7 best Revolut alternatives in Malaysia (2026)

Key Takeaways:

• Residents of Malaysia currently can't open a Revolut account, as Malaysia isn't among Revolut's supported countries.

• For personal use, locally licensed apps like Wise, BigPay, and Touch 'n Go eWallet replicate parts of the Revolut experience.

• For Malaysian businesses, Airwallex Business Account offers what Revolut Business does, including multi-currency accounts, corporate cards, and international transfers.

If you're searching for Revolut alternatives in Malaysia, you're not short of options.

Revolut doesn't currently accept Malaysian residents as customers¹, and it isn't on the company's published list of supported countries.

This guide covers seven Revolut alternatives that work for Malaysian users. We'll look at what each does well, where each falls short, and how to choose based on how you actually use Revolut today.

Is Revolut available in Malaysia?

No. Malaysia isn't currently on Revolut's list of supported countries, so residents of Malaysia can't open a Revolut account using a Malaysian residential address.

Can I use my Revolut card in Malaysia if I already have one?

Yes. If you already have a Revolut account from a supported country, you can generally use your card in Malaysia wherever Visa or Mastercard is accepted. Revolut supports spending in MYR, so an existing customer can use their card for purchases in Malaysian ringgit.

This is different from being able to open a Revolut account as a Malaysian resident. Revolut supports spending in Malaysia, but doesn't currently offer account sign-up to residents of Malaysia.

Will Revolut launch in Malaysia?

Revolut hasn't announced a public launch date for Malaysia. The company has said that Singapore is a launchpad for its broader expansion across Southeast Asia, but there is currently no confirmed timeline for a Malaysian launch.

Information in this section is based on Revolut’s official website as of 28 Sep 2026.

What Malaysians like about Revolut

Before looking at alternatives, it’s worth understanding what makes Revolut useful. The best fit will depend on the features you use most.

Holding multiple currencies in one account

Revolut lets you hold balances in multiple currencies inside one app. You can convert between them on demand, send to other Revolut users, and spend any held currency directly with the card.

For frequent travellers and people who get paid in foreign currencies, this is the core appeal.

Low-fee currency exchange

Revolut offers an allowance for fee-free currency exchange, with the amount depending on your plan. Once you exceed the allowance, or when exchanging outside certain hours, additional fees may apply. Higher-tier plans come with larger allowances.

An integrated card

Every Revolut account comes with a Visa or Mastercard debit card that works wherever the card network is accepted. When you spend in a currency you already hold, there's no conversion. When you don't, the card uses the Revolut exchange rate.

International transfers built into the app

You can send money to bank accounts in dozens of countries directly from the app. Fees vary by destination, and higher plans get discounts on transfer fees.

Sub-accounts and budgeting

Revolut Vaults let you set aside money for specific goals, and the app automatically categorises spending so you can see where your money goes.

Business banking

Revolut Business gives companies multi-currency accounts, corporate cards, expense tools, and global transfers in one platform. For SMEs in supported countries, it's one of the most popular alternatives to traditional business banking.

If you only use Revolut for one or two of these (for example, a travel card and the occasional transfer), a single Malaysian alternative can probably cover you. If you use most or all of them, you'll likely end up combining two or three apps.

The sections below are organised by what each alternative does best, so you can match them to how you actually use Revolut.

Information in this section is based on Revolut’s official website as of 28 Sep 2026.

Revolut alternatives in Malaysia (personal use)

Here’s a quick overview of the best Revolut alternatives in Malaysia, for personal use:

This information is based on publicly available information accessed on 28 Sep 2026. Information reflects Airwallex's own research and has not been independently verified.

1. Wise

Wise is particularly well suited to people who regularly move money across borders or need to hold and spend in multiple currencies.

Its focus is on international money transfers and multi-currency spending, making it useful for frequent travellers, people who receive money from overseas, and those who regularly send money abroad.

Wise also offers local account details for receiving money in supported currencies, alongside its international debit card.

Features:

• Multi-currency account supporting

• International money transfers

• Debit card for spending and cash withdrawals

• Local account details for receiving money in supported currencies

• Mid-market exchange rate for currency conversion

• Rate alerts for tracking exchange rates

• Personal accounts for sending, spending and receiving money

Information in this section is based on Wise’s official website as of 28 Sep 2026.

2. BigPay

BigPay is particularly suited to Malaysians who want an everyday digital wallet with built-in international spending and money-transfer capabilities. Its strong connection to the AirAsia ecosystem also makes it a natural fit for frequent AirAsia travellers.

It’s less of a direct replacement for Revolut’s multi-currency account model, and more useful if you want a local wallet for everyday spending alongside selected cross-border features.

Features:

• Malaysian digital wallet with a prepaid card

• International money transfers

• AirAsia MOVE integration

• Card for overseas spending

• In-app currency exchange

• Bill payments and other everyday wallet services

• Available to Malaysian users

Information in this section is based on BigPay’s official website as of 28 Sep 2026.

3. Touch 'n Go eWallet (GOremit)

Touch 'n Go eWallet is best suited to Malaysians who already use the app for everyday payments and want international transfers in the same place. Its remittance service is particularly useful for sending money to family or recipients overseas, while the wider eWallet also covers everyday payments, travel and other financial services. This makes it more of an all-purpose local wallet than a direct replacement for Revolut's multi-currency account.

Features:

• International remittance to 50+ countries

• Bank account, cash pickup and supported e-wallet payout options

• Touch 'n Go Visa Card for overseas spending and ATM withdrawals

• Overseas QR payments in 50+ countries

• Everyday payments, bills and transfers within Malaysia

• Travel bookings and other financial services through the TNG eWallet

• Regulated remittance service operated by TNG Digital Remittance

Information in this section is based on Touch ‘n Go’s official website as of 28 Sep 2026.

4. Merchantrade Money

Merchantrade Money is particularly suited to Malaysians who want a multi-currency travel card but prefer having access to physical branches and agents as well as an app.

It combines digital currency management with Merchantrade's established money services network, making it a useful option for frequent travellers and people who still deal with cash from time to time. It also supports overseas remittances, so the card and wallet are not limited to travel spending.

Features:

• Multi-currency prepaid Visa card and e-wallet

• Hold and exchange up to 20 foreign currencies

• Spend and withdraw cash overseas wherever Visa is accepted

• Lock in exchange rates before spending

• Top up through online banking, branches and participating agents

• Card-to-card transfers to friends and family

• Remittances to 200+ countries and territories

Information in this section is based on Merchantrade Money’s official website as of 28 Sep 2026.

5. Instarem

Instarem is best suited to people whose main reason for using Revolut is sending money internationally. It focuses specifically on cross-border transfers rather than trying to replicate Revolut's broader combination of spending, cards and multi-currency account features.

For Malaysians who regularly send money to family, friends, overseas accounts or for education expenses, its transfer-focused approach keeps the service relatively straightforward. Instarem also offers real-time transfer tracking and rewards through InstaPoints.

Features:

• International transfers from Malaysia to 60+ countries

• Transfers to personal bank accounts overseas

• Upfront display of exchange rates and applicable fees

• Real-time transfer tracking

• InstaPoints rewards on transfers

• Rate alerts

• FPX funding for Malaysian users

Information in this section is based on Instarem’s official website as of 28 Sep 2026.

6. MoneyMatch

MoneyMatch is best suited to Malaysians who primarily need to send money overseas rather than manage a multi-currency account or use a travel card.

Its personal service focuses on international remittances, with options that extend beyond standard bank transfers. It can be useful for sending money to family and friends overseas, particularly when the recipient needs a mobile wallet or cash pickup rather than a bank account.

Features:

• International transfers to 110+ countries

• Bank, mobile wallet and cash-pickup transfers

• Personal transfers through the MoneyMatch app

• Online e-KYC for Malaysian personal users

• Transfer tracking

• Web and mobile platforms

• Licensed Malaysian remittance provider

Information in this section is based on MoneyMatch’s official website as of 28 Sep 2026.

7. WorldRemit

WorldRemit is best suited to Malaysians who regularly send money overseas to family or friends and need flexibility in how recipients receive it. Its focus is international remittance rather than multi-currency spending, with several payout options available depending on the destination.

It also supports transfers from Malaysia through its local service and provides transfer tracking through its app.

Features:

• Send money from Malaysia to 130+ countries

• Bank transfer, cash pickup, mobile money and airtime top-up

• Pay for transfers by bank transfer or Malaysian-issued debit card

• Transfer tracking through the app

• Rate alerts for selected currencies

• Quick resend for repeat transfers

• Class B digital money remittance licence in Malaysia

Information in this section is based on WorldRemit’s official website as of 28 Sep 2026.

Revolut Business alternatives (for companies)

If you're a Malaysian business owner, the personal apps above aren't designed for business use. Most providers' terms restrict personal accounts to personal transactions, so they aren't suitable for paying suppliers, collecting payments from customers, or managing business funds.

Here’s a quick overview of the business alternatives available to Malaysian companies:

This information is based on publicly available information accessed on 28 Sep 2026. Information reflects Airwallex's own research and has not been independently verified.

1. Airwallex

Airwallex is a Malaysia-licensed business financial platform built specifically for companies that operate across borders.

With Airwallex, you can open Global Accounts in 20+ currencies with local account details, send transfers to 200+ countries, hold and convert currencies at competitive FX rates that save you up to 80% on FX fees, and issue multi-currency corporate cards for your team.

Everything sits inside one platform, with native integrations to Xero, QuickBooks, and NetSuite.

Airwallex Malaysia holds e-money issuance and Class A Money Services Business licences in Malaysia, in addition to its Class B MSB licence and Registered Merchant Acquirer status.

2. Payoneer

Payoneer is particularly useful for businesses that earn from international marketplaces or work with clients across multiple countries.

It is especially established among freelancers, agencies, eCommerce sellers and other businesses that need to consolidate income from platforms such as Amazon, Upwork, Fiverr and eBay.

It also supports direct client payments and international supplier or contractor payments, so it can work beyond marketplace income.

Features:

• Multi-currency receiving accounts with local account details

• Marketplace payouts from platforms including Amazon, eBay, Upwork and Fiverr

• Payment requests and payment links for direct clients

• Hold and convert funds in multiple currencies

• Withdraw funds to a local bank account

• Pay suppliers, contractors and other recipients internationally

• Payoneer Mastercard for business spending

Information in this section is based on Payoneer’s official website as of 28 Sep 2026.

3. Wise Business

Wise Business is a relevant option for businesses that operate in a country where Wise Business is supported, particularly those that regularly receive, hold and send money internationally.

However, it isn't currently available to businesses registered in Malaysia, so it isn't a direct option for a Malaysia-incorporated company. Malaysian businesses with an overseas entity in a supported market could consider Wise Business for that entity instead.

Features:

• Multi-currency business account in supported markets

• Hold and convert money in 40+ currencies

• Local account details for receiving money in supported currencies

• International business transfers

• Payments to suppliers and invoices

• Payroll payments in supported markets

• Wise Business debit card in selected countries

Information in this section is based on Wise’s official website as of 28 Sep 2026.

4. Traditional Malaysian banks (Maybank, CIMB, RHB)

Traditional Malaysian banks are worth considering if your business needs foreign-currency banking alongside more conventional business banking services.

Maybank, CIMB and RHB offer business accounts that support foreign currencies, while larger businesses can also access services such as trade finance and working-capital facilities.

This makes traditional banks particularly relevant for established businesses that want to keep their international banking and broader financing needs with the same institution.

Features:

• Foreign-currency and multi-currency business accounts

• Hold and manage multiple foreign currencies

• International transfers, including telegraphic transfers

• Business internet banking and account management

• Trade finance and related business banking services

• Working-capital and financing facilities

• Branch-based banking and in-person support

Information in this section is based on various banks’ official websites as of 28 Sep 2026.

Why Malaysian businesses choose Airwallex over Revolut

To reiterate: if you’re in Malaysia, you can’t use Revolut Business. Instead, use Airwallex, which  is a multi-currency fintech platform licensed to operate in Malaysia and built for businesses managing cross-border payments and operations.

Here’s what you get with Airwallex:

• Global Accounts in 20+ currencies: Open accounts in multiple currencies, with local account details for receiving payments. For example, US customers can pay your USD account via ACH and UK customers can pay your GBP account via Faster Payments.

• Competitive FX rates: Airwallex’s FX rate is from 0.4% to 0.6% above the interbank rate. Customers can save up to 80% on FX fees compared with traditional banks.

• Transfers to 200+ countries: Pay suppliers and contractors in 200+ countries. 94% of our transfers go through local rails with $0 transfer fees.

• Accounting integrations: Connect Airwallex with Xero, QuickBooks and NetSuite to sync transactions with your accounting workflow.

Frequently asked questions (FAQs)

How much does Revolut charge for ATM withdrawals in Malaysia?

Revolut isn't currently available to residents of Malaysia, so you can't open a Revolut account or get a Revolut card as a Malaysian resident. If you already have a Revolut card from a supported country, you can use it at Malaysian ATMs, but Revolut's withdrawal fees depend on your plan and the ATM operator may charge an additional fee.

Can I send money from Revolut to a Malaysian bank account?

Yes. Revolut supports MYR transfers to Malaysian bank accounts. You don't need to hold MYR before making the transfer, as Revolut can convert your existing balance when you send it. The app shows the applicable fees and estimated delivery time before you confirm the transfer. Depending on the transfer, intermediary or recipient-bank fees may also apply.

Can I open a Revolut account as a Malaysian living abroad?

Yes, provided you're legally resident in a country where Revolut supports account sign-ups. Malaysia is not currently on Revolut's supported-country list, but Singapore, the UK, Australia, Japan, New Zealand, the US and various European countries are. You'll need to provide the required identity and residency information for the country where you live.

Are there any Malaysian-built apps similar to Revolut?

There are several Malaysian alternatives, although they don't all offer the same combination of features as Revolut. BigPay combines an e-wallet, prepaid card and international transfer services, while Merchantrade Money offers a multi-currency wallet and prepaid Visa card alongside remittance services.

Does Revolut support DuitNow or FPX?

Revolut does not currently offer Malaysian domestic payment features such as DuitNow or FPX for Malaysian residents, because Malaysia is not a supported country for Revolut account sign-up. Revolut does, however, support MYR transfers to Malaysian bank accounts from accounts registered in supported countries.

Sources:

1. https://help.revolut.com/en-SG/help/profile-and-plan/profile-plan/verifying-identity/what-countries-are-supported/

2.  https://wise.com/my/

3.  https://www.bigpayme.com/pricing

4. https://www.tngdigital.com.my/gofinance/remittance/

5. https://mtradeasia.com/

6. https://www.instarem.com/en-my/

7. https://moneymatch.co/

8. https://www.worldremit.com/en

9. https://www.payoneer.com/smart-fx/, https://www.payoneer.com/send-payments/

10. https://wise.com/my/business/