Let me ask you something. What would you do if you opened your digital banking app one morning and found out the bank was shutting down?

Your first concern would probably be the money already sitting there, especially if your salary goes into that account or you keep part of your savings there.

If you also have a loan with the same bank, another question follows almost immediately. Am I already free from the debt?

Before anyone panics, none of Malaysia’s digital banks is currently in that position.

GXBank, Boost Bank, AEON Bank, Ryt Bank and KAF Digital Bank are all operating and listed as PIDM member banks.

Even so, the question is becoming more relevant now that millions of Malaysians have money sitting in these banks.

Bank Negara Malaysia’s 2025 Annual Report showed that the five digital banks collectively served 2.4 million customers by the end of 2025.

Those customers held RM4.2 billion in deposits, while around 65% came from unserved or underserved segments.

Once billions of ringgit are sitting in digital bank accounts, knowing what happens if one of these banks can no longer continue becomes a practical question rather than a hypothetical one.

Luckily, BNM required digital banks to prepare for that possibility before they were allowed to open.

Anyone applying for a digital banking licence has to submit an exit plan as part of the application.

BNM’s Licensing Framework for Digital Banks says the plan must cover the bank’s first five years and explain what could make the business unsustainable.

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