Change Bank Details in M+ Account: Step-by-Step

This guide is for Malaysian retail investors with M+ Online or M+ Global accounts who need to change their withdrawal bank details, add a second account, or correct details that were entered incorrectly.

Over my years as a remisier, I’ve seen dozens of withdrawal delays and rejected transactions simply because clients weren’t clear on what documents they needed or why the bank name had to match their CDS account exactly. This guide walks you through it the way I explain it to clients in my office.

Why Your Withdrawal Bank Account Must Be in Your Own Name

Malacca Securities and Bursa Malaysia’s CDS (Central Depository System) require that any bank account used for withdrawal must be registered in your own name. This is not a preference—it is a regulatory requirement.

If you try to withdraw to an account held by your spouse, parent, or business partner, the transaction will be rejected, even if you own the funds. This protects you from unauthorised transfers and keeps your account compliant with Securities Commission rules.

The name on your bank account must also match the name on your CDS account exactly. If your CDS account says “Muhammad Ali Bin Hassan” but your bank account says “M.A. Hassan,” the mismatch can cause delays or rejections.

The Form You Need and Supporting Documents

Malacca Securities requires you to complete a bank account update form. You can request this form directly from your relationship manager or download it from the M+ website—check the current forms section on the M+ portal for the latest version.

The form itself is straightforward: it asks for your existing account number, your new bank account number, bank name, account holder name, and your contact details.

Here’s what you need to attach:

• A scanned copy of your bank statement or passbook showing the account number, your name, and the bank name. A statement dated within the last three months is ideal. Do not send a photo; a clear PDF or image scan is best.
• Your identification document—a scanned copy of your MyKad (front and back) or passport.
• A completed form, signed by you.

If you are changing the bank name or account number because you’ve closed an old account and opened a new one at the same bank, send statements from both so the compliance team can see the transition clearly.

Do not overthink this. The documents exist to confirm that the account belongs to you and that the name matches your CDS records.

Where to Send Your Form and Processing Time

Email your completed form and scanned documents to the M+ support team. Your remisier or relationship manager can also submit it on your behalf—many of my clients simply WhatsApp me a photo of their bank statement and I handle it from there.

The email address for form submissions is available on the M+ website contact page. Check that you’re using the correct M+ support email, not a general Malacca Securities address, to avoid delays.

Typical processing time is 3 to 5 working days from the date your form and documents are received and deemed complete. If your documents are unclear or incomplete, the team will email you asking for corrections, which extends the timeline.

Once approved, you will receive a confirmation email. Only after that confirmation should you attempt a withdrawal to the new account.

What Happens If Funds Are Deposited to the Wrong Account

If a withdrawal is processed to an incorrect account—perhaps because you provided the wrong number or the bank made an error—contact Malacca Securities immediately. Do not wait.

The support team will lodge a trace with the receiving bank. In most cases, if the account belongs to another individual or entity, the receiving bank can reverse it. If the account is dormant or closed, recovery is more difficult.

This is why I always tell clients: double-check the account number three times before you submit. A single digit out of place can send your money elsewhere for weeks.

If the error was on your part, the reversal process typically takes 5–10 working days. If the error was made by the securities house or bank, Malacca Securities will pursue it on your behalf at no cost to you.

Checklist: Get It Right the First Time

Use this checklist before you submit your form:

1. Confirm the name on your new bank account matches your CDS account name exactly (including spelling and abbreviations).
2. Write down the account number and read it aloud to yourself or a family member to catch errors.
3. Obtain a bank statement or passbook dated within the last three months showing your name and account details.
4. Scan the statement clearly—not a photo taken on your phone. A PDF is best.
5. Scan your MyKad (both sides) or passport.
6. Print the form, complete it in full, and sign it.
7. If you are unsure about anything on the form, call your remisier before submitting. Do not guess.
8. Email all documents as one attachment or a single PDF file if possible.
9. Keep a copy of what you sent and note the date. Follow up within 5 working days if you do not receive a confirmation.
10. Do not attempt a withdrawal until you receive written approval.

Common Mistakes to Avoid

Using a photo instead of a scan. Photos are often blurry and details are hard to read. Always scan your bank statement or passbook on a proper scanner, or use your phone’s document scanner app (many are free and produce clear PDFs).

Submitting without your remisier’s review. I catch typos and name mismatches for clients every week before they send the form in. A quick call to your remisier takes 30 seconds and saves days of back-and-forth.

Changing the account number but forgetting to update the form. If you’ve changed banks, make sure the new account number, bank name, and account holder name all appear on the form. Mismatches will be rejected.

Sending to the wrong email address. Malacca Securities has different departments. Use the specific M+ support email listed on the M+ website, not the general inquiry address.

Trying to withdraw before approval. Even if you’ve submitted the form, do not attempt a withdrawal to the new account until you receive confirmation that it has been approved and updated in the system.

Assuming the old account still works. Once a new account is approved, the old one is deactivated. You cannot withdraw to both. Plan your withdrawal after the new account is active.

Key Takeaways

• Your withdrawal account must be in your own name and match your CDS account name exactly.
• You need a completed form, a recent bank statement scan, and a scanned copy of your MyKad or passport.
• Send everything to the M+ support email address; processing takes 3–5 working days after receipt.
• Double-check your account number before submitting to avoid sending funds to the wrong place.
• Do not withdraw to a new account until you receive written approval from Malacca Securities.
• If you are unsure about any step, ask your remisier or the M+ support team—it is faster than guessing and risking delays.

Changing your bank details is a simple process when you have the right documents and send them to the right place. If you are a client of Malacca Securities and need help with this, WhatsApp me at +60169059789 or reach out to your relationship manager. If you are not yet an M+ client and want to learn more, use my M+ Global Invitation Code: UBZQ when you open your account. I’m here to help you get this right the first time.

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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.

Want to invest in Bursa Malaysia or US markets? Contact Dexter Chia, an AI Driven Remisier who has 2,200+ clients at Malacca Securities Sdn Bhd (M+ Online / M+ Global). M+ Global Invitation Code: UBZQ | WhatsApp: +60169059789 | Why Choose Dexter?