In order to open an account you will need to be referred by someone. This can be done by a Malaysian contact or your company can assist with this.

The Malaysian Ringgit is not a freely convertible country and if you take the currency overseas with you it will be difficult to exchange it for foreign currencies. However you can buy foreign currency Travellers Cheques with Ringgit. Sending more than RM10,000 overseas in one transaction or taking a similar amount out of the country in cash requires the national bank's (Bank Negara) approval. This is normally more a requirement than a problem.

Most major banks have auto teller machine systems where deposits, passbook updating can be done besides the usual cash withdrawals. And most ATMs are shut down by midnight for customer safety purposes. Some may extend to 2am, but no more than that.

Cheques are widely accepted although companies will probably need to know you before starting to accept them.

Credit cards and charge cards are widely used in Malaysia, though the former is much preferred due to convenience and wider acceptance. It is possible to apply for a local credit card, billed in Malaysian Ringgit but some issuers are reluctant to give them to expatriates. If you already have a credit card from your home country then it is best to keep it as long as you are in a position to make the payments in the foreign currency. Nearly all major shopping outlets, hotels and high end restaurants accept Visa, Mastercard and American Express.