Best business bank accounts in Malaysia [2026]
Looking for the best business bank account Malaysia has to offer? This guide breaks down the key features, fees and benefits of seven leading options to simplify your decision.
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Key takeaways
- A business bank account helps separate business and personal transactions, simplify reporting, and access banking facilities like overdrafts and bulk payments
- Key features to compare include monthly fees, minimum deposits, international transaction costs and online banking access
- Some Malaysian banks specialise in branch-based banking, while others focus on fully digital onboarding for SMEs and sole proprietors
- Multi-currency accounts like the World Account allow global businesses to open 20+ local currency accounts
Running a business in Malaysia means dealing with a long list of moving parts such as separating personal and business cash flow, paying suppliers, collecting payments from customers, managing payroll, and even handling cross-border transactions if your customers or suppliers sit overseas. Trying to do all of that through a personal account can make things even more complicated for bookkeeping and tax filing. Your credibility can also get affected when dealing with vendors.
A dedicated business bank account separates business cash flow from personal, gives you cleaner records for tax filing, and offers business-specific tools such as overdraft facilities, bulk payments and merchant collection.
But a business bank account can only be useful when you can find the right one. This guide breaks down seven leading business bank accounts in Malaysia.
What is a business bank account?
A business bank account is designed to handle business-related transactions separately from personal banking. It helps protect those transactions, simplify bookkeeping, and make integration with accounting and reporting tools easier.
In Malaysia, business banking options include conventional and Shariah-compliant current accounts at established banks to fully digital accounts aimed at sole proprietors and SMEs. Depending on the provider, benefits can include overdraft facilities, multi-currency support, online banking platforms, and integration with accounting software.
Types of business bank accounts in Malaysia
Here are the main types of business accounts available in Malaysia:
- Business current accounts: These handle daily operations and usually come with cheque books and online banking.
- Shariah-compliant business accounts: These are structured under Islamic contracts such as Commodity Murabahah or Qard. Basically these accounts offer equivalent functionality to conventional current accounts within Shariah principles.
- Foreign currency accounts: These accounts allow users to hold different currencies such as USD, GBP, EUR or SGD. Foreign currency accounts may only allow you to hold one type of currency.
- Multi-currency accounts: Offered by payments providers, these let businesses hold, send and receive in multiple currencies from a single account. Multi-currency accounts can be useful for online sellers, exporters and importers managing frequent cross-border activity
- Digital business accounts: These are SME-focused bank accounts that can be opened entirely online, often with no minimum balance and lower service charges. These suit freelancers, sole proprietors and small businesses.
Key features to look for in a business bank account
Business bank accounts vary, but these are the key features to check:
Monthly fees and minimum balances: Some accounts have no monthly fee but charge a half-yearly service fee if the balance drops below a threshold. Others have no fees at all.
Domestic and international transaction fees: Look at the cost of sending payments, both within Malaysia and abroad. International transfers often carry a transaction fee over the currency exchange markup.
Multi-currency support: If you deal with overseas customers or suppliers, the ability to hold and transact in multiple currencies can give you more control over currency rate fluctuations.
Online banking and mobile app: Most Malaysian banks now offer dedicated business platforms but make sure to test the mobile apps to confirm whether they support the actual workflows you use.
Account opening process: Some accounts can be opened entirely online; others require a branch visit. SSM registration and director identification are standard requirements.
Top business accounts in Malaysia
1. Maybank Corporate Current Account
Maybank’s Corporate Current Account (CCA) is a conventional business current account for everyday banking needs such as domestic transfers, payments, collections, and overdraft facilities (subject to eligibility).1
Sign-up is available online, though a branch visit may still be required to activate the account.1
Internet banking is supported through Maybank2uBiz and Maybank2E apps.1
A debit card option is also available with the SME Visa Platinum Debit Card.1
| Fee type | Maybank Corporate Current Account1 |
|---|---|
| Service charge | RM10 per half year, waived for an average monthly balance of RM1,000 or above |
| Minimum deposit | RM2,000 |
2. CIMB Business Current Account
CIMB’s Business Current Account is a conventional current account managed through the CIMB OCTO Biz online platform.2 It’s open to a range of business types including sole proprietorship, partnerships, Limited Liability Partnerships (LLPs), Sendirian Berhad and Berhad, with online account opening available for eligible entities.2
Day-to-day banking, transfers and bill payments are handled through the banking app, with complimentary monthly statements included.2
| Fee type | CIMB Business Current Account² |
|---|---|
| Service charge | RM10 per half year for an average credit balance below RM1,000 |
| Minimum initial deposit | RM3,000 (most company types); RM1,000 (associations, clubs and societies) |
3. OCBC eBiz Account
OCBC’s eBiz Account is a 100% digital business account for SMEs.3 Initial deposit is RM500, account opening is fully online via eKYC verification, and the account is typically active within one to two working days.3
It’s open to businesses registered with Suruhanjaya Syarikat Malaysia (SSM), wholly owned by Malaysians and Singaporeans, with a sole proprietor or up to two partners or directors.3 The OCBC Business Debit Card can be linked to the account, and OCBC Velocity provides internet banking with live FX rates and contract booking.3
| Fee type | OCBC eBiz Account3 |
|---|---|
| Half-yearly service charge | RM10 if the average balance falls below RM1,000 |
| Initial deposit | RM500 |
4. GXBank BizAccount
GXBank’s BizAccount is a fully digital business bank account for SSM-registered sole proprietors.4 It can be opened through the GXBank app and it comes with no monthly fees or maintenance fees.4
| Fee type | GXBank BizAccount⁴ |
|---|---|
| Service charge | Zero |
| Initial deposit | Not specified |
5. Hong Leong PrimeBiz Current Account/-i
| Fee type | HLB PrimeBiz Current Account 5,6 |
|---|---|
| Service charge | RM10 per half year if average balance falls below RM1,000 |
| Initial deposit | Not specified |
6. RHB Business Current Account
RHB’s Business Current Account is designed for day-to-day business operations and cash flow tracking.7 Initial deposit is RM1,000 for sole proprietorships and RM3,000 for businesses and companies.7
The account can also be directly integrated with accounting and HR/payroll software.7
| Fee type | RHB Business Current Account⁷ |
|---|---|
| Service charge | Not specified |
| Initial deposit | RM1,000 (sole proprietorships); RM3,000 (businesses and companies) |
7. UOB Basic Current Account
UOB’s Basic Current Account is an SME banking account for day-to-day transactions, with free monthly statements and access to UOB Infinity and the UOB SME App for 24-hour electronic banking.8 The minimum initial deposit for the account is RM100.8
| Fee type | UOB Basic Current Account8 |
|---|---|
| Service charge | RM10 if average balance is less than RM1,000 |
| Initial deposit | RM100 |
*Fees checked in June 2026
World Account: A business account built for global trade
WorldFirst is an international payments provider that helps businesses in Malaysia manage cross-border payments.
The World Account is a multi-currency account that lets businesses hold, send, receive and convert funds across major currencies from a single online platform, with no setup or monthly fees.
The World Account isn’t designed to replace your traditional business bank account. Overdrafts, cheque books and local branch services still sit with the bank.
World Account adds the global trade side: 20+ local currency accounts as part of the World Account, so customers, marketplaces and suppliers abroad can pay you (and you can pay them) without forcing every transaction through FX conversions.
You can open a World Account online in minutes, get local account details in 20+ currencies, collect from 130+ marketplaces and send payments in 100+ currencies to 200+ countries and regions. 1688.com supplier payments run through World Pay, the authorised international payment provider for 1688.com.
One account to manage global payments
Pay your suppliers around the world. Collect payments for free in 20+ currencies. Convert when it suits you. All in one place.
FAQs
What's the process for opening a business bank account in Malaysia?
Most banks require business registration documents, identification for sole proprietors or directors, a minimum initial deposit and supporting documents like utility bills. The exact company bank account opening requirements vary by bank, some allow fully online onboarding, others require a branch visit.
Can I open a business bank account online?
Yes, several Malaysian banks now support online opening for eligible business types, including OCBC eBiz, GXBank, HLB PrimeBiz, and CIMB’s online accounts. Some accounts still require a branch visit to activate.
Can bank accounts in Malaysia support international transactions?
Most do, through foreign telegraphic transfers. International transfers typically attract separate fees, plus intermediary or beneficiary bank fees.
References
- https://www.maybank2u.com.my/maybank2u/malaysia/en/business/deposits/deposit_account/corporate_current_account.page
- https://www.cimb.com.my/en/business/business-day-to-day/deposit-investments/current-account/online-business-current-account.html
- https://www.ocbc.com.my/business-banking/smes/accounts/ebiz
- https://gxbank.my/bizaccount
- https://www.hlb.com.my/en/business-banking/business-and-corporate-banking/deposits/current-account/primebiz-current-account.html
- https://www.hlb.com.my/en/personal-banking/help-support/fees-and-charges/deposits.html
- https://www.rhbgroup.com/business/sme-banking/deposits/current-account/index.html
- https://www.uob.com.my/business/accounts/basic-current-account.page
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.
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