Tell me about the Bank Muamalat Basic Current Account-i.
The Bank Muamalat Basic Current Account-i is a Shariah-compliant transactional account (based on the Qard or Tawarruq concept) designed to provide essential banking services at a minimal cost. It is an ideal entry-level checking account for individuals, small business owners, and SMEs who want to manage their daily finances ethically while earning attractive profit rates on their balances.
How do I benefit from using i-Muamalat?
As an account holder, you gain full access to i-Muamalat internet banking and the mobile app. This allows you to perform fund transfers (DuitNow, IBG), pay bills via JomPAY, and manage your finances from the comfort of your home. The platform is secure and user-friendly, ensuring that your day-to-day banking is hassle-free.
Does the account come with a cheque book or debit card?
Yes, it does. The account provides a Debit Card-i for seamless cashless transactions and ATM withdrawals nationwide. A cheque book is also available upon request, making it a practical choice for those who need to facilitate business or personal payments via cheques.
Do I get bank statements with the Bank Muamalat Basic Current Account-i?
Yes, you do. You can enjoy free account statements to track your spending and income. These are accessible via the i-Muamalat portal as e-statements, or you can opt for hardcopy versions if preferred.
Do I need an introducer to open this account?
Typically, for Basic Current Accounts in Malaysia, the requirement for an introducer is waived to make banking more accessible. You can apply directly by visiting a branch or starting your application online through the Bank Muamalat website.
Are overdraft services provided?
No. As this is a Basic Current Account-i, there are no overdraft (Cashline-i) facilities or credit lines provided. You can only spend the funds available in your account.
How do I apply for the Bank Muamalat Basic Current Account-i?
When you are ready to make an application, there are a few important things to remember to ensure a smooth process. You must be an individual aged 18 years and above and be prepared to provide a minimum initial deposit of RM500. Additionally, you will need to present your NRIC or passport for identification, and you may be asked for a copy of a utility bill to serve as verification for your registered address.
