Best multi-currency business accounts in Malaysia (2025)
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Expanding your business into new markets requires more than ambition — it demands the right financial infrastructure. For Malaysian SMEs, e-commerce sellers, importers, exporters, and businesses working with overseas suppliers, choosing the right multi-currency account in Malaysia is essential.
The right account helps you:
✔ Reduce FX exposure
✔ Receive and hold funds in foreign currencies
✔ Simplify cross-border payments
✔ Pay global suppliers efficiently
✔ Lower the cost of international money transfers
This guide breaks down the top foreign currency accounts in Malaysia, what each bank offers, and why a modern provider like WorldFirst can be a better fit for growing businesses.
What is a multi-currency account?
A multi-currency account is a business account that allows you to hold, manage, send, and receive money in multiple currencies from one platform. This helps SMEs avoid unnecessary conversions, improve cash flow visibility, and pay global partners without running into high bank fees.
Businesses that typically use multi-currency accounts include:
- Cross-border e-commerce sellers
- SMEs paying suppliers in China, US, EU
- Import/export companies
- Remote-team organisations
- Agencies working with overseas clients
A multi-currency business account reduces friction — especially if you’re handling international money transfers, converting currencies frequently, or making continuous cross-border payments.
Comparison of multi-currency business accounts in Malaysia
Here’s a snapshot of what various banks and providers in Malaysia offer:
| Provider | Currencies Supported | Minimum Deposit | Debit Card | Annual Fees | Suitable For |
|---|---|---|---|---|---|
| RHB | 33 | USD 200 equiv. | Yes | Yes (card, ATM, FX) | Businesses needing wide currency support + flexibility |
| Hong Leong | 10 | Min. deposit subject to currency | No | RM30 bi-annually + RM10 txn fee | Personal/business with overseas transactions |
| Public Bank | 12 | USD 1,000 equiv. | No | RM30 annually + txn fees | Business or savings (no daily usage needed) |
| Maybank | 16 | USD 1,000 equiv. | No | Per txn fees apply | Holding and hedging foreign currencies |
| CIMB | 13 | USD 500 equiv. | No | Low fees | Simple FX transfers for businesses |
| HSBC | 12 | USD 1,000 equiv. | No | Fall-below fees apply | High-volume international payments |
| WorldFirst | 15+ | None | No | No monthly fees | SMEs and e-commerce businesses needing FX + cards |
Note: Information accurate at time of publication. Visit individual websites for the latest information.
Exploring individual options
RHB Multi-Currency Account
Official page: https://www.rhbgroup.com/products-and-services/personal/accounts/multi-currency-account
RHB offers one of the most extensive multi-currency banking solutions among Malaysian banks, supporting 33 different currencies including USD, EUR, GBP, SGD, AUD, and popular Asian currencies. For SMEs dealing with a diverse set of overseas markets, this can be a major advantage.
Businesses can hold foreign currency deposits, perform internal transfers, and use the linked RHB multi-currency debit card for international travel or online payments. RHB also allows businesses to convert foreign currency into MYR whenever needed, which may be useful for importers or international distributors.
However, SMEs should note:
- A minimum deposit of USD 200 (or equivalent) is required.
- Fees apply for card issuance, annual card charges, ATM withdrawals, and international use.
- A 1% foreign transaction fee is charged when spending in a currency not held in your account.
Still, for businesses with complex cross-border needs, RHB provides an accessible, bank-reliant structure with wide currency flexibility.
Hong Leong Foreign Currency Account
Official page: https://www.hlb.com.my/en/personal-banking/deposits/foreign-currency-account.html
Hong Leong’s foreign currency account is targeted toward businesses and individuals managing frequent overseas transactions, especially those handling tuition fees, trade payments, or overseas investments.
The account allows businesses to hold 10 major currencies, including USD, CAD, AUD, GBP, CNH, EUR, HKD, JPY, NZD, and SGD. Hong Leong also offers preferential exchange rates for certain currencies, which can benefit businesses converting regularly.
However, this account comes with structural limitations:
- A minimum opening deposit is required for each currency type.
- Businesses pay RM30 every six months, even if the account is not actively used.
- A RM10 fee applies to each transaction (incoming or outgoing).
- No debit card or ATM access is provided.
This account works best for businesses that treat foreign currencies as savings or hedging reserves — not for day-to-day cross-border payments.
Public Bank Foreign Currency Current Account
Official page: https://www.pbebank.com/Personal-Banking/Deposits/Foreign-Currency-Accounts/Foreign-Currency-Current-Account
Public Bank offers a multi-currency account designed more for storage than for frequent usage. Supporting 12 foreign currencies, this account is ideal for SMEs that need a foreign currency “parking space” before paying suppliers or vendors.
Currencies supported include USD, GBP, AUD, NZD, EUR, JPY, HKD, CHF, SGD, THB, CNY, and CAD. The account requires an initial deposit of USD 1,000, but there is no ongoing minimum balance requirement — a rare benefit compared to other banks.
Limitations to note:
- No debit card, ATM, or cheque book is provided.
- Annual maintenance fee of RM30.
- Transaction fees are currency-dependent (e.g., USD 1–5 per outgoing transfer).
Public Bank suits SMEs who plan to hold FX balances, transfer occasionally, and prioritise stability over a modern payment experience.
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.
Maybank Master Foreign Currency Account
Official page:
https://www.maybank2u.com.my/maybank2u/malaysia/en/personal/accounts/master_foreign_currency_account.page
Maybank’s Master Foreign Currency Account is one of the most recognised options in Malaysia and is geared toward businesses wanting to hold and manage balances in 16 different currencies. This includes USD, GBP, EUR, AUD, SGD, NZD, and selected Asian currencies.
SMEs typically use this account to:
- Hold balances for trade settlements
- Manage foreign currency receivables
- Hedge against exchange rate fluctuations
- Pay overseas suppliers via Maybank branches
However, there are important barriers:
- Minimum deposit of USD 1,000 or equivalent
- No linked debit card
- No ATM withdrawals
- Per-transaction fees of around USD 4
- Requires physical branch processes for some actions
This account is more suitable for established SMEs that prioritise hedging and foreign currency holding rather than seamless cross-border payment flows.
CIMB Foreign Currency Current Account
Official page: https://www.cimb.com.my/en/personal/day-to-day-banking/current-account/fcca.html
CIMB offers a straightforward multi-currency account supporting 13 major currencies such as USD, EUR, GBP, SGD, AUD, and CNH. Designed primarily for foreign currency payments rather than everyday spending, it helps businesses manage tuition, rentals, global invoices, or supplier payments.
Key details include:
- Minimum opening deposit of USD 500
- No interest paid on balances
- No debit card or cheque book
- Electronic transfers only
- Low handling fees (around USD 2 per outward transaction)
For SMEs with simple FX requirements and who prefer a clean, low-cost bank option, CIMB is reliable — but lacks modern features for e-commerce or frequently shifting FX movements.
HSBC CombiNations Account
Official page: https://www.hsbc.com.my/accounts/products/combinations/
HSBC positions itself as a global banking partner, and the CombiNations Account reflects this angle. With the ability to hold 12 currencies, it is well-suited for high-volume businesses, exporters, or companies with global supply chains.
However, HSBC sets stricter requirements:
- Minimum deposit of USD 1,000 or equivalent
- Fall-below fees if your combined balance drops under RM20,000
- Rates and fees tend to be higher than local banks
- No debit card for multi-currency access
This account is best for SMEs that value HSBC’s global connectivity but are comfortable with higher fee structures.
Why consider WorldFirst? (Expanded)
Official page: https://www.worldfirst.com/
For SMEs looking for a modern, fast, and cost-efficient alternative to banks, WorldFirst offers a multi-currency business account specifically built for cross-border commerce.
With a World Account, businesses can:
✔ Hold 15+ currencies in one account
Including USD, EUR, GBP, AUD, CNH, SGD, HKD, JPY and more.
✔ Send international money transfers at competitive FX
WorldFirst offers institution-grade exchange rates without hidden markups.
✔ Make cross-border payments to over 180 countries
Including key manufacturing markets like China, Vietnam, Thailand, and the US.
✔ Use the virtual World Card
Spend in 150+ currencies, earn up to 1% cashback, and set smart departmental spending limits.
✔ Pay Chinese suppliers in CNH or USD
Simply add your supplier, input the invoice details, and schedule the transfer.
Learn more in our guide: “How to pay suppliers in China with WorldFirst.”
✔ No minimum deposits, no monthly fees
Unlike traditional foreign currency accounts in Malaysia.
WorldFirst is purpose-built for real business use cases that banks often overlook — fast-moving SMEs, e-commerce brands, and cross-border sellers with dynamic currency needs.
Stay on top of your global cash flow
Managing foreign currencies shouldn’t slow your business down. With WorldFirst, you can hold funds, convert currencies at competitive rates, pay global suppliers, streamline expenses with World Cards, and manage all your cross-border payments in one place.
Ready to take your business global?
👉 Register for a World Account today.
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