Products

Savings-i & Deposits-i / eCurrent Account-i (eCA-i)
Bank Rakyat is leading the transformation of Current Account with the latest electronic innovation in Malaysia that realizes the dreams and hopes of Current Account users who want a simple and fast banking transaction.
  • Hibah (if any) are at the sole discretion of the Bank.
  • Transact online at any time
  • Monthly statements to all account holders is free of charge
  • Minimum balance to be maintained in the account is RM 0.01
EFFICIENT PROCESS
  • NO PROBLEM MANAGING CHEQUES thus able to avoid loss and error in managing cheque
  • NO WORRIES as the use of electronic channel is safe and proven successful
  • NO RESTRAINTS in storage space as to minimize operating costs
GREATER FLEXIBILITY IN ACCOUNT MANAGEMENT
  • NO LIMITS in banking hour and location
  • NO ISSUES in managing funds because the account will be debited on the due date of payment
  • NO EXTRA COSTS for unproductive work such as delivery, parking and other costs
COST EFFECTIVE
  • NO DIFFICULTY and increase productivity through payment and receipt of funds efficiently and quickly
  • NO ACCOUNT RECONCILIATION PROCESS and avoid errors by reducing manual processes
  • NO COMPLICATIONS in fund management, account reconciliation process and review process via e-Statement
MAXIMUM CONFIDENTIALITY
  • NO LEAK in confidential information on the identity of the account holder/operator
  • NO DISCLOSURE of confidential information on the signature of the account holder/signatories
  • NO FRAUD related signatures and cheque duplication
PAYMENT METHOD THAT WORKS
  • NO DOUBT in using proven electronic banking channels and instruments
  • NO WORRY about payments' security because it is credited directly to the recipient's account
  • NO DISCRIMINATION because the facility i-Rakyat Commerce - Desktop Banking is open to all non individuals interested in enjoying the effective service
TRANSPARENT
  • NO HIDDEN COSTS because all costs are transparently disclosed 

  • Individual:
    • 18 years and above
    • Not bankrupt
    • Minimum deposit of RM500 for account opening
  • Non individual:
    • Companies, associations, clubs, societies, professional bodies and government agencies
    • Not subject to any winding-up order or court action
    • Minimum deposit of RM1,000 for account opening
  • An introducer is required for account opening
FORM
  • Account Opening cum Specimen Signature Form
  • Customer Information Form (CIF)
  • Rules and Regulations (T&C)
  • The Board of Directors Resolution sanctioning the request to open account for the company
  • iRakyat Commerce Application Form
  • The Board of Directors Resolution sanctioning the request to open iRakyat Commerce
DOCUMENT REQUIRED
  • Sole-proprietorship / Partnership – Borang A, D, B (if any), Certificate of Practice (Borang O) & Borang Q (if renewed)
  • Professional – Law Firm (Confirmation Letter from the Bar Council, Certificate of Practice), Accountant (Confirmation Letter from MIA, Certificate of Incorporation – SSM), Doctor (Confirmation letter from Medical Council, Certificate of registration from MMC)
  • Company – Borang 9, 24, 49 M & A, Board of Directors Resolution, Certificate of Practice (Borang O) & Borang Q (if renewed)
  • Co-operatives, Associations, Clubs, Societies, Religious Body Account – Certified copy of Rules and Regulations or By-Laws, Confirmation Letter from Jabatan Agama Negeri, Original Certificate of Registration issued by the Registrar of Societies, Certified Extract of the Minutes of Meeting approved by the Committee.
  • Verified copy of myKad/Passport

Individual: Minimum deposit RM500
Non Individual: Minimum deposit RM1,000

OPENING OF ACCOUNT
SERVICES TRANSACTIONS CHARGES
CTOS Check All types of account Free
SSM Check Company Account Free
DEPOSIT  
Coin deposit Individual and Small and Medium Enterprises (SMEs) accounts Free
For non individual accounts:   
First RM1,000.00 Free
RM1,000.00 to RM5,000.00 RM3.00
More than RM5,000.00 RM5.00
Note: No fee will be charged for coin deposit via Coin Deposit Machine
Postage Charges

For mailing Image Returned Document (IRD) not collected after 3 days (by normal mail) to account holder    

RM2.00

WITHDRAWAL
Exchange of Coins Individuals and Small and Medium Enterprises (SMEs) account Free of charge
For non individual account:
Loose (RM200.00 and below) Free of charge
Bulk exchange for more than RM200.00 RM7.00 for each bag
DISCLOSURE OF CUSTOMER INFORMATION
Ad Hoc Statement  

RM2.00 per page

(minimum RM5.00)

Audit confirmation   RM30.00
Bank confirmation (Account status confirmation/letter of reference)

 

RM20.00
CURRENT ACCOUNT STATEMENT
Change in Frequency

From monthly to bi-weekly

RM5.00 for every month

From monthly to weekly

RM10.00 for every month

Duplicate Statement  

RM20.00 for every month

CLOSURE OF ACCOUNT

Closure within 3 months of Openinga

 

RM20.00

(For Account with balance below RM20, the Bank will absorb the remaining balance in the account as service charge)

GENERAL
Marked Cheque   RM15.00 per cheque
Bankcard (Kad ATM) Annual Fee RM8.00* every year
Card Replacement RM8.00

The published rates, fees and charges are effective from 1st November 2018 following the implementation of 6% SST from 1st September 2018. Terms & conditions apply.

For any enquiries, please visit the nearest branch or call our Contact Centre tele-Rakyat at 1-300-80-5454.

*Terms and conditions apply.