Global bank account

Fawaz.22

Member

Member since 07 October 2017

Fawaz.22

07 December 2017 02:04:27

Fawaz.22

07 December 2017 02:04:27

Hi everyone,

I am heading to kuala lumpur in Few days to open a global bank account.
I have been advised of two banks.
The first is: maybank
The second is: CIMB

Because they have the lowest exchange currencies rate?

I am wondering if there is a better option
That have a better online access to my account and with the lowest exchange rate.

And if anyone know the banks requirements to open a global account for a foreigner?. Any info that i might not know about I would be thankful.

I am planning to stay for a month
It wouldn't hurt to have some fun, any advice of places to visit would be helpful.

Thanks in advance.

Gravitas

ViP

Member since 02 March 2011

Kuala Lumpur

Gravitas

07 December 2017 05:22:17

9040

Gravitas

07 December 2017 05:22:17

9040

Kuala Lumpur

You need a Malaysian long term visa to open a bank account - i.e. work permit or MM2H - a letter from the employer (work permit) or the government (MM2H) or be a business owner (Director's Pass) here. This is part of the documention required, plus local address.

If you have an account with these banks or other international banks present in Malaysia, you can probably open foreign currency accounts with them based in Malaysia, but not a MYR account. Online services are not particularly extensive.

Don't think you get good FX rates by using say the Maybank online currency exchange system. You would need to be a priority customer to get better rates and do FX transactions say over the counter, by phone or by email.