What are the top things to look for when opening a bank account in MY?

Hi All,

Need your urgent help to zero down on the best bank that I should be opening an account with.
What are the top things to consider? Are local banks better than the global ones?

I was thinking of HSBC. Should I consider opening an account with them? If not then why?

It depends on what you want from a bank.
Did you try first to research "banks review in kuala lumpur"?

Here is what i found, that even international banks dont share ability, they are for some reason limited when operating in Malaysia.

The best local bank is Maybank, they are full service and handle international transfers and so on. In international banks, there is HSBC, OCBC and Standard Chartered, all of which have high fees for everything and the lowest interest paid on savings accounts. Maybank has international branches but those are for specialized work like VIP accounts, special loaning for construction projects, not full service like the local branches. There is also the american Citibank but if I remember they only take on rich customers. I think the minimum deposit is RM250,000 (?)

Point being, there is no one bank here that allows a person to expect the same or better service at another of its branches abroad. An OCBC account in Malaysia wont offer the same service at the OCBC branch in California, leading one to just take an account where they are living. Since there is no purpose in paying the highest possible charges at a given global bank, then stick with the best of the normal banks and thats probably Maybank.

Different expats have different needs and preferences so maybe they can chime in about some special service they have been able to enjoy at their preferred bank.

This said, I basically despise all banks and among the reasons is that in Malaysia they are protected by the govt to shield themselves from customers. If your money is stolen, if something goes wrong, if there is credit card fraud, they are not responsible unlike US banks, for example. I hope one day that changes.

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