Best digital business bank accounts in Malaysia (2026)
Cherie Foo
Growth Content Manager
Key Takeaways:
Malaysia has five licensed digital banks, but dedicated business accounts are still limited. Only GXBank has a fully live business account open for applications today, and it is restricted to sole proprietors.
If your business is an Sdn Bhd, a partnership, or an LLP, no licensed digital bank currently accepts you. Your options are traditional banks or a licensed fintech platform.
Airwallex is a licensed fintech platform that lets Malaysian businesses open multi-currency Global Accounts, make international transfers, issue corporate cards, and manage expenses, all without visiting a branch.
Finding the best digital business bank account in Malaysia is harder than it sounds.
Malaysia now has five licensed digital banks, but most were built with individual customers in mind. Business banking features, where they exist at all, are still being rolled out.
This guide covers the digital-first business account options available to Malaysian businesses in 2026, from licensed digital banks to fintech platforms.
For a full comparison of both digital and traditional banks (such as Maybank, CIMB, and Hong Leong Bank), see our guide to the 10 best business bank accounts in Malaysia.
What is a digital business bank account in Malaysia?
The term "digital business bank account" covers two different types of providers.
The first type is a licensed digital bank. These are full banks regulated by Malaysia's central bank under the Financial Services Act 2013 or the Islamic Financial Services Act 2013. Here’s how they work:
They operate without physical branches and are held to the same regulatory standards as traditional banks.
Deposits are protected by Perbadanan Insurans Deposit Malaysia (PIDM) up to RM250,000 per depositor.
Malaysia currently has five licensed digital banks: GXBank, AEON Bank, Boost Bank, KAF Digital Bank, and Ryt Bank.
The second type is a licensed fintech platform.
These providers aren't banks, but they're regulated by Malaysia's central bank, typically as licensed remittance businesses or payment institutions under the Money Services Business Act 2011.
They can open accounts and process payments, but they don't offer loans, credit facilities, or PIDM deposit protection.
For business owners, the distinction matters less than what each provider can actually do for you:
A licensed digital bank gives you deposit insurance and potential access to credit.
A licensed fintech platform often goes further on international payments, multi-currency accounts, and business tools.
You can use either, or both.
5 BNM-licensed digital banks in Malaysia
All five digital banks hold licences from Malaysia's central bank and operate without physical branches. But their business banking offerings vary widely, and in some cases, don't exist yet.
1. GXBank: The only licensed digital bank with a live business account
GXBank is Malaysia's first licensed digital bank, backed by Grab and the Kuok Group. It's also currently the only one of the five with a fully live, dedicated business account you can open today.
The GXBank Biz Account earns 2.50% p.a. daily interest¹, made up of a 1.0% p.a. base rate plus a 1.50% p.a. campaign bonus running from 1 April to 30 September 2026. There are no monthly fees, no minimum balance, and no transaction charges.
You apply entirely through the GXBank app using your MyKad and Business Registration Number (BRN), with no branch visit needed. DuitNow QR is supported, and you can schedule transfers in advance.
If you need working capital, the Biz FlexiLoan gives you a credit line of up to RM150,0001, accessible through a bundle option when you open the account.
Worth knowing: The Biz Account is only available to SSM-registered sole proprietors. If your business is an Sdn Bhd, a partnership, or an LLP, you cannot apply.
Information in this section is based on GXBank’s official website as of 6 Aug 2026.
2. AEON Bank: Live with limited onboarding
AEON Bank launched its business banking vertical, AEON Bank Biz, on 8 August 2025.
Its core product is the Business Current Account-i, which is a Shariah-compliant current account with integrated cash management tools including DuitNow and RENTAS transfers, bulk payment approvals, and multi-user access controls.²
As of July 2026, AEON Bank has also added Term Financing-i and Working Capital Financing-i: Shariah-compliant financing facilities with no collateral required and no hidden charges, disbursed fully online.²
AEON Bank Biz is currently Malaysia's only Shariah-compliant digital business account from a licensed digital bank.
Worth knowing: The current rollout is focused on vendors, suppliers, and business partners within the AEON ecosystem. Businesses outside it can register their interest through the AEON Bank Biz website, but broader access is still being expanded.
Information in this section is based on AEON Bank’s official website as of 6 Aug 2026.
3. Boost Bank: SME financing, but no business current account
Boost Bank, a joint venture between Axiata Group and RHB, has built a strong personal savings product and an integrated e-wallet experience. On the business side, it offers SME term loans and revolving credit, but does not currently offer a dedicated business current account.3
Worth knowing: If you need short-term SME financing and already use the Boost app, it's worth exploring. But if you need a day-to-day operating account for your business, Boost Bank doesn't fill that role yet.
Information in this section is based on Boost Bank’s official website as of 6 Aug 2026.
4. KAF Digital Bank: Only personal banking is live
KAF Digital Bank, Malaysia's second Islamic digital bank, launched its personal savings account to the public on 8 August 2025 and rolled out Basic Banking Services in April 2026.4
Its business account remains listed as "Akan Datang" (coming soon), with no timeline or product details published.
KAF's consortium includes partners like Carsome, StoreHub, and MoneyMatch, which points toward a future SME focus. But no business product details have been announced.
Worth knowing: KAF is a Shariah-compliant bank. When a business account does launch, it will operate under Islamic banking principles.
Information in this section is based on KAF’s official website as of 6 Aug 2026.
5. Ryt Bank: Personal banking only
Ryt Bank, backed by YTL Corporation and Sea Group, launched in August 2025 with a focus on AI-powered personal banking. It has not announced any business banking products.5
For business owners, it's not a relevant option at this stage.
Information in this section is based on Ryt Bank’s official website as of 6 Aug 2026.
Fintech platforms offering digital business accounts in Malaysia
Licensed digital banks are built around MYR. If your business collects from overseas customers, pays foreign suppliers, or operates in multiple currencies, you'll hit their limits fast. Most don't support multi-currency accounts, and international transfers often come with limited coverage or opaque pricing.
This is where licensed fintech platforms come in. For day-to-day business operations involving cross-border money movement, they often go further than any digital bank account currently available in Malaysia.
Here’s a quick overview of the best fintech platforms in Malaysia:
| Multi-currency accounts | Send payments | Corporate cards | Expense management | Accounting integrations | Monthly fee |
|---|---|---|---|---|---|---|
Airwallex | 20+ currencies | 200+ countries |
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WorldFirst6 | 20+ currencies⁴ | 210+ countries |
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Wallex7 | 13 currencies⁶ | 160+ countries |
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Aspire8 | 8 currencies (based on Pricing page) |
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This information is based on publicly available information accessed on 6 Aug 2026. Information reflects Airwallex's own research and has not been independently verified.
Note: As Aspire does not maintain a dedicated Malaysia website, all Aspire information in this article is based on Aspire's Singapore website.
Airwallex
Airwallex is a global fintech platform regulated as a licensed remittance business, e-money issuer, and registered merchant acquirer in Malaysia. It is built for businesses that need to move money across borders without the cost and complexity of traditional banking.
With Airwallex, you can open Global Accounts: local-currency accounts in 20+ currencies with real local bank details in markets including the US, UK, Australia, Hong Kong, and the EU.
With Global Accounts, your customers pay you like a local transfer. Funds arrive without SWIFT delays or intermediary deductions, and land in a multi-currency wallet you control. You hold, convert, and pay out when the rate suits you.
Beyond accounts and transfers, Airwallex covers the operational side too: multi-currency corporate cards for your team, expense management, bill pay, and automatic sync to Xero, QuickBooks, and NetSuite. DuitNow is supported for local MYR payments.
Worth knowing: There is no monthly fee, no minimum balance, and the application is fully online.
WorldFirst
WorldFirst operates in Malaysia through a dedicated local platform and is a strong option for businesses that sell on global marketplaces or pay suppliers in China.
With a World Account, you can hold and receive funds in 20+ currencies⁴, send payments in 100+ currencies to 210+ countries and territories⁴, and collect from 130+ global marketplaces including Shopee, TikTok Shop, Amazon, and Alibaba⁴.
The World Card lets you pay in 16 currencies with 0% foreign transaction fees⁴. Direct integration with 1688.com lets you pay Chinese suppliers in CNH without needing a Chinese bank account.⁴
Worth knowing: WorldFirst is particularly well suited to eCommerce sellers managing multi-currency marketplace revenue.
Information in this section is based on WorldFirst’s official website as of 6 Aug 2026.
Wallex
Wallex is a cross-border payments platform operated by M-DAQ Global, with a licensed presence in Singapore, Indonesia, and Hong Kong. Malaysian businesses can open an account and access the platform's payments and FX tools.
You can pay in 47 currencies⁵, collect via virtual accounts in 36 currencies⁵, and hold up to 13 currencies in a multi-currency wallet⁵. A cash management feature lets you earn up to 2.5% p.a. on funds held in the wallet⁵.
Bulk payments and maker-checker workflows are available for finance teams handling high-volume transactions.
Worth knowing: Wallex has no corporate cards, expense management, or accounting integrations. It works well if what you need is a focused cross-border payments tool, rather than a broader financial operations platform.
Information in this section is based on Wallex’s official website as of 6 Aug 2026.
Aspire
Aspire is a Singapore-headquartered fintech platform. Malaysia is listed as a supported country in Aspire's official account opening documentation, and Malaysian-incorporated businesses can apply online.⁶
Aspire offers multi-currency accounts, global payments, accounts payable automation, invoicing, and accounting integrations with Xero and QuickBooks.
Worth knowing: If you need corporate cards or card-based expense management as a Malaysian-incorporated business, Aspire is not the right fit. It only offers these features for companies incorporated in other countries.
Information in this section is based on Aspire’s official website as of 6 Aug 2026.
How to choose the right digital business account in Malaysia
The right account depends on your business structure, how you transact, and whether you trade internationally. Here's a quick guide:
Sole proprietors transacting in MYR: GXBank Biz is the only licensed digital bank with a live business account today. Zero fees, daily interest, fully app-based.
Sole proprietors with cross-border needs: WorldFirst is generally the better fit, with multi-currency accounts, international transfers, and marketplace payment collections for eligible sole proprietors.
Sdn Bhd, LLP, or partnership: No licensed digital bank in Malaysia currently offers business accounts for these structures. If you want a fully online alternative, fintech platforms such as Airwallex support eligible Malaysian-incorporated companies.
Marketplace sellers (Shopee, Amazon, TikTok Shop): WorldFirst has 130+ marketplace integrations⁴ and is built for this. Airwallex also supports marketplace collections and adds corporate cards and accounting integrations.
Businesses paying overseas suppliers or collecting in foreign currencies: Airwallex, WorldFirst, and Wallex all offer multi-currency accounts with no monthly fee.
Teams needing corporate cards and expense management: Airwallex is the only option here for Malaysian-incorporated businesses.
Shariah-compliant businesses: AEON Bank Biz is the only Shariah-compliant digital business account from a licensed digital bank. Onboarding is currently focused on the AEON ecosystem; CIMB Islamic remains the most established alternative for broader access.
Businesses needing credit facilities, cheque books, or high transaction limits: A traditional bank is still the right option. See our guide to the 10 best business bank accounts in Malaysia.
Why Malaysian businesses use Airwallex
Licensed digital banks are a good starting point, especially for sole proprietors who want simple MYR banking. But if your business trades internationally, you'll quickly need more than a domestic business account.
With Airwallex, you can:
Collect globally with local account details in 20+ currencies.
Pay internationally with transfers to 200+ countries.
Manage team spending with corporate cards and expense management.
Keep finances connected with integrations for Xero, QuickBooks, and NetSuite.
One example is Applecrumby, a Malaysian eco-friendly baby brand. After switching to Airwallex, it saved approximately RM100 per international transaction and expanded across Asia 2–3× faster than originally planned.
Frequently asked questions (FAQs)
What is the best digital business bank account in Malaysia in 2026?
It depends on your business structure and needs. For SSM-registered sole proprietors transacting primarily in MYR, GXBank Biz is currently the only licensed digital bank with a live business account. For Sdn Bhd companies, partnerships, LLPs, or any business with cross-border payment needs, a licensed fintech platform like Airwallex gives you multi-currency accounts, international transfers, corporate cards, and expense management, all with no branch visit and no monthly fee.
Which licensed digital banks in Malaysia have a business account?
As of August 2026, two of the five licensed digital banks offer a business account. GXBank Biz is fully live and open to SSM-registered sole proprietors. AEON Bank Biz has launched its Business Current Account-i, currently focused on businesses within the AEON ecosystem. Boost Bank, KAF Digital Bank, and Ryt Bank have not launched dedicated business accounts.
Can an Sdn Bhd open a digital business bank account in Malaysia?
Not through a licensed digital bank: all five currently restrict business accounts to sole proprietors, or are limited to ecosystem partners. Sdn Bhd companies can apply through traditional banks or licensed fintech platforms. Airwallex supports eligible Malaysian-incorporated companies, including Sdn Bhd entities, through a fully online application process.
What documents do I need to open a digital business bank account in Malaysia?
For licensed digital banks like GXBank Biz, you need your MyKad and your SSM Business Registration Number (BRN); there’s no branch visit or paperwork required.¹ For fintech platforms, requirements vary by provider but typically include your SSM registration documents, identity documents for directors, and in some cases a recent bank statement. Applications are fully online for all providers covered in this guide.
What is the difference between a licensed digital bank and a fintech platform in Malaysia?
A licensed digital bank holds a banking licence from Malaysia's central bank, which means it can offer PIDM deposit protection up to RM250,000 per depositor and provide credit facilities like loans. A licensed fintech platform is regulated as a remittance business or payment institution. It can offer accounts and transfers but not PIDM protection or lending. Both operate entirely online with no branch visits required.
Do digital business bank accounts in Malaysia support DuitNow?
GXBank Biz supports DuitNow QR for receiving payments.¹ Among fintech platforms, Airwallex supports DuitNow for both sending and receiving local MYR payments. Traditional banks universally support DuitNow Business, including corporate transfers using a Business Registration Number as a proxy.
Sources:
https://gxbank.my/bizaccount
https://www.aeonbank.com.my/business
https://myboostbank.co/
https://www.kafdigitalbank.com.my/
https://www.rytbank.my/
https://www.worldfirst.com/my, https://www.worldfirst.com/my/product
https://www.wallex.asia/en-sg/business-solutions/multi-currency-wallets, https://help.wallex.asia/route-to-payment
https://aspireapp.com/pricing
This publication does not constitute legal, tax, or professional advice from Airwallex nor substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. This publication is not intended to be relied on for the purpose of making a decision about a financial product and users should verify details independently.
All comparisons and information contained in this publication reflect only Airwallex’s own research using public documentation on the stated dates and have not been independently validated.
Product features, pricing and other details are subject to change. All third-party names, products, and logos are trademarks of their respective owners and are referred to for identification and compatibility purposes only. If you would like to request an update, feel free to contact us at [[email protected]].
Airwallex (Malaysia) Sdn. Bhd., a company incorporated under the laws of Malaysia with company registration number 201801007747 (1269761-X), is regulated as a licensed remittance business under the Money Services Business Act 2011 (Licence number 00743 with an expiry date of 3 August 2028, an E-Money Issuer and a registered merchant acquirer under the Financial Services Act 2013.)
Cherie Foo
Growth Content Manager
Cherie is a Growth Content Manager at Airwallex, where she develops content for businesses in Singapore and across Southeast Asia. She focuses on turning complex topics like cross-border payments, business accounts, and spend management into clear, practical guides that help founders and finance teams make confident decisions.
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