Public Bank USD account review [2026] Malaysia: Features, fees and more

Public Bank offers USD banking through single-currency and multi-currency accounts. Get a breakdown of its features, fees and eligibility in this review

Key takeaways

• Public Bank offers transactional and fixed deposit accounts in USD, with single-currency and multi-currency options
• Its multi-currency offerings support up to 12 currencies, including USD
• The World Account by an international payments provider, WorldFirst provides local receiving details in USD and MYR

Public Bank offers USD accounts for Malaysian businesses to receive international payments, hold foreign currency and pay overseas suppliers in US Dollars.1 But fees for receiving payments in USD or holding funds are not publicly specified.

This guide reviews the Public Bank USD accounts and also talks about a multi-currency account by WorldFirst, the World Account.

What is the Public Bank USD account?

The Public Bank USD account refers to its foreign currency banking products that support US Dollars.¹  Businesses can choose between a single-currency account and a multi-currency account, depending on their transaction needs.¹ 

The bank offers four products: the PB Foreign Currency Current Account (PB FCY CA), PB Multi Foreign Currency Current Account (PB MCA), PB Foreign Currency Fixed Deposit Account (PB FCY FD) and PB Multi Foreign Currency Fixed Deposit Account (PB MFFD).^1,2

The current accounts support transactional banking, while fixed deposits hold funds for a selected term and pay interest at maturity.^1,2  All four products support USD and are available to individuals and business entities.^1,2 

Public Bank USD account at a glance

Quick look at the pros and cons

PB FCY CA and PB MCA: The transactional products

PB Foreign Currency Current Account (PB FCY CA)

The PB FCY CA lets customers hold one foreign currency per account, making it an option for businesses that primarily send or receive international funds in USD.¹  It supports foreign currency banking for day-to-day business needs, with the bank offering a choice of major currencies. Internet banking is also available.¹ 

PB Multi Foreign Currency Current Account (PB MCA)

The PB MCA allows customers to hold up to 12 foreign currencies in one account.¹  Supported currencies include USD, GBP, EUR, AUD, NZD, JPY, HKD, SGD, CHF, CNY, CAD and THB.¹ 

This structure allows businesses handling multiple currencies to keep their balances within one account rather than opening a separate account for each currency.¹  But companies can place CNY only for trade-related purposes.³ 

Deposit and withdrawal mechanics

Foreign currency current accounts can receive funds through foreign telegraphic transfers and foreign cheques.⁴  Customers can also place funds by converting Malaysian Ringgit or another foreign currency, subject to the bank’s applicable terms and exchange rates.⁴  Cash deposits and withdrawals in foreign currency are not permitted. Customers should confirm available transfer methods, online banking functions and any cheque facilities directly with Public Bank.⁴ 

Deposit protection

Both current account variants are protected by PIDM up to RM250,000 per depositor.^1,2

Public Bank USD account fees

*Fees checked in October 2026

Who is eligible for the Public Bank USD account?

Public Bank’s foreign currency accounts are available to resident and non-resident individuals aged 18 and above, including joint account holders and sole proprietors.⁴  Eligible non-individual applicants include societies, associations, clubs, partnerships and business entities.⁴ 

How to open a Public Bank USD account

1. Review: Visit Public Bank’s official website and review the relevant foreign currency account product page and disclosure sheet.
2. Confirm: Contact the bank or visit a branch to confirm eligibility, required documents, minimum placement and applicable fees.
3. Apply: Complete the application and provide the requested documents and initial deposit, subject to the bank’s approval.

The World Account: A multi-currency account for Malaysian businesses

WorldFirst’s World Account is a multi-currency account that allows Malaysian businesses to receive, hold, convert and send funds in multiple currencies. It provides local receiving details for USD and MYR, so businesses can receive international payments from overseas customers and payment platforms.

Businesses can retain balances in USD or MYR and convert funds between USD, MYR and CNH at zero cost. They can also send payments in these three currencies and receive payouts from multiple marketplaces and payment gateways.

Key features of the World Account

• Receive payments from overseas customers and payment platforms using local receiving details in USD and MYR
• Hold incoming funds in USD or MYR and use them when needed for business expenses or international transactions, without having to convert each payment as soon as it arrives
• Pay overseas suppliers, contractors and other business recipients by sending international payments in USD, MYR or CNH
• Convert balances between USD, MYR and CNH within the World Account at zero cost, making it easier to move funds between these currencies as business needs change
• Collect payouts from more than 130 marketplaces and payment gateways, including Amazon, Etsy, Stripe, Shopee and Shopify
• Pay suppliers on 1688.com through World Pay, the authorised international payment provider for 1688. Read more about buying from 1688.com in Malaysia

FAQs

1. Can I open a Public Bank USD account online?

Check Public Bank’s official application options or contact the bank to confirm whether your chosen foreign currency account can be opened online or requires a branch visit.

→ Learn more about digital business bank accounts

2. What’s an alternative to the Public Bank USD account for Malaysian businesses?

The World Account by WorldFirst supports USD and MYR receiving and holding, payments in USD, MYR and CNH, and collections from more than 130 marketplaces and payment gateways. The appropriate option depends on your currency, collection and supplier payment requirements.

Sources

1. https://www.pbebank.com/en/banking/foreign-currency-accounts/foreign-currency-current-account/
2. https://www.pbebank.com/en/banking/foreign-currency-accounts/foreign-currency-fixed-deposit-account/
3. https://www.pbebank.com/media/vdlmx1by/pds-fcyca_en.pdf
4. https://www.publicislamicbank.com.my/media/k55g3cxu/ipd043eng.pdf
5. https://www.pbebank.com/en/rates-charges/foreign-currency-current-account/
6. https://www.pblebank.com/pble/banking/foreign-currency-current-account/

The information contained is general only. Before acting on the information you should consider whether it is appropriate for you, in light of your objectives, financial situation or needs. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, accuracy is not guaranteed and the information may be incomplete or condensed. All opinions, estimates, mentioned products/services and referenced material constitute the author’s own judgement as of the date of the article and are subject to change without notice. WorldFirst shall not be responsible for any losses or damages arising from reliance on such information.