Best multi-currency accounts in Malaysia [2026]
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Looking for the right multi-currency account in Malaysia? We compare seven options based on fees, features and supported currencies.
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.
Key takeaways
- A multi-currency account lets businesses hold, send and receive funds in multiple currencies which can be useful for paying overseas suppliers and collecting from international customers
- Multi-currency accounts in Malaysia are offered by both international payments providers and traditional banks
- The number of supported currencies varies widely per account
- Some providers require a minimum deposit; others are free to open with no minimum balance
- The World Account is a multi-currency account that lets businesses hold, send, receive and convert funds across major currencies from a single platform
Imagine you have a business in Malaysia selling to customers in the US. When those customers pay you in USD, the funds land in your ringgit business account and are automatically converted into MYR at the bank’s quoted rate, often with a transaction fee attached.
Later in the month, you need to pay Amazon seller fees, SaaS subscriptions, and Meta or Google ads, all of which are billed in USD. So you convert MYR back into USD, paying another round of FX markup and another set of transaction fees. The same money has now been converted twice, and the markup on both legs has come out of your profit margin.
This is where multi-currency accounts can make a big difference. They let you hold and manage money in multiple currencies, so you can pay suppliers and platforms in the same currency your customers pay you in, reducing the need for conversions. These accounts also often offer competitive exchange rates and the flexibility to convert when rates are favourable.
This guide covers everything you need to know about multi-currency accounts and breaks down the best multi-currency accounts for Malaysian businesses. Let’s take a look.
What is a multi-currency account?
A multi-currency account lets businesses transact, hold and manage multiple currencies from a single account. Unlike a standard ringgit current account, which converts foreign currency receipts to MYR on arrival, a multi-currency account lets you keep funds in the original currency until you choose to convert or spend them.
In Malaysia, multi-currency accounts come in two main forms:
- Business bank accounts offered by banks
- Business accounts offered by international payments providers
The right option depends on the currencies you handle, how often you transact, and whether you need supporting tools like marketplace integration.
How does a multi-currency account work?
A multi-currency account works like a regular business account, but instead of holding a single currency, you can hold several.
Here’s how it typically plays out for a Malaysia-based business:
- When a customer in the US pays you in USD, the funds land in your USD currency account rather than being converted to MYR on arrival.
- You can hold that USD, use it to pay a US-based supplier or SaaS subscription, or convert it to MYR when the rate suits you
- When you need to pay a supplier in China in CNH, you can either convert from a held balance (USD, MYR or another currency), use existing CNH funds, or convert MYR into CNH at competitive exchange rates. Paying in the supplier’s local currency typically clears faster and avoids the markup banks apply when forcing a double conversion
- Online sellers can add the local currency account details to your Amazon, Alibaba or TikTok Shop seller account, and marketplace payouts land directly in the matching currency balance with no forced conversion.
Top multi-currency accounts in Malaysia
1. WorldFirst
WorldFirst is an international payments provider built specifically for businesses managing cross-border payments. The World Account is a multi-currency account that lets businesses hold, send, receive and convert funds in 20+ currencies from a single platform, with no setup fee and no monthly fee.
Collect from marketplaces: Businesses can receive international payments at zero fees and with no minimum balance, and collect from 130+ marketplaces including AliExpress, Alibaba and TikTok Shop. It’s possible to hold collected funds in the original currency, convert at competitive real-time rates, or use them for outgoing payments.
International payments and FX tools: You can 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, lets businesses pay suppliers in CNH directly from the platform.
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.
2. CIMB Multi Currency Account
The CIMB Multi Currency Account (MCA) is a multi-currency bank account available to business enterprises operating in Malaysia.1 It supports up to 14 currencies in one account including MYR, USD, GBP, JPY, AUD, NZD, SGD, CHF, EUR, CAD, HKD, CNY, THB and IDR.1
It comes in two variants: Trade MCA and Investment MCA. Each account covers a different use case.1
Deposits and withdrawals are managed via foreign telegraphic transfers or transfers to and from a ringgit account.1
| Fees | CIMB Multi Currency Account1,2 |
|---|---|
| Minimum initial deposit | USD 500 or equivalent |
| Half-yearly service charge | USD 10 or RM equivalent |
| Supported currencies | 14, including MYR, USD, GBP, EUR, AUD, CNY |
3. RHB Multi Currency Account
The RHB Multi Currency Account supports up to 33 foreign currencies in a single account and it can be managed through RHB Online Banking.3
The RHB Multi Currency Account rate can usually include a markup on the live exchange rates.3
There are two types of deposit accounts: Call Deposit (minimum USD 200) and Term Deposit (minimum USD 2,000).3
| Fees | RHB Multi Currency Account3 |
|---|---|
| Minimum deposit | Call Deposit account: USD 200 or equivalentTerm Deposit account: USD 2,000 or equivalent |
| Service charge | Not specified |
| Supported currencies | 33 |
4. Public Bank Foreign Currency Current Account
Public Bank offers two foreign currency current account options:4
- PB Foreign Currency Current Account (PB FCY CA) holds a single currency per account
- PB Multi Foreign Currency Current Account (PB MFCA) holds up to 12 foreign currencies in one account4
| Fees | Public Bank PB MFCA4 |
|---|---|
| Minimum initial deposit | USD 1,000 or equivalent |
| Service charge | Not specified |
| Supported currencies (PB MFCA) | Up to 12 |
5. Maybank Master Foreign Currency Account-i
The Shariah-compliant Master Foreign Currency Account-i (MFCA-i) is based on the Qard (loan) contract and is available in more than 10 major currencies.5 Maybank doesn’t publish the exact currency list, so confirm directly before opening.5
A conventional version (MFCA, without the Shariah-compliant structure) is also available.
| Fee | Maybank MFCA-i5 |
|---|---|
| Minimum initial deposit | Not specified |
| Service charge | USD 4 or equivalent per credit/debit transaction |
| Supported currencies | More than 10 (specific list not published) |
6. Wise (Malaysia)
Wise in Malaysia offers personal accounts only. Wise Business is not available in this market.6,7 Personal account holders can set up local currency account details in 23 currencies, send to 106 currencies, and hold funds in multi-currency balances.7
For businesses comparing Wise as a multi-currency option in Malaysia, the key fact is that this is a personal product without business-specific features like multiple cards, bulk payments or marketplace integration tools that Wise offers in other markets.
| Fees | Wise Malaysia8 |
|---|---|
| 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% |
7. Airwallex
| 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
Take your business global with the right multi-currency account
The right multi-currency account depends on your trade footprint and what you need it to do. Bank-issued multi-currency accounts from CIMB, RHB, Maybank and Public Bank suit businesses that already bank with these institutions and want foreign currency holding as an add-on to their existing relationship. Many business bank accounts may even require minimum deposits.
For businesses focused on cross-border payments, a multi-currency account like WorldFirst sits alongside (not instead of) a bank account, handling the international side at competitive rates.
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.
Sources:
- https://www.cimb.com.my/en/business/business-day-to-day/deposit-investments/current-account/multi-currency-account.html
- https://www.cimb.com.my/en/business/help-and-support/rates-charges/interest-rates-charges/fees-charges/current-account.html
- https://www.rhbgroup.com/personal/deposits/multi-currency-account/overview/index.html
- https://www.pbebank.com/en/banking/foreign-currency-accounts/foreign-currency-current-account/
- https://www.maybank2u.com.my/maybank2u/malaysia/en/business/deposits/deposit_account/master_foreign_currency_account_i.page
- https://wise.com/my/send-money/
- https://wise.com/my/receive-money/
- https://wise.com/my/pricing/
- https://www.airwallex.com/my/
- https://www.airwallex.com/my/pricing
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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