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Best foreign currency accounts in Malaysia [2026]

Last update: July 7, 2026

Contents

Looking for the best foreign currency account for fast and easy cross-border payments? This guide compares top options available to businesses and individuals in Malaysia

Key takeaways

A foreign currency account lets you hold, send, and receive funds in currencies other than the domestic currency
Malaysian banks like Maybank, CIMB, HSBC, Public Bank and Hong Leong all offer foreign currency current accounts
Some accounts hold a single currency per account; others let you hold multiple currencies with the same account
International payments providers like WorldFirst offer multi-currency alternatives with no minimum deposit and broader marketplace integration

Going global from Malaysia means dealing with at least one currency other than ringgit. Your Chinese suppliers invoice you in CNH or USD, your Australian customers pay you in AUD, and your US-based SaaS tools charge you in USD every month–none of these naturally fit into a ringgit account.

A foreign currency account lets you hold each foreign currency separately, so you can receive, send and spend in the currency the transaction is actually in. There is no automatic conversion on every transaction, no double markup when funds need to flow back out.

This guide breaks down the best foreign currency accounts in Malaysia.

What is a foreign currency account?

A foreign currency account holds funds in a currency other than your home currency. For Malaysian businesses, that usually means an account holding USD, GBP, EUR, SGD, AUD or another major foreign currency, separate from a standard ringgit current account.

You can use a foreign currency account to hold payments received from international customers without immediate conversion to MYR. The collected funds can then be used to pay overseas suppliers in their local currency or you can even hold funds and convert them later when exchange rates move in your favour.

Without a foreign currency account, foreign currency funds go directly to a standard ringgit account and get converted at the bank’s prevailing rate on arrival, and there’s no way for business to control or time the currency exchange.

In Malaysia, foreign currency accounts come from two sources: established banks and international payments providers.

Top foreign currency accounts in Malaysia

1. WorldFirst

WorldFirst is an international payments provider built for businesses managing cross-border payments. The World Account is a multi-currency account that lets businesses hold, send, receive and convert funds across major currencies, with no setup fee and no monthly fee.

Local currency accounts in 20+ currencies

You can open local currency accounts in 20+ currencies with a single World Account at zero fees with no minimum balance required.

Collect from 130+ marketplaces and payment gateways

Using the local currency account details, you can collect payments from 130+ global marketplaces and payment gateways, including AliExpress, Alibaba and TikTok Shop. Funds land directly in the matching currency balance, so there’s no forced conversion on arrival.

Send international payments

Send payments in 100+ currencies to 200+ countries and regions, with funds typically arriving within hours.

Payments to China

WorldFirst offers a CNH local currency account and World Pay, the authorised international payment provider for 1688.com. Businesses can pay suppliers in CNH directly from the platform, without a separate banking relationship in China.

2. HSBC Foreign Currency Account (CombiNations Account)

The HSBC Foreign Currency Account, also called the CombiNations Account, holds up to 12 foreign currencies in one account.¹ The supported currencies include USD, GBP, AUD, SGD, EUR, JPY, BND, CAD, CHF, NZD, HKD and CNY.¹

HSBC positions this account for individuals and not necessarily for businesses.¹ Funds are accessible via HSBC online banking, and the account offers low minimum balance requirements.¹

Fees	HSBC CombiNations Account¹
Minimum initial deposit	Not specified
Service charge	Not specified
Supported currencies	12 (USD, GBP, AUD, SGD, EUR, JPY, BND, CAD, CHF, NZD, HKD, CNY)

3. Maybank Master Foreign Currency Account-i (MFCA-i)

The Maybank’s Master Foreign Currency Account-i (MFCA-i) is a Shariah-compliant foreign currency account based on the Qard (loan) contract.² It’s available in more than 10 major currencies, though Maybank doesn’t publish the exact currency list.²

A conventional version of the Master Foreign Currency Account (without the Shariah-compliant structure) is also available.

Fees	Maybank MFCA-i²
Minimum initial deposit	Not specified
Service charge	Not specified
Supported currencies	10+ currencies (Maybank does not share the exact list of currencies on its website)

4. CIMB Foreign Currency Current Account (FCCA)

The CIMB Foreign Currency Current Account (FCCA) is available to business enterprises operating in Malaysia. It supports over 13 currencies including USD, GBP, EUR, SGD, AUD, NZD, JPY, CHF, CAD, HKD, CNY, THB and AED.³

The foreign currency current account comes in two variants : Trade FCCA and Investment FCCA.

Fees	CIMB FCCA^3,4
Minimum initial deposit	USD 500 or equivalent
Service charge	USD 10 or RM equivalent
Supported currencies	13 currencies

5. Public Bank Foreign Currency Current Account

The PB Foreign Currency Current Account (PB FCY CA) holds a single currency per account, suited to businesses that don’t transact in multiple currencies.⁵

Fees	Public Bank PB FCY CA⁵
Minimum initial deposit	USD 1,000 or equivalent
Service charge	Not specified
Supported currencies (PB FCY CA)	Single currency per account

6. Hong Leong Bank Foreign Currency Account

The Hong Leong foreign currency account supports 10 currencies and is open to both individuals and companies.⁶ Each foreign currency account is linked to a specific currency, so businesses needing multiple currencies would open separate accounts for each.

Fees	Hong Leong Bank Foreign Currency Account⁶
Minimum initial deposit	Varies by currency (e.g. USD 5,000 for USD account)
Service charge	Not specified
Supported currencies	10

7. Wise (Malaysia)

Wise in Malaysia offers personal accounts only. Wise Business is not available in this market.^7,8 For individuals, personal account holders can set up local currency account details in 23 currencies, send to 106 currencies, and hold funds in multi-currency balances.⁸

Fees	Wise Malaysia⁹
Monthly fee	Zero
Opening a multi-currency account	Personal account only; Wise Business not available
Receiving funds	Free for AUD, CAD, EUR, GBP, HUF, NZD, RON, SGD, TRY, USD (non-wire) SWIFT fees vary for each currency
Holding funds in multiple currencies	Zero
Sending payments	From 0.77%
Currency conversion	From 0.77%

8. Airwallex Malaysia

Airwallex offers a multi-currency business account opened online, holding balances across 20+ currencies with no minimum opening deposit and no monthly account fee.¹⁰

Fees	Airwallex¹⁰
Monthly fee	Zero
Opening a multi-currency account	Zero
Receiving funds	Free SWIFT fees vary for each currency
Holding funds in multiple currencies	Zero
Sending payments	Local transfers: FreeInternational transfers: RM30-RM90 for SWIFT transfer methods (SHA and OUR)
Currency conversion	Not specified

*Fees checked in June 2026

Choose the right foreign currency account for your business

If your business operates in one foreign market, holding a single foreign currency account may be enough. If you’re expanding across multiple regions, holding several currencies across different accounts can become a struggle. Each new currency means another account to open, another deposit to fund, and another set of fees to track.

A multi-currency account like the World Account from WorldFirst brings 20+ currencies together under one platform, so you can hold, convert and pay in whichever currency the transaction is in. It sits alongside your existing domestic bank account, handling the cross-border side.

FAQs

How do I open a foreign currency account in Malaysia?

The process for how to open a foreign currency account in Malaysia depends on the provider you choose. Most banks require business registration documents, identification for sole proprietors or directors, board resolutions for companies, and a minimum initial deposit. Some banks require a branch visit; others let you apply online. Payments providers typically offer a fully online onboarding process with no minimum deposit required.

What is the minimum deposit needed to open a foreign currency account in Malaysia?

Minimum deposits vary by provider. Bank-issued foreign currency current accounts typically require USD 500 to USD 5,000 to open, depending on the bank and the currency chosen.

Can individuals open a foreign currency account in Malaysia, or are they restricted to businesses?

Eligibility depends on the provider. Some foreign currency current accounts are available to both individuals and businesses, residents and non-residents. Others are restricted to registered Malaysian businesses or specific company types. You should make sure to confirm eligibility with each provider before applying.

References

https://www.hsbc.com.my/accounts/products/foreign-currency/
https://www.maybank2u.com.my/maybank2u/malaysia/en/business/deposits/deposit_account/master_foreign_currency_account_i.page
https://www.cimb.com.my/en/business/business-day-to-day/deposit-investments/current-account/foreign-currency-current-account.html
https://www.cimb.com.my/en/business/help-and-support/rates-charges/interest-rates-charges/fees-charges/current-account.html
https://www.pbebank.com/en/banking/foreign-currency-accounts/foreign-currency-current-account/
https://www.hlb.com.my/en/business-banking/business-and-corporate-banking/deposits/foreign-currency/foreign-currency-account.html
https://wise.com/my/send-money/
https://wise.com/my/receive-money/
https://wise.com/my/pricing/
https://www.airwallex.com/my/

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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Best foreign currency accounts in Malaysia [2026]

What is a foreign currency account?

Top foreign currency accounts in Malaysia

1. WorldFirst

2. HSBC Foreign Currency Account (CombiNations Account)

3. Maybank Master Foreign Currency Account-i (MFCA-i)

4. CIMB Foreign Currency Current Account (FCCA)

5. Public Bank Foreign Currency Current Account

6. Hong Leong Bank Foreign Currency Account

7. Wise (Malaysia)

8. Airwallex Malaysia

Choose the right foreign currency account for your business

FAQs

How do I open a foreign currency account in Malaysia?

What is the minimum deposit needed to open a foreign currency account in Malaysia?

Can individuals open a foreign currency account in Malaysia, or are they restricted to businesses?

References

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