The Hong Leong Bank foreign currency account supports international payments in multiple currencies. Dive into the account review to compare its features and fees
Key takeaways
- Hong Leong Bank’s Foreign Currency Account is available to companies and supports 10 foreign currencies, subject to minimum initial deposits
- The foreign currency account fees include RM10 per transaction and RM30 every half year, subject to stated waivers
- The World Account is a multi-currency account for receiving and holding USD and MYR, and sending USD, MYR and CNH payments
The Hong Leong Foreign Currency Account offers Current Account and Fixed Deposit options across 10 supported currencies.1 It also provides digital access through the HLB Connect App.2 But, each supported currency comes with a minimum initial deposit, while details on local receiving account information, and business cards are not specified.1
This guide talks about the Hong Leong Foreign Currency Account and its features. It also explores a multi-currency account, the World Account by an international payments provider, WorldFirst.
What is the Hong Leong Foreign Currency Account?
The Hong Leong Foreign Currency Account is available as a Current Account or Fixed Deposit for businesses that deal in foreign currencies.1 Companies can choose fixed deposit periods from 1–30 days or 1–12 months.1
The account supports 10 currencies and can be used by businesses that have overseas operations or deal in foreign currencies, along with users that want to receive/send payments abroad.1,3 Deposits are also protected by PIDM up to RM250,000 for each depositor.1
Quick look: pros and cons of the Hong Leong Foreign Currency Account
| Pros | Cons |
|
|
Key features of the Hong Leong Foreign Currency Account
Supported currencies
The account supports 10 currencies: AUD, CAD, CNY, EUR, GBP, JPY, HKD, NZD, SGD and USD.1 Minimum initial deposits range from 5,000 units for several currencies like AUD, USD, SGD, NZD and more to 550,000 JPY and 50,000 for CNY or HKD.1
Foreign exchange
The product provides preferential foreign exchange conversion rates.1 Hong Leong also publishes foreign exchange rates and HL Market Watch updates for customers following currency movements.1
Digital banking access
The HLB Connect App lets users handle banking from their mobile phone, including account opening, international transfers, payments and currency conversions.2 Sole proprietors can apply for an account through the app without visiting a branch.2
→ Learn how to open a digital business account in Malaysia step-by-step
Hong Leong Foreign Currency Account fees: The breakdown
| Fee type | Hong Leong Foreign Currency Account fees |
| Transaction fee | RM10 or equivalent, waived for all new and active Dual Currency Investments (DCI) customers and Foreign Currency Bond customers4 |
| Service charge | RM30 or equivalent every half year, June and December, waived for all new and active Dual Currency Investments (DCI) customers and Foreign Currency Bond customers4 |
| Monthly account fee | Not specified |
| Minimum initial deposit | Varies for all currencies1 |
| Minimum balance requirement | Not specified |
| Fall-below fee | Not specified |
| Foreign currency conversion | Not specified |
*Fees checked in September 2026
Who can open a Hong Leong Foreign Currency Account?
The account is available to Malaysian citizens and permanent residents, foreigners with valid documentation, and businesses including small and medium enterprises (SMEs).1,3
How to apply for a Hong Leong Foreign Currency Account
- Confirm the account type: Determine whether the business requires a Foreign Currency Current Account or foreign currency fixed deposit based on its intended use.
- Review the currency requirements: Check the minimum initial deposit for the currency required.
- Prepare business account information: Hong Leong provides a business bank account application process that includes Foreign Currency Account and Foreign Currency Account-i options.
- Fund the account: Meet the applicable minimum initial deposit for the selected currency once the account is opened.
The World Account: A multi-currency account for Malaysian businesses
The World Account is a multi-currency account from WorldFirst, an international payments provider, built for businesses making cross-border payments. In Malaysia, businesses can receive and hold USD and MYR, send payments in USD, MYR and CNH, and convert between multiple currencies.
The account can be funded by receiving money through its local receiving account details. Businesses can also use local receiving details for marketplace and payment gateway collections, with WorldFirst’s network spanning 130+ marketplaces and payment gateways.
Additional features of the World Account
- Collect payouts from 130+ marketplaces and payment gateways including Amazon, Etsy, Lazada, Stripe, Shopee and more
- Make CNH payments to 1688.com through World Pay, the authorised international payment provider for 1688.com
- Place Firm Orders for supported USD, MYR and CNH transactions
Hong Leong Foreign Currency Account vs the World Account: feature comparison
| Feature | Hong Leong Foreign Currency Account | World Account |
| Primary purpose | Send/receive foreign currencies alongside MYR through a Malaysian bank1 | Multi-currency account for cross-border payments in USD, MYR and CNH |
| Supported currencies | 10 including USD, SGD, EUR and more1 | USD and MYR; Sending is supported in USD, MYR, and CNH |
| Local currency receiving accounts | Not specified | USD and MYR |
| Payments to 1688.com suppliers | Not supported directly | Supported via World Pay |
| Marketplace payout collection (Amazon, Shopify, Stripe, Etsy and 130+ others) | Requires configuration on each seller platform | Supported through local currency receiving details |
| Firm Orders | Not applicable | Available for USD, MYR and CNH |
| Currency conversion rate | Hong Leong counter rate (varies by transaction)1 | Published conversion rate |
FAQs
1. Can I deposit and withdraw foreign currency from a Hong Leong Foreign Currency Account?
Yes. The Hong Leong Foreign Currency Account allows eligible businesses to deposit and withdraw funds in supported foreign currencies, subject to the bank’s requirements and applicable foreign exchange regulations.1
2. What currencies does Hong Leong Foreign Currency Account support?
The business Foreign Currency Account page lists AUD, CAD, CNY, EUR, GBP, JPY, HKD, NZD, SGD and USD, with different minimum initial deposits for each currency.1
3. How do I close a Hong Leong Foreign Currency Account?
To close the Hong Leong Foreign Currency Account the bank may keep enough money from the account to cover any unpaid amounts owed to HLB.5 The terms do not specify that the account can be closed through the HLB Connect App or if a branch visit is necessary.
Sources
- https://www.hlb.com.my/en/business-banking/business-and-corporate-banking/deposits/foreign-currency/foreign-currency-account.html
- https://www.hlb.com.my/en/personal-banking/hlb-connect.html
- https://www.hlb.com.my/en/personal-banking/deposits/current-account/foreign-currency-account.html
- https://www.hlb.com.my/en/personal-banking/help-support/fees-and-charges/deposits.html
- https://www.hlb.com.my/content/dam/hlb/my/docs/pdf/Personal/Deposit/Foreign-Deposit-Account/Foreign%20Currency%20Account%20Terms%20&%20Conditions%20-%20English.pdf
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.
