RHB broker Accounts

rhb Account Types & Opening Guide 2025: Complete Comparison and Registration Steps

rhb Account Types Explained

RHB Bank offers a variety of account types tailored to meet different financial needs. Below is a comprehensive overview of the available account types:

1. RHB Basic Current Account

• Minimum Deposit Requirement: RM500
• Spread/Commission Structure: No commission fees
• Leverage Options: Not applicable
• Key Features:
• Free ATM card
• Online banking access
• Monthly e-statements
• Target User Profile: Suitable for individuals seeking basic banking services.
• Trading Instruments Available: Not applicable.

2. RHB Smart Account

• Minimum Deposit Requirement: RM1,000
• Spread/Commission Structure: No commission fees
• Leverage Options: Not applicable
• Key Features:
• Rewards for transactions
• Up to 6.85% p.a. interest
• Online banking features
• Target User Profile: Ideal for tech-savvy individuals who prefer online banking.
• Trading Instruments Available: Not applicable.

3. RHB Premier Current Account

• Minimum Deposit Requirement: RM1,000
• Spread/Commission Structure: No commission fees
• Leverage Options: Not applicable
• Key Features:
• Preferential rates
• Access to exclusive banking services
• Monthly e-statements
• Target User Profile: Designed for affluent individuals seeking premium banking services.
• Trading Instruments Available: Not applicable.

4. RHB Multi Currency Account

• Minimum Deposit Requirement: Not specified
• Spread/Commission Structure: Depends on currency conversion rates
• Leverage Options: Not applicable
• Key Features:
• Hold up to 33 foreign currencies
• Instant currency conversion
• Attractive interest rates on deposits
• Target User Profile: Suitable for frequent travelers and expatriates.
• Trading Instruments Available: Foreign currencies.

5. RHB Islamic Accounts

• Minimum Deposit Requirement: RM1,000
• Spread/Commission Structure: No commission fees
• Leverage Options: Not applicable
• Key Features:
• Shariah-compliant banking
• No interest charges
• Monthly e-statements
• Target User Profile: Individuals seeking Islamic banking options.
• Trading Instruments Available: Not applicable.

Account Type Comparison Table

Recommended Account Types by Trader Level

• Beginner: RHB Basic Current Account
• Intermediate: RHB Smart Account
• Advanced: RHB Premier Current Account
• Specialized Needs: RHB Multi Currency Account or Islamic Accounts

Detailed rhb Account Features

Account Features Comparison

Advantages of Each Account Type

• Basic Current Account:
• Low minimum deposit
• Basic banking features
• Free ATM card
• Smart Account:
• High-interest rates
• Transaction rewards
• Comprehensive online banking
• Premier Current Account:
• Exclusive banking services
• Preferential rates
• Personalized banking experience
• Multi Currency Account:
• Flexibility in managing multiple currencies
• Potential for foreign exchange gains
• Interest on deposits
• Islamic Accounts:
• Shariah-compliant
• No interest charges
• Ethical banking practices

Disadvantages of Each Account Type

• Basic Current Account:
• Limited features compared to premium accounts
• Smart Account:
• Higher minimum deposit
• Premier Current Account:
• Requires a higher minimum deposit
• Multi Currency Account:
• Not suitable for all users
• Islamic Accounts:
• Limited to Shariah-compliant products

rhb Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Open to residents and non-residents, but specific terms may apply.
• Prohibited Countries: Not specified in the available data.
• Identity Verification Documents Needed:
• Original Identification (MyKad, Passport, etc.)
• Proof of residence (utility bill, bank statement)
• Proof of Residence Requirements: Recent utility bill or bank statement showing the applicant's name and address.
• Additional Documentation for Professional Accounts: Business registration documents, partnership agreements, etc.

KYC/AML Compliance Procedures

• RHB adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring verification of identity and source of funds.

Verification Time Frames

• Account verification typically takes 1-3 business days, depending on the completeness of submitted documents.

Step-by-Step rhb Account Opening Guide

Detailed Step-by-Step Registration Process

1. Visit Website: Go to the RHB Bank website.
2. Click Registration: Select the account type you wish to open.
3. Personal Information Entry: Fill in personal details including name, address, and contact information.
4. Choose Account Type: Select the desired account type from the options available.
5. Set Trading Preferences: If applicable, set your trading preferences.
6. Document Upload: Upload required documents for identity and address verification.
7. Account Verification: Wait for RHB to verify your documents.
8. Fund Your Account: Once approved, fund your account to start using it.
9. Start Trading: Access your account through RHB Online Banking or the mobile app.

Desktop vs Mobile Registration Differences

• The registration process is similar on both platforms, but the mobile app may offer a more streamlined experience with QR code scanning for document uploads.

Common Registration Issues and Solutions

• Issue: Document upload failure.
• Solution: Ensure documents are in the correct format and within size limits.
• Issue: Verification delays.
• Solution: Contact RHB customer service for assistance.

Average Account Approval Time

• Typically, account approval takes between 1-3 business days.

How to Upgrade/Downgrade Account Types

• Users can request changes to their account type through RHB Online Banking or by visiting a branch.

rhb Demo Account Guide

Demo Account Features and Benefits

• RHB offers demo accounts to practice trading without financial risk.
• Features include access to real-time market data and trading tools.

How to Open a Demo Account

• Visit the RHB website and select the option to open a demo account.
• Fill in the required details and submit the application.

Demo Account Limitations

• Demo accounts typically have a virtual balance and may expire after a set period.

Virtual Balance Amount

• The virtual balance amount is usually predefined (e.g., RM100,000).

Demo vs Live Account Differences

• Demo accounts simulate trading conditions but do not involve real money transactions.

Duration/Expiry of Demo Accounts

• Demo accounts may expire after 30 days of inactivity or at the end of a specified trial period.

rhb Islamic Account Details

Swap-free/Islamic Account Availability

• RHB offers Islamic accounts that comply with Shariah law, allowing users to trade without incurring interest.

Eligibility Requirements

• Applicants must meet standard account opening requirements and indicate their preference for an Islamic account.

Differences from Standard Accounts

• Islamic accounts do not charge or pay interest and may have different fee structures.

How to Apply for Islamic Account

• Apply through the RHB website or at a branch, selecting the Islamic account option during registration.

Restrictions or Special Conditions

• Islamic accounts may have specific trading conditions and instruments available.

FAQs – rhb Account Types & Opening

1. What account types does rhb offer？

• RHB offers Basic Current Account, Smart Account, Premier Current Account, Multi Currency Account, and Islamic Accounts.

1. What is the minimum deposit for each account type？

• Basic Current Account: RM500, Smart Account: RM1,000, Premier Current Account: RM1,000, Multi Currency Account: Not specified, Islamic Accounts: RM1,000.

1. How long does rhb account verification take？

• Account verification typically takes 1-3 business days.

1. Does rhb offer demo accounts？

• Yes, RHB offers demo accounts for practice trading.

1. Can I have multiple account types with rhb？

• Yes, customers can hold multiple account types simultaneously.

1. Does rhb offer Islamic/swap-free accounts？

• Yes, RHB offers Islamic accounts that comply with Shariah law.

1. What documents do I need to open a rhb account？

• Required documents include identification (MyKad or Passport) and proof of residence.

1. Can I change my account type after registration？

• Yes, account types can be upgraded or downgraded upon request.