31st March 2026 - 2 min read
Maybank will remove several charges on its basic banking accounts from April 1, 2026, including annual card fees and withdrawal charges, while also lowering the minimum deposit required for some accounts.
The changes apply to Maybank’s basic savings and current accounts, which are typically used for everyday transactions and lower-cost banking.
The RM8 annual fee currently charged for debit or ATM card usage will be removed, along with fees tied to frequent withdrawals.
Customers are currently charged RM0.50 per withdrawal starting from the ninth transaction, but this will no longer apply under the revised structure, allowing withdrawals without additional charges regardless of frequency.
The minimum initial deposit for Maybank basic current accounts will be reduced from RM500 to RM100, lowering the upfront amount needed to open this type of account.
The minimum deposit for basic savings accounts will remain at RM20.
Removing both fixed and usage-based charges shifts the cost of maintaining a basic account, particularly for those who make frequent withdrawals or rely on these accounts for regular transactions.
The lower deposit requirement also makes basic current accounts more accessible, especially for customers who prefer an account with cheque facilities or need a simpler entry point without committing a larger sum upfront.
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Samuel writes about personal finance and financial news, focusing on how banking updates, policies, and promotions affect everyday money decisions. He enjoys making complicated financial topics easier to follow. Outside of writing, he spends his time watching TV shows and occasionally convincing himself he will only watch one episode.
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