Best digital business bank accounts in Malaysia (2026)

Key Takeaways:

• Malaysia has five licensed digital banks, but only two currently offer dedicated business banking products: GXBank and AEON Bank.

• Digital banks aren't yet a one-stop replacement for traditional business banking. Depending on what your business needs, you may still need a separate provider for multi-currency accounts, corporate cards, expense management, or other finance tools.

• 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: Fully live, but only for sole proprietors

GXBank is Malaysia's first digital bank to receive approval to commence operations. Its GX Biz Account is currently available to eligible sole proprietors.

The GX Biz Account offers daily interest, with no monthly fees, minimum balance requirements or transaction fees.

Eligible sole proprietors can apply through the GXBank app using their MyKad and Business Registration Number (BRN). GX Biz FlexiLoan provides a credit line of up to RM350,000, subject to eligibility.

Worth knowing: GX Biz is currently limited to sole proprietors. If your business is an Sdn Bhd, partnership, or LLP, you'll need to look at other business banking options.

Information in this section is based on GXBank’s official website as of 1 Oct 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

AEON Bank has since expanded its business banking offering to include Shariah-compliant financing products alongside its Business Current Account-i.

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 1 Oct 2026.

3. Boost Bank: Business banking with SME financing

Boost Bank is a joint venture between Axiata Group and RHB.

Its Boost SME offering includes a Business Current Account alongside SME financing products such as term loans and revolving credit.

Worth knowing: Boost SME is designed to give small businesses access to both day-to-day business banking and financing through a digital platform.

Information in this section is based on Boost Bank’s official website as of 1 Oct 2026.

4. KAF Digital Bank: Business banking is listed as “coming soon”

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.

Worth knowing: KAF is a Shariah-compliant digital bank, and its future business banking products are expected to follow Islamic banking principles.

Information in this section is based on KAF’s official website as of 1 Oct 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. Its publicly available products currently centre on personal accounts, payments, savings, and personal credit.

Ryt Bank does not currently list a dedicated business current account or business banking product on its public website.⁵

Worth knowing: Ryt Bank does not currently offer a business product.

Information in this section is based on Ryt Bank’s official website as of 1 Oct 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:

This information is based on publicly available information accessed on 1 Oct 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.

*Aspire's published information is currently inconsistent on the number of currencies available. Its pricing page lists multi-currency accounts in 8 currencies, while its Global Account page states that businesses can hold balances in 13 currencies. We've used the 8-currency figure from Aspire's pricing page in this table for consistency with its stated account offering.

Airwallex

Airwallex is a global fintech platform regulated as a licensed remittance business, e-money issuer, and registered merchant acquirer in Malaysia.

With Airwallex, businesses can hold and manage funds in 20+ currencies. 94% of our transfers go through local rails with $0 transfer fees, and you can access competitive FX rates that save you up to 80% on FX fees as compared to traditional banks.

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 also 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 WorldFirst, businesses can collect global revenue in 20+ currencies and connect with 130+ marketplaces and online payment providers, including platforms such as Shopee, TikTok Shop, Amazon, and Alibaba.⁴

Note that the Malaysia site does not currently publish a specific number of currencies businesses can hold or the number of countries they can send payments to.

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 1 Oct 2026.

Wallex

Wallex is a cross-border payments platform operated by M-DAQ Global, with licensed operations in Malaysia, Singapore, Indonesia, and Hong Kong. Malaysian businesses can use Wallex for international payments, FX, collections, and multi-currency account services.

Businesses can hold 13 currencies in a multi-currency wallet and send payments to 160+ countries.⁵ Wallex also supports business features such as bulk payments, maker-checker workflows, and transaction tracking for finance teams managing international payments.⁵

Worth knowing: Wallex's current public materials do not state that it offers corporate cards, dedicated expense management, or accounting integrations. It works well as 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 1 Oct 2026.

Aspire

Aspire is a Singapore-headquartered fintech platform that supports businesses in Malaysia. Malaysian-incorporated businesses can apply for an Aspire account online.⁶

Aspire offers multi-currency accounts, global payments, accounts payable automation, invoicing, expense management, and accounting integrations with platforms including Xero and QuickBooks.⁶

Worth knowing: Aspire's corporate cards are available to businesses incorporated in Singapore, Indonesia, Hong Kong, the US, and Australia. Malaysian businesses are not listed among the eligible markets.

Information in this section is based on Aspire’s official website as of 1 Oct 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 and Boost Bank's Business Current Account are both available to eligible sole proprietors.

• 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.

• 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.

• Access free local transfers via DuitNow and GIRO.

• Transfer internationally 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, both GXBank Biz and Boost Bank's Business Current Account offer digital business banking options. For Sdn Bhd companies, partnerships, LLPs, or businesses with cross-border payment needs, fintech platforms such as Airwallex offer multi-currency accounts, international transfers, corporate cards, and expense management without requiring a branch visit.

Which licensed digital banks in Malaysia have a business account?

As of October 2026, three of Malaysia's licensed digital banks offer business accounts. GXBank Biz is available to eligible SSM-registered sole proprietors, while AEON Bank Biz offers a Shariah-compliant Business Current Account-i. Boost Bank also offers a Business Current Account for eligible businesses. KAF Digital Bank and Ryt Bank have not launched dedicated business accounts.

Can an Sdn Bhd open a digital business bank account in Malaysia?

Yes. Boost Bank offers a Business Current Account to eligible Sdn Bhd companies, so an Sdn Bhd can open a business account with a licensed digital bank. Other options include traditional banks and licensed fintech platforms. Airwallex also 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:

1.  https://gxbank.my/bizaccount

2.  https://www.aeonbank.com.my/business

3. https://myboostbank.co/

4. https://www.kafdigitalbank.com.my/

5. https://www.rytbank.my/

6.  https://www.worldfirst.com/my, https://www.worldfirst.com/my/product

7. https://www.wallex.asia/en-sg/business-solutions/multi-currency-wallets, https://help.wallex.asia/route-to-payment

8. https://aspireapp.com/pricing