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Opening a Business Bank Account

How to open a business bank account for a Malaysian Sdn Bhd. Required documents, board resolution, TIN requirements, and step-by-step process.

Last updated: April 2026 · From official Malaysian government sources

Official sources

Required Documents for Sdn Bhd

DocumentNotes
Notice of Incorporation (Section 15)From SSM — your "birth certificate"
Company constitutionOr confirmation you adopted Table A
Current SSM Business Profile (e-Info)Must be dated within last 30 days
Section 14 (Declaration of Compliance)SSM incorporation document
Section 58 (Particulars of Directors/Secretary)Shows current directors and cosec
Board ResolutionAuthorizing account opening, specifying bank, branch, signing authority
MyKad (NRIC) of all directors and authorized signatoriesOriginal + copy
LHDN Tax Identification Number (TIN)Corporate "C" number. Mandatory for MyInvois.
Tenancy agreement or utility billBusiness premises address verification

Step-by-Step Process

  1. 1
    Get Board Resolution prepared — Company secretary drafts this.
  2. 2
    Get current SSM Business Profile — Download from SSM e-Info. Must be within 30 days.
  3. 3
    Ensure you have your TIN — LHDN Tax Identification Number is now mandatory.
  4. 4
    Submit application — Some banks allow online (e.g., OCBC eBiz for <=2 directors). Most require branch visit.
  5. 5
    Branch visit — At least one director must attend with original documents.
  6. 6
    Document sighting and signing — Bank verifies originals, directors sign forms.
  7. 7
    Account activation — Make initial deposit. Typically activated within 5–10 working days.
  8. 8
    Set up internet banking — Configure Maker/Checker roles for dual-approval payments.

Timeline

  • Document preparation: 1–2 days
  • Application to activation: 5–10 working days
  • Total: ~1–2 weeks

Common Pitfalls

  • Stale SSM profile — Banks reject profiles older than 30 days. Get a fresh one just before your visit.
  • Board Resolution errors — Must match what you tell the bank (correct signatories, branch).
  • Missing TIN — Since 2025, all banks require LHDN TIN for MyInvois compliance.
  • All directors may need to attend — Some banks require ALL directors present. Confirm with branch.
  • Choosing wrong account type — SME-tier is usually cheapest for new Sdn Bhds.

Related guides

This is step 5 of 7 in the recommended setup order.

Full setup order for new founders

  1. 1Choose MSIC codes — decide BEFORE incorporation
  2. 2Engage company secretary — BEFORE incorporation
  3. 3SSM registration — cosec files via MyCoID
  4. 4Appoint MD if applicable — at or after incorporation
  5. 5Open business bank account — immediately after incorporation
  6. 6Register as HRD Corp Training Provider — after SSM + bank account
  7. 7Apply for CIP Spark — when ready, independent of above

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This guide was researched from official sources. If you spot an error, let us know.