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Wholesale Customer Acceptance Policy

Customer Acceptance Policy for Money Changer Trading Account Opening

We are pleased to provide the following list to help you understand our customer acceptance procedures for account opening. Our customer acceptance procedures are required to meet Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) - Money Services Business (Sector 3) to comply with the Anti-Money Laundering and Anti-Terrorism Financing Act 2001. This list ensures that we meet those standards, and helps us process your account opening application quickly and with the minimum effort.

As a licensed Wholesale Currency Dealer, our customers in Malaysia are limited to Money Services Business Licensees and Authorised Dealers (commercial banks). To sell or buy foreign currency with us you must first open a money changer trading account.

You will be asked to complete all the required fields in our ‘Money Changer Trading Account Application Form’ and provide the following documentation / information:

  • Certified Copies of Form 24
  • Certified Copies of Form 49
  • Certified Copy of Money Changing / MSB Licence
  • Certified Copies of IC/Passport of all individual in this form
  • Business / Name Card(s)
  • Certified Copy of Memorandum/Article/Certificate of Incorporation/Partnership

The above list may not be comprehensive, so there may be circumstances in which we ask you for documents or information not contained in the list. If you have any questions about the list, or about our customer acceptance procedures, please call our Account Manager or visit any of our branches for enquiries.

All customers should note that from time-to-time, throughout the life of the account, Metro Exchange will request further information from you in order that our records are up-to-date and relevant. You are also required to keep us updated as and when there are any changes to the information originally declared in the form. We may also need to ask questions in respect of specific transactions should there be any unusual activity in your account. Among other things this is to protect you from fraud.

Our Accounts Department will process your application and create your account in our trading systems. We will then notify you when you can begin trading with us.