Maybank Launches Online Business Account Opening For SMEs

Maybank Launches Online Business Account Opening For SMEs

Small and medium industries (SMEs) in Malaysia can now open an online business account instantly via Maybank.

Through Maybank’s online banking platform, Maybank2u, business owners will now be able to open a conventional or an Islamic business account, wherever they are and without an introducer.

This service is aimed to enhance the progress of SMEs in Malaysia. Datuk John Chong, Group Chief Executive Officer of Maybank’s Community Financial Services (CFS) said,

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“SMEs are an important engine of growth for Malaysia, contributing 38.3% to the GDP. Opening a business account is a key step to enabling them to access a host of banking solutions that can support their operational demands and meet expansion needs.”

Details about the new launch:

  • The first of its kind and fastest in Malaysia.
  • Available to new and existing customers.
  • Available for micro, small and medium enterprises as well as sole and non-sole proprietors.
  • Customers are required to activate the account within 10 working days by visiting their pre-selected branch.
  • SMEs can place fixed deposits, tap on payroll and payment solutions (including credit cards, Maybank QRPay, and Tap2Phone via their account.
  • Equipped with an intelligent capacity that is able to recommend the best banking account for a SME based on its size, nature and location.

The feature also consists of online financing feature which provides instant approvals to eligible applicants within 24 hours.

Below are the details of financing amounts being provided by Maybank:

For micro-entrepreneurs, the financing amount is from RM20,000 to RM50,000.

For SMEs, the financing amount is up to RM1.5 million.

[Source: 1, 2]

[Main picture source: Maybank]

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