Top business current accounts in Malaysia

Business banking needs vary by company size, payment activity and how an account is used. Get a clear look at six Malaysian business current accounts and the features that set each apart

Key takeaways

• CIMB, Maybank, Standard Chartered, RHB, OCBC and Hong Leong Bank offer business current account options for different business types
• Minimum opening deposits range from RM100 to RM3,000 across the featured accounts
• Businesses handling international payments may need a separate multi-currency account alongside a domestic current account
• The World Account by WorldFirst is a multi-currency account that supports international payments in USD, MYR and CNH

A business current account is a bank account used by businesses to receive payments, make transfers and handle everyday expenses. Sole proprietors, SMEs, partnerships and companies may need one to separate business finances from personal banking.

But, choosing an account can be difficult when fees, minimum balances, digital banking and payment features differ between providers. This guide covers six Malaysian business current accounts, plus the World Account by WorldFirst, which is a multi-currency account for businesses handling international payments.

What is a business current account?

A business current account is a business bank account designed for companies and other registered business entities to handle regular financial transactions. Depending on the provider, it can support deposits, withdrawals, transfers, cheque payments, payroll and online banking.

Some accounts also provide overdraft facilities, business debit cards or access to cash management services. Businesses making international payments may need a separate foreign currency account or multi-currency account.

→ Read more about the best business bank accounts for small businesses

What to look for in a business current account

When reviewing a business current account, businesses can consider:

• Fees: Check monthly charges, transaction fees, cheque costs and ATM withdrawal charges
• Minimum balance: Some accounts require a minimum balance to avoid fall-below fees
• Cheque access: Traditional cheque facilities remain available with several business accounts
• Digital banking: Look for online and mobile banking, payment authorisation and transaction monitoring
• Users and cards: Larger teams may need multiple authorised users or business cards
• Cash management: Payroll, bulk payments, cheque deposits and other tools can support daily operations
• Foreign currency: Check whether the account handles foreign currencies directly or requires another account
• Eligibility: Requirements can vary by business structure, SSM registration and industry

Top business current accounts in Malaysia

1. CIMB Business Current Account

CIMB Business Current Account is available to sole proprietors, partnerships, LLPs, companies and selected organisations.¹ Businesses can apply online for the CIMB business account, while branch visits remain part of the account-opening process.¹ CIMB OCTO Biz provides online access for account enquiries, fund transfers and bill payments.¹

Pricing: The minimum initial deposit is RM3,000 for most business types and RM1,000 for associations, clubs, societies and religious bodies.² A half yearly service charge of RM10 also applies²

*Fees checked in August 2026 

2. Maybank Corporate Current Account

Maybank Corporate Current Account provides businesses with branch and digital banking access through M2U Biz and M2E online banking.³ The account can connect with accounting software for easier reconciliation and allows unlimited withdrawals at Maybank branches.³ Businesses can also access overdraft facilities and bulk payments through M2U Biz.³

The process of opening a Maybank business account starts online before a branch appointment and account activation.³ Additional business services include QR payments, financing, overseas transfers and business debit card access.³

Pricing: A minimum deposit of RM2,000 is required³

*Fees checked in August 2026 

3. Standard Chartered Business Current Account

Standard Chartered Business Current Account is designed for newly established businesses.⁴ It provides cheque-issuing facilities and consolidated monthly statements.⁴ Businesses can access accounts and transactions through Straight2Bank, while dedicated business support and relationship management are also available.⁴ Other services include business debit cards, automated payroll and local and international payment solutions.⁴

Pricing: Basic Current Account requires a minimum opening balance of RM100⁴

*Fees checked in August 2026 

4. RHB Business Current Account

RHB Business Current Account supports daily business banking and cash-flow tracking through RHB Reflex Business Internet Banking.⁵ Businesses can access electronic statements and online tools for payments and account management.⁵ The account can also connect with accounting and HR and payroll solutions under the applicable RHB Reflex package.⁵ It is available to business entities including sole proprietors, partnerships and private limited companies.⁵

Pricing: The initial deposit is RM1,000 for sole proprietorships and RM3,000 for businesses and companies⁵

*Fees checked in August 2026 

→ RHB also offers a separate RHB multi-currency account for businesses handling cross-border transactions

5. OCBC eBiz Account

OCBC eBiz Account is a digital business bank account with a 100% online application process.⁶ Eligible businesses must be registered with SSM and wholly owned by Malaysians or Singaporeans, subject to additional criteria.⁶

This current account includes access to OCBC Velocity and business mobile banking, alongside an OCBC Business Debit Card.⁶ Businesses can also access payment acceptance solutions such as OCBC Merchant Terminal and OneCollect that support payments through debit cards, credit cards and QR codes.⁶

Pricing: An RM500 initial deposit is required. A half-yearly service charge of RM10 also applies when the average balance falls below RM1,000⁶

*Fees checked in August 2026 

6. Hong Leong Bank Business Current Account

Hong Leong Bank Business Current Account provides standard facilities for businesses handling everyday transactions.⁷ The account includes a cheque book and monthly statements, while online business current account banking allows account access and management digitally.⁷

Businesses can also apply for an overdraft facility to support working capital requirements.⁷ The account is covered by Perbadanan Insurans Deposit Malaysia (PIDM), with eligible deposits protected up to RM250,000 per depositor.⁷

Pricing: RM10 every six months (June and December) if the average balance is below RM1,000⁸

*Fees checked in August 2026 

The World Account: Built for global businesses

The World Account is a multi-currency account from WorldFirst, an international payments provider, built for businesses handling cross-border transactions. Malaysian businesses can receive USD and MYR through local receiving account details, hold balances in these currencies and send USD, MYR or CNH to overseas suppliers, contractors and business partners. The account also supports currency conversion between USD, MYR and CNH.

Businesses can collect payments from 130+ marketplaces and payment gateways, including Amazon, Etsy, Stripe and Shopify. For businesses buying from 1688, World Pay is the authorised international payment provider for making payments to Chinese suppliers.

The World Account can therefore complement a Malaysian business current account where international collections, currency conversion or overseas supplier payments form part of regular operations.

Key features of the World Account

• Receive USD and MYR through local receiving account details
• Hold USD and MYR balances
• Send USD, MYR and CNH to overseas business partners
• Convert between USD, MYR and CNH
• Collect payments from 130+ marketplaces and payment gateways
• Use Firm Orders, which let businesses lock in an exchange rate before completing a currency conversion, for USD, MYR and CNH transactions
• Pay Chinese suppliers directly on 1688.com through World Pay

→ Learn how to open a USD account in Malaysia

FAQs

1. How do I open a business current account online?

The process varies by bank. Online business current accounts by CIMB and Maybank allow businesses to start their applications online and then require branch visits, while OCBC eBiz and WorldFirst offer a fully online application with eKYC for eligible businesses.

2. Do business current accounts pay interest?

Most business current accounts do not pay interest on balances. Where interest is offered, the rate and eligibility vary by account, with terms and conditions apply.

3. Can I open a business current account entirely online?

Yes, some payment providers like WorldFirst and OCBC eBiz support 100% online applications for eligible businesses.⁶ Other providers like CIMB and Maybank allow businesses to begin the application online, but require a branch visit to complete the process.^1,3

Sources

1. https://www.cimb.com.my/en/business/business-day-to-day/deposit-investments/current-account/online-business-current-account.html
2. https://www.cimb.com.my/en/business/help-and-support/rates-charges/interest-rates-charges/fees-charges/current-account.html
3. https://www.maybank2u.com.my/maybank2u/malaysia/en/business/deposits/deposit_account/corporate_current_account.page
4. https://www.sc.com/my/business-banking/accounts/business-current-account/
5. https://www.rhbgroup.com/business/sme-banking/deposits/current-account/index.html
6. https://www.ocbc.com.my/business-banking/smes/accounts/ebiz
7. https://www.hlb.com.my/en/business-banking/business-and-corporate-banking/deposits/current-account/business-current-account.html
8. https://www.hlb.com.my/en/personal-banking/help-support/fees-and-charges/deposits.html

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.