How to open a Current Account?

To open a Current Account, an Introducer is required. The Introducer must have the following criteria :-
  • The Introducer can be an individual or non-individual (eg. company, partnership, etc.) having good knowledge of the applicant and be present at the Account Opening branch.
  • Maintains an active Current Account with Public Bank for more than 12 months.
  • Maintains a good track record without any Dishonoured Cheque (DCHEQS) offence and no frequent representation of cheques.
  • Must not have committed any act of bankruptcy or been subject to any resolution or petition for winding up or insolvency.
When opening a Current Account, you are required to :-
  • Furnish the particulars required to open the account and declare that all the information is correct.
  • Undertake to inform the Bank of any changes to your details.
  • Provide the Bank with all such documents/forms, as may be prescribed by the Bank, together with your specimen signature for sighting/verification by the Bank's authorised officer.

Documents Required to Open a Current Account are as follows:

Individuals
  1. Identification Document (e.g. MyKad, MyTentera, Passport, etc.) of all individuals operating the account.
  2. For a non-resident individual, he / she must fulfill one of the following conditions and must produce the relevant supporting documents.
    1. A valid work permit and a confirmation letter from the employer.
    2. A valid student pass and a letter of referral from the College/Institute.
    3. A valid Marriage Certificate if the applicant is married to a Malaysian.
  1. Business Registration Certificate [Perakuan Pendaftaran] (Form D).
  2. Business License Forms (2 pages)
    1. Business Information / Maklumat Perniagaan (Page 1).
    2. Latest Owner Information/Maklumat Pemilik Masa Kini (Page 2).
  3. Identification Document (e.g. MyKad, Passport, etc.) of the sole-proprietor/partners.
 For Companies Incorporated under Companies Act, 2016
  1. Section 17 - Notice of Registration.
  2. Section 14 - Application For Registration Of A Company.
  3. Section 58 & 236(2) - Notification of Appointment of the First Company Secretary.
  4. Company's Constitution (Memorandum & Articles of Association) [Mandatory for companies limited by guarantee to have a Constitution].
  5. Resolution of the Company's Board of Directors (duly certified by the Chairman and the Secretary of the Company) specifying the following:
    1. Appointment of Bank and Branch to open the Current Account.
    2. Names and specimen signatures of the Officials / Directors / Signatories.
    3. Method of signing (mode of operation) and endorsing cheques, bills and promissory notes.
    4. Authority to overdraw the account.
    5. Specimen of Chop or Rubber Stamp of the Company.
    6. Undertaking by the Company to notify the bank via certified Resolution of all future changes affecting the mandate.
    7. Authority to transfer funds from the Account to any other account on behalf of the Company.
  6. Identification Document (e.g. MyKad, Passport, etc.) of the directors/signatories.
 For Companies Incorporated under Companies Act, 1965
  1. Certified Copy of Certificate of Incorporation (Form 9) (Original Certificate to be sighted by the Bank).
  2. Certified Copy of Memorandum & Articles of Association.
  3. Certified Copy of Latest Form 24 (Companies Act, 1965) - Allotment of Shares.
  4. Certified Copy of Latest Form 49 (Companies Act, 1965) - Particulars of Directors, Managers and Secretaries.
  5. Resolution of the Company's Board of Directors (duly certified by the Chairman and the Secretary of the Company) specifying the following:
    1. Appointment of Bank and Branch to open the Current Account.
    2. Names and specimen signatures of the Officials/Directors/Signatories.
    3. Method of signing (mode of operation) and endorsing cheques, bills and promissory notes.
    4. Authority to overdraw the account.
    5. Specimen of Chop or Rubber Stamp of the Company.
    6. Undertaking by the Company to notify the bank via certified Resolution of all future changes affecting the mandate.
    7. Authority to transfer funds from the Account to any other account on behalf of the Company.
  6. Identification Document (e.g. MyKad, Passport, etc.) of the directors/signatories.
  1. Notice of Registration of the LLP [Perakuan Pendaftaran] issued by Registrar of LLP.
  2. Register of the names, particulars and address of each Partner and Compliance Officer.
  3. Approval Letter from the Professional governing body to form a LLP and a valid Professional Indemnity Certificate (applicable for Professional Practice LLP only).
  4. Resolution passed according to the terms as stated in the LLP Agreement OR by a majority of the partners of the LLP resolving the following:
    1. Appointment of Bank and Branch to open the Current Account.
    2. Names and specimen signatures of the Authorised Signatories.
    3. Method of signing (mode of operation).
  5. Identification Document (e.g. MyKad, Passport, etc.) of the partners/signatories
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