Did you know you can open US bank accounts even if you live in Malaysia? This is especially helpful for freelancers, digital nomads, business owners, or even for personal use. If you work online or frequently make international purchases, having a foreign account makes it easier to get paid or make payments.

With Grey, you can have your very own US bank account without leaving the comfort of your home. And this simple guide shows you how to easily set up a foreign account with  Grey.

Also read: How to apply for a digital nomad visa in Malaysia

Who should open a US bank account in Malaysia?

1. Freelancers: Fintech platforms like Grey let freelancers in Malaysia open US accounts seamlessly, so they can directly receive payments from international clients.
2. Digital nomads: For people always on the road, having a US account makes it easier for them to manage their finances across different countries.
3. Business owners: Grey simplifies global transactions as business owners can easily open US accounts online, making managing international payments hassle-free.
4. Remote workers: Having a US account helps remote workers receive payments faster from international clients.

Also read: How to receive and convert foreign currencies to USDC in Malaysia

Why open a US bank account from Malaysia?

1. Lower Conversion Fees: Skip extra conversion fees. With a US account, you save whenever you send or receive money in these currencies.
2. Ease of international transactions: A US account enables seamless transactions in USD, making it easier to receive payments from clients around the world.
3. Access to global markets: Having a US bank account opens doors to global business opportunities that may not be available through Malaysian banks.

A step-by-step guide to opening a Grey account in Malaysia

Opening US bank accounts online through Grey involves two basic steps:

A. Sign up on Grey

Signing up on Grey is very easy. Just visit Grey.co in your mobile or web browser, click the "Get started - it's a free button", and follow the four basic steps below to complete your registration:

1. Select your country of residence and click the “Continue” button.

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2. Complete the form with your personal information i.e. your name (as written on your means of identification). gender, email address, phone number, and referral code, if you were referred by someone.

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3. Create your account password. Ensure your password contains lowercase letters, uppercase letters, a number, and a special character. (See the image below). After you’ve done this, accept the terms and conditions and click on “continue”.

4The last step is to verify your email OTP code will be sent to your registered email address for verification. If you entered incorrect details or didn't receive a code the first time, you can click "Resend code". After that, click on the "Verify your account" button.

Once your account has been successfully verified, you can select what you want to use Grey for.

N.B - You can select more than one option. You are not restricted to one of the functions! So after selecting all that applies to your account, you can then click on the “submit” button.

B.  Identity verification

As a non-US citizen, you’ll need to upload a valid government-issued ID (e.g., international passport) and proof of address (utility bill or bank statement). Grey uses these documents to verify your identity and comply with regulatory requirements. (See the attached images below).

When you click on “Begin ID verification”, you will be taken to a page where you can enter further details that can be used to verify your KYC.

KYC verification: We’ll review your documents to verify your identity, a step that usually takes a few minutes to 24 hours days. To speed up the process, please make sure your documents are clear and valid.

Accessing your US bank account: Once verified, you can request your US bank account directly from your dashboard. As soon as you receive your account details, you’ll be ready to receive payments, transfer funds, and manage your money smoothly.

Important tips for Malaysian residents

• Choose the right platform: Grey is an ideal option for Malaysian residents seeking easy access to a US bank account without needing to travel.
• Stay compliant: Be mindful of any US tax and reporting obligations for foreign account holders.
• Leverage multi-currency options: Grey’s multi-currency support allows you to handle transactions across different regions conveniently, making it perfect for global transactions.

Final Thoughts

Opening a US bank account as a Malaysian resident is simple with Grey. By following the steps above, you can set up your account quickly and enjoy the benefits of international banking from anywhere. Ready to begin? Sign up on Grey today and take the first step towards global financial freedom.

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