8 best multi-currency accounts in Malaysia (2026 guide)

Key takeaways:

• There are two main types of multi-currency account available to Malaysian businesses: bank foreign currency accounts and fintech global accounts. They're built for different purposes, so the right choice depends on how your business actually moves money.

• The right account depends on whether you need to collect from overseas customers, pay international suppliers, or simply hold a foreign currency balance.

• With Airwallex, you can collect like a local in 70 countries, transfer to 200+ countries, and accept payments in 180+ countries via 160+ payment methods.

The best multi-currency account can make international business much easier for Malaysian companies. Whether you need to send payments abroad, receive funds in different currencies, or reduce foreign exchange costs, the right account can streamline how your business handles money globally.

In this guide, we compare the best multi-currency account options in Malaysia and walk through the features, fees, and trade-offs you should know before opening one.

If a general business bank account is what you actually need, start with our guide to the best business bank accounts in Malaysia instead.

What is a multi-currency account?

A multi-currency account lets your business hold, send, and receive money in more than one currency from a single account, without converting back to your home currency each time.

For businesses trading internationally, that means fewer conversion fees and faster movement of money across borders.

Think of it as a wallet with separate compartments for ringgit, US dollars, euros, and Singapore dollars; you keep each currency separate and use it when you need it. In Malaysia, there are two distinct types:

• Bank foreign currency accounts: These are held at a licensed Malaysian bank and are suited to storing or hedging a specific currency. Most rely on SWIFT for international transfers, which can take several business days and may involve intermediary deductions. Most don't support local collection from overseas customers.

• Fintech global accounts: These are offered by regulated fintech platforms and are built for active cross-border operations. They let you collect payments via local payment rails in multiple countries, meaning your overseas customer makes a domestic transfer in their own currency. You can then convert at competitive rates and pay out internationally, often faster and at lower cost than SWIFT.

The right type depends on your primary need.

If you want to park a currency balance or hedge against exchange rate movements, a bank foreign currency account may suit you.

If you're actively collecting from overseas customers or paying international suppliers regularly, a fintech global account is likely the better fit.

Foreign currency account vs multi-currency account: what's the difference?

These two terms get used interchangeably, but they describe different products:

• A foreign currency account typically holds a single foreign currency per account: if you want to hold both USD and EUR, you'd open two separate accounts.

• A multi-currency account holds several currencies within a single account, with each balance kept separate.

Most Malaysian banks use the term "foreign currency account" even when the product technically supports multiple currencies in one record. Fintech platforms tend to use "multi-currency account" or "global account".

For example, the Airwallex Business Account is a true multi-currency account that gives you a multi-currency wallet to manage your funds. You can hold 20+ currencies, with each currency kept as a separate balance within the same wallet.

You don't need a separate account for every currency, and you can view and manage your USD, EUR, GBP and other balances independently from the same account.

Which are the best multi-currency accounts in Malaysia?

Here’s a quick overview of the best multi-currency business accounts available in Malaysia, covering both fintech platforms and bank foreign currency accounts:

This information is based on publicly available information accessed on 16 Sep 2026. Information reflects Airwallex's own research and has not been independently verified.

1. Airwallex Business Account

Airwallex lets Malaysian businesses hold 20+ currencies in one multi-currency account, and it has one of the broadest currency coverage out of all the providers in this comparison.

Each currency is kept as a separate balance within the same account, so you can hold USD, EUR, GBP and other currencies at the same time without opening a separate account for each one.

The account is also built for moving money internationally. You can receive online payments from customers in 180+ countries and send transfers to 200+ countries. 94% of Airwallex transfers are routed through local rails with $0 transfer fees.

Airwallex also supports like-for-like settlement, meaning a customer payment made in USD can be settled directly into your USD balance instead of being automatically converted to MYR.

You can then use those USD funds to pay USD expenses, such as Google Ads or Meta Ads, or pay suppliers in USD. This can help you avoid unnecessary conversions and FX fees.

Key features:

• Hold 20+ currencies in one account

• Send transfers to 200+ countries and regions

• Accept payments in 180+ countries using 160+ payment methods

• Support one-off payments, recurring payments, subscriptions, payment links, embedded checkout, and marketplace payments.

• Built-in fraud prevention with features such as 3D Secure, AVS, CVV verification, device fingerprinting, and AI-powered risk monitoring

• Includes multi-currency business accounts, corporate cards, expense management, and bill pay on the same platform.

2. WorldFirst World Account

WorldFirst is a cross-border payments platform built for businesses that buy from overseas suppliers or sell through international marketplaces.

It is particularly useful for businesses sourcing from China, with dedicated payment support for 1688.com and tools for managing international collections and supplier payments.

Alongside its multi-currency World Account, WorldFirst offers local receiving accounts and marketplace collection tools for businesses selling into overseas markets.

Key features

• Local receiving accounts in 20+ currencies .

• Make international payments to suppliers in 100+ currencies.

• Direct payment support for Chinese ecommerce platforms, including 1688 and Taobao.

• Marketplace collection support for platforms such as Amazon, eBay, Shopify, Etsy, and TikTok Shop.

• Multi-currency World Account for holding and managing foreign currencies.

• Business debit card for company spending.

Information in this section is based on WorldFirst’s official website as of 16 Sep 2026.

3. RHB Multi-Currency Account

RHB's Multi Currency Account is designed for Malaysian businesses that regularly deal in foreign currencies, particularly importers and exporters.

It lets businesses hold up to 33 foreign currencies in one account, receive foreign currency directly without converting it to MYR, and convert currencies when needed for future payments. Businesses can manage their currency balances and conversions through RHB Reflex.

Key features

• Hold up to 33 foreign currencies in one account

• Receive foreign currency directly into the account without automatic conversion

• Convert one foreign currency into another through RHB Reflex

• Available as Call Deposit and Term Deposit options

• Earn interest on selected foreign-currency balances

• Requires a Ringgit Savings or Current Account with RHB at the same domicile branch

• Protected by PIDM up to RM250,000 per depositor; Paper Gold and Paper Silver investments are not covered

Information in this section is based on RHB’s official website as of 16 Sep 2026.

4. CIMB Multi-Currency Account (MCA)

CIMB's Multi Currency Account is aimed at Malaysian businesses that regularly deal in foreign currencies. It lets you keep MYR and multiple foreign-currency balances in the same account, so you can manage different currencies without opening a separate account for each one.

The account comes in Trade MCA and Investment MCA variants, depending on how you use your foreign-currency funds.

Key features

• Hold and transact in MYR and 13 foreign currencies

• Available as Trade MCA and Investment MCA

• Receive and make foreign-currency payments through supported banking channels

• Transfer funds between the MCA and CIMB Ringgit Accounts

• Convert between supported currencies

• Access the account through CIMB's business banking channels

Information in this section is based on CIMB’s official website as of 16 Sep 2026.

5. Hong Leong Bank Pay&Save Account with Multi-Currency Feature

Hong Leong Bank's Pay&Save Account for Sole Proprietors includes a Multi-Currency Feature that lets eligible businesses manage MYR and foreign-currency balances within the same account.

It is designed for sole proprietors that need to hold and transact in multiple currencies while keeping their business banking with a traditional Malaysian bank.

The account supports a range of foreign currencies and can be used for both local and foreign-currency transactions through Hong Leong's banking channels.

Key features

• Hold MYR and up to 21 foreign currencies in one account

• Make and receive foreign-currency payments in supported currencies

• Transfer funds between MYR and foreign-currency balances

• Access the account through Hong Leong ConnectFirst

• Supports foreign currencies including USD, EUR, GBP, SGD, JPY, AUD, HKD and CNH

• Eligible deposits are protected by PIDM, subject to applicable limits

Information in this section is based on Hong Leong’s official website as of 16 Sep 2026.

6. Public Bank PB Multi Foreign Currency Current Account

Public Bank's PB Multi Foreign Currency Current Account (PB MFCA) is a straightforward option for businesses that want multi-currency banking with a traditional Malaysian bank.

It lets you keep multiple foreign-currency balances under one account, while handling deposits and international payments through Public Bank's existing banking infrastructure.

Key features

• Hold up to 12 foreign currencies in one account

• Make and receive foreign-currency payments via telegraphic transfers

• Deposit and withdraw supported foreign currencies

• Manage MYR and foreign-currency funds through the same account structure

• Available to eligible business entities, including sole proprietorships, partnerships and companies

• Eligible deposits are protected by PIDM, subject to applicable limits

Information in this section is based on Public Bank’s official website as of 16 Sep 2026.

7. Maybank Master Foreign Currency Account (MFCA)

Maybank’s business foreign currency account is designed for businesses that want to hold and manage foreign currency balances within a traditional banking relationship. It supports a range of major currencies and can be managed through Maybank’s business banking channels.

It’s suitable for businesses that receive or make foreign currency payments and want to keep those balances with Malaysia’s largest banking group.

Key features

• Hold balances in a selection of major foreign currencies.

• Support foreign currency deposits and withdrawals.

• Receive and send foreign currency payments via telegraphic transfers.

• Online foreign currency transfers available through Maybank2u Biz.

• Accessible through Maybank’s business banking network and branch network.

• Eligible deposits are protected by PIDM, subject to applicable limits.

For more details, read our guide to the Maybank Master Foreign Currency Account.

Information in this section is based on Maybank’s official website as of 16 Sep 2026.

8. OCBC multi-currency account

OCBC's Multi Currency Account is designed for businesses that make and receive payments in multiple foreign currencies.

Five currencies are automatically enabled when you open the account, and five more can be added, giving you access to 10 currencies in total. The account is managed through OCBC Velocity and is available to businesses registered with SSM.

Key features

• Hold balances in five foreign currencies activated at account opening, with additional supported currencies available.

• Supports major foreign currencies.

• Receive and send foreign currency payments via telegraphic transfers.

• Supports foreign currency deposits and withdrawals.

• Eligible deposits are protected by PIDM, subject to applicable limits.

Information in this section is based on OCBC’s official website as of 16 Sep 2026.

Multi-currency providers not available (or not suited) to Malaysian businesses

Several well-known international providers come up in searches but either aren't available to Malaysian businesses or are restricted to a narrow segment. If you're researching them, here's what's actually accessible.

Wise Business

Wise's Malaysia business page currently states that “Malaysia doesn’t have Business yet.” Malaysian-incorporated companies cannot currently open a Wise Business account, although Wise's personal services are available in Malaysia.

Revolut Business

Revolut Business is not currently available to businesses registered in Malaysia. Revolut's current eligibility list covers markets including Singapore, Australia, the US, UK, EEA and Switzerland, but Malaysia is not included.

HSBC

HSBC's Malaysia business banking account is only available to companies with group annual turnover above MYR225 million and requires the company to be incorporated in Malaysia.

If your business meets that threshold, HSBC's global network is a credible option; if not, focus on the providers in the main shortlist.

For more details, read our guide to HSBC’s Business Account.

UOB

UOB offers foreign-currency accounts to Malaysian businesses in major currencies including USD, AUD, NZD, GBP, EUR, HKD, SGD and JPY.

The business account does not require a minimum deposit, but earning interest on a Call Account requires a minimum average monthly balance, ranging from 10,000 GBP to 150,000 HKD depending on the currency.

For more details, read our guide to UOB’s Business Account.

What to look for in a multi-currency account

If you're comparing accounts for the first time, the number of options can feel overwhelming. These are the factors that actually matter for businesses trading across borders.

How you receive international payments

There's a meaningful difference between SWIFT transfers and local collection.

With SWIFT, your overseas customer sends an international wire that passes through one or more intermediary banks (each of which may deduct a fee) before reaching you. The entire journey may take several business days.

With local collection, your fintech platform gives you local bank details in the customer's country, so they make a domestic transfer in their own currency. The transfer arrives faster, with no intermediary deductions.

Which currencies your business needs

Malaysia's major trading partners include China, Singapore, the United States, Japan, and the European Union, each requiring a different currency.

CNY or USD is needed for Chinese suppliers, SGD for Singapore, USD and EUR for Western markets, and JPY for Japan. Map your own supplier and customer currencies before comparing accounts.

How FX fees are charged

Banks typically embed FX markups in the exchange rate rather than quoting them separately, which makes the true cost harder to see.

In contrast, fintech platforms tend to charge a transparent percentage fee on top of the mid-market rate.

For example, Airwallex charges competitive rates of 0.4% to 0.6% above interbank, letting you save up to 80% on FX fees as compared to traditional banks.

Minimum deposits and upkeep costs

Traditional bank foreign currency accounts often require minimum deposits and may charge ongoing fees for dormancy or transactions. Fintech platforms generally require no minimum deposit.

Account opening process

Bank foreign currency accounts typically require branch visits and certified SSM documents, which adds friction if your company has foreign directors or shareholders.

Fintech platforms including Airwallex offer fully digital onboarding, so you can open a business account online without visiting a branch.

Shariah compliance

If your business operates under Islamic finance principles, only a subset of providers offer an Islamic account structure. Fintech platforms don't currently offer an Islamic account structure.

Why do Malaysian businesses choose Airwallex?

Airwallex is designed for businesses that regularly move money across borders, not just those that need somewhere to keep foreign currencies.

Whether you're collecting payments from overseas customers, paying international suppliers, or managing team spending across different currencies, you can handle it all from one platform. Here are the biggest advantages that you get with Airwallex:

• Competitive FX pricing. Our FX is priced at 0.4% to 0.6% above interbank, letting you save up to 80% on FX fees as compared to traditional banks.

• Free transfers. 94% of our transfers go through local rails with $0 transfer fees. 93% of our transfers arrive on the same day.

• One platform for your global finances. Airwallex gives you Global Accounts, FX & Transfers, Payments, and Corporate Cards in a single account, with no minimum deposit and no monthly fee. Onboarding is fully digital.

Airwallex is licensed in Malaysia as a money services business and E-Money Issuer, and is also a registered merchant acquirer.

Frequently asked questions (FAQs)

Can a Malaysian business open a multi-currency account that holds USD?

Yes, both licensed Malaysian banks and fintech platforms like Airwallex let businesses hold US dollars in a multi-currency account. Bank foreign currency accounts typically require a minimum deposit in USD to open, while fintech platforms generally have no minimum.

What's the difference between a single-currency foreign account and a multi-currency account?

A foreign currency account typically holds one foreign currency per account, while a multi-currency account holds several currencies within a single account. Some Malaysian banks offer both options, and fintech platforms like Airwallex offer multi-currency wallets as standard.

Are multi-currency account deposits in Malaysia protected by PIDM?

Eligible deposits held with PIDM member banks are protected up to RM250,000 per depositor per member bank, subject to PIDM's rules. This protection applies to eligible deposits in the bank accounts covered in this guide. Fintech platforms are not covered by PIDM, so businesses holding larger balances should check how customer funds are safeguarded before choosing a provider.

Is Wise Business available as a multi-currency account option in Malaysia?

No. Wise's Malaysia website currently states that “Malaysia doesn’t have Business yet.” Malaysian businesses looking for a fintech multi-currency account can consider Airwallex, which is licensed locally and designed for cross-border business use.

What are the main disadvantages of a bank foreign currency account in Malaysia?

Bank foreign currency accounts often come with minimum deposit requirements, per-transaction fees, and limited online access. On top of that, most don't support local collection from overseas customers, meaning you'll rely on SWIFT for incoming international payments.

Can I receive payments from overseas customers without opening a bank account in their country?

Yes, fintech platforms like Airwallex offer Global Accounts with local bank details in multiple countries, so your overseas customers pay you as they'd pay any local supplier. This removes the need to open a foreign bank account in each country where you collect payments.

Sources:

1. https://www.worldfirst.com/sg/product/

2. https://www.rhbgroup.com/business/sme-banking/deposits/multi-currency-account/index.html

3. https://www.cimb.com.my/en/business/business-day-to-day/deposit-investments/current-account/multi-currency-account.html

4. https://www.hlb.com.my/en/personal-banking/open-personal-and-business-bank-account-online.html?icp=hlb-en-home-midbody-txt-apply-online

5. https://www.pbebank.com/en/banking/foreign-currency-accounts/foreign-currency-current-account/

6. https://www.maybank2u.com.my/maybank2u/malaysia/en/business/deposits/deposit_account/master_foreign_currency_account.page

7. https://www.ocbc.com.my/business-banking/smes/accounts/multi-currency-account