GX Bank (officially GXBank) is Malaysia's first operational digital bank, fully licensed by Bank Negara Malaysia (BNM). It launched in October 2023 — the first of the five BNM digital bank licensees to go live. GXBank is backed by GXS, a joint venture between Grab and a consortium that includes Kuok Brothers. The entire banking experience runs through a single app. No branches, no queues, no paper forms.
If you want to know whether GXBank is the right savings account for your money, read our full GXBank savings account review. This guide is purely about the account opening process — what you need, what to expect, and how to get through it without issues.
Eligibility Requirements
Before you download anything, confirm you meet the requirements:
- Malaysian citizen or permanent resident — foreign nationals are not currently eligible
- 18 years old or above — no minor accounts available
- Valid MyKad — your physical identity card must be in reasonable condition (not cracked, faded, or laminated over the chip)
- Smartphone — iPhone (iOS) or Android. The GX Bank app is not available on tablets or desktop
That is the full list. No minimum deposit. No salary crediting requirement. No existing Grab account needed — though having one makes the Grab ecosystem integration smoother.
Step-by-Step: Opening Your GX Bank Account
The entire process takes 5–10 minutes if your documents and lighting are in order.
Step 1 — Download the GX Bank App
Search for "GX Bank" on the Apple App Store or Google Play Store. The official app is published by GXS Bank Pte Ltd. Avoid any third-party apps with similar names.
Step 2 — Register with Your Phone Number
Open the app and enter your Malaysian mobile number. GXBank sends a one-time password (OTP) via SMS. Enter the OTP to verify your number.
Step 3 — Complete eKYC Verification
This is the most important step — and the one most likely to cause delays if done carelessly.
You will be asked to:
- Scan the front of your MyKad — hold it flat, ensure all four corners are visible, avoid glare and shadows
- Scan the back of your MyKad — same rules apply
- Take a selfie / liveness check — the app uses facial recognition to match your face against your MyKad photo. Remove glasses, hats, or face coverings. Use a well-lit room with a plain background
The eKYC system is automated. It cross-references your MyKad details against the National Registration Department (JPN) database.
Step 4 — Set Up Security
Choose a 6-digit transaction PIN. You can also enable biometric login (fingerprint or Face ID) for faster access.
Step 5 — Account Activation
If eKYC passes, your account is typically activated within minutes. You will receive an in-app notification confirming your account is ready. In some cases — particularly during high demand or phased rollouts — there may be a short waitlist period.
What You Get After Opening
Once your account is active, you have immediate access to:
- Savings Account-i — a Shariah-compliant savings account (this is GXBank's default product). Check the GX Bank app for current profit rates, as these change periodically
- Virtual Debit Card — issued instantly in-app. You can add it to Apple Pay, Google Pay, or Samsung Pay for contactless payments at any terminal that accepts Mastercard
- DuitNow — send and receive money via phone number, NRIC, or DuitNow QR
- In-app features — spending insights, round-ups (automatically round purchases to the nearest ringgit and save the difference), auto-save rules, and transaction categorisation
- Grab integration — link your GXBank account to GrabPay for rides, food, and merchant payments
There are no monthly fees, no minimum balance requirements, and no charges for DuitNow transfers.
PIDM Protection
Your GXBank deposits are protected by Perbadanan Insurans Deposit Malaysia (PIDM) up to RM250,000 per depositor per bank. This is the same deposit insurance that covers Maybank, CIMB, and every other licensed bank in Malaysia. GXBank is not an e-wallet — your money is a genuine bank deposit with full regulatory protection.
Common Issues and How to Fix Them
eKYC Rejection
This is the most common problem. The automated system rejects submissions for:
- Poor lighting — use natural daylight or bright overhead lighting. Avoid backlit situations
- MyKad condition — if your card is scratched, faded, or has a damaged chip area, the scanner may fail to read it. A severely worn MyKad may need replacement at JPN before you can proceed
- Face mismatch — if your appearance has changed significantly since your MyKad photo was taken (weight change, ageing, facial hair), the liveness check may struggle. Remove glasses and ensure your face is clearly visible
- Blurry images — hold your phone steady. Clean your camera lens
You can retry eKYC multiple times. If it continues to fail, contact GXBank support through the app.
Waitlist or Delayed Activation
GXBank has used phased rollouts at various points since launch. If you are placed on a waitlist, there is no way to skip the queue. The wait is typically a few days to a couple of weeks.
Transfer Limits for New Accounts
New accounts may have lower daily transfer limits initially. These limits typically increase after your account has been active for a period and you have completed additional verification. Check your limits in the app under account settings.
Tips for a Smooth Account Opening
- Do it during the day in a well-lit room — eKYC cameras perform significantly better with good lighting
- Clean your MyKad — wipe off fingerprints and dust before scanning
- Use a stable surface — lay your MyKad flat on a dark, non-reflective surface rather than holding it in your hand
- Ensure your phone OS is updated — older OS versions can cause app compatibility issues
- Have your MyKad ready before starting — the app may time out if you take too long between steps
Next Steps
Once your account is open, consider exploring our other tools and guides:
- GXBank Savings Account Review — a detailed look at whether GXBank is the right place for your savings
- Digital Banks Malaysia 2026 — how GXBank compares against Boost Bank, AEON Bank, and the other licensees
- How to Save Money in Malaysia — practical saving strategies beyond just picking the right bank
- Best Fixed Deposit Rates Malaysia — if you want to lock in a guaranteed rate instead
Every guide on money.com.my is fact-checked against primary sources (Bank Negara Malaysia, Department of Statistics Malaysia, KWSP/EPF, LHDN) before publication. If you find an error, email corrections@money.com.my — corrections are published with a dated amendment note.
money.com.my may earn a commission if you open an account through our links. This does not affect our editorial assessment — we review products based on their merit, not their affiliate terms.