In addition to a rich range of deposit and credit card products, Hong Leong Bank (HLB) also provides a series of other featured services to meet the diverse financial needs of customers. These services include safe deposit box services, current accounts and overseas current accounts, as well as a convenient account opening guide. This article will introduce these services in detail to help you have a more comprehensive understanding of Hong Leong Bank's financial solutions.

I. Safe Deposit Box Service: A Safe Haven for Protecting Valuables

The safe deposit box service of Hong Leong Bank provides customers with a safe and reliable place to store valuable items. The following is a detailed introduction to this service:

(I) Sizes and Rental Fees of Safe Deposit Boxes

The bank offers 3 different sizes of safe deposit boxes to meet the needs of different customers:

• 3” x 10” x 24”: The annual rental fee is RM400.
• 5” x 10” x 24”: The annual rental fee is RM460.
• 10” x 10” x 24”: The annual rental fee is RM600.

The above fees are only applicable to Hong Leong Bank branches. The fees of other branches may vary, and customers need to consult their relationship managers for specific information. In addition, customers should also note that government taxes may be payable.

(II) Other Information

• Terms and Conditions of Use: When using the safe deposit box service, customers are required to comply with the relevant terms and conditions of the bank. These terms are designed to ensure the security and standardization of the safe deposit box service, and at the same time protect the rights and interests of both customers and the bank. Before applying for and using the safe deposit box service, customers should carefully read and understand these terms, and can consult bank staff at any time if they have any questions.
• Obtain a Complete Fee List: If customers want to know more about the fee details of the safe deposit box service, they can click on the relevant link on the website to obtain a complete list of fees and charges. This will help customers have a comprehensive understanding of the rental fees of different sizes of safe deposit boxes, other possible additional fees, and the fee differences among different branches, etc., so that customers can make reasonable decisions according to their own needs and economic conditions.

II. Current Accounts and Overseas Current Accounts: Flexible Fund Management Solutions

(I) Basic Current Account

• Account Features: The basic current account is a multi-functional bank account that provides customers with convenient fund management solutions. Its features include:
  • Low Account Opening Threshold: The minimum initial deposit for account opening is only RM500, which reduces the financial threshold for customers to open an account, enabling more people to easily own a bank account and enjoy financial services.
  • Provision of Cheque Book: It provides customers with a cheque book facility to meet their cheque payment needs in scenarios such as commercial transactions and bill payments, providing another flexible payment method in addition to cash and electronic payments.
  • Convenient Account Management: It provides electronic statements every month, making it convenient for customers to check the transaction details and balance changes of their accounts at any time, helping customers better manage their personal or corporate financial situations and promptly detect and handle abnormal transactions.
  • Convenience of Multi-channel Operations: Customers can conduct account operations such as depositing, withdrawing, transferring, and checking the balance through various channels of Hong Leong Bank, including its nationwide branch network, ATMs, telephone banking, and Hong Leong Connect. This enables them to manage their account funds anytime and anywhere, improving the efficiency and convenience of fund use.
• Account Opening Eligibility and Restrictions:
  • Identity and Age Requirements: The account opener must be a Malaysian citizen or a permanent resident aged 18 and above to ensure the legal use of the account and the security of funds.
  • Limit on the Number of Accounts Opened: Each account holder can only open one single or joint basic current account with the bank to avoid difficulties in managing funds and possible fees due to the opening of too many accounts by customers.
  • Applicable Objects: In addition to individual customers, this account is also applicable to small and medium-sized enterprises (SMEs), providing convenience for the daily fund receipt and payment, salary payment, and expense disbursement of SMEs, and supporting the business operation and development of SMEs.
  • Limit on Account Functions: The basic current account does not have an overdraft loan facility, and customers need to conduct fund operations within the account balance range to ensure the compliance of account transactions and risk control.
• Fees and Protection:
  • Fee Explanation: The bank provides a complete list of fees and charges for customers' reference, and customers can click on the relevant link on the website to view it. The fees may include account maintenance fees, cheque handling fees, transfer fees, etc., and the specific fee standards may vary depending on factors such as customer type and account usage.
  • Fund Protection: Hong Leong Bank is a member of the Malaysia Deposit Insurance Corporation (PIDM), and each depositor can obtain protection of up to RM250,000 from PIDM. This means that customers' account funds are protected by PIDM in the bank. Once the bank encounters financial problems, customers can obtain corresponding compensation according to the relevant regulations of PIDM to ensure the safety of funds.

(II) Current Account

• Basic Account Information: The current account is an account product designed by Hong Leong Bank to meet the daily transaction and fund management needs of customers. Its basic information is as follows:
  • Low Account Opening Threshold: Similarly, only RM500 is required to open an account, providing customers with a low-threshold entrance to bank services, facilitating customers to quickly establish a financial cooperation relationship with the bank and carry out various financial activities.
  • Cheque Book Service: It provides customers with a cheque book to meet their cheque payment needs in scenarios such as commercial cooperation and large-value payments, enhancing the flexibility and convenience of payment.
  • Convenient Account Management: It provides electronic statements every month to help customers clearly understand the fund flow of their accounts, facilitating customers to conduct financial planning and analysis, and promptly grasp the account status to make reasonable fund arrangements.
  • Convenient Operation: It supports operations through various channels such as nationwide branches, ATMs, telephone banking, and Hong Leong Connect. Customers can choose the appropriate channel for account management according to their own needs and living habits, achieving efficient operation and convenient use of funds.
• Account Opening Eligibility: It is applicable to customers aged 18 and above, including various entities such as associations, small enterprises (sole proprietorships, partnerships), clubs, associations, and schools. This enables the current account to be widely applied to different types of organizations and individuals, meeting diverse financial needs and providing comprehensive bank service support for various customers.

(III) Overseas Current Account

• Applicable Scenarios: The overseas current account is specifically designed for the following groups of people to meet their special needs in overseas fund management:
  • Malaysians Working Overseas: It provides convenient fund management services for Malaysians working overseas, facilitating them to handle financial affairs such as salary management, living expense payment, and remittance back to Malaysia during their overseas work. At the same time, it helps them effectively manage the risk of exchange rate fluctuations and ensure the reasonable use and safe transfer of funds.
  • Parents of Children Studying Abroad: For families with children studying abroad, this account provides parents with an easy-to-manage fund support tool. Parents can conveniently remit tuition fees, living expenses, etc. to their children through this account, and at the same time, they can monitor the account fund dynamics in real time to ensure the earmarking of funds and provide a solid economic backing for their children's overseas study life.
  • Foreign Nationals: It provides bank account services suitable for the identity of foreign nationals working or living in Malaysia. Foreign nationals can manage their fund income and expenditure in Malaysia through the overseas current account, including salary payment, daily consumption, remittance back to their home countries, etc., enabling them to more conveniently integrate into the local financial system and meet their living and working needs in Malaysia.
  • People Engaged in Business Overseas: For business owners or investors expanding their businesses overseas, the overseas current account provides them with a specialized fund management platform. This account supports various foreign currency transactions and fund conversions, helping business owners flexibly meet the needs of fund receipt and payment, cost settlement, profit remittance, etc. in overseas business activities, reducing the financial risks and costs of transnational operations, and facilitating the smooth development of overseas businesses.
• Interest Rate and Account Opening Amount:
  • Interest Rate: The foreign exchange current accounts of various currencies involved in this account currently have an annual interest rate of 0.00%. This means that in the current interest rate environment, the funds in the customers' overseas current accounts will not generate interest income, and customers need to mainly pay attention to other aspects such as the fund flow and exchange rate changes of the accounts for potential income or costs.
  • Account Opening Amount: The minimum account opening amounts for different currencies are different. For example, for Australian Dollar (AUD), Canadian Dollar (CAD), New Zealand Dollar (NZD), Singapore Dollar (SGD), and US Dollar (USD), the minimum account opening amount is 1,000 US dollars ($1,000); for Chinese Yuan (CNH), it is 10,000 yuan (CN￥10,000); for Euro (EUR), it is 1,000 euros (€1,000); for British Pound (GBP), it is 1,000 pounds (£1,000); for Hong Kong Dollar (HKD), it is 10,000 Hong Kong dollars ($10,000); for Japanese Yen (JPY), it is 100,000 Japanese yen (JP￥100,000). These account opening amount requirements ensure that customers have a certain initial capital basis when opening an account, so that they can smoothly carry out subsequent overseas fund transactions and management activities, and at the same time reflect the differences in the status and usage scenarios of different currencies in the international financial market.
• Fees and Protection:
  • Fee Explanation: Customers can obtain a complete list of fees and charges by clicking on a specific link on the website to understand various possible fees in the process of using the overseas current account, such as account maintenance fees, cross-border remittance fees, and currency conversion fees. The charging standards for these fees may vary depending on factors such as transaction type, transaction amount, and transaction region. Customers should fully understand the relevant fee situations before conducting overseas fund operations, and reasonably plan the use of funds to reduce the overall financial costs.
  • Fund Protection: Similar to other account products of the bank, the overseas current account is also protected by the Malaysia Deposit Insurance Corporation (PIDM), and each depositor can obtain a protection limit of up to RM250,000. This protection mechanism provides an important safety net for customers' overseas funds, effectively reducing the potential risks faced by customers in the process of overseas fund management, and enhancing customers' trust and confidence in the bank's services.

III. Account Opening Guide: Conveniently Start Your Financial Journey

Hong Leong Bank provides a convenient online account opening service. Through the Apply@HLB application, customers can easily open a bank account. The following is a detailed account opening guide:

(I) Account Opening Eligibility

• Age Requirement: The applicant must be 18 years old or above and have full civil capacity to independently bear the corresponding legal responsibilities and financial obligations.
• Identity Requirement: The applicant must be a Malaysian citizen and currently have a valid bank account in another bank. This requirement ensures that the customer has basic financial knowledge and credit records, and at the same time provides a certain financial basis and source of funds for the new account opening.

(II) Account Opening Process

• Enter Basic Information: In the Apply@HLB application, the applicant needs to accurately enter the personal identity card number and mobile phone number so that the bank can conduct preliminary identity verification and establish a basic customer information file.
• Scan Documents: Use the mobile phone camera to scan the personal identity card (MyKad) and take a selfie at the same time to ensure the authenticity and validity of the identity document and the consistency between the applicant and the document. This link effectively prevents identity fraud and identity theft through advanced identity recognition technology, protecting the financial security of both the bank and the customer.
• Fill in Information: Fill in personal information in detail, including ethnicity, marital status, email address, etc., as well as employment information and other additional information. These information will help the bank have a comprehensive understanding of the customer's personal background, financial situation, and financial needs, and provide customers with more accurate and personalized financial services and product recommendations.
• Create an HLB Connect Account: Set a username and password consisting of 8 - 16 characters. The username and password must contain letters (both uppercase and lowercase) and numbers to ensure the security and confidentiality of the account. The HLB Connect account is an important platform for customers to manage bank accounts, conduct online transactions, and obtain bank services in the future. Customers should keep the account information and password properly and avoid disclosing them to others.

(III) Selection of Account Types

Customers can choose one of the following two account types according to their own needs for account opening:

• Pay&Save Account: It has a multi-currency function and supports the deposit and payment of 12 foreign currencies. This account can not only meet the daily savings needs of customers, but also provide convenient currency conversion and management services for customers who often have foreign currency transactions or overseas fund transfer needs. For example, customers who often travel abroad, study abroad, go on business trips or have overseas investments can easily carry out the deposit, withdrawal, exchange and payment of foreign currencies through the Pay&Save account, and at the same time enjoy possible interest income and exchange rate preferences, achieving the efficient use and value-added of funds.
• Basic Savings Account: It provides a simple, convenient and low-cost savings solution. This account is suitable for the general public as a basic account for daily savings, meeting the daily fund storage and small-value payment needs of customers. The basic savings account usually has a low account opening threshold and account maintenance cost, and at the same time maintains a certain amount of interest income, helping customers gradually accumulate wealth and develop good savings habits.

(IV) Time Nodes

• Application Processing Time: The bank will complete the review and processing of the account opening application within 3 working days. During this period, the bank will carefully review the application materials submitted by the customer, including identity verification, background investigation, risk assessment and other links, to ensure the legality and security of the newly opened account. Customers can inquire about the application progress and review results at any time through the Apply@HLB application or the bank's customer service channel.
• Time to Deposit the First Instalment after Approval: Once the account opening application is approved, the customer needs to deposit the first instalment into the newly opened account within 7 days. This step marks the official activation of the account, and the customer can carry out the first deposit operation through a variety of channels, such as online banking transfer, ATM deposit or going to the bank branch counter. Completing the first deposit in a timely manner helps the customer start using various services and functions of the bank account as soon as possible and enjoy convenient financial services.
• Debit Card Mailing Time: Within 14 days after the customer successfully deposits the first instalment, the bank will mail the debit card to the customer. The debit card is an important tool for customers to carry out daily consumption, withdrawal, transfer and other transactions. After receiving the debit card, the customer should activate the card and set the password according to the instructions attached with the card to ensure that the card can be used normally. During the period before the debit card is received, the customer can use the Connect ATM Withdrawal function of the HLB Connect application to withdraw cash through the ATMs of Hong Leong Bank to meet the daily fund use needs.
• HLB Connect Activation Time: Within 1 day after the customer successfully deposits the first instalment, the HLB Connect account will be officially activated, and the customer can immediately start using this platform to carry out a variety of operations such as account management, online transactions, and fund inquiries. The rapid activation of HLB Connect provides customers with timely financial service support, enabling customers to quickly grasp the account dynamics and manage personal funds efficiently.

(V) Frequently Asked Questions

• Document Requirements for Account Opening: Only MyKad (identity card) is required during the account opening process, and the bank does not accept other types of documents such as MyKid, MyPR, etc. as proof of identity for account opening. This ensures that the account opening applicant has Malaysian citizenship and a legal adult identity, and meets the bank's account opening policy and regulatory requirements.
• Account Opening Time Limit: Although customers can exit the account opening process halfway, they must complete the entire online account opening procedures within 14 days from the date of the first application, including submitting the application, passing the review, depositing the first instalment, and activating the relevant account and card. This regulation aims to ensure the timeliness and effectiveness of the account opening process, avoid the occupation and waste of bank resources caused by customers not completing the account opening for a long time, and at the same time ensure the security of the customer's account, preventing the uncompleted account opening application from being maliciously used or the personal information from being leaked.

The featured services provided by Hong Leong Bank cover multiple aspects such as safe deposit box rental, fund management of current accounts and overseas current accounts and the convenient online account opening process, fully meeting the financial needs of customers in different scenarios. Whether it is an individual who needs to safely store valuables, or an enterprise or individual with daily fund transaction and overseas fund management needs, or a new customer who hopes to open a bank account quickly and conveniently, they can find suitable service solutions in Hong Leong Bank. Choose Hong Leong Bank, start your all-round financial journey, and enjoy professional, efficient and secure financial services.

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