Ryt Bank opens a new door to digital banking in Malaysia!

Malaysia (Commonwealth Union)_ Ryt Bank has introduced a new way for customers to activate and fund their accounts through ATMs and bank branches, becoming the first digital bank in Malaysia to offer this option. The move gives customers an alternative to online banking for the initial transfer needed to activate a newly opened account. It also shows how digital banks are adapting their services to accommodate people who still prefer traditional banking channels. Customers can continue to open their Ryt Bank accounts through the bank’s mobile app.

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The process includes electronic Know Your Customer, or eKYC, checks, which allow the bank to verify customers’ identities remotely. Once the account has been created and the verification is completed, customers can use an ATM or bank branch to make the required initial transfer. Previously, customers had to transfer money from an account with another bank using online banking to activate their Ryt Bank account. While convenient for regular internet banking users, this could create difficulties for people who rarely use online transfers or prefer to manage their finances through ATMs and physical branches.

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The new option is made possible through Ryt Bank’s participation in Malaysia’s Interbank GIRO, or IBG, network. Customers can now make the required transfer through a participating ATM or bank branch, providing a more familiar alternative to completing the process entirely online. The bank said the new service is the first of its kind among Malaysia’s digital banks. While digital banking is largely built around mobile applications, many customers continue to rely on traditional banking infrastructure. ATMs and branches remain important for people who prefer face-to-face assistance or established methods of making transactions.

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The move could also make the transition to digital banking easier for customers who are not fully comfortable with online financial services. They can complete the account-opening and identity-verification process digitally while using a physical banking channel for the initial funding step. Wilson Soon, Interim CEO of Ryt Bank, said the additional option was introduced to make digital banking more accessible regardless of how customers normally manage their money. He pointed out that ATMs and branches remain widely used by Malaysians.

The change does not replace Ryt Bank’s app-based onboarding process or eKYC requirements. Instead, it adds another route for completing the activation process. Customers can therefore begin their journey digitally and then choose an online transfer, ATM or participating bank branch for the initial funding, depending on their preference and the procedures available at the participating institution. The development highlights a broader shift in financial services, where digital platforms are increasingly being combined with traditional banking networks to give customers more choice and flexibility.