What do I need to know about Standard Chartered Basic Current Account?
The Basic Current Account from Standard Chartered is a straightforward deposit account with checking facility.
Standard Chartered offers the convenience of its online banking system where you can view, manage, transfer, and make payments online easily. A simple option would be to install their phone banking app called Breeze Mobile on your Andriod or iPhone. With online banking coupled along with a mobile app, you can basically manage your banking needs anywhere.
There is no interest or overdraft tied to this account.
How do I apply for this account?
An introducer is not needed, hence all you really need to bring is your Identification Card and a minimum deposit of RM500.
What is cool about this Basic Current Account?
- You don’t need an introducer to open this current account.
- Free monthly statements
- eStatement option available
- Free ATM card
What are the drawbacks?
- The bank will charge you RM 10 every half-year if your average balance is below RM1000 (now that isn't all bad, you should be saving your money!)
- Be careful when making payments using cheques as the bank charges RM150 if your cheque bounces due to insufficient funds in your account. In addition to that, you might get blacklisted by Bank Negara