Hi guys,

I want to open a business account and plan to go ahead with Maybank. Unfortunately, I mess things out with Maybank which I need to wait for several months before I can re-apply. So now, I don't have any other option but to choose another bank but not sure which one to go for.

Does anyone have a recommendation and why? Appreciate it if you could also give an opinion. Thank you in advance.

Go with public bank or Hong Leong bank

HLB is fine.

I’d avoid the octopus one. Very user unfriendly. My BIL applied, we had to research whole night how to transfer money out lol..

Mind sharing why u recommend both bank instead of others? any perks?

Thanks for the input. So i guessing HLB is much user friendly. but how about doing transaction?

Public bank lol want transfer 10k also they will auto block yr account . Need call in to unblock ...

I wonder how did you mess up with maybank :X

Basically, I did not aware that they give me 10 days for account verification which make me did not plan in advance. I just knew they give 10 days after I apply and my schedule was pack during that time. So i have no choice but to look for other bank.

I'm using CIMB.

Why? Fewer people at the branches and CS quite good service for business banking.

If enterprise account, will get a debit card, cheque book and online portal. Very convenient.

Alliance and UOB

But how about transfer money out? coz here got 1 member said hard to transfer money because the online banking is not friendly.

Use app or online site.

More user-friendly than Maybank.

Really? is it similar to the normal CIMB apps/website? I also have saving account with them. I like Maybank more but if it the same with business one, then no problem for me to operate it.



Anyway, anyone using RHB SME/business account?

Whatever you do don't fucking open Hong leong biz connect account. It was so unnecessary with multiple account log in and approvals and passwords I got sick of it. My accountant helped me open maybank biz it was so easy to approve payroll and stat payment

Oh my..while one suggest HLB another said otherwise. But what if this is a Sole Proprietors owned business? no other person will operate the business except for me. should be fine, right?

To log into hlb connect biz account u need to authenticate with their separate connect app. Then the entire web page for it looks so freaking complicated from looking at your account to initiating a payment.

I got so upset that I texted the patient of mine who helped me open the account and said why the Ui so inconvenient he just said yeah we gotten complaints about it so often.



See this? That's what I mean. My accountant even got so frustrated with using their UI

This post has been edited by Avangelice: Apr 5 2024, 02:49 PM

wow it does look complicated. Then Im back to square one. Maybank not a valid option for me unless I wait for 1 month to re open the account with them. But they also said need to go by appointment. so Im not sure how long i need to wait and that is why I looking for alternative.

Now, HLB looks not a good option. CIMB some said hard as well. I wonder why no one comment on RHB.

Get your accountant to buka for u. At the mean time use personal account by generating qr code from Maybank qr or duit now

This post has been edited by Avangelice: Apr 5 2024, 03:17 PM

+1 Sotong bank is the worst. LOL.

And the mobile token is so annoying.

Their website is indeed not very user friendly.

I basically just about to start the business. so, i dont have any accountant and its a 1 man show as for now.

so that will be no for HLB and CIMB.

Anyone got comment or currently using RHB for business?

Ocbc biz now opening to everyone without referral. No experience maybe u can try

CHOOSE THE BANK YOU EASILY ACCESS IN PERSON

No la, HLB is a go.

HLB, ABMB, PBB - OK.

I personally using ABMB for biz account.

Alright, thx for the head up. Plus I will put into consideration opening RHB as well. so far from online it looks good.

Thanks again.

oh ya forgot about ABMB. How is the interface? user friendly? and is it easy to do transaction?

I wouldn't rule out CIMB just because of that. It just takes getting used to.
Moreover, you can always open another business account in future if you really cannot tolerate sotong.

As one who worked at a bank before and also dealing with business banking and the biz banking apps, I would definitely advise you to not put all your eggs into one basket and have two separate business banking accounts. Depending on your use of the bank e.g. whether you are more focused on internet usage or you actually need to do daily deposits of cash which is usually common for retailers, your usage of it also best determines which ones to choose. I also agree with ifourtos that you should also choose a bank which is close to you, whether your place of business or to your convenience.

The best is still maybank and standard chartered.

I think HLB connect first has a very good security feature.
It may be complicated to setup initially, but after that it's fine.

They have separate login for maker & authorizer for payment and maker & authorizer for create or edit user.

Im using MBB account but if you cant get MBB then i suggest PBB. Go with the bank that have high market cap. They will try all out in last quarter to give out loan to SME.

I would go with public. But i think you need a referral. And and how are you using your account? A lot of cash involved? Maybank’s cash room I would avoid like the plague. Public, not all have cash room but their cashiers are skilled. The saddest ive seen is bsn. Their cash count machine i think they ordered from shoppee. If you’re dumping a significant amount into the account, try looking for branch manager.

nope

it is kinda traditional a bit

Bank Islam, easy and not many people all time
Only issue is not many branch available

Actually why do you need a business account? Will a regular savings or current account not suffice? After all you're a sole proprietor meaning yourself and the "business" from a legal point of view is the same entity.

Affin & Alliance Bank. Less customers and fast in services.