Best USD accounts in Malaysia [2027]

A USD account in Malaysia lets businesses hold, receive and make USD payments. Explore account options, fees, currencies and features available in Malaysia

Key takeaways

• WorldFirst offers a multi-currency account with USD and MYR receiving, sending, converting and holding capabilities
• RHB and Maybank offer personal foreign currency accounts that can be used by freelancers and sole proprietors
• CIMB offers two business-focused options, with its Foreign Currency Current Account and Multi Currency Account supporting USD
• Hong Leong Bank offers a foreign currency account for individuals and SMEs, while Airwallex provides digital multi-currency business accounts

A USD account in Malaysia can help businesses and individuals hold USD without converting every payment into MYR immediately. US Dollar remains the dominant currency for trade settlement. 82.1% of Malaysia’s trade was settled in USD in 2023, and USD also remains dominant for intra-ASEAN trade.

The USD account options below compare bank and digital accounts based on currencies, business features, USD functionality and fees.

Top USD-supporting accounts in Malaysia

1. World Account by WorldFirst

The World Account is a multi-currency account from WorldFirst, an international payments provider. It lets Malaysian businesses receive international payments in MYR and USD using local receiving account details. A customer or marketplace can send money internationally to these accounts as if making a local payment, and the funds are credited to the business’s World Account without requiring the sender to make an international bank transfer. Businesses can also hold MYR and USD, convert between MYR, USD and CNH, and collect payouts from 130+ marketplaces and payment gateways.

For businesses buying from 1688, World Pay lets Malaysian businesses pay Chinese suppliers directly from the World Account. World Pay is the authorised international payment provider for 1688.com.

Key features of the World Account

• Receive payments through local MYR and USD account details
• Hold MYR and USD without immediately converting them
• Convert between MYR, USD and CNH
• Collect payouts from 130+ marketplaces and payment gateways
• Pay Chinese suppliers on 1688.com through World Pay

2. RHB Multi-Currency Account

The RHB Multi-Currency Account is a personal foreign currency account that supports up to 33 currencies, including USD, EUR, GBP, SGD, AUD, JPY and CNY, plus paper gold and paper silver.¹ It lets customers hold, buy, sell and convert supported currencies through RHB online banking, the mobile app or branches.¹ The account offers Call and Term Deposits with minimum balances starting from US$200 and US$2,000 respectively.¹

Eligible INDA (Investment Multi-Currency Account) customers can apply for an RHB Multi-Currency VISA debit card for RM20, while INEX (Individual Export Proceeds Account) customers cannot.¹ It does not provide business features such as team access or bulk payments.

Pricing: Account opening/monthly fee not specified and interbank transfers cost RM5²

*Fees checked in August 2026

3. CIMB Foreign Currency Current Account-i

CIMB Foreign Currency Current Account-i is designed for business enterprises operating in Malaysia.³ It supports 13 currencies, including USD, GBP, EUR, JPY, AUD, NZD, SGD, and more.³ Businesses can manage deposits and withdrawals through foreign telegraphic transfers, cheques, demand drafts and transfers to or from Ringgit accounts. Virtual cards are not supported with this account.

Pricing: The minimum initial deposit is US$500 or equivalent.⁴ A US$10 half yearly service charge and US$2 for handling debit or credit entry also applies⁴

*Fees checked in August 2026

Read the full CIMB business account review here

4. Maybank Master Foreign Currency Account

The Maybank Master Foreign Currency Account is a personal foreign currency deposit account supporting 16 currencies, including USD, EUR, GBP, SGD, AUD, JPY and CNY.⁵ Customers can buy, sell, transfer and monitor supported currencies through Maybank2u, its internet and mobile banking service.⁵ But, it is a personal rather than business account and does not provide business features such as virtual cards, bulk payments or local receiving accounts.⁵

Pricing: It requires a minimum initial investment of US$1,000, while transfers incur a US$4 charge5

*Fees checked in August 2026

→ Read the full Maybank business account review here

5. CIMB Multi Currency Account

CIMB Multi Currency Account is a business current account available to enterprises operating in Malaysia.⁶ It supports up to 14 currencies, including MYR, USD, GBP, JPY, AUD, NZD, SGD, CHF, EUR, CAD, HKD, CNY, and more.⁶ Businesses can make deposits and withdrawals through foreign telegraphic transfers and transfers to or from a Ringgit account.⁶  The account does not come with a virtual card.

Pricing: A US$500 minimum initial deposit is required, along with a US$10 service charge every six.⁴ A US$2 fee also applies to each debit or credit entry⁴

*Fees checked in August 2026

6. Hong Leong Bank Foreign Currency Account

Hong Leong Bank’s Foreign Currency Account is available to Malaysian citizens, permanent residents, eligible foreigners and SMEs.⁷ Supported currencies include USD, AUD, CAD, CNH, EUR, GBP, HKD, JPY and NZD, with minimum opening amounts ranging from AU$1,000 to JPY100,000 depending on currency.⁷  The account is designed to hold foreign currency and reduce repeated conversions for overseas transactions.⁷  It is also protected by PIDM (Perbadanan Insurans Deposit Malaysia) for up to RM250,000 per depositor. No virtual card is available with this account.⁷ 

Pricing: A RM10 transaction fee and RM30 half-yearly service charge apply⁸ 

*Fees checked in August 2026

7. Airwallex Global Accounts

Airwallex offers Global Accounts as part of its multi-currency business account.⁹  Malaysian businesses can open local currency accounts in 20+ currencies, including USD, and collect funds from 70+ countries.⁹  Funds can be held in multiple currencies and converted through the Airwallex platform.⁹  The accounts have digital onboarding and local account details support international collections.⁹  Corporate VISA cards are available separately for business spending, including multi-currency card issuance.⁹ 

Pricing: There are no account opening fees, monthly maintenance charges or minimum transaction requirements for Global Accounts⁹

→ Read the full Airwallex Malaysia review here

Which USD account fits the way you operate?

The USD account that fits your needs in Malaysia depends on how the account will be used. Personal foreign currency accounts such as RHB and Maybank can suit individuals, freelancers and some sole proprietors. CIMB and Hong Leong Bank provide bank-based options for businesses, while WorldFirst and Airwallex focus more directly on international business payments and multi-currency accounts including USD local receiving accounts. Here’s how you can open a USD account in Malaysia.

FAQs

1. What is a USD account in Malaysia?

A USD account is an account that allows eligible customers to hold and transact in US Dollars in Malaysia. It may be a foreign currency account, multi-currency account or business multi-currency account.

2. Can freelancers open USD accounts in Malaysia?

Yes, depending on eligibility. Personal accounts such as RHB and Maybank are available to individuals, while business owners can consider business-focused options where eligible.

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

A foreign currency account is generally designed to hold and transact in one or more specified foreign currencies. A multi-currency account combines several currencies within one account, allowing eligible customers to hold and manage different balances without opening separate accounts.

4. Do Malaysian businesses need a USD account?

A USD account can be useful for importers, exporters, freelancers earning USD and businesses receiving or making regular international payments. It can help businesses hold USD balances and use those funds for eligible USD payments without converting them into MYR first.

Sources

1. https://www.rhbgroup.com/personal/deposits/multi-currency-account/overview/index.html
2. https://www.rhbgroup.com/others/service-charges/index.html
3. https://www.cimb.com.my/en/business/business-day-to-day/deposit-investments/current-account/foreign-currency-current-account-i.html
4. https://www.cimb.com.my/en/business/help-and-support/rates-charges/interest-rates-charges/fees-charges/current-account.html
5. https://www.maybank2u.com.my/maybank2u/malaysia/en/personal/accounts/current/mfca.page
6. https://www.cimb.com.my/en/business/business-day-to-day/deposit-investments/current-account/multi-currency-account.html
7. https://www.hlb.com.my/en/personal-banking/deposits/current-account/foreign-currency-account.html
8. https://www.hlb.com.my/en/personal-banking/help-support/fees-and-charges/deposits.html
9. https://www.airwallex.com/en-my/business-account/global-accounts

This article is intended for informational purposes only and does not constitute legal advice or professional advice. This article should not be regarded as constituting an offer or a solicitation to buy or sell any regulated or financial products or services. WorldFirst makes no representations or warranties regarding the accuracy, completeness, or applicability of the content, and readers are encouraged to consult with legal professionals or other professionals for advice tailored to their specific situation. WorldFirst does not guarantee the accuracy and completeness of this article and expressly disclaims any and all liability to any person in respect of the consequences of anything done or omitted to be done wholly or partly in reliance on this article.