Best digital business bank accounts in Malaysia (2026)

Key Takeaways:

• Malaysia has five BNM-licensed digital banks, but business banking is still limited: only GXBank has a fully live dedicated business account, and it is currently restricted to sole proprietors.

• If you run an Sdn Bhd, a partnership, or any business with cross-border needs, BNM digital banks likely won't cover everything you need yet — especially on multi-currency, international transfers, and expense management.

• 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. Some providers give you a fully app-based account you can open in minutes. Others still require a branch visit, an introducer, or a minimum deposit before you can get started.

This guide covers the digital-first business account options available to Malaysian businesses in 2026 — from BNM-licensed digital banks to fintech platforms — what each one offers, and where each one falls short.

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 BNM-licensed digital bank. Here’s what you need to know:

• These are full banks regulated by Bank Negara Malaysia under the Financial Services Act 2013 or the Islamic Financial Services Act 2013.

• They operate without physical branches, and they're 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 digital banks: GXBank, AEON Bank, Boost Bank, KAF Digital Bank, and Ryt Bank.

The second type is a licensed fintech platform. Here’s how these work:

• These providers aren't banks, but they're regulated by BNM — typically as licensed remittance businesses or payment institutions under the Money Services Business Act 2011.

• They can open accounts, process payments, and offer multi-currency tools, 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 BNM digital bank gives you deposit insurance and potentially access to credit. A fintech platform often gives you more on international payments, multi-currency accounts, and business tools. You can use either, or both.

The 5 BNM-licensed digital banks and what they offer businesses

All five digital banks hold licences from Bank Negara Malaysia and operate without physical branches. But their business banking offerings vary widely — and in some cases, don't exist yet.

Here’s a quick overview, followed by a closer look at each digital bank:

The information in this table has been reviewed to be accurate as of 6 April 2026.

GXBank — the only BNM digital bank with a live business account

GXBank is Malaysia's first licensed digital bank, backed by Grab and the Kuok Group. It's also currently the only one of the five with a fully live, dedicated business account you can open today.

The GXBank Biz Account earns 2.50% p.a. daily interest¹ — made up of a 1.0% p.a. base rate plus a 1.50% p.a. campaign bonus running from 1 April to 30 September 2026. There are no monthly fees, no minimum balance, and no transaction charges.

You apply entirely through the GXBank app using your MyKad and Business Registration Number (BRN), with no branch visit needed. DuitNow QR is supported, and you can schedule transfers in advance.

If you need working capital, the Biz FlexiLoan gives you a credit line of up to RM150,000², accessible through a bundle option when you open the account.

Worth knowing: The Biz Account is only available to SSM-registered sole proprietors. If your business is an Sdn Bhd, a partnership, or an LLP, you cannot apply.

AEON Bank — business account coming, but not live yet

AEON Bank, Malaysia's first Islamic digital bank, has a Business Current Account-i in the pipeline. Based on their official page, the account earns a promotional profit rate of 2.5% p.a.³ on your closing balance, and targets sole proprietors, partnerships, and SMEs.

It's Shariah-compliant by design, which makes it relevant for businesses operating under Islamic finance principles.

However, at the time of writing, the account is not yet open for applications. AEON Bank is still accepting expressions of interest rather than live sign-ups.

Worth knowing: Once live, the account will only be available to Shariah-compliant businesses. If your business involves activities like alcohol, gambling, or non-Shariah compliant products, you won't be eligible.

Boost Bank — business lending, not a business current account

Boost Bank, a joint venture between Axiata Group and RHB, has made its name on personal savings accounts and an integrated e-wallet experience. On the business side, it offers term loans and revolving credit facilities for SMEs, but it does not currently offer a dedicated business current account.

If you need SME financing and already use the Boost app, it's worth exploring. But if you're looking for a day-to-day operating account for your business, Boost Bank doesn't fill that role yet.

Worth knowing: Business lending products are available through the Boost app, but the core product remains personal-focused. Check eligibility requirements directly with Boost Bank before applying.

KAF Digital Bank — business banking listed as coming soon

KAF Digital Bank, Malaysia's second Islamic digital bank, launched its personal savings account in August 2025. Its own website lists a business account as "Akan Datang" — coming soon. No timeline or product details have been published.

KAF's consortium includes partners like Carsome, StoreHub, and MoneyMatch, which suggests a future focus on SME tools and embedded finance. But that's still ahead.

Ryt Bank — personal banking only for now

Ryt Bank, backed by YTL Corporation and Sea Group, launched in August 2025 with a focus on AI-powered personal banking. It has not announced any business banking products. For business owners, it's not a relevant option at this stage.

Fintech platforms offering digital business accounts in Malaysia

BNM 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:

Aspire has no official Malaysia page. Features above are based on their Singapore product page at aspireapp.com. The information in this table has been reviewed to be accurate as of 6 April 2026.

Airwallex

Airwallex is a global fintech platform regulated by BNM as a licensed remittance business in Malaysia. It's built for businesses that need to move money across borders without the cost and friction of traditional banking.

With Airwallex, you can open Global Accounts — local-currency accounts in 20+ currencies with local bank details in markets like the US, UK, Australia, and the EU. Customers pay you like a domestic transfer. You receive funds in their currency, hold them, and convert when the rate suits you.

Beyond accounts and transfers, Airwallex covers the operational side too: multi-currency corporate cards, expense management, bill pay with automatic sync to Xero, QuickBooks, and NetSuite, and DuitNow for local MYR payments. The account is free to open with no minimum deposit and no monthly fee. Application is fully online — no branch visit, no introducer.

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 a World Account, you can hold and receive funds in 20+ currencies⁴ including MYR, get paid via GIRO, DuitNow, or RTGS⁵, pay in 100+ currencies⁴, and connect to 130+ global marketplaces including Shopee, TikTok Shop, and Amazon⁴.

The World Card lets you spend in 16 currencies with 0% foreign transaction fees⁴. There's no minimum balance, no monthly fee, and account opening takes two to three working days⁵. Their direct integration with 1688.com lets you pay Chinese suppliers in CNH without a Chinese bank account.

Worth knowing: WorldFirst is particularly well-suited to eCommerce sellers managing multi-currency marketplace revenue. Businesses that also need expense management or accounting integrations may find Airwallex's fuller toolset a better fit.

Wallex

Wallex is a cross-border payments platform operated by M-DAQ Global, with a licensed local presence in Malaysia. It focuses on international payments and FX without the broader suite of expense, card, and billing tools.

You can pay in 47 currencies⁶, collect via virtual accounts in 36 currencies⁶, and hold up to 13 currencies in a multi-currency wallet⁶. Bulk payments of up to 200 beneficiaries can be processed in one transaction⁷, and a cash management feature earns up to 2.5% p.a. on funds in the wallet⁷.

Worth knowing: Wallex has no corporate cards, expense management, or accounting integrations. It works well as a focused cross-border payments tool, but may not suit the needs of those needing a broader platform.

Aspire

Aspire is a Singapore-headquartered fintech platform that Malaysian-incorporated businesses can join. Malaysia is explicitly listed in Aspire's account opening guide for companies outside Singapore, which sets out the documents you'll need to apply.

There is no dedicated Malaysia product page, but assuming features are consistent across markets, signing up for an Aspire account gives you multi-currency accounts, global payments, corporate cards, expense management, and accounting integrations — all from a single dashboard, with no account opening fee.

For startups and digital-first SMEs, the combination of cards, expense controls, and accounting sync in one platform is where it stands out.

How to choose the right digital business account in Malaysia

The right account depends on your business structure, transaction volume, and whether you trade internationally. Use these questions to narrow it down.

Is your business a sole proprietorship?

GXBank is the only BNM digital bank with a live business account — and it's only open to SSM-registered sole proprietors. If that's you and you primarily transact in MYR, GXBank is worth considering for its zero fees and daily interest. If you need more than MYR-only banking, pair it with a fintech platform.

Is your business an Sdn Bhd, partnership, or LLP?

No BNM digital bank currently accepts these entity types for a business account. Your options are traditional banks — covered in our guide to the 10 best business bank accounts in Malaysia — or a fintech platform like Airwallex, which accepts a wide range of entity types and is fully online.

Do you collect payments from overseas customers or pay foreign suppliers?

A fintech platform is almost certainly the better fit. BNM digital banks are MYR-only, and traditional bank FX markups add up quickly. Airwallex, WorldFirst, and Wallex all offer multi-currency accounts and competitive FX rates with no monthly fee.

Do you sell on global marketplaces like Shopee, Amazon, or TikTok Shop?

WorldFirst has direct integrations with 130+ marketplaces and is built around this use case. Airwallex also supports marketplace collections and goes further on expense management and accounting tools.

Do you need corporate cards and expense management for your team?

Airwallex and Aspire both offer this. Wallex and WorldFirst do not have expense management tools.

Do you need a Shariah-compliant account?

AEON Bank Biz is the only digital-first option — but it's still in pre-launch. For now, CIMB's Business Current Account-i remains the most established Shariah-compliant business account in Malaysia.

Why Malaysian businesses use Airwallex

BNM digital banks are a good starting point, especially for sole proprietors who want zero-fee MYR banking. But for most businesses, they're not the full picture. The moment you need to pay an overseas supplier, collect from an international customer, or manage team spending across currencies, you'll need something more.

Airwallex is built for exactly that. As a licensed fintech platform regulated by BNM, it gives Malaysian businesses multi-currency Global Accounts, international transfers to 200+ countries, multi-currency corporate cards, and expense management — all from one platform, with no monthly fee and no branch visit required.

One example close to home: Applecrumby, a Malaysian eco-friendly baby brand, saved approximately RM100 per international transaction after switching to Airwallex. They also successfully expanded across Asia two to three times faster than originally planned.

Whether you're running an Sdn Bhd that trades regionally, a startup managing payroll across borders, or a growing SME that's outgrown MYR-only banking, Airwallex gives you the tools to manage your money globally without piecing together multiple providers.

Frequently asked questions (FAQs)

How do I open a digital business bank account in Malaysia? 

For BNM-licensed digital banks, download the bank's app, verify your identity using MyKad, and Corppass or Singpass where required, and submit your business registration details. GXBank Biz, for example, can be opened entirely through the app using your MyKad and Business Registration Number in minutes. For fintech platforms like Airwallex, the process is fully online — submit your SSM documents and director IDs through the platform, and approval typically takes a few business days.

What is the best digital business bank account in Malaysia?

It depends on your business type and needs. For sole proprietors who transact primarily in MYR, GXBank Biz is currently the only BNM-licensed digital bank with a live business account. For Sdn Bhd companies or businesses with international payment needs, a fintech platform like Airwallex gives you multi-currency accounts, international transfers, and expense management without a branch visit.

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

Not through a BNM-licensed digital bank — all five are either consumer-focused or currently restrict business accounts to sole proprietors. Sdn Bhd companies can apply through traditional banks or licensed fintech platforms, most of which accept a wide range of entity types and offer fully online applications.

What is the difference between a digital bank and a fintech platform in Malaysia?

A digital bank holds a BNM banking licence, which means it can offer deposit insurance through PIDM and credit facilities like loans. A fintech platform is regulated differently — typically as a licensed remittance business or payment institution — and can offer accounts and transfers, but not PIDM protection or lending. Both operate entirely online.

Are digital business bank accounts in Malaysia safe?

Yes, if the provider is regulated by BNM. Licensed digital banks are subject to the same regulatory standards as traditional banks, and deposits are protected by PIDM up to RM250,000 per depositor. Licensed fintech platforms are also regulated by BNM, though they fall outside the PIDM deposit insurance scheme.

Do digital business accounts in Malaysia support DuitNow?

GXBank Biz supports DuitNow QR for receiving payments. Among fintech platforms, Airwallex supports DuitNow for both sending and receiving local MYR payments. Traditional banks universally support DuitNow Business, including for corporate transfers using a Business Registration Number as a payment proxy.

Can a non-Malaysian open a digital business account in Malaysia?

For BNM-licensed digital banks, eligibility is generally restricted to Malaysian citizens or permanent residents. Fintech platforms are more flexible — Airwallex, WorldFirst, and Wallex all support applications from businesses with foreign directors or shareholders, as long as the company is incorporated in Malaysia. Aspire also accepts Malaysian-incorporated companies with foreign directors.

Sources:

1.  https://gxbank.my/bizaccount

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

3.  https://www.worldfirst.com/my

4.  https://www.worldfirst.com/my/campaign/malaysia-ringgit-business-account

5.  https://www.wallex.asia/en-my/business-solutions

6.  https://www.wallex.asia

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 is licensed in Malaysia as a MSB Class B (remittance business only) licensee and is regulated by Bank Negara Malaysia (licence number 00318).