it! The whole process usually takes about 30–60 minutes.

Tips for Managing Your Student Bank Account in Malaysia

• Track your balance using online or mobile banking apps.

• Be aware of monthly fees and ATM limits.

• Maintain the minimum balance to avoid penalties.

• Use international money transfer services offered by your bank for better rates.

Safety & Scam Awareness Tips for Students

student bank account in malaysia (3)

đźš« Ignore suspicious calls, messages, or emails asking for personal or banking details.


🏦 Only use official banking apps and websites. Avoid clicking on links sent through SMS or WhatsApp.


🕵️‍♂️ Be alert to investment scams or "money mule" requests. If someone asks you to receive money in your account for a "small reward," it’s a scam.

If something feels off, visit your bank or university international office immediately.

FAQs

1. Can I open a bank account before arriving in Malaysia?

Most banks require students to be physically present to verify their identity.

2. Do I need a local phone number to open a bank account?

Yes, most banks require a Malaysian phone number for online banking and SMS notifications. It’s best to get a local SIM card before opening your account.

3. How much money do I need to deposit to open a student account?

The required minimum deposit varies by bank, ranging from RM250 to RM500. Some banks may waive the minimum deposit for students.

4. Can I transfer money from my home country to my Malaysian account?

Yes! Most banks provide international money transfer services. 

5. Will my student bank account come with a debit card?

Yes, you’ll receive an ATM/debit card after opening your account. 

6. What if I don’t have a local address yet?

Some banks accept a letter from your university confirming your student status and dormitory address instead of a rental agreement. Check with the bank for specific requirements.

Written by Shahd Ashraf
Updated 18 hours ago | min read

Shahd Ashraf is a reader, a writer, an English teacher, and a lover of classical language. Her passion for language began when she joined a poetry club in college. Shahd’s writing extends beyond words and yearns to connect with the reader on a meaningful level.

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