What Are Essential Financial Services?: No. Question Answer

FAQs on Access to Essential Financial Services during Movement Control Order (MCO)
No. Question Answer

1. What are essential financial The types of financial services considered as essential
services? during this containment period are as follows:
• Self-service terminals e.g. ATMs, Cash, Cheque and
Coin Deposit Machines will be fully operational in
accessible locations i.e. for premises and locations
not affected by MCO. However, daily operating
hours for all Self-Service Terminals including ATMs
will be restricted from 7.00 a.m. to 10.00 p.m.
during this containment period.
• Online banking i.e. electronic banking, mobile
banking; payment card services; and cheque
processing services are fully operational
• Money changing and remittance services are still
available at bank branches
• Processing and handling of insurance and takaful
claims, issuance of guarantee letters and annual
renewal of insurance and takaful policies.
E-payment providers are considered an essential service

as they fall under the category of E-commerce, which
has been approved by the National Security Council as
an essential service under the MCO.
While all providers of these essential services are

allowed to provide limited counter services throughout
this period, we strongly encourage you to use electronic
channels and avoid unnecessary trips to the branches
and premises of these providers for your own safety and
health.
2. Will all financial service providers No, it is not business as usual in view of the need to
be closed? Or is it business as ensure social distancing measures are observed during
usual? this MCO period for the safety and health of the
customers and employees of financial service providers
alike.
The providers of essential financial services that have

been approved to operate during this period are banks,
development financial institutions, insurance and
takaful companies. But, you should expect some
disruption or delays in normal branch operations in line
with the need to ensure effective crowd containment.
Some branches may be closed and branches that are
open will have limited counter services or reduced
operating hours.
However, all your usual banking transactions can still be

conducted through online or mobile banking. If you do
not have an online account, you can still withdraw and
deposit cash, and make fund transfers and bill payments
1
No. Question Answer
at self-service terminals i.e. ATMs and cash deposit
machines.
If you do need to make a trip to the bank or insurance
company, please do check their websites first to
confirm which branches are open, or call their
customer service hotlines.
3. Will I be able to access my bank Yes, you can continue to access your bank account as
account? usual through mobile or online banking and self-service
terminals.
Counter services are available but on a very limited

basis. For those who require counter services, please
check the websites or call the customer service hotline
of your bank to find out which branches are open and
what services are available.
4. Will the ATMs run out of cash? Bank Negara Malaysia and all banks have established
Any changes to ATM operations? the necessary infrastructure to ensure that ATMs
nationwide will continue to be stocked with sufficient
cash to meet the needs of all households and businesses
during this MCO period.
Please note, daily operating hours for ATMs will be

restricted from 7.00 a.m. to 10.00 p.m. for the duration
of the MCO.
5. Will I still be able to use my e- Yes, all e-payment providers are still operating during
wallets and e-accounts? this containment period and there will be no disruption
6. I am a merchant. Will e-payment to e-payment transactions or acceptance services
acceptance services e.g. POS during this period of containment.
terminals, QR code payments, e-
commerce payments) continue to Also, refer to response to Question 1 above.
be operational?
7. I need to remit some money to my Please check on the websites or call the customer
child who is studying abroad, but hotlines of banks to check which branches are offering
all money changers and money changing and remittance services during the
remittance service providers are MCO period.
closed. What do I do?
While non-bank money changers and remittance service
providers are not allowed to operate or offer counter
services at this time, some are offering online services
which are fully operational during this period. Please
refer to the Bank’s website
http://www.bnm.gov.my/msb, MSB Advisor app or
websites of these providers for more information.
8. My bank branch is closed, what do Please check on your bank’s website or call its customer
I do? hotline to find out which branches are open during this
period.
Also, refer to responses to questions 2 and 3 above.

9. I am facing serious financial All banks and development financial institutions stand
difficulties and worry that I may ready to provide restructuring and rescheduling
2
No. Question Answer
not be able to meet my monthly facilities to borrowers who are facing financial distress
credit card and loan instalments. arising from COVID-19.
What do I do?
Contact your bank officer via the phone or email to
discuss how they can help you restructure or reschedule
your loan to get you through this difficult period.
10. I have medical insurance and need See the responses to Questions 1 and 2 above.
urgent medical treatment. How
do I get a guarantee letter issued?
Are insurance and takaful
operators (ITOs) open during the
MCO period?
11. I was involved in a car accident. See the responses to Questions 1 and 2 above.
Are workshops still open? Whom
do I notify to make a claim on my In addition, the National Security Council has approved
motor policy? towing services and repair workshops to operate as
allowable non-essential services during this MCO
period.
12. I work with a bank / insurance In line with the regulations and advisories issued by the
company. Do I still need to come Federal Government, only staff involved in providing
to work during this MCO period? essential financial services or critical operations
necessary to support the provision of essential financial
services are required to come to work, especially if your
employer does not have remote access work
capabilities.
All staff involved in non-critical functions should work

from home. Staff involved in critical functions, but
whose providers do have remote access work
capabilities are also encouraged to work from home.
13. Is Bank Negara Malaysia operating Yes we are, but in line with the requirements of the
during the MCO period? How do I MCO, all front-line services including BNMLINK for walk-
get in touch with their officers? in visitors have been suspended from 18 March until 31
March.
In line with BNM’s Business Continuity Plan, all critical

departments have implemented split operations, while
non-critical departments are working from home to
ensure no disruptions to BNM’s core functions
throughout this period of containment.
Members of the public can contact BNM through these

following channels or refer to BNM’s website at
www.bnm.gov.my for further updates:
• eLINK (https://telelink.bnm.gov.my); or
• BNMTELELINK (Tel: 1-300-88-5465) from
Monday to Friday (9.00 a.m. to 5.00 p.m.)
Bank Negara Malaysia

21 March 2020

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FAQs on Access to Essential Financial Services during Movement Control Order (MCO)

No. Question Answer

E-payment providers are considered an essential service

While all providers of these essential services are

The providers of essential financial services that have

However, all your usual banking transactions can still be

Counter services are available but on a very limited

Please note, daily operating hours for ATMs will be

Also, refer to responses to questions 2 and 3 above.

All staff involved in non-critical functions should work

In line with BNM’s Business Continuity Plan, all critical

Members of the public can contact BNM through these

Bank Negara Malaysia

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