Learn more about the RHB multi-currency account to understand whether it suits your international payment needs
Key takeaways
- The RHB Multi-Currency Account can hold up to 33 foreign currencies
- RHB’s Multi-Currency Account is an individual account and not a business one
- The World Account by WorldFirst is a multi-currency account built for global businesses based in Malaysia
RHB’s multi-currency account is a personal account rather than a business account, so it does not include business-focused features such as team access or spending controls.4 The account also requires an RHB Ringgit current or savings account. This review covers its features, fees and eligibility, and also looks at a multi-currency account for businesses offered by WorldFirst.
What is RHB Bank?
RHB Banking Group is a Malaysia-based financial services group with operations across seven ASEAN markets.2
Today, RHB combines a nationwide branch network with digital banking services including RHB online banking, the RHB mobile banking app and RHB Reflex for businesses, serving individuals, SMEs and large corporations.3 It also offers foreign currency accounts, trade services and foreign exchange products.4,5
RHB multi-currency account: overview
The RHB multi-currency account is a personal foreign currency deposit account that lets individuals hold up to 33 foreign currencies (USD, EUR, GBP, JPY and more) and two precious metals under one account.4
Users can buy, sell and convert supported currencies through RHB online banking, the RHB mobile banking app or at any RHB branch.4 Selected currencies are eligible to earn interest, with RHB multi-currency account interest rates varying by currency and deposit type.4
The account supports both Call Deposits (flexible deposits that allow withdrawals without a fixed maturity date) and Term Deposits (fixed-term deposits held for a chosen tenure to earn interest until maturity).4
Depending on the account type, customers may also apply for the RHB multi-currency VISA debit card, which enables spending directly from supported foreign currency balances.4 Users can also use RHB’s online multi-currency account conversion calculator to check indicative exchange rates and estimate currency conversions.4,6
Types of RHB multi-currency account
Investment Multi-Currency Account (INDA)
The Investment Multi-Currency Account (INDA) is designed for resident and non-resident individuals who want to manage foreign currency holdings.4
It can be used to retain overseas investment funds, invest in foreign currencies through Ringgit conversion or eligible foreign currency borrowing from a licensed onshore bank, hold funds for overseas education expenses, and receive overseas salary payments.4
Eligible account holders can also apply for an RHB multi-currency VISA debit card at a fee.4
Individual Export Proceeds Account (INEX)
The Individual Export Proceeds Account (INEX) is intended for resident and non-resident individuals who receive export earnings.4 Customers can hold export earnings in supported foreign currencies until they choose to use or convert them.4
The INEX account is not eligible for the RHB multi-currency account debit card and is designed specifically for managing export proceeds rather than general foreign currency savings.4
Pros and cons of the RHB Multi-Currency Account
| Pros |
Cons |
- Supports 33 foreign currencies and two precious metals4
- Multi-currency VISA debit card available for eligible account types4,6
|
- It’s a personal account rather than a business account4
- Requires an RHB Ringgit current or savings account as a mandate4
- INEX accounts cannot obtain the multi-currency VISA debit card4
|
RHB multi-currency account fees
| Fee type |
RHB multi-currency account |
| Account opening fee |
Not specified |
| Monthly account fee |
Not specified |
| Minimum deposit |
- Call deposit: US$200 (or equivalent)4
- Term deposit: US$2,000 (or equivalent)4
|
| Currency conversion fee |
- Based on prevailing exchange rates4
- No separate conversion fee when spending available foreign currency balances using the multi-currency VISA debit card4
|
| Fund transfer fee |
- RHB online banking immediate transfer: Zero7
- Future-dated/recurring transfer: Zero7
- Interbank fund transfer: RM5 per transaction7
|
| Interest |
Available on selected currencies (rates vary, terms apply)4 |
| RHB multi-currency VISA debit card fee |
RM207 |
*Fees checked August 2026
Eligibility for the RHB multi-currency account
The account is available to Malaysian residents and non-residents aged 18 and above, as well as eligible non-profit organisations, clubs, societies and associations.4
How to open an RHB multi-currency account
- Open or hold an RHB Ringgit current or savings account, then complete the multi-currency account application form.
- Submit your identity card or passport together with any required supporting documents, such as an enrolment letter for education purposes or a valid work visa for overseas employment.
- Once approved, fund the account and buy or convert foreign currencies through RHB online banking, the RHB mobile banking app or any RHB branch.
The World Account: A multi-currency account built for global businesses
The World Account is a multi-currency account offered by WorldFirst, an international payments provider. It enables eligible businesses to receive international payments through local receiving account details in MYR and USD, and send payments in MYR, USD and CNH from a single account. Businesses can also collect payouts from more than 130 marketplaces and payment gateways.
For businesses sourcing products from China, World Pay is the authorised international payment provider for 1688.com, allowing suppliers to be paid directly from the World Account. Malaysian businesses can also use firm orders for USD, MYR and CNH conversions by setting a target exchange rate for a future conversion. If the market reaches the selected rate, the conversion is completed automatically.
Key features of the World Account
- Receive international payments through local receiving account details in MYR and USD
- Hold USD and MYR instead of immediately converting them
- Convert between USD, MYR and CNH within the same account
- Collect payouts from 130+ marketplaces and payment gateways, including Amazon, Shopify, Shopee, Lazada and Stripe
- Pay Chinese suppliers on 1688.com through World Pay, the authorised international payment provider for 1688.com
→ For businesses also handling USD payments, here’s a step-by-step guide to opening a USD account in Malaysia
FAQs
1. What is the RHB multi-currency account?
The RHB bank multi-currency account is a personal foreign currency account that allows customers to hold up to 33 foreign currencies and selected precious metals within one account while earning interest on selected currencies.4
2. How many currencies does the RHB multi-currency account support?
The account supports 33 foreign currencies, including USD, EUR, GBP, SGD, AUD, JPY, CNY and many others, together with paper gold and paper silver investments.4
3. Can businesses use the RHB Multi-Currency Account?
The account is designed for individuals rather than businesses.4 However, sole proprietors or freelancers may use it for personal management of overseas income. The RHB multi-currency Account does not include business features such as bulk payouts, and team spending.
Sources
- https://www.bnm.gov.my/-/rhb-bank-berhad
- https://www.rhbgroup.com/others/about-us/who-we-are
- https://www.rhbgroup.com/digital-services/index.html
- https://www.rhbgroup.com/personal/deposits/multi-currency-account/overview/index.html
- https://www.rhbgroup.com/business/imports/trade-services/index.html
- https://www.rhbgroup.com/mcv/index.html
- https://www.rhbgroup.com/others/service-charges/index.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.
