Wallex review [2027]: Features, fees and more

Businesses can use Wallex to send and collect funds in multiple currencies. Get the details on Wallex with a breakdown of its services, pricing and key account features

Key takeaways

• Wallex supports international payments in 47 currencies, collections in 36 currencies and a multi-currency wallet for holding up to 13 currencies
• Businesses can make bulk payments to up to 200 beneficiaries, with payment approval workflows and transaction tracking
• World Account provides Malaysian businesses with USD and MYR receiving accounts, multi-currency balances, CNH payments and marketplace collections

Wallex is a cross-border payments provider built for businesses sending and receiving international payments in Malaysia.¹ It supports payments in 47 currencies, foreign currency collections through virtual accounts and a multi-currency wallet for holding up to 13 supported balances.¹

Business features like bulk orders and converting multiple currencies is also supported.^1,2 But, Wallex does not offer virtual cards for spending or mention any of its pricing publicly.³ This guide dives into reviewing Wallex and what it offers along with exploring a multi-currency account by WorldFirst, the World Account.

What is Wallex?

Wallex is a Singapore-based international payments provider that lets businesses collect international payments, send money overseas, convert between multiple currencies and hold them in an e-wallet.^1,2,4  Wallex supports payments in multiple currencies, including USD, EUR, GBP, SGD, MYR, INR, THB, VND, KRW, IDR and HKD.¹

Payments in 20+ currencies can arrive the same day when funds reach Wallex before the applicable cut-off, or within two working days.¹ SGD and IDR payments have an average processing time of under an hour.¹

→ Learn more about how long an international Wire takes to reflect in your account

Quick look: Pros and considerations of Wallex

Key features of Wallex Malaysia

International transfers

Users can send payments in 47 currencies through the Wallex platform.¹ They can also receive international payments from clients and marketplaces in 36 currencies including USD, GBP, EUR, SGD and IDR.¹ Out of these, 13 currencies can be held in an e-wallet and converted or sent to vendors/suppliers when needed.¹ Wallex also provides real-time transaction tracking through the SWIFT GPI tracker.^5,6

Bulk payments

Businesses can pay up to 200 beneficiaries in multiple currencies at once.¹ Wallex lets businesses set payment approval steps, so payments can be reviewed before they are sent and each action is recorded, including for bulk payment batches.^5,7

Multi-currency reporting

Wallex combines international payments and reporting together on one multi-currency platform, allowing businesses to track transactions and reconcile activity across currencies.¹ Its multi-currency wallet can hold multiple currencies, while balances can be converted when required.¹

Payments and collections can also be done in multiple international currencies.¹ For businesses integrating payment infrastructure into their own systems, Wallex also offers APIs covering services such as cross-border payments and global collections.^1,8

Wallex fees in Malaysia

*Fees checked in October 2026

Who is Wallex for?

Wallex is designed for Malaysian SMEs and larger businesses making regular international payments, including supplier, payroll and contractor payments.^1,2  Its currency payment coverage and bulk payment facility can support businesses making multiple overseas payments at once.¹ Its regional currency coverage also includes markets such as, Indonesia, Hong Kong, Singapore and more.²

How to open a Wallex account in Malaysia

1. Create an account: Register through Wallex’s online sign-up process. Registration takes less than five minutes.
2. Provide business information and documents: Wallex requires relevant information and KYB/KYC documents as part of onboarding.
3. Complete verification: The account needs to complete Wallex’s verification process before transactions can be initiated. Once approved, businesses can add beneficiaries, create virtual accounts and set up international payments through the platform.

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

WorldFirst offers Malaysian businesses the World Account, a multi-currency account for receiving, holding, converting and sending business funds in different currencies. Businesses can open local receiving accounts in USD and MYR. These account details let customers, marketplaces and payment platforms send money using local payment routes, rather than requiring each payment to be sent as an international transfer.

Once the money reaches the World Account, the business can keep the balance in the original currency, convert it to another supported currency or use it to make outgoing payments in USD, MYR and CNH. The World Account also supports marketplace collections, allowing businesses to receive payouts from 130+ marketplaces and payment gateways.

Key features of the World Account

• Get paid in USD or MYR directly into your World Account via local receiving accounts
• Hold received funds in USD or MYR without converting them immediately
• Convert between USD, MYR and CNH within the World Account
• Send business payments in USD, MYR or CNH to suppliers and contractors
• Receive marketplace and payment gateway payouts through one account, with support for 130+ platforms including Amazon, TikTok Shop, Shopee, Stripe and more
• Make supplier payments on 1688.com using World Pay, the authorised international payment provider for 1688.com
• Use Firm Orders to lock in an exchange rate for future currency conversion for USD, MYR or CNH payments

FAQs

1. Is Wallex available in Malaysia?

Yes. Wallex launched its business solution for Malaysian companies in 2024 and is licensed as a Class A Money Services Business by Bank Negara Malaysia under licence number 00777.¹

2. What currencies does Wallex support?

Wallex supports international payments in 47 currencies including USD, EUR, GBP and more.¹ Same-day delivery is available for 20+ currencies when funds are received before the applicable daily cut-off.¹

3. How much does Wallex cost?

Wallex has zero monthly subscription or membership fees and charges on a per-transaction basis.⁹ Exact transaction and service-specific charges are not publicly specified on its Malaysia pricing page.

Sources

1. https://www.wallex.asia/en-my
2. https://www.wallex.asia/en-my/business-solutions
3. https://www.wallex.asia/en-my/pricing
4. https://www.wallex.asia/en-my/business-solutions/global-payments
5. https://help.wallex.asia/kb-search-results?q=swift&type=KNOWLEDGE_ARTICLE&groupId=205083869102
6. https://help.wallex.asia/my-beneficiary-have-not
7. https://help.wallex.asia/mt103
8. https://docs.wallex.asia
9. https://help.wallex.asia/do-i-need-to-maintain-a-minimum-balance-in-my-wallex-multi-currency-wallet

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.