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".

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:

The information in this table has been reviewed to be accurate as of 30 April 2026.

1. Airwallex

Airwallex is a financial platform that helps businesses accept payments, manage multi-currency funds, and make international payments from a single account.

Alongside its payment gateway, it also offers business accounts, corporate cards, and expense management, making it suitable for businesses with customers, suppliers, or operations in multiple countries.

Key features:

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

• Create local receiving accounts in 20+ currencies with Global Accounts.

• 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

• Send payouts to 200+ countries and regions

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

2. WorldFirst

WorldFirst is a cross-border payments platform focused on businesses that buy from overseas suppliers or sell through international marketplaces. It's particularly well known for supporting businesses with supply chains in China, thanks to direct integrations with major Chinese ecommerce platforms.

Alongside international payments and multi-currency accounts, WorldFirst also offers marketplace collections and local receiving accounts for businesses selling into overseas markets.

Key features

• Local receiving accounts in 20+ currencies for collecting international payments.

• 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.

For more details, read our WorldFirst review.

3. RHB Multi-Currency Account

RHB's Multi Currency Account for Business & SME is a foreign currency deposit account for businesses that want to hold balances in multiple currencies within a traditional banking relationship.

It's available as either a Call Deposit or a Term Deposit and is managed through RHB Reflex, the bank's business banking platform.

Unlike payment platforms, the account is designed primarily for holding foreign currency deposits rather than collecting payments from overseas customers or managing cross-border commerce.

Key features

• Hold balances in up to 33 foreign currencies, plus Paper Gold and Paper Silver, within a single account.

• Available as both Call Deposit and Term Deposit accounts.

• Earn interest on eligible foreign currency deposits.

• Managed through RHB Reflex business internet banking.

• Protected by PIDM up to RM250,000 per depositor (eligible deposits only; Paper Gold and Paper Silver are not covered).

• Requires an RHB Ringgit Current Account or Current Account-i linked to the same domicile branch.

4. CIMB Foreign Currency Current Account-i

CIMB's Foreign Currency Current Account-i is a Shariah-compliant foreign currency account for businesses operating in Malaysia.

It's available in two variants: Trade FCCA-i for making and receiving foreign currency payments, and Investment FCCA-i for holding foreign currency balances.

The account is designed for businesses that prefer Islamic banking principles while managing foreign currency transactions and deposits.

Key features

• Shariah-compliant foreign currency current account based on the Commodity Murabahah concept.

• Available as Trade FCCA-i and Investment FCCA-i account types.

• Supports 13 foreign currencies, including USD, EUR, GBP, AUD, SGD, CNY, THB, and AED.

• Receive and make foreign currency payments via telegraphic transfers, demand drafts, and other supported banking channels.

• Foreign currency cheque book available for selected currencies.

5. Hong Leong foreign currency account

Hong Leong's Foreign Currency Account is designed for businesses that want to hold and manage foreign currency balances with a traditional Malaysian bank.

It supports a range of major foreign currencies, including offshore Chinese renminbi (CNH), making it suitable for businesses with international customers or suppliers.

The account can be used alongside Hong Leong's business banking services to manage foreign currency deposits and payments.

Key features

• Hold balances in selected foreign currencies, including USD, EUR, GBP, AUD, SGD, JPY, HKD, and CNH.

• Supports foreign currency deposits and withdrawals through eligible banking channels.

• Receive and send foreign currency payments via telegraphic transfers.

• Managed through Hong Leong ConnectFirst business internet banking.

• Available to Malaysian businesses and other eligible business entities.

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

• Supports offshore Chinese renminbi (CNH) for businesses trading with China.

6. Public Bank foreign currency account

Public Bank's Foreign Currency Account is designed for businesses that want to hold foreign currency balances with a traditional Malaysian bank. It's available to all Suruhanjaya Syarikat Malaysia (SSM)-registered business entities, including sole proprietorships.

The account supports businesses that receive, hold, or make payments in foreign currencies through Public Bank's banking network.

Key features

• Hold balances in a selection of major foreign currencies.

• Supports foreign currency deposits and withdrawals.

• Receive and send foreign currency payments via telegraphic transfers.

• Managed through PBe Business Banking.

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

7. Maybank business foreign currency account

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.

8. OCBC multi-currency account

OCBC's Multi-Currency Account is designed for businesses that want to hold and manage foreign currency balances through a digital banking platform.

It's available to all SSM-registered businesses and is managed through OCBC Velocity, the bank's online business banking platform.

Five currencies are activated when the account is opened, making it straightforward for businesses that regularly transact in multiple currencies.

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.

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 Business isn't currently available in Malaysia. Malaysian-incorporated companies can't open a Wise Business account, even though Wise's personal money transfer service operates in the country. For a fintech multi-currency account in Malaysia, the closest equivalents are Airwallex and WorldFirst, both BNM-regulated.

Revolut Business

Revolut Business doesn't operate in Malaysia. The product is available in the UK, EEA, Switzerland, US, Australia, New Zealand and Singapore, but not to Malaysian-incorporated businesses. If you're attracted to the all-in-one cards-plus-account model, Airwallex offers a comparable proposition that is available locally.

Payoneer

Payoneer is available to Malaysian sellers and freelancers but isn't a true multi-currency business account in the same sense as the providers above. It's primarily a marketplace receivables and payouts service rather than a general-purpose business account, so it suits a narrower use case — typically receiving payouts from platforms like Amazon, Upwork or Fiverr.

HSBC

HSBC's business banking in Malaysia is only available to companies above a high annual group turnover threshold, making it suited to large corporates rather than SMEs. 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 a foreign currency call account for SMEs and sole proprietors, and an Islamic option is available with CNY support — but earning interest requires a high average monthly balance that most SMEs are unlikely to maintain consistently. If you can't commit to that balance, the cost-benefit doesn't work out, and the providers in the main shortlist will serve you better.

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, often taking 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 and it 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.

CNH or CNY is needed for Chinese suppliers, Singapore dollars (SGD) for Singapore, US dollars (USD) and euros (EUR) for Western markets, and Japanese yen (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.

Fintech platforms tend to charge a transparent percentage fee on top of the mid-market rate — the midpoint between the buy and sell price of a currency. Ask each provider for their all-in cost on a sample transaction before committing.

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 — useful if you're just starting to trade internationally and don't want capital tied up in an account you're still testing.

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. Among the accounts reviewed, CIMB's Foreign Currency Current Account-i is Shariah-compliant. Fintech platforms don't currently offer an Islamic account structure.

PIDM deposit protection

Deposits at BNM-licensed banks are protected by PIDM up to a set amount per depositor per bank. Fintech platforms aren't covered. If you're holding large currency balances, this may point you towards keeping large reserves at a licensed bank while using a fintech platform for active payments.

Why do Malaysian businesses choose Airwallex?

Airwallex is built for businesses that actively move money across borders — not just those that want to hold a currency balance. If you're collecting from overseas customers, paying international suppliers, or issuing cards for a team that spends in multiple currencies, our platform handles all of that in one place.

Here are the three biggest advantages that you get with Airwallex:

• Transparent FX pricing. Our FX is priced at 0.4% to 0.6% above interbank, letting you save up to 80% on FX fees. Prices shown upfront before you confirm a transaction; there are no hidden markups buried in the exchange rate.

• No more SWIFT delays. Collect funds like a local in 70 countries — overseas customers pay you the same way they'd pay any local supplier, with no SWIFT delays or intermediary deductions.

• One platform, multiple jobs. Global Accounts, FX & Transfers, and Corporate Cards all run from the same dashboard, with no minimum deposit and no monthly fee. Onboarding is fully digital.

Airwallex is regulated by Bank Negara Malaysia as a licensed money services business, E-Money Issuer, and 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?

Deposits held at BNM-licensed banks are protected by PIDM up to a set amount per depositor per bank — this covers the bank foreign currency accounts reviewed in this guide. Fintech platforms aren't covered by PIDM, so businesses holding large balances with a fintech provider should factor this into their decision.

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

No, Wise Business isn't currently available in Malaysia. Malaysian businesses looking for a fintech multi-currency account can consider Airwallex or WorldFirst, both of which are regulated by BNM 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 — and 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/my/

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/foreign-currency-current-account-i.html

4. https://www.hlb.com.my/en/business-banking/business-and-corporate-banking/deposits/foreign-currency/foreign-currency-account.html

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

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

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. 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.