Why is the Initial Deposit via Fund Transfers from Another Bank Under Your Name Essential for Opening Your Banking Account?
As part of KAF Digital Bank (KAF DB) onboarding account opening process, you will need to perform an initial deposit via fund transfer from another bank account under your name. This is an additional security feature for us to take proactive measures to safeguard the integrity of your account by taking additional steps to verify the identity of the account holder.
How to Create and Activate Your KAF DB Account?
1. Launch the KAF DB mobile application on your device.
2.Tap "Activate Account" and carefully review the "Declaration" before proceeding.
3. Enter your username and the activation code sent to your registered email.
4. Set up biometric login using your device’s fingerprint or facial recognition for quick, secure, and seamless access.
5. Confirm your PIN number and click “Continue” to activate your account. You will need to perform a fund transfer from another bank account under your name for this step.
6. Click on “Copy” to copy your new KAF DB account number and perform your first initial deposit via fund transfer from another bank registered under your name.
7. After you have made the initial deposit transfer, click “I Have Made the Initial Deposit”, and once verified, your new KAF DB account will be successfully activated.
8. If you are unable to do so at this stage, you can click "I Do Not Have a Bank Account" and proceed to login to the dashboard and perform the fund transfer from another bank account registered under your name at a later time.
9. If you decide to continue later, just log in to your mobile application, copy your bank account number, and perform the fund transfer from another bank account registered under your name.
10. After you have made the initial deposit transfer from another bank registered under your name, on the dashboard just click “I Have Made Initial Deposit”, and once verified, your banking account will be successfully activated and gain full access.
Compulsory Onboarding requirements: As part of the account opening process, there is a compulsory requirement by Bank Negara Malaysia to transfer a minimum or RM10 from one of your existing bank accounts. At the moment, only the following banks support this transfer. You may refer to the List of Banks That Support Credit Transfer to KAF Digital Bank to learn more.
With KAF DB, we make your banking experience secure and seamless. Experience the freedom of managing your finances on your own terms anytime and everywhere. Start your banking journey with KAF DB today and discover how easy and secure it is by take control of your financial life.
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