Standard Chartered Multi-Currency Account in Malaysia (2026)

Key Takeaways:

• Standard Chartered Malaysia doesn't offer a single product called a "multi-currency account". Instead, it offers separate Foreign Currency Deposit products that you can choose from.

• These products are built for holding, hedging, or earning interest on foreign currencies, not for active multi-currency business operations like collecting from overseas customers or paying suppliers.

• For Malaysian businesses that need a true multi-currency account, Airwallex lets you hold 20+ currencies, collect like a local in 70 countries, and transfer to 200+ countries.

If you're searching for a Standard Chartered multi-currency account in Malaysia, the first thing to know is that it doesn't exist as a single product. Unlike other banks, Standard Chartered Malaysia doesn't sell one account that holds multiple foreign currencies in one place.

What it does offer is a set of separate Foreign Currency Deposit products: a savings account for flexible access, a fixed deposit for higher yield, and a term deposit for businesses.

This guide breaks down each of those products — what they cost, how they work, and who they suit. We'll also look at what to use instead if you actually need a true multi-currency account that handles overseas collection, supplier payments, and FX in one place.

Does Standard Chartered offer a multi-currency account in Malaysia?

No, not in the way many readers expect. Standard Chartered Malaysia does not sell a single product that lets you hold and switch between several foreign currencies in one account.

Instead, it offers a set of separate Foreign Currency Deposit products — each one designed to hold a single currency at a time.

There are three main products available to Malaysian customers:

• Foreign Currency Savings Account — flexible access, up to 11 major currencies¹, with a minimum deposit of US$1,000 or equivalent¹.

• Foreign Currency Fixed Deposit — higher yield in exchange for a fixed tenure of 1 week to 12 months¹, with a minimum deposit of US$10,000 or equivalent¹.

• Foreign Currency Term Deposits (business) — Call Deposits and Fixed Deposits in 10 major currencies², managed through a dedicated relationship manager.

Standard Chartered Malaysia also runs LiveFX, a real-time FX conversion platform — but that's a trading tool, not an account. Since this guide is focused on multi-currency accounts, we won't cover it here.

Standard Chartered foreign currency products in Malaysia

Here's how the Standard Chartered Malaysia foreign currency products compare side by side:

The information in this table has been reviewed to be accurate as of 11 May 2026.

A few things worth knowing before you read on:

• All products are protected by Perbadanan Insurans Deposit Malaysia (PIDM) up to RM 250,000 per depositor² — the same deposit insurance that applies to standard ringgit accounts at licensed Malaysian banks.

• None of these products comes with a debit card. Withdrawals and payments happen by telegraphic transfer, bank draft, or conversion to a ringgit account¹.

• All products hold one currency per account. If you want to hold three foreign currencies, you'd need to open three separate accounts.

We’ll now go into more detail about each of these accounts.

Personal: Standard Chartered Foreign Currency Savings Account

The Foreign Currency Savings Account is Standard Chartered Malaysia's most flexible foreign currency product. It's designed for customers with longer-term currency needs — paying overseas school fees, saving for an international purchase, or holding assets across currencies.

How it works¹:

• Currencies: 11 major currencies including USD, GBP, AUD, and SGD

• Minimum deposit: US$1,000 or equivalent

• Access: Flexible top-ups and withdrawals

• Withdrawals: Telegraphic transfer, bank draft, or conversion to a ringgit account

• Eligibility: Open to residents and non-residents

• Application: Branch visit with MyKad or passport

The information in this table has been reviewed to be accurate as of 11 May 2026.

Personal: Standard Chartered Foreign Currency Fixed Deposit

The Foreign Currency Fixed Deposit is Standard Chartered Malaysia's higher-yield option for customers who can lock funds away for a set period. You commit your money for a chosen tenure in exchange for a higher interest rate than the savings account offers.

To open one, you need to first hold a Foreign Currency Savings Account with the bank¹.

How it works¹:

• Currencies: 11 major currencies including USD, GBP, AUD, and SGD

• Minimum deposit: US$10,000 or equivalent

• Tenure: Choice of fixed terms from 1 week to 12 months

• Promotional rates (until 31 May 2026): 4.50% p.a. on AUD, 4.00% p.a. on GBP, 3.80% p.a. on USD, and 1.10% p.a. on SGD for 12-month deposits with a minimum of 50,000 in foreign currency fresh funds

• Early withdrawal: No penalty charge, but partial upliftment is not allowed and no interest is paid on premature withdrawal

• Application: Branch visit, alongside or after opening the FCY Savings Account

The information in this table has been reviewed to be accurate as of 11 May 2026.

Business: Standard Chartered Foreign Currency Term Deposits

Standard Chartered's business foreign currency products are designed for SMEs that want to hold or earn interest on foreign currency balances — not for businesses actively collecting payments from overseas customers or paying foreign suppliers.

You can choose between Foreign Currency Call Deposits (no lock-in, flexible access) and Foreign Currency Fixed Deposits (1 week to 12 months, higher interest), or invest in both. The product is managed through a dedicated relationship manager rather than self-serve digital channels.

How it works²:

• Currencies: 10 major currencies including USD, GBP, AUD, SGD, EUR, HKD, JPY, CAD, CHF, and NZD

• Two product options: Call Deposits (no lock-in) and Fixed Deposits (1 week to 12 months)

• Eligibility: Existing SC clients and new clients applying for an account

• Service model: Dedicated relationship manager, supported by client service and FX experts

• Support: Dedicated business contact centre at 1300 888 111

• Deposit protection: PIDM-protected up to RM250,000 per depositor

• Application: Branch-based — speak to a relationship manager to start

The information in this table has been reviewed to be accurate as of 11 May 2026.

Why Standard Chartered's FCY products aren't true multi-currency accounts

Here's the most important thing to understand if you're comparing options: Standard Chartered Malaysia's foreign currency products hold one currency per account.

The bank lists 11 currency options for personal customers and 10 for business customers — but that's the menu of currencies you can choose from. You can only hold one of them in any given account. If you want to hold USD, EUR, and SGD, for example, you'll have to open three separate accounts.

This is fundamentally different from a true multi-currency account, where you hold and switch between several currencies inside a single account.

Several Malaysian banks and fintech platforms offer true mutli-currency accounts, for example:

The information in this table has been reviewed to be accurate as of 11 May 2026.

For the full breakdown of multi-currency options for Malaysian businesses, see our guide to the 10 best international business bank accounts in Malaysia.

Why Malaysian businesses choose Airwallex over Standard Chartered

For businesses, Standard Chartered's foreign currency products work well if you want to hold or earn yield on a foreign currency balance.

But most Malaysian businesses need more than that. If you're paying overseas suppliers every month, collecting from international customers, or managing FX across multiple markets, a single-currency deposit product won't cut it. You need a true multi-currency account built for active cross-border operations.

That's where Airwallex comes in. Here’s what you get with us:

Hold and switch between 20+ currencies in one account

Airwallex Global Accounts let you hold and convert between 20+ currencies — including USD, GBP, EUR, AUD, SGD, HKD, CNY, and CAD — all from a single account. No need to open a new account for each currency you transact in.

Collect like a local in 70 countries

Airwallex gives you local-currency account details in markets like the US, UK, Australia, and the EU. Your overseas customers pay you the way they'd pay any local account — no SWIFT delays, no intermediary deductions, no multi-day waits.

Save up to 80% on FX fees

Airwallex converts currencies at competitive rates that are well below the margins most Malaysian banks charge on international transfers. Customers save up to 80% on FX fees compared to traditional banks.

Pay suppliers in 200+ countries with batch transfers

Send payments to suppliers, contractors, or staff in 200+ countries. Batch transfers let you pay up to 1,000 recipients in a single action — each in their local currency, routed via the fastest available rail. 93% of transfers made via Airwallex arrive on the same working day.

Issue multi-currency corporate cards for your team

With Airwallex, you can issue virtual and physical corporate cards instantly. Your team can spend in USD on Meta, Google, or TikTok ads — or in EUR on European software subscriptions — directly from your held balances, with no foreign transaction fees.

Regulated by Bank Negara Malaysia

Airwallex (Malaysia) Sdn Bhd is regulated by Bank Negara Malaysia as a licensed remittance business under the Money Services Business Act 2011. You can verify the licence directly on the BNM website.

Frequently asked questions (FAQs)

Does Standard Chartered have a multi-currency account in Malaysia?

No — not in the way the term is usually understood. Standard Chartered Malaysia offers Foreign Currency Savings Accounts, Foreign Currency Fixed Deposits, and Foreign Currency Term Deposits for businesses. Each holds one currency per account. If you want a single account that holds multiple currencies, you'll need to look at a different provider.

What is Standard Chartered LiveFX?

LiveFX is Standard Chartered Malaysia's real-time FX conversion platform — not an account. It lets you monitor live currency rates and book conversions through the SC Mobile app or online banking³. Access is tied to specific Islamic banking products (JumpStart Savings Account-i or Wealth $aver-i)³, so it's not available to all SC customers.

Does Standard Chartered Singapore have a multi-currency account?

Yes — Standard Chartered Singapore offers a multi-currency feature on its Bonus$aver and Wealth $aver accounts, supporting up to 13 foreign currencies in one account⁶. This is a Singapore product and is not available to Malaysian residents.

What's the minimum deposit for a Standard Chartered foreign currency account in Malaysia?

US$1,000 or equivalent for a Foreign Currency Savings Account, and US$10,000 or equivalent for a Foreign Currency Fixed Deposit¹. To open a Fixed Deposit, you'll first need to hold a Foreign Currency Savings Account¹. For business Foreign Currency Term Deposits, minimum amounts aren't published online — you'll need to check with a relationship manager².

Can non-residents open a Standard Chartered foreign currency account in Malaysia?

Yes. Standard Chartered Malaysia's Foreign Currency Deposit accounts are open to both residents and non-residents¹. You'll need your MyKad or passport and the minimum opening deposit, and the application is done at a branch¹.

Are Standard Chartered foreign currency accounts protected by PIDM?

Yes. Standard Chartered Malaysia is a PIDM member bank, and its Foreign Currency Deposits — both personal (Savings and Fixed Deposit) and business (Term Deposits) — are protected by PIDM up to RM250,000 per depositor¹.

Sources:

1.  https://www.sc.com/my/investments/foreign-currency-deposits/

2. https://www.sc.com/my/business-banking/yield-enhancing/foreign-currency-term-deposits/

3.  https://www.sc.com/my/investments/livefx/

4. https://www.rhbgroup.com/personal/deposits/multi-currency-account/overview/index.html

5. https://www.cimb.com.my/en/business/business-day-to-day/deposit-investments/current-account/multi-currency-account.html

6.  https://www.sc.com/sg/save/mca/

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.