I opened my company account at Public Bank cuz it's just round the corner from mine. However, I had some reservations because of previous experience opening a savings account (for my previous job), when I found out that they were super fussy about documents. I hate that.
There was actually one time the woman asked me to sign several thousand times on a form because my signature wasn't quite like what they had on file.
Anyway, I decided a bit of hassle was worth the convenience of them being right at my doorstep. So for what it's worth, here's how to open a company current account with Public Bank.
- Get an 'introducer' who has had a current account (personal or company) with PB for more than a year.
- Get a company stamp made. It doesn't have to have a signature line underneath. Mine's got my mascot and company name.
- Get a form to open a current account from the Customer Service person.
- Fill up the form with your company information (have your registration docs with you) and introducer details. If it's a partnership, you'll need a letter or agreement that it really is a legal partnership. Bring your IC too.
- After sending in your form and photocopied company documents, they'll tell you to wait a week while they check your company out at the Registrar. I don't know what the heck for since I had to show all my original company documents anyway.
- (As I'm writing this, I'm still waiting for them to get back to me - it's one day before they're supposed to call).
- Anyway, after they call confirming your company is indeed real and not pirated, you have to deposit a cheque of at least RM3000 (which, I was told, you can withdraw the next day).
That should be it! Let the money come rolling in!
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