CIMB business account review [2026]: Features, fees & more
Take a look at this review of CIMB business accounts, covering account types, fees and features
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
- CIMB offers business current accounts including the Business Current Account, the Shariah-compliant Business Current Account-i, and the Foreign Currency Current Account
- The Business Current Account requires a minimum initial deposit of RM3,000 for most company types, and RM1,000 for associations, clubs and societies
- CIMB business current accounts have no annual fee, though there’s usually a service charge attached
- The foreign currency current account lets businesses hold 13 currencies, including USD, GBP, EUR and SGD
- WorldFirst is an alternative that lets businesses set up a multi currency account in 20+ currencies, including USD, CNH, GBP, EUR and AUD, for free
CIMB offers several business current accounts in Malaysia, covering conventional banking, Shariah-compliant banking and foreign currency holdings.
In this review, we take a look at each CIMB business account and the services it provides. We also compare CIMB with WorldFirst so you can choose the right foreign currency account for your global business.
What is a CIMB business account?
CIMB is a Malaysian bank that offers business banking through its branch network and the CIMB OCTO Biz online platform.1 Its business account range covers both domestic current accounts and foreign currency current accounts.
Different types of CIMB business accounts
CIMB offers three main business accounts, each suited to different needs. Here are the top CIMB business accounts more suited for businesses.
Business Current Account
This is a conventional business current account for everyday banking needs, including domestic transfers, payments and collections.1
Main features of the Business Current Account1
- Online account opening available for eligible business types
- Manage banking transactions, transfers and bill payments online through the CIMB app
- Complimentary monthly statements
Fees1: No annual fee, but there’s a RM10 half-yearly service charge for accounts with an average credit balance below RM1,000. Minimum initial deposit of RM3,000 for most company types, or RM1,000 for associations, clubs and societies. RM15 account opening search fee (not applicable for individuals and SMEs)
Business Current Account-i
This is a Shariah-compliant business current account which can be opened online from anywhere.2
Main features of the Business Current Account-i2
- Shariah-compliant business current account
- Online account opening available
- Same-day account number issuance once the application is completed at a CIMB branch
- Manage banking via CIMB OCTO Biz with complimentary monthly statements
Fees²: No annual fee. RM10 half-yearly service charge for accounts with an average credit balance below RM1,000. RM15 account opening search fee (not applicable for individuals and SMEs).
Foreign Currency Current Account (FCCA)
A foreign currency account that lets businesses keep foreign currency for future use and manage exposure to currency fluctuations. It is available to business enterprises operating in Malaysia.3
Main features of the Foreign Currency Current Account3
- Available in 13 currencies including USD, GBP, EUR, SGD, AUD, NZD, JPY, CHF, CAD, HKD, CNY, THB and AED
- Two different account types available: Trade FCCA and Investment FCCA
- Deposits and withdrawals via foreign telegraphic transfers, cheques, demand drafts, or transfers to and from a ringgit account
Fees3,4: Minimum initial deposit of USD 500 or equivalent. USD 10 or RM equivalent half-yearly service charge. Opening requires a Companies Resolution and a Customer’s Declaration.
Quick look: Pros and considerations of a CIMB business account
| Pros | Cons |
|---|---|
| No annual fee on CIMB business current accounts | A minimum initial deposit of RM3,000 applies to most business accounts1 |
| A Foreign Currency Current Account is available in 13 currencies3 | The Foreign Currency Current Account requires a lot documentation3 |
CIMB business account fees: The breakdown
CIMB’s three business accounts share some fee structures and differ on others. Take a look at how the fees compare:
| Fee type | Business Current Account1 | Business Current Account-i2 | Foreign Currency Current Account3,4 |
|---|---|---|---|
| Annual fee | Zero | Zero | Zero |
| Minimum initial deposit | RM3,000 (most company types); RM1,000 (associations, clubs and societies) | Not specified | USD 500 or equivalent |
| Service charge | RM10 per half year for an average credit balance below RM1,000 | RM10 per half year for an average credit balance below RM1,000 | USD 10 or RM equivalent per half year |
| Account opening search fee | RM15 (not applicable for individuals and SMEs) | RM15 (not applicable for individuals and SMEs) | Not specified |
| FX rates and conversion margins | Per CIMB FX rates | Per CIMB FX rates | Per CIMB FX rates |
*Fees checked in June 2026
How to open a CIMB business account
If you’re looking into how to open a business bank account with CIMB, here’s how the process works:
- Step 1: Choose the account type and apply online or at a CIMB branch1,2
- Step 2: Place the minimum initial deposit, which can be different for different accounts
- Step 3: Complete the required documents and set up the account1
Standard business bank account requirements apply, including business registration documents and director details.
CIMB business bank account alternative: WorldFirst
WorldFirst is an international payments provider built specifically for cross-border trade. The World Account is a multi-currency account that lets businesses open local currency accounts in 20+ currencies including USD, GBP, EUR, AUD, NZD, CNH, and more. Businesses can hold, send, receive and convert funds across major currencies through a single platform.
The account can be set up entirely online in minutes, with zero setup and monthly fees,
Here are some of the features that may suit businesses looking to compare business bank accounts with an international payment provider
A multi-currency account built for global collections
You can open local account details in 20+ currencies and receive international payments with zero receiving fees and no minimum balance. The World Account also plugs directly into 130+ marketplaces such as Lazada and Shopee and TikTok Shop among them, so marketplace earnings land in one place. Hold those funds in the original currency until you need them, then convert at competitive real-time rates or use them for outgoing payments.
Send money across 200+ countries
Send funds in 100+ currencies, with most payments arriving within hours rather than days.
Pay 1688 suppliers
For sourcing in China, the World Account includes a CNH local currency account, and World Pay is the authorised international payment provider for 1688.com, meaning businesses can settle with suppliers in CNH straight 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.
CIMB business account or WorldFirst: which suits your business?
If you mainly operate in ringgit, paying local suppliers, collecting from Malaysian customers, needing cheques or overdrafts, a traditional business bank account will likely be good enough to manage day-to-day banking.
But if you’re selling on overseas marketplaces, paying suppliers in China, or trying to work out which bank account is best for online business in Malaysia when most transactions are international, it’s worth considering a multi currency account.
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.
References
- https://www.cimb.com.my/en/business/business-day-to-day/deposit-investments/current-account/online-business-current-account.html
- https://www.cimb.com.my/en/business/help-and-support/rates-charges/rates-charges/fees-charges/current-accounts-i.html
- 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
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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