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 Internal-Dishonoured Cheques Information System (I-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:

a) Individuals

• Identification Document (e.g. MyKad, MyTentera, Passport, etc.) of all individuals operating the account.
• For a non-resident individual, he/she must fulfill one of the following conditions and must produce the relevant supporting documents:
  • A valid work permit and a confirmation letter from the employer.
  • A valid student pass and a letter of referral from the College/Institute.
  • A valid Marriage Certificate if the applicant is married to a Malaysian.  

b) Sole-Proprietorship/Partnership

• Business Registration Certificate [Perakuan Pendaftaran] (Form D).
• Business License Forms (2 pages)
  • Business Information/Maklumat Perniagaan (Page 1).
  • Latest Owner Information/Maklumat Pemilik Masa Kini (Page 2).
• Identification Document (e.g. MyKad, Passport, etc.) of the sole-proprietor/partners.  

c) Private Limited Companies

For Companies Incorporated under Companies Act, 2016

• Section 17 - Notice of Registration.
• Section 14 - Application For Registration Of A Company.
• Section 58 & 236(2) - Notification of Appointment of the First Company Secretary.
• Company's Constitution (Memorandum & Articles of Association) [Mandatory for companies limited by guarantee to have a Constitution].
• Resolution of the Company's Board of Directors (duly certified by the Chairman and the Secretary of the Company) specifying the following:
  • Appointment of Bank and Branch to open the Current Account.
  • Names and specimen signatures of the Officials/Directors/Signatories.
  • Method of signing (mode of operation) and endorsing cheques, bills and promissory notes.
  • Authority to overdraw the account.
  • Specimen of Chop or Rubber Stamp of the Company.
  • Undertaking by the Company to notify the bank via certified Resolution of all future changes affecting the mandate.
  • Authority to transfer funds from the Account to any other account on behalf of the Company.
• Identification Document (e.g. MyKad, Passport, etc.) of the directors/signatories.

    For Companies Incorporated under Companies Act, 1965

• Certified Copy of Certificate of Incorporation (Form 9) (Original Certificate to be sighted by the Bank).
• Certified Copy of Memorandum & Articles of Association.
• Certified Copy of Latest Form 24 (Companies Act, 1965) - Allotment of Shares.
• Certified Copy of Latest Form 49 (Companies Act, 1965) - Particulars of Directors, Managers and Secretaries.
• Resolution of the Company's Board of Directors (duly certified by the Chairman and the Secretary of the Company) specifying the following:
  • Appointment of Bank and Branch to open the Current Account.
  • Names and specimen signatures of the Officials/Directors/Signatories.
  • Method of signing (mode of operation) and endorsing cheques, bills and promissory notes.
  • Authority to overdraw the account.
  • Specimen of Chop or Rubber Stamp of the Company.
  • Undertaking by the Company to notify the bank via certified Resolution of all future changes affecting the mandate.
  • Authority to transfer funds from the Account to any other account on behalf of the Company.
• Identification Document (e.g. MyKad, Passport, etc.) of the directors/signatories.

d) Limited Liability Partnership (LLP)

• Notice of Registration of the LLP [Perakuan Pendaftaran] issued by Registrar of LLP.
• Register of the names, particulars and address of each Partner and Compliance Officer.
• Approval Letter from the Professional governing body to form a LLP and a valid Professional Indemnity Certificate (applicable for Professional Practice LLP only).
• 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:
  • Appointment of Bank and Branch to open the Current Account.
  • Names and specimen signatures of the Authorised Signatories.
  • Method of signing (mode of operation).
• Identification Document (e.g. MyKad, Passport, etc.) of the partners/signatories.