Because of the ease that such services provide, commercial banks all over the world are implementing technology to improve service quality and efficiency. Malaysia, being one of Southeast Asia’s fastest-growing economies, is no exception to this trend. This is wonderful news for Malaysians exclusively; tourists and expats may find it simple, especially when doing international transactions and investments. As of 2021, there are 27 commercial banks in the nation, all of which offer internet banking services. As a result, I’d like to introduce you to a few well-known, reputable commercial banks that offer online banking services provided by locals and are worth recommending to expats.
- Public Bank
The bank is known as “Public Bank Berhad,” and it was formed in 1966 by Teh Hong Pow. Its headquarters are in Kuala Lumpur, Malaysia, and it provides financial services throughout the Asia-Pacific area. Public Bank was given a long-term AAA grade by the Malaysian Grade Agency. The Public Bank Group is noted for its strong financial performance and sound management. Domestic and international rating agencies consistently give it strong credit and financial ratings. It offers e-banking through its PBeBank website, which also has a mobile app for enhanced convenience.
As a universal bank, the bank is Malaysia’s most prominent bank, covering numerous markets in Southeast Asia. Founded in the 1960s by a Singaporean businessman, Khoo Teck Puat, the company’s headquarters are presently located in Malaysia’s capital city, Menara Maybank. Over the years, the bank has also garnered various prizes and accolades. The bank was recently recognised as the most valuable bank brand in Malaysia for three years in a row by Brand Finance Banking 500 Brand Value Report. Aside from that, the online banking service provided is one of Malaysia’s main banks’ E-Banking portals, and it has received several honours as one of Malaysia’s top 10 online sites.
- CIMB Bank
CIMB Group Berhad is a Malaysian universal bank that was created in 2006 and has its headquarters in Kuala Lumpur. The bank also serves as an investment bank for the ASEAN area, with over 10,000 branches in countries such as Singapore and Thailand. CIMB Bank’s online presence is supplied through its CIMB Clicks platform, which allows customers to undertake a variety of financial transactions.
- RHB Bank
After the merging of Kwong Yik Bank and DCB Bank in 1997, RHB or RHB Capital Berhad was formed. As Malaysia’s fourth-largest fully integrated financial services group, RHB Bank Berhad, RHB Investment Bank Berhad, OSK Investment Bank Berhad, RHB Insurance Berhad, and RHB Islamic Bank Berhad provide financial products and services, while RHB Asset Management Sdn. Bhd. and RHB Islamic International Asset Management Berhad handles asset management and unit trust operations. RHB also offers a variety of online services around the country, allowing users to do everything from transfer payments to maintain their accounts.
- Hong Leong Bank
Last but not least, Hong Leong Bank is a Malaysian bank with a public stock exchange listing. The bank was founded in 1906 by the Kwong Lee Mortage Company in Kuching, Sarawak, East Malaysia. It currently has one of Malaysia’s largest client bases, as well as services in other countries including Singapore and Vietnam. Hong Leong Connect provides an e-banking service, which includes a variety of online services such as fund transfers and bill payments.
For more financial advice and service that you need, use online banking services Malaysia for more details.