Airwallex Global Accounts are now available in Malaysia: What this means for your business

Key takeaways:

• Airwallex has received full regulatory approval from Bank Negara Malaysia (BNM), including e-money issuance and Class A Money Services Business licences.

• Malaysian businesses can now open Global Accounts, hold multiple currencies, and manage international payments — all from one platform.

• If you're an existing Airwallex customer in Malaysia, you already have access to your wallet and Global Accounts.

If you're a Malaysian business that invoices in USD or IDR, you've probably dealt with slow transfers, opaque FX rates, and the headache of juggling multiple bank accounts just to get paid.

Until recently, Airwallex in Malaysia was primarily focused on sending money overseas. You could make international transfers and payments — but there was no local wallet, no way to hold foreign currency balances, and no ability to receive payments like a local in those currencies.

That's changed. Airwallex has now received full regulatory approval from Bank Negara Malaysia, including an e-money issuance licence and a Class A Money Services Business licence. This is the final step that unlocks a full suite of financial tools for Malaysian businesses.

You can now manage and move money globally from one platform, while staying fully within BNM rules.

What is an Airwallex Global Account?

A Global Account gives your business local bank details in foreign markets, so overseas clients can pay you the same way they'd pay anyone in their own country.

Here's a simple example: instead of asking your US client to do an international wire transfer to your MYR account, you share a USD account number and routing details. They make what looks like a domestic transfer on their end. The money arrives in your Airwallex wallet in USD, and you decide when and whether to convert it.

Traditional Malaysian foreign currency accounts work differently. Opening one often requires a branch visit, incoming funds are typically converted automatically at the bank's rate, and there's no way to actually receive payments as if you had a local account in those markets. Integrations with invoicing or accounting tools are limited, if they exist at all.

What's new for Malaysian businesses

The difference is straightforward.

Before this launch:

You could use Airwallex in Malaysia mainly to send money overseas — remittance-style transfers and international payouts. There was no local wallet, no ability to hold foreign currency balances, and no way to receive payments in foreign currencies as if you had a local account in those markets.

Now:

• Hold MYR and multiple foreign currencies in one wallet.

• Open domestic and foreign currency accounts in 21 countries and collect funds like a local in 70 countries. 

• Convert at competitive FX rates that let you save up to 80% on FX fees

• Pay out to 200+ countries, with 93% of transfers settling the same day.

• Issue Corporate Cards for your team, manage expenses, automate invoicing, and connect your accounting tools — all from the same platform.

With Airwallex, you have fewer banking relationships to manage, less reconciliation work, and less FX leakage every time money crosses a border.

Already an Airwallex customer in Malaysia? You don't need to do anything. Your wallet and Global Accounts are already available in your dashboard.

What this looks like for your business

Exporters and manufacturers

You're invoicing overseas buyers in USD or EUR, but receiving into a MYR account means you're converting every payment — often at a poor rate, on someone else's timeline.

With a Global Account, you hold the foreign currency balance, convert when it makes sense for your margins, and pay local suppliers in MYR directly from the same platform.

Agencies and tech companies billing overseas clients

If your clients are in Australia, the UK, or the US, asking them to do an international wire transfer creates friction — and it’s often more expensive. Give them local bank details in their currency. They transfer like it's local (meaning no SWIFT fees); you receive into your Airwallex wallet and convert when you're ready.

eCommerce and marketplace sellers

Selling on Shopify, Amazon, or other international platforms? Payouts often settle in USD or GBP. Instead of triggering an automatic conversion every cycle, you can receive those payouts into a Global Account, hold them, and deploy the funds for overseas supplier payments or ad spend, without double conversions.

Businesses with overseas teams and subscriptions

Paying for software subscriptions, contractors, or a small team in another country in MYR adds unnecessary FX markup on every transaction. With Airwallex, you hold the relevant foreign currency and spend directly from that balance — whether it's paying a freelancer in IDR or renewing a USD SaaS tool.

How this compares to a traditional bank account

Airwallex is not a bank. But for businesses that operate across borders, it does things traditional bank accounts in Malaysia typically don't:

The information in this table has been reviewed to be accurate as of 26 March 2026.

Licensing and security

Airwallex holds e-money issuance and Class A Money Services Business licences from Bank Negara Malaysia, in addition to our earlier Class B MSB licence and Registered Merchant Acquirer status. These approvals reflect deepened regulatory trust from Malaysia's central bank.

Your funds are held in segregated accounts with leading banks — separate from Airwallex's own operating funds — in line with BNM requirements.

How to get started with Airwallex

Getting set up in Malaysia is easy:

1. Create your Airwallex account online.

2. Submit your Malaysian business documents, including your SSM Certificate of Incorporation, director identification, and proof of business address.

3. Get approved (typically within a few business days.)

4. Open your Global Accounts from your dashboard, in the currencies that match where your clients and suppliers are.

5. Share your account details or connect your platforms. Add your new local bank details to your invoices, link to Shopify or your accounting software, and start receiving.

Sources:

1. https://www.airwallex.com/my

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.