AEON Bank Is Now Live And Open For Registration

AEON Bank, Malaysia’s first Islamic digital bank, has finally gone live. Customers can now download the app, register their accounts, and make use of the myriad of tools and services that the app has to offer.

As part of its introductory offer, AEON Bank will be running several campaigns and promotions to introduce new users to the platform. These include 3,000 AEON Points upon signing up and 3X Aeon Points when you spend using the AEON Bank Debit Card-i. Apart from that, AEON Bank account holders can also enjoy up to a 3.88% p.a. profit rate during the promo period.

How to apply for an AEON Bank account?

Since AEON Bank is a fully digital bank, there are no physical branches for you to visit. All interactions are made via the AEON Bank app, which can be downloaded from the Apple AppStore and Google Play Store.

During sign-up, you’ll need to perform verifications for both your email as well as your mobile number. For now, AEON Bank accounts are only open to Malaysian citizens aged 18 years old and above.

To sign up, you will need to perform an e-KYC (electronic know your customer) verification which requires you to snap both sides of your MyKad (NRIC) and take a selfie. One interesting option that new users have is the ability to choose their own preferred number for their AEON Bank Savings Account-i. However, the preferred last four digits preference is assigned on a first-come, first-serve basis and is subject to availability.

As part of the verification process, you must have an existing Malaysian bank account registered under your name. To activate the account, you will need to perform a bank transfer from your existing bank account to AEON Bank with a minimum transfer value of RM20.

How to get an AEON Bank Debit Card-i

After successfully opening a savings account with AEON Bank, you can apply to get the Aeon Bank Debit Card-i (Visa). For the moment, the physical debit card is being offered for free as AEON Bank is waiving the issuance fee. However, do note that unlike the savings account, the debit card number will be randomly generated.

As you wait for the physical card to arrive, you will receive a virtual card number which you can use for online or in-app transactions such as online shopping. The physical card will take around 6 to 10 business days for delivery.

With the AEON Bank app, users can manage their card usage, including setting the card PIN and transaction limits for daily purchase, online transaction, overseas, Visa Paywave and ATM withdrawal limits. If the card is lost, transactions can be blocked by locking the card via the app. By default, the card is disabled for online and international transactions, but you can change these settings from the app itself.

For the time being, Aeon Bank Debit Card-i still does not support Apple Pay, Google Wallet or Samsung Pay.