10 best international business bank accounts in Malaysia (2026 guide)

Key takeaways:

• Most Malaysian business current accounts only handle MYR — to send, receive, and hold foreign currencies efficiently, you need a dedicated international account, whether from a licensed bank or a fintech platform.

• Traditional bank foreign currency accounts are built for holding FX; fintech platforms are built for actively collecting, converting, and paying across borders.

• Airwallex lets Malaysian businesses collect funds like a local in 70 countries, convert at competitive FX rates that save you up to 80% on FX fees, and pay out to 200+ countries.

The best international business bank accounts in Malaysia fall into two categories: bank foreign currency accounts and fintech global accounts.

This guide covers ten providers — two fintech platforms and eight bank foreign currency accounts — and breaks down what each one does well, what it doesn't, and which type of business it suits.

If you're looking for a general MYR operating account rather than an international one, see our guide to the best business bank accounts in Malaysia.

What is an international business bank account?

There are two types of international business accounts available to Malaysian businesses, and they work very differently.

Type 1: Bank foreign currency account

You can open a bank foreign currency account at a licensed Malaysian bank and use it to hold, store, and occasionally convert foreign currencies. It's useful if you need to hedge against exchange rate movements or park funds in USD or EUR before making a payment.

What it doesn't do well is help you collect from overseas customers quickly or pay suppliers across borders at low cost. Most bank FX accounts rely on SWIFT transfers, which are slower and carry intermediary fees.

Type 2: Fintech global account

With global accounts, you can receive payments from overseas customers via local payment rails, convert funds at competitive rates, and pay out to international suppliers — all from one platform. Setup is fully digital, and there's no minimum deposit.

Not sure whether you should use a bank foreign currency account or a fintech global account? The right choice depends on whether your main need is holding foreign currency or actively moving it.

The best international business accounts in Malaysia

These ten accounts cover the full range of options available to Malaysian businesses, from fintech platforms built for active cross-border operations to bank foreign currency accounts designed for holding and hedging.

Here’s a quick overview, before we go into the individual providers:

1. Airwallex

Airwallex is the most complete option for Malaysian businesses that trade internationally. Its Global Accounts let you collect funds like a local in 70 countries — your overseas customer makes a domestic transfer in their own currency, and you receive it without SWIFT delays or intermediary deductions. You can then convert at competitive FX rates that let you save up to 80% on FX fees, and pay out to suppliers in 200+ countries.

Airwallex also offers corporate cards with no international transaction fees and integrates with Xero, QuickBooks, and NetSuite. It is regulated by Bank Negara Malaysia as a licensed money services business.

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

2. WorldFirst

WorldFirst's World Account suits eCommerce sellers and businesses with China supply chains. You can hold and transact in 20+ currencies with no monthly fee and no minimum deposit. It also supports direct payments to 1688 and Taobao suppliers — a meaningful advantage if China sourcing is part of your operations.

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

3. RHB Multi-Currency Account

RHB offers the broadest currency range among Malaysian banks at 33 currencies, including CNH — useful for businesses trading with China. A linked multi-currency debit card is available, which sets it apart from most bank FX accounts. Companies must maintain a minimum average call deposit of US$5,000.

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

4. CIMB Foreign Currency Current Account-i

CIMB's Foreign Currency Current Account-i is the Shariah-compliant option for businesses that need a bank FX account under Islamic finance principles. It supports 13 currencies with a USD500 minimum deposit. Transfers are electronic only — no debit card or cheque book is issued.

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

5. Hong Leong Bank Foreign Currency Account

Hong Leong's foreign currency account supports 10 currencies including CNH, making it a functional option for businesses with China-linked trade. There is no debit card or ATM access, and a RM30 fee applies every six months regardless of account activity — it works best as a currency holding account rather than an active payment tool.

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

6. Public Bank Foreign Currency Current Account

Public Bank offers two options: the PB FCY CA (one currency per account) and the PB MFCA (up to 12 currencies in a single account). Both require a minimum initial deposit of US$1,000 and are open to corporate entities including sole proprietorships and Sdn Bhds. A RM30 annual maintenance fee applies, and outgoing transfers cost US$15 per transaction.

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

7. Maybank Master Foreign Currency Account

Maybank lists the Master Foreign Currency Account under its business banking deposits, but the business-specific product page is not currently available online. Assuming it is similar to the personal banking MFCA product, the account supports 16 currencies including CNY, with a USD1,000 minimum deposit.

Online transfers via Maybank2u carry a fee equivalent to USD4 per transfer, are capped at RM50,000 per transaction, and are only processed Monday–Friday, 10am–6pm. However, be sure to confirm current terms and business eligibility directly with Maybank before applying.

The information in this table has been reviewed to be accurate as of 6 April 2026. Note: this is based on Maybank's personal banking MFCA product page, as the business-specific product page is not currently available online.

8. UOB Trade & Investment Foreign Currency Account

UOB's foreign currency call account supports 8 currencies for conventional accounts and is open to SMEs, sole proprietors, and companies. The main limitation is a high average monthly balance requirement of USD50,000 to earn interest — a threshold most SMEs are unlikely to meet. An Islamic version supporting 12 currencies including CNY is also available.

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

9. Standard Chartered Foreign Currency Account

Standard Chartered offers two options for business customers: a Call Deposit (no lock-in, flexible access) and a Fixed Deposit (fixed term from one week to 12 months, with higher yield). It supports 10 currencies and is managed through a dedicated relationship manager. Minimum deposit details are not published online — contact the bank directly.

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

10. OCBC Multi Currency Account

OCBC's Multi Currency Account is open to all SSM-registered businesses with no setup fee. It supports 10 currencies including CNY, with five currencies (AUD, CNY, EUR, SGD, USD) enabled automatically at sign-up. Account management is handled via the OCBC Velocity business banking platform.

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

What about HSBC?

HSBC offers foreign currency and multi-currency accounts for businesses in Malaysia, including a Foreign Currency Current Account and the HSBC Global Wallet.

However, HSBC business banking in Malaysia is only available to companies with an annual group turnover exceeding RM225 million — making it suited to large corporates rather than SMEs.

What to look for in an international business account

The right account depends on how your business actually moves money. Here are the five factors worth weighing before you decide.

1. How you receive international payments

This is the most important question — and the one most businesses overlook. If you collect via SWIFT, your customer's bank sends a wire that passes through one or more intermediary banks before reaching you. Each one may deduct a fee, and the transfer can take three to five days.

With local collection (available through Airwallex and WorldFirst), your overseas customer makes a domestic transfer in their own currency, and you receive it the way a local business would — faster and without intermediary deductions. If you regularly collect from overseas customers, this distinction alone can save your business significant money each year.

2. Which currencies your business actually needs

Malaysia's top trading partners are China, Singapore, the United States, Japan, and the European Union — and each requires a different currency.

Paying China suppliers means you need CNH or CNY, which not all providers support. Collecting from Singapore customers means SGD. US and European customers typically pay in USD or EUR. Japanese suppliers and buyers transact in JPY.

Map your own suppliers and customers to their currencies before comparing accounts. Check currency support specifically, not just the total number of currencies an account advertises.

3. How FX fees are charged

Banks embed FX markups in the exchange rate — they don't advertise them separately, but they are real. Fintech platforms typically charge a transparent percentage fee instead.

To illustrate: a 2% markup versus a 0.5% fee on RM500,000 in annual FX payments is a difference of RM7,500 per year. Always check the rate you are actually getting, not just the listed transfer fee.

4. Minimum deposits and account upkeep costs

Traditional bank foreign currency accounts require minimum deposits ranging from US$500 to US$5,000 depending on the provider, plus ongoing fees for dormant accounts or transfers.

Fintech platforms require no minimum deposit and charge nothing for holding funds. For businesses just starting to trade internationally, that lower barrier matters.

5. Account opening process

Bank foreign currency accounts typically require branch visits and certified SSM documents — more friction for companies with foreign directors or shareholders.

Fintech platforms including Airwallex and WorldFirst offer fully digital onboarding. Airwallex's application is done entirely online and is regulated by BNM as a licensed money services business.

6. Islamic or conventional banking

If Shariah compliance is important to your business, you'll need to choose a provider that offers an Islamic account structure. Among the banks in this guide, CIMB's Foreign Currency Current Account-i and UOB's Islamic foreign currency account are both Shariah-compliant options.

Fintech platforms including Airwallex and WorldFirst do not currently offer Islamic account structures — factor this in if your business operates under Islamic finance principles.

7. PIDM deposit protection

Deposits held at BNM-licensed banks in Malaysia are protected by Perbadanan Insurans Deposit Malaysia (PIDM) up to RM250,000 per depositor per bank. This applies to all eight bank foreign currency accounts in this guide. Fintech platforms are not covered by PIDM.

Why Malaysian businesses choose Airwallex for international payments

Most bank foreign currency accounts are built for holding currencies — not for the day-to-day reality of running a business that trades across borders. Airwallex is built for the latter.

Here’s what you can do with Airwallex:

Collect from overseas customers like a local business

Airwallex Global Accounts lets you collect funds like a local in 70 countries, which means your overseas customers can pay you the same way they'd pay any local supplier. No SWIFT wires, no intermediary bank deductions, no multi-day waits.

You receive funds in the currency they were sent, and they sit in your Airwallex account ready to convert or pay out.

Pay suppliers in 200+ countries

Once funds are in your account, you can pay international suppliers directly in their preferred currency. Airwallex supports payouts to 200+ countries, with free transfers to 120+ of these countries via local rails.

Save on FX fees

Airwallex's FX rates are significantly more competitive than standard bank transfer rates. With Airwallex, you can save up to 80% on FX fees compared to traditional banks.

Manage team spending across currencies

Airwallex corporate cards work in multiple currencies with no international transaction fees — useful if your team travels, pays for overseas software subscriptions, or manages ad spend across different markets. You can issue cards to team members and set spending limits directly from your dashboard.

Built for growing businesses, regulated in Malaysia

Airwallex integrates directly with Xero, QuickBooks, and NetSuite — so your international transactions feed into your accounting software without manual reconciliation. It is regulated by Bank Negara Malaysia as a licensed money services business, giving you the same regulatory assurance as a licensed financial institution.

Frequently asked questions (FAQs)

What is the best international business bank account in Malaysia?

The best international business bank account in Malaysia depends on how your business trades. If you regularly collect from overseas customers or pay international suppliers, a fintech platform like Airwallex gives you more flexibility than a traditional bank foreign currency account. If you mainly need to hold or hedge a specific currency, a bank FX account from a licensed Malaysian bank may be sufficient.

Can a Malaysian Sdn Bhd hold foreign currencies in its business account?

Yes. Malaysian Sdn Bhds can open foreign currency accounts at licensed local and international banks, or use fintech platforms that support multi-currency holding. Most bank foreign currency accounts require an initial deposit in the foreign currency of your choice, and some have minimum balance requirements.

What is the difference between a foreign currency account and a multi-currency account?

A foreign currency account typically holds one foreign currency per account. A multi-currency account lets you hold several currencies within a single account — switching or converting between them as needed. Some Malaysian banks offer both options, as do fintech platforms.

Do I need a separate account for international payments, or can I use my MYR current account?

Your MYR current account can send and receive international payments via SWIFT, but it is not designed for cross-border operations. You will likely pay higher FX markups, face slower transfer times, and have no way to hold foreign currency balances. A dedicated international account — whether a bank FX account or a fintech platform — gives you more control and typically lower costs.

Is Wise Business available in Malaysia?

No. Wise Business is not currently available in Malaysia. Wise's own website confirms this. Malaysian businesses looking for a multi-currency business account can consider the options covered in this guide instead.

Are fintech platforms like Airwallex regulated in Malaysia?

Yes. Airwallex is regulated by Bank Negara Malaysia as a licensed money services business. This means it operates under BNM's regulatory framework, the same authority that oversees licensed banks and financial institutions in Malaysia.

Sources:

1. worldfirst.com/my/pricing/

2. rhbgroup.com/business/sme-banking/deposits/multi-currency-account

3. cimb.com.my/en/business-banking/accounts/foreign-currency-current-account-i.html

4. hlb.com.my/en/business-banking/products-and-services/deposits/foreign-currency/foreign-currency-account.html

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

6. maybank2u.com.my/maybank2u/malaysia/en/personal/accounts/current/mfca.page

7. uob.com.my/business/cash/cash_management_fca.html

8. sc.com/my/business-banking/yield-enhancing/foreign-currency-term-deposits/

9. ocbc.com.my/business-banking/smes/accounts/multi-currency-account

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).