Bank Accounts & SIM Cards in Malaysia
A practical guide to opening a bank account and getting a SIM card — two essential steps in your first week of arriving in Malaysia.
Opening a Bank Account — First Step After Arrival
A Malaysian bank account is essential for receiving family transfers, paying rent and subscribing to services. Most universities do not accept cash payments.
Best Banks for International Students
Maybank
Malaysia's largest bank with the most branches. Free Youthsaver account with no monthly fees. Excellent app. Free Visa/Mastercard.
CIMB Bank
Second largest in Malaysia. Free CIMB Junior account. Fast, excellent digital service. Widespread near most universities.
Public Bank
Trusted and stable. Accounts with no minimum balance. Suitable for those wanting a conservative, reliable bank.
RHB Bank
Good option with less queuing. Easy-to-use app. Student accounts with flexible conditions.
Documents Required to Open an Account
- Original passport
- Student Pass or entry stamp in passport
- Letter from the university confirming you are a registered student (some banks require this)
- Residential address in Malaysia (apartment number or university hostel)
- Malaysian phone number (required for SMS verification)
Digital Payment Apps
Touch'n Go eWallet
The most popular and widely accepted. For transport, restaurants, malls and parking. Start with RM 10 and top up from your bank account.
ShopeePay
A popular digital wallet linked to the Shopee app. Used for online shopping, restaurants, and select stores, with frequent vouchers and cashback.
GrabPay
Integrated in the Grab app. Convenient if you use Grab daily. Accepted by most Grab partners.
MAE (Maybank)
For Maybank customers — a fast digital wallet linked directly to your account. Ideal for instant transfers between students.
SIM Cards — Get Internet from Day One
Buying a SIM card is one of your first steps upon arrival. Find them at the airport directly or at any phone shop.
| Operator | Student Plan | Data | Approx. Price |
|---|---|---|---|
| Maxis (Hotlink) | Flexible monthly plan | 12–30GB | RM 30–60/month |
| Digi | Digi Prepaid | 10–20GB | RM 25–50/month |
| Celcom | Monthly plan | 15–40GB | RM 35–70/month |
| U Mobile | Giler Unlimited | Near-unlimited | RM 38–55/month |
Sending Money from Abroad
- Wise (TransferWise): The cheapest and fastest for electronic transfers. Fees 0.5–1.5%.
- Western Union: Fast and available in most countries. Fees 1–4% of the amount.
- Al Rajhi Malaysia: For Al Rajhi Saudi customers — direct transfer to a Malaysian account with ease.
- SWIFT bank transfer: The slowest but most secure. 3–5 business days.
- Gulf bank apps: Many Saudi and UAE banks allow transfers to Malaysia directly from their app.
Want a Complete Checklist for Your First Week in Malaysia?
Contact us and we will send you the "Your First Week" guide — a complete list of everything you need to do right after arrival.