OCBC business account review Malaysia: Features, fees and more

OCBC business accounts in Malaysia support businesses with everyday banking. Take a look at the four accounts options and how they differ by fees and features

Key takeaways

• OCBC offers three main business account options, eBiz, Business Access and Business Signature
• Business account fees start from zero for eBiz account, while Business Access and Business Signature charge RM20 per month
• The World Account is a multi-currency account that comes with USD and MYR receiving details for Malaysian businesses

OCBC is a financial services provider that offers personal and business accounts in Malaysia for daily banking, international payments and digital transactions.¹ It also offers a Multi-Currency Account that supports up to 12 currencies, but the website does not specify account charges or holding terms for the currencies.²

This guide reviews the OCBC business bank accounts in Malaysia and also covers WorldFirst’s World Account for cross-border payments.

What is an OCBC business account?

OCBC Bank (Malaysia) Berhad offers business banking services for Malaysian users, including SME-focused MYR accounts and foreign currency products.¹ Its business banking services include digital access through OCBC Velocity, while eligible deposits are protected by PIDM (Perbadanan Insurans Deposit Malaysia).^2,3 OCBC Al-Amin Bank Berhad provides Shariah-compliant business banking products as well.⁴

Quick look: pros and considerations of the OCBC business account

OCBC business account fees: the breakdown

OCBC business account variants

OCBC eBiz

OCBC eBiz is positioned for start-ups and new business ventures.⁵ Eligible businesses registered with SSM and wholly owned by Malaysians/Singaporeans can apply online using eKYC, with the account generally opened within one or two working days.⁵

It requires an initial deposit of RM500 and has no monthly account fee.⁵ An average balance of RM1,000 is required, with a RM10 half-yearly service charge when the balance falls below this amount.⁵ The account lets you access OCBC Velocity, mobile banking, FX Online and an OCBC Business Debit Card.⁵

OCBC Business Access / Business Access-i

OCBC Business Access is designed for SMEs and growing businesses.⁶ It requires a standard minimum initial deposit of RM50,000.⁶ The monthly account fee is RM20 and its supports payment methods like DuitNow, GIRO, payroll, RENTAS (costing RM2), direct debit and other local and overseas payment services.⁶

OCBC Velocity and the Business Mobile Banking app are also available for digital transactions.⁶ Telegraphic transfer charges are RM5 for SGD and IDR and RM20 for other currencies.6 Business Access-i also follows Shariah principles and is available through OCBC Al-Amin.⁷

→ Know all about business bank accounts for SMEs

OCBC Business Signature / Business Signature-i

OCBC Business Signature is aimed for established businesses and requires a standard minimum initial deposit of RM250,000, with a RM20 monthly account fee.⁶ It provides the same features as the Business Access-i account like digital banking, local and overseas payment facilities, Shariah compliance and more.⁶ It also offers up to four complimentary OCBC OneTokens to authenticate transactions online.⁶ Telegraphic transfers across currencies cost RM5, while GIRO and RENTAS transfers cost zero.⁶

OCBC Business Debit Card

The OCBC Business Debit Card links to an OCBC MYR business current account and supports cashless business payments.⁸ Businesses can also customise daily spending and ATM withdrawal limits at an OCBC branch.⁸

OCBC Multi Currency Account

OCBC offers a Multi-Currency Account for individuals in Malaysia making cross-border payments.² It supports up to 12 currencies, including AUD, CAD, CNY, EUR, GBP, HKD, JPY, NZD, SGD and USD, with CNH and CHF available on request.² Users can receive and make payments in supported currencies through OCBC Velocity and the Mobile Banking app.² But, account opening and other charges are not specified on the website.

→ Learn how to open a USD account in Malaysia

*Fees checked in September 2026

Who is eligible to open an OCBC business account?

Eligibility depends on the account. OCBC’s business products cover Malaysian businesses registered with SSM, while individual account requirements vary by product. eBiz is eligible to businesses wholly owned by Malaysians and Singaporeans, while Business Access and Business Signature are available to businesses including SMEs as defined by the relevant OCBC criteria.^5,6

How to open an OCBC business account in Malaysia

1. Choose the account tier based on the business’s size, banking requirements and minimum deposit.
2. Prepare the required documents including SSM registration details and identification documents requested during the application.
3. Submit the OCBC application form online where the selected account supports digital onboarding, then complete eKYC or any additional verification requested by OCBC.

How to close an OCBC business account

Step 1: Clear outstanding transactions including pending payments and linked instructions.

Step 2: Transfer the remaining balance after outstanding amounts have been settled.

Step 3: Cancel linked services such as cards and payment arrangements.

Step 4: Submit the closure request using OCBC’s required account closure process.

Step 5: Keep confirmation of closure for business records.

The World Account: a multi-currency account for cross-border operations

WorldFirst’s World Account is a multi-currency account for Malaysian businesses receiving international payments, converting currencies and paying overseas suppliers. Businesses can receive and hold USD and MYR through local receiving account details and send international payments in USD, MYR and CNH.

The account supports payouts from 130+ marketplaces and payment gateways, including Amazon, Etsy, Stripe and Shopify. USD, MYR and CNH can be converted within the account, while eligible transactions can also use Firm Orders to lock in an exchange rate for a future payment.

Key features of the World Account

• Receive USD and MYR through local receiving account details
• Send USD, MYR and CNH internationally
• Convert between USD, MYR and CNH
• Receive payouts from 130+ marketplaces and payment gateways
• Use Firm Orders for eligible USD, MYR and CNH transactions
• Pay Chinese suppliers directly through World Pay (the authorised international payment provider for 1688.com) when buying from 1688.com

FAQs

1. What documents are needed to open an OCBC business bank account in Malaysia?

Requirements vary by business structure and account. SSM registration and identification documents are among the information requested during onboarding.

2. What is the difference between OCBC eBiz, Business Access and Business Signature?

eBiz has an initial deposit of RM500, Business Access starts at RM50,000 and Business Signature starts at RM250,000, with the latter two aimed at larger or more established businesses.^5,6

3. Does OCBC offer Islamic banking business accounts in Malaysia?

Yes. Business Access-i and Business Signature-i are Shariah-compliant variants available through OCBC Al-Amin.⁷

Sources

1. https://www.ocbc.com.my/group/gateway
2. https://www.ocbc.com.my/personal-banking/premier-private-client/grow-your-wealth/wealth-account/multi-currency-current-account
3. https://www.ocbc.com.my/business-banking
4. https://www.ocbc.com.my/ocbcal_amin
5. https://www.ocbc.com.my/business-banking/smes/accounts/ebiz
6. https://www.ocbc.com.my/business-banking/babs-promo-campaign
7. https://www.ocbc.com.my/OCBCAL_Amin/business-banking-i/deposits/business-access-i
8. https://www.ocbc.com.my/business-banking/smes/transactions/business-debit-card
9. https://www.ocbc.com.my/iwov-resources/my/ocbc/business/pdf/smes/transactions/business-debit-card/BDC-PDS-Agreement.pdf
10. https://www.ocbc.com.my/business-banking/smes/accounts/foreign-currency

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.