Best bank in Malaysia for global businesses [2027]

Global businesses need Malaysian banks that support both local operations and cross-border payments. Map out the best banks in Malaysia and see how their business accounts compare

Key takeaways

• The Malaysian banking sector includes local commercial banks, foreign-controlled banks, international banks, digital banks and Islamic-first institutions
• Business banking options range from current accounts and foreign currency accounts to digital banking and trade finance services
• The World Account is a multi-currency account from WorldFirst that can work alongside a Malaysian bank account for cross-border payments

Malaysia has about 27 commercial banks, 16 Islamic banks and 10 investment banks regulated by Bank Negara Malaysia. These banks support businesses with everyday transactions, but their foreign currency services vary, with not all offering the ability to receive, hold, send and convert multiple currencies within one account.

This guide covers 12 banks operating in Malaysia and outlines their business account options, digital banking services, Islamic banking availability and relevant features for businesses with international operations. It also explores a multi-currency account by WorldFirst and how it can be used for international payments.

Understanding the Malaysian banking landscape

• Regulatory framework: All banks in Malaysia are regulated by Bank Negara Malaysia (BNM) under the Financial Services Act 2013 and the Islamic Financial Services Act 2013
• Deposit protection: Eligible bank deposits are protected by Perbadanan Insurans Deposit Malaysia (PIDM) up to the applicable limits
• Bank categories: Local commercial banks are Malaysian-incorporated banks serving domestic banking, payments and financing needs, while foreign-controlled banks are locally incorporated but owned by banking groups based overseas. International banks are foreign banks operating in Malaysia, often providing cross-border payments, foreign exchange and trade finance, while digital banks deliver banking services primarily through digital channels
• Islamic banks and Islamic banking windows: These are banking services that follow Shariah principles. They may be offered by dedicated Islamic banks or through separate Islamic subsidiaries or divisions within conventional banks

What to look for in a Malaysian bank for global businesses

• Business account variants: Check whether the bank supports your business structure, as eligibility and requirements can vary by entity type and ownership
• Foreign currency support: Check the currencies available and whether the account supports the receiving, holding and sending transactions your business needs
• International transfer capabilities: Compare available payment rails, transfer charges, processing times and foreign exchange arrangements
• Digital banking platforms: Look for features such as international transfers, payment approvals, bulk payments, payroll and account access
• Branch network: Consider branch access if your business needs cash deposits, in-person verification, relationship support and more
• Islamic banking availability: Check whether Shariah-compliant accounts and banking services are available if required
• Trade finance: Importers and exporters may need facilities such as letters of credit, guarantees and other trade-related products
• Regulatory oversight: Check BNM regulation and whether the specific deposit product is eligible for PIDM protection

Top banks in Malaysia for global businesses

Comparison of top banks in Malaysia for global businesses

1. Maybank

Maybank is a Malaysian banking group with over 400 branches in Malaysia.¹  Maybank business banking services include conventional and Islamic accounts, foreign currency products, financing, trade services and digital banking through Maybank2u Biz and other business platforms.² Maybank is Malaysia’s largest bank by assets and branch network.¹

Business account offerings

• SME First Account: A business current account for SMEs with no monthly fee, unlimited withdrawals and M2U/M2U Biz online banking features³
• Current Account-i: A Shariah-compliant business current account based on Commodity Murabahah, with M2U Biz/M2E access and business banking features⁴
• Master Foreign Currency Account-i: An Islamic foreign currency account available in more than 10 major currencies, including USD, EUR and more⁵
• Corporate Current Account: A current account designed for corporate businesses, with digital banking and overdraft facilities available⁶

2. CIMB

CIMB is a Malaysian banking group with a presence across 12 countries including Singapore, Indonesia and more.^7,8 Its Malaysian business banking services include current accounts, Islamic business accounts, foreign currency banking and digital CIMB banking through BizChannel@CIMB.^9,10

Business account offerings

• Business Current Account: Available to sole proprietorships, partnerships, LLPs, Sdn Bhd and Berhad entities, with CIMB OCTO Biz digital banking¹¹
• Business Current Account-i: A Shariah-compliant business current account with online application options and CIMB OCTO Biz access¹²
• Foreign Currency Current Account: Supports up to 13 foreign currencies and foreign telegraphic transfers, demand drafts and transfers to or from Ringgit accounts¹³

3. UOB

UOB Malaysia is part of Singapore-headquartered UOB and has operated in Malaysia since 1951 with 400+ branches across 19 markets.^14,15 Its business banking services include current accounts, foreign currency accounts, digital banking through UOB Infinity and services covering cash, trade and regional business activity.^14,16

Business account offerings

• UOB Business Current Account: A business account for sole proprietors, partnerships, private limited companies, professional practices, associations and societies¹⁷
• UOB BizCA+: An SME current account with DuitNow, IBG and RENTAS services and UOB Infinity/UOB SME digital access¹⁸
• Foreign Currency Account: Accepts major currencies including USD, AUD, NZD, GBP, EUR, HKD, SGD and JPY¹⁹
• Foreign Currency Account-i: A Shariah-compliant foreign currency account supporting multiple major currencies²⁰

4. OCBC

OCBC Malaysia is a subsidiary of Singapore-based OCBC and has operated in Malaysia since 1932.²¹ It has 38 nationwide branches in Malaysia and over 400 branches across 19 operative countries.^22,23 It also operates OCBC Al-Amin, its wholly owned Islamic banking subsidiary, offering Shariah-compliant business products.²⁴

Business account offerings

• OCBC eBiz Account: A business account with online application, an initial deposit of RM500 and digital banking tools²⁵
• Business Access and Business Signature: Business bank accounts for SMEs and growing businesses with digital banking and payment services²⁶
• Multi-Currency Account: Allows businesses to receive and pay in up to 10 currencies through OCBC Velocity²⁷

5. Hong Leong Bank

Hong Leong Bank is a Malaysian-based regional financial services company headquartered in Kuala Lumpur, with operations and investments across several Asian markets since 1905.²⁸ It offers business banking, digital banking and Islamic banking through Hong Leong Islamic Bank.²⁹

Business account offerings

• Business Current Account: Provides business transaction banking, cheque facilities and online business banking³⁰
• HLB PrimeBiz Current Account: A business current account with rebates and access to additional business banking solutions³¹
• Foreign Currency Account: Available for business and corporate customers, supporting 10 currencies³²
• Pay&Save Account: A business account option for sole proprietors with multi-currency functionality available through HLB Connect³³

6. GX Bank

GXBank is Malaysia’s first digital-only bank launched in 2023, backed by Grab and the Kuok Group.^34,35 It operates fully through a mobile app, with no physical branches.³⁶ It offers core business features such as business debit cards, online business banking via the GXBank app, and more.³⁶

Business account offerings

• Biz Account: Available to SSM-registered sole proprietors, with digital onboarding, daily interest and no monthly fees³⁷
• Biz FlexiLoan: Business financing available to eligible SSM-registered sole proprietors through the GXBank app³⁸

7. AEON Bank

AEON Bank is Malaysia’s first digital Islamic bank that launched in 2024.³⁹ Its business banking division, AEON Bank Biz, launched in August 2025 with a Shariah-compliant Business Current Account-i and digital business bank account services that can be accessed via a mobile app.³⁹

Business account offerings

• Business Current Account-i: A Shariah-compliant current account based on Murabahah via Tawarruq, with internet and mobile banking⁴⁰
• Biz Term Deposit-i: A Shariah-compliant term deposit product with placements starting from RM500⁴¹

8. HSBC Malaysia

HSBC began operating in Malaysia in 1884 and was legally incorporated as HSBC Bank Malaysia Berhad in 1984.⁴² HSBC’s Malaysian business banking includes international payments, foreign exchange, trade finance and access to its international network.⁴³ Its commercial banking network operates across 54 countries and territories and has multiple branches in Malaysia.^44,45

Business account offerings

• Business current accounts: HSBC provides high-volume cross-border transactional account options subject to eligibility⁴⁶
• HSBCnet: A digital banking platform covering account information, payments, trade and supply chain services and global banking functions⁴⁷

9. Standard Chartered

Standard Chartered Malaysia is an international bank providing business and corporate banking services in Malaysia.⁴⁸ Its digital banking platform, Straight2Bank, supports local and cross-border payments, trade finance and business account services.⁴⁹

Business account offerings

• Smart Business$aver-i: A Shariah-compliant business account with returns linked to account balances and qualifying activities⁵⁰
• Basic Current Account: A business current account with a minimum opening balance of RM100 and access to Straight2Bank⁵¹
• Saadiq Business JustOne accounts: Shariah-compliant business banking options including Business JustOne Deposit Account-i⁵²

10. Public Bank Berhad

Founded in 1966, Public Bank is a Malaysian banking group with business current account products for enterprises, SMEs and other non-individual customers.⁵³ Its business banking services include PB enterprise and online and mobile banking channels.⁵⁴

Business account offerings

• ACE Enterprise Account: An interest-bearing current account for business enterprises, corporations, clubs and associations⁵⁵
• PLUS Current Account: A current account with cheque book access and an overdraft facility subject to application⁵⁶
• PB Foreign Currency Current Account: An account that allows customers to hold up to 12 foreign currencies in one account with a minimum deposit of US$1,000⁵⁷

11. Bank Rakyat

Bank Rakyat was established in 1954 and describes itself as Malaysia’s largest Islamic cooperative bank.⁵⁸ Its business banking division serves cooperatives, corporations, commercial businesses, SMEs and micro businesses through Islamic banking products.⁵⁹

Business account offerings

• Basic Current Account-i (BCA-i): A Shariah-compliant current account for Malaysian citizens, permanent residents and eligible micro and small enterprises, with a RM100 opening deposit⁶⁰
• eCurrent Account-i (eCA-i): An electronic current account with 24/7 online transactions, no-cost monthly statements and interest rates of up to 2%⁶¹

12. RHB Bank

RHB Banking Group is a Malaysian financial services group with an ASEAN presence in 7 countries including Singapore.⁶² Its business banking services include current accounts, foreign currency products, digital banking through RHB Reflex and Islamic banking through RHB Islamic.^63,64

Business account offerings

• RHB Business Current Account: A business current account with RHB Reflex integration for managing daily transactions, payments, expenses and cash flow online⁶⁵
• RHB Multi-Currency Account: An account that lets importers and exporters hold, receive and convert up to 33 foreign currencies⁶⁶

The World Account: A multi-currency account for global businesses

A Malaysian bank account can provide the local banking infrastructure a business needs for operations in Malaysia. For businesses that regularly receive USD payments from international clients or make overseas payments, a multi-currency account can sit alongside that Malaysian bank account.

WorldFirst is an international payments provider offering the World Account, a multi-currency account designed for cross-border business activity. In Malaysia, its supported currency scope covers receiving and holding USD and MYR, while payments can be sent in USD, MYR and CNH. Currency conversion is available between USD, MYR and CNH. The World Account also provides local receiving accounts for USD and MYR. Businesses can use the account to receive payments from multiple marketplaces and payment gateways.

Additional features of the World Account

• Businesses can receive and hold MYR and USD
• Businesses can send and convert between MYR, USD and CNH
• Firm Orders are available for USD, MYR and CNH transactions
• World Pay is the authorised international payment provider for 1688.com, allowing eligible Malaysian businesses to make supported CNH payments for 1688 purchases directly through the World Account
• Receive international payments from 130+ marketplaces and payment gateways, including Amazon, Shopify, Stripe and Etsy

FAQs

1. What is the best bank for a business account in Malaysia?

Business account availability varies by business structure. Banks in this guide provide options for sole proprietors, partnerships, SMEs, companies and corporate customers, although eligibility requirements differ. Businesses should check the requirements for their specific entity type before applying.

2. Which Malaysian banks offer Islamic banking?

Islamic banking is available through Bank Rakyat and through Islamic subsidiaries or account options offered by banks including Maybank, CIMB, Hong Leong Bank, RHB, OCBC and Standard Chartered.^{1,7,21,26,48,62} AEON Bank operates as a digital Islamic bank.³⁹

3. Which Malaysian banks offer foreign currency accounts?

Malaysian banks offering foreign currency accounts include Maybank, CIMB, UOB, Hong Leong Bank, OCBC, Public Bank and RHB.^{1,7,14,21,28,53,62}  WorldFirst offers the World Account, a multi-currency account for businesses to receive, send, hold and convert foreign currencies.

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