Digital Banks in Malaysia to Check Out for Convenient Services

Digital banking is revolutionizing the financial landscape worldwide, and Malaysia is no exception. With the rise of fintech, Malaysian consumers now have access to a range of digital banks that offer innovative solutions tailored to modern banking needs. This article explores some of the top digital banks in Malaysia worth checking out.

GX Bank

GXBank, Malaysia's first digital bank, offers a fully online banking experience without any physical branches. The bank is headquartered in Kuala Lumpur but operates primarily through its mobile app and website, providing 24/7 support through its hotline (+603 7498 3188) and email.

To open a GXBank account, you must be a Malaysian resident aged 18 or older and have a registered Malaysian mobile number. The account opening process is quick, typically taking about 4 minutes through the GXBank app. You will need to perform MyKad verification and a selfie for identification purposes. After your account is set up, there is no minimum balance required, no balance limit, and no lock-in period. For more information or to open an account, you can visit GXBank's official website or download their mobile app (App Store or Google Play).

Ongoing promotions:

• RM8 Referral Reward: Earn RM8 cashback every time someone uses your referral link to successfully open a GXBank account.

• Earn 1.5x GrabRewards points when you use the app.

AEON Digital Bank

AEON Digital Bank, Malaysia's first fully Islamic digital bank, launched on May 26, 2024. It operates without physical branches, leveraging digital platforms to provide comprehensive Shariah-compliant banking services. AEON Digital Bank is headquartered in Kuala Lumpur, functioning primarily through its mobile app and website.

To open an account with AEON Digital Bank, you need to be a Malaysian resident aged 18 or above. The account opening process is fully online and straightforward. First, download the AEON Digital Bank app (App Store or Google Play), complete the registration process, which includes MyKad verification and a selfie for identity confirmation, and link your mobile number and email address to your account. Finally, set up a funding source to activate your account with a minimum deposit. For more information or to get started, you can visit the AEON Digital Bank website.

Ongoing Promotions:

• Open a Savings Account-i and get rewarded with 3,000 AEON Points (RM15) instantly

• Spend and earn 3x AEON Points anywhere (terms and conditions apply)

• Enjoy an RM12 issuance fee waiver on your physical Debit Card-i

• Enjoy a 1-year membership fee waiver for AEON Points Programme

Boost Bank

Part of the Boost fintech company and in partnership with RHB Bank, Boost Bank received regulatory approval to start operations in January 2024. Boost Bank is headquartered in Kuala Lumpur, Malaysia. While the bank primarily operates digitally, its operations are backed by Axiata and RHB's established infrastructure.

Boost Bank initially held an alpha-testing phase to fine-tune the user experience and product offerings before their public launch on June 6​​. For more information and to stay updated on the latest developments, you can visit Boost Bank's official website. Download the Boost Bank app (App Store or Google Play) and create an account to enjoy their initial products:

• Savings Account: No minimum deposit, hidden charges, or lock-in period. Plus earn up to 2.5% p.a. daily interest.
• Savings Jars: A feature allowing users to set and achieve specific savings goals, with up to 4% p.a. daily interest.