Maybank business bank accounts for june 2023

The Maybank business checking account gives companies and SMEs access to the money they need. The checkbook and record book are the access points for the checking account. Additionally, it earns interest at 0.25% to maximize the value of your funds.

• Payment solutions. Maybank can handle the check writing and releasing procedures for you. In this case, you can instruct the bank to send payments using managers or corporate checks. Check cutting also reduces expenses by reducing the need to buy checks and vouchers. Additionally, automating your manual operations boosts productivity, aids in maintaining security, control, and secrecy.
• Cash management. You can utilize the Windows-based front-end software to pay your employees' salaries into their Maybank ATM accounts.
• Collection services. Maybank also provides your business with the check and cash collection services. Using these collection services, you can deposit cash or checks without leaving your premises.

How to apply for a Maybank business bank account?

Once you have gathered all your supporting documents and are ready to apply, visit the nearest Maybank branch. There, you can chat with an agent about opening an account. Then, fill out any appropriate forms, provide them with copies of your documentation and an existing bank statement if you already have one. If not, they will create an account for you right away.

Requirements for a Maybank business bank account

The following are some conditions for creating a business account with Maybank.

General requirements

• Properly executed Memorandum of Agreement.
• Articles of Partnership or Cooperation and by-laws.
• Notarized resolution or agreement naming Maybank as your depository bank. It also names the authorized signatories or Treasurer-In-Trust and partnership to open an account.

For businesses

You need a DTI Certificate of Registration of Business or Trade Name for sole proprietorships. For current and foreign currency accounts, it is necessary to submit documentation of your most recent billing address, such as a utility bill or a credit card statement from a company.

For partnership

• Securities & Exchange Commission (SEC) registration confirmation.
• List of partners, together with beneficial owners, if any.
• Submit the Mayor's business permit for the current year.

For corporation

• Secretary's Certificate of Incumbent Officers.
• List of directors, significant investors who each own at least 2% of the company's capital stock, and beneficial owners, if any.
• Mayor's current-year business license

For cooperative

• Cooperative Development Authority-issued Registration Certificate.
• Secretary's Certificate of the lawfully elected committee members or governing body members of the cooperative.

Valid IDs

• Passport
• Driver's license
• Professional Regulation Commission (PRC) ID
• National Bureau of Investigation (NBI) Clearance
• Police Clearance
• Postal ID
• Barangay Certification
• Senior Citizen Card
• Overseas Workers Welfare Administration (OWWA) ID
• OFW ID
• Seaman's Book
• Voter's ID
• Alien Certificate of Registration (ACR)
• Immigrant Certificate of Registration
• Government Office and Government-Owned and Controlled Corporations (GOCC) ID like AFP or HDMF IDs.

Pros and cons of a Maybank business bank account

Check out the pros and cons of a Maybank business account below:

Pros

• You can also use their other services, such as online and mobile banking, to make transactions quickly and easily.
• You can pay bills and other expenses automatically online.

Cons

• Your enterprise can only withdraw ₱50,000 from an ATM daily or ₱20,000 in a single transaction.
• Your business can only transfer ₱30,000 per day to other Maybank PH accounts by ATM. In contrast, transfers to other Maybank PH accounts via M2U are limited to ₱100,000 per day.