emlIf I am not mistaken, it used to require walking in offline to get an ASBN account. The good news, now we can register online. Especially for me, who had been postponed the account opening since last year due to the lockdown and cases.
Thankfully, the online registration process is quick and easy.
All you need for the registration are:
- Your identity card (IC)
- You
- A smartphone with front camera
- WiFi or Data
- Supporting Documents like Utilities Bills (Applicable to those address filled in is different with address on identity card)
First, go to Google play store, Apple App Store or anything similar. Download the app “myASBN”.
Open the app. If you see the maintenance notice as above, don’t worry. Just come back next time. I found out the app undergo maintenance quite often.
If you successfully open the app without the maintenance notice, you may proceed with account opening. Fill in everything as required. Then, you may continue with verification procedures. Follow through the process.
After the verification process, they might need minutes to hours to verify your identity. Mine took around one to two hours.
When they have verified your identity, you might receive an SMS message as above.
Now, you will continue with the bank account verification. Follow as per the flow and continue with FPX.
From my personal experience, the bank account verification took longer than the identity verification. It took around 4 working days. Although the apps stated to wait for SMS, I recommend logging in every day. As in my case, I logged in daily to check and on the fourth day, the bank account is verified, but I did not receive any SMS so far.
After the bank details are verified, there will be some questions for you to answer to determine your risk appetite level.
Then, you may proceed with your first investment. The app shows that the first investment amount is fixed at RM10. You may choose any fund that you prefer.
Voila, that’s the quick guide for registering an ASNB account online. Happy Investing.
As always, for financial advice please always refer to a professional or licensed financial planner.
Feature image by Devin Pickell on Unsplash
