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Open an Offshore Bank Account with Malaysia AmBank

AmBank Malaysia is one of the leading banking centers in the country. It offers comprehensive financial services to all its customers, coupled with 40 years of vast experience and expertise. The bank has also contributed a great deal to the economic growth of Malaysia since its inception. Currently, AmBank Malaysia serves more than 3 million personal and corporate customers worldwide, offering them services such as offshore banking, business banking, wholesale banking, investment banking, retail banking, and Islamic banking, to mention a few.

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In today's world, more and more corporations are looking for ways to manage their finances across different regions of the globe effectively, which is no different in the Asia Pacific. As a result, banks are now adopting policies that will help ease the transactional burdens that such businesses face when dealing with various currencies in different countries. AmBank is one such institution. Over the years, it has evolved in a variety of ways and is now a pillar of financial excellence in the world of banking, and shows no signs of slowing down.

 

1. AmBank Malaysia

AmBank Malaysia is one of the leading banking centers in the country. It offers comprehensive financial services to all its customers, coupled with 40 years of vast experience and expertise.

 

The bank has also contributed a great deal to the economic growth of Malaysia since its inception. Currently, AmBank Malaysia serves more than 3 million personal and corporate customers worldwide, offering them services such as offshore banking, business banking, wholesale banking, investment banking, retail banking, and Islamic banking, to mention a few.


ambank logo

 

2. Benefits of setting up an offshore AmBank business bank account

An offshore AmBank business account offers its clients a wide variety of financing options such as trading facilities, loans, financing, overdrafts, and cash management solutions.

 

Some of the other benefits associated with the account include, but are not limited to:

  • Access to competitive margins of financing in terms of      maximizing collateral.

  • Account-holders have the option of requesting tailored      financing solutions that are suitable for them and in line with their      business models.

  • An AmBank business account also offers customers access to CGC      guarantee schemes for their SMEs if they have a viable business outlook.

 

3. Documents required for opening an offshore business bank account with AmBank Malaysia

 

There are certain documents that one must present to AmBank before opening a business account with them. They include:

  • Certification documents.

  • Copies of KYC.

  • Copies of articles of association.

  • Individuals must also give proof of ID and address.

 

However, depending on the situation, the bank can still request additional documentation if they need clarification on some issues.

 

4. Cost of setting up an AmBank offshore business account

According to the AmBank website, the initial deposit required for setting up such an account is RM150, 000. Any other amount will be subject to specific interest rates that the bank will inform you of during your application process. There are also monthly and annual maintenance fees associated with the account.



5. Process of opening up an AmBank offshore business bank account

The first step in setting up your AmBank offshore business bank account is the application process. With the current COVID-19 situation, the bank currently allows customers to fill out their applications online and submit the necessary documents the same way. There is also teleconferencing where you and representatives of the bank can discuss your application and sort out any issues.

 

Before your offshore AmBank business bank account can be fully set up and become active, you will have to fill out the application form to the satisfaction of the bank. Then present all the necessary documents, pay any fees required, and make the first initial deposit. Once all this is done, you will be able to utilize the complete services of your AmBank offshore business account.

 

6. FAQs

Q1. Can I open an AmBank Malaysia offshore business bank account if I am not a country resident?

Depending on which county you reside in, yes, you can. The bank offers online application facilities to its overseas customers through its online platforms. All this includes application forms to which you can send in your documents if you are unable to visit one of their branches.

 

Q2. Are there any benefits to opening an offshore business bank account with AmBank?

Yes, they are. Clients with an AmBank offshore business bank account enjoy various benefits such as fast transactions, round-the-clock banking, tailored loan facilities, investment advice, and flexible payment options.

 

Q3. In case of any issues with my account, can I call AmBank for help?

Yes, you can. With round-the-clock banking services for its offshore customers, there is a call center where overseas clients can call in to get help with any troubles they are having with their accounts.


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