What is Standard Chartered Basic Current Account about?
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 benefits can I get from this Basic Current Account?
- Free monthly statements
- eStatement option available
- Free ATM card
What are the drawbacks?
- The bank will charge you RM10 every half-yearly if your average balance is below RM1,000 - make sure you make more deposit than withdrawal.
- Be careful when making payments using cheques as the bank charges RM159 if your cheque bounces due to insufficient funds in your account. In addition to that, you might get blacklisted by Bank Negara Malaysia.