Basic Banking Services

Basic Savings Accounts (BSA) and Basic Current Accounts (BCA) are offered at all banking institutions to Malaysians and permanent residents. These accounts can be opened under individual or joint names. Small and Medium Enterprises (SMEs) particularly the micro enterprises are also eligible to apply for BCAs. BSA and BCA operate in the same way as the ordinary savings or current accounts except that these accounts enable you to perform only basic transactions and at a minimal cost or for free.

For more information, download Guide on Basic Savings and Current Accounts [PDF, 5.31 MB]

Microfinance

Financing amount of up to RM50,000 and without collateral, Pembiayaan Mikro are offered to micro enterprises and self employed individuals in a fast, easy and convenient manner by 10 participating financial institutions.

For more information, refer  to the Access to Financing for Micro Enterprise Section.

Microsavings

Long-term contractual microsavings with low committed periodical savings and favourable terms is currently being piloted by financial institutions  to inculcate a healthy savings habit, particularly the low income households.

Microinsurance and Microtakaful

Small valued insurance and takaful products which are cost effective, accessible and easy to understand are currently being piloted by some insurers and takaful operators to protect all segments of the society, particularly the low income households against unexpected adverse events.

Remittance

Remittance services are provided by banking institutions and non-bank remittance service providers (RSPs) through branches and/or authorised remittance agents. Licensed non-bank RSPs  operate in strategic locations nationwide, including rural areas and offer services beyond normal business hours.

• List of Licensees Offering Remittance Services

SME Financing

A holistic SME financing ecosystem was created to provide avenues for SMEs to seek information, advice and redress, as well as assistance through debt resolution and management. 

For more information on SME financing, refer to the Financing for SMEs Section.

Payment Services

Electronic payments (e-payments) play a pivotal role in facilitating a more convenient, secure and cost-effective means of conducting payments over paper-based payment instruments. The benefits of migrating to e-payments are not only limited to financial efficiency gains but also the promotion of an inclusive financial system.

For more information on migration to e-payments initiative, refer to Migration From Paper To Electronic Payments Section.