OCBC Malaysia offers USD through its Multi-Currency Current Account (MCCA). Get an overview of its features, availability, eligibility and fees
Key takeaways
- OCBC Malaysia does not offer a dedicated USD current account. USD is supported through its Multi-Currency Current Account (MCCA)
- The MCCA supports 12 currencies and is designed for wealth portfolio settlements
- Malaysian businesses can use WorldFirst’s World Account to receive, hold, convert and transfer funds in USD and MYR
OCBC Malaysia offers USD holdings through its Multi-Currency Current Account (MCCA), which supports US Dollars alongside 11 other foreign currencies.1,2 The account provides a way for customers to hold and pay in multiple foreign currencies under one account.1,2
But MCCA is exclusively available to OCBC Premier Banking and OCBC Premier Private Client customers only.1,2 Plus, transfer fees for the account are not specified publicly.2 That being said, the USD Current Account offered by OCBC Singapore supports cheque payments and bank transfers but does not pay interest and requires a minimum average daily balance of US$1,000.1
This OCBC USD account review covers its features and availability in Malaysia. It also explores a multi-currency account by WorldFirst that supports international transactions in both USD and MYR.
Go through this list of the best international transfer providers available in Malaysia
What is the OCBC USD account?
The OCBC US Dollar Account allows you to handle everyday transactions in USD.1 It provides a centralised account for handling USD payments while keeping daily transaction funds separate from personal savings.1
Account holders can issue cheques in USD wherever required.1 Applicants must be at least 18 years old and either Singapore citizens, permanent residents or foreigners holding a valid pass.1
But users must note that OCBC Malaysia does not offer a dedicated USD current account.2 Instead, customers can hold USD through its Multi-Currency Current Account (MCCA), which supports foreign currency transactions alongside other currencies.2
Learn how to open a USD account in Malaysia
OCBC MCCA at a glance
| Feature | Details2 |
| Product name | OCBC Multi-Currency Current Account (MCCA) |
| Issued by | OCBC Bank (Malaysia) Berhad |
| USD supported | Yes |
| MYR supported | Yes |
| Supported currencies | 12 |
| Account structure | Multi-currency settlement account |
| Primary purpose | Wealth portfolio settlements |
| Eligibility | OCBC Premier Banking and Premier Private Client |
| Minimum age | 18 years |
| Deposit protection | PIDM up to RM250,000 per depositor |
*Details checked in November 2026
Quick look: Pros and cons of the OCBC USD account
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Key features of the OCBC USD account (MCCA)
Multi-currency settlement account
The MCCA supports 12 currencies in total, including USD, SGD, EUR, GBP, AUD, NZD, CAD, HKD, MYR and JPY.2 Customers can also request access to Chinese Yuan (CNH) and Swiss Franc (CHF).2
Interest rates
Interest rates vary by currency and balance. The published MYR rates are2:
| MYR balance tier | Interest rate per year |
| Up to RM50,000 | 0.05% |
| Above RM50,000 up to RM200,000 | 0.30% |
| Above RM200,000 up to RM3,000,000 | 1.50% |
| Above RM3,000,000 | 1.60% |
AUD and other currency balances earn no interest.2 Whereas, temporary overdrafts attract interest at 5.50% per year on the excess amount, calculated daily and charged monthly in arrears.2
Deposit protection
Eligible MCCA deposits are protected by the Malaysia Deposit Insurance Corporation (PIDM) up to RM250,000 per depositor.2 Protection is automatic and carries no additional charge.2 If a member bank fails, PIDM provides reimbursement for protected deposits according to its applicable rules.2
OCBC USD account fees
OCBC Malaysia does not publicly disclose the MCCA’s account opening, maintenance or minimum balance fees.3 Charges for receiving and sending international payments, currency conversion and falling below any minimum balance are also not specified on its website.2,3 Customers should contact OCBC directly for the latest fee schedule and applicable charges.
Who is eligible for the OCBC USD account?
MCCA is available to individuals aged 18 and above who are OCBC Premier Banking or OCBC Premier Private Client customers.2 Malaysian SMEs, startups and freelancers with standard business banking accounts are not eligible to access the MCCA solely through their existing business banking relationship.2
How to open an OCBC USD account
- Check eligibility: Confirm that you meet the criteria for OCBC Premier Banking or Premier Private Client.
- Contact OCBC Malaysia: Enquire about MCCA availability, account requirements and the application procedure.
- Submit your application: Provide the identification and supporting documents requested by the bank and complete the application as instructed.
The World Account: A multi-currency account for Malaysian businesses
WorldFirst’s World Account provides Malaysian businesses with USD and MYR local account details for collecting cross-border payments. This multi-currency account supports holding funds in both currencies, converting between USD, MYR and CNH, and making payments in these currencies. Businesses can also use it to receive funds from over 130 marketplaces and payment gateways.
World Account features for Malaysian businesses
- Provide your local receiving details to international clients and payment platforms to receive funds in either currency. Find out how Malaysian businesses can receive international payments
- Keep incoming USD or MYR in your account and convert the balance when required for business expenses or transfers
- Pay international recipients in USD, MYR or CNH, including payments to overseas vendors, freelancers and business partners
- Exchange USD, MYR and CNH directly within your World Account
- Receive business proceeds from 130+ platforms, such as Amazon, Etsy, Stripe, Shopee, Lazada and Shopify
- Make supplier payments through World Pay, the authorised international payment provider for 1688.com. Read more about purchasing from 1688.com in Malaysia
FAQs
1. Does OCBC Malaysia offer a dedicated USD current account?
No. USD banking at OCBC Malaysia is available through the Multi-Currency Current Account (MCCA), which supports USD alongside 11 other currencies.2
2. Who is eligible for the OCBC USD account?
MCCA that supports USD is exclusively available to customers aged 18 and above who are OCBC Premier Banking or OCBC Premier Private Client customers.2
3. What currencies does OCBC MCCA support?
MCCA supports MYR, AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD and USD. CNH and CHF are also available upon request.2
Sources
- https://www.ocbc.com/personal-banking/deposits/multi-currency-usd-current-account
- https://www.ocbc.com.my/personal-banking/premier-banking/grow-your-wealth/wealth-account/multi-currency-current-account
- https://www.ocbc.com.my/iwov-resources/my/ocbc/personal/pdf/help-and-support/general/Fees_Charges_EN.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.
