See how Revolut Malaysia’s alternatives compare for multi-currency accounts and overseas payments in this guide
Key takeaways
- Revolut is an international payments provider that is not currently available in Malaysia
- Main Revolut alternatives in Malaysia include WorldFirst, Wise, Airwallex, XE, and BigPay
- WorldFirst lets Malaysian businesses receive payments in 20+ currencies, send payments in 100+ currencies and collect from 130+ marketplaces
- Wise personal accounts let Malaysian residents hold 40 currencies, receive with local account details in 20+ currencies and send money to 160+ countries.
- Airwallex provides businesses with local receiving accounts in 20+ currencies and corporate cards
- XE supports payments in 130+ currencies across both personal and business accounts.
- BigPay is an MYR digital wallet for international transfers and card spending. It does not support multi-currency balances.
Revolut is an international payments provider offering multi-currency balances, international card spending and overseas transfers to users across the UK, EU, US, Australia, Singapore, Japan and other markets.¹
It is not currently available in Malaysia. For Malaysian businesses and individuals looking for a similar setup, several providers cover parts of what Revolut offers–some focused on multi-currency accounts for businesses, others on personal international transfers or card spending.
This guide compares Revolut alternatives available in Malaysia including WorldFirst, a cross-border payments provider.
What is Revolut?
Revolut is an international payments provider that supports multi-currency accounts, international transfers and payment cards.1 It offers separate personal and business accounts, with features that vary by market.
Personal accounts typically support holding and exchanging multiple currencies, sending international transfers, receiving payments and spending abroad with a linked card.1 Business accounts can include all the features of the personal accounts along with merchant services that let businesses accept payments online, in-person or through Revolut Pay.² Payments can be accepted in up to 30 currencies through Visa, Mastercard and American Express, with support for Apple Pay and Google Pay.1,2
What to look for in a Revolut alternative
- Multi-currency support: Check whether you can hold multiple currencies or if payments are converted automatically
- International transfers: Compare supported countries, currencies and global payment capabilities
- Availability in Malaysia: Choose a provider that supports onboarding for Malaysian users and fits your needs
- Card availability: See whether a linked debit or business card is available for international spending
- Business or personal use: Pick a provider designed for your intended business or personal use
- Local payment infrastructure: Check if the provider supports Malaysian payment systems like DuitNow (For instant transfers), FPX (for online checkout payments) or JomPAY (for bill payments)
5 alternatives to Revolut for Malaysian users
1. WorldFirst
WorldFirst is a global payments provider offering the World Account, a multi-currency account designed for users managing international transactions. Malaysian businesses can open local currency accounts in 20+ currencies, receive payments from more than 130 global marketplaces and payment gateways, including Amazon, Etsy and Stripe, and send payments in 100+ currencies across 200+ countries and regions.
The platform also supports supplier payments through World Pay, the authorised international payment provider for 1688.com, alongside multi-user account access and integrations with Xero and NetSuite. WorldFirst focuses on cross-border payment services for businesses, freelancers and e-commerce sellers rather than consumer banking.
Key features of the World Account
- Offers local currency accounts in 20+ currencies for receiving and holding international funds
- Supports payments in 100+ currencies across 200+ countries and regions
- Enables businesses to collect payments from 130+ global marketplaces, including Amazon, Etsy and Stripe
- Provides World Pay, the authorised international payment provider for 1688.com
- Supports multi-user access, allowing teams to manage payments and account activity together
- Integrates with Xero and NetSuite to streamline accounting and financial workflows
2. Wise
Wise only offers personal accounts in Malaysia; not business accounts.3 It allows users to hold 40 currencies, receive money with local account details in 20+ supported currencies, and send money to 160+ countries and territories.3
Users can also spend worldwide using a linked Wise debit card.3 It supports multiple currencies such as USD, GBP, EUR and MYR, and handles international business payments from a single account.4 Wise Business is not currently available in Malaysia.
→ Read more on this Wise Malaysia review
3. Airwallex
Airwallex is a payments provider that offers multi-currency accounts with local receiving accounts in 20+ currencies, including USD, MYR, EUR and GBP.5 Malaysian businesses can receive payments from overseas customers and global marketplaces, and send international payments in 60+ currencies to 200+ countries and regions.5,6
The platform also offers checkout and payment link tools that support 160+ payment methods, including Visa and Mastercard cards, Apple Pay, Google Pay and WeChat Pay.⁷ Additional business features include multi-currency corporate cards for company spending and integrations with Xero, Shopify, Amazon, Lazada and WooCommerce.5,9
→ Read more on this Airwallex Malaysia review
4. XE Transfer
XE is an international money transfer provider available to Malaysian users for sending and receiving money overseas.10 The platform supports transfers to 190+ countries in 130+ currencies and offers a live currency converter for 100+ currencies, exchange rate alerts and market insights.10,11 XE provides both personal and business accounts–personal accounts only support international transfers and business accounts support both international transfers as well as multi-currency balances in MYR, USD, EUR, GBP, AUD, CAD and NZD13,14
→ Read more on this XE Transfer review
5. BigPay
BigPay is a Malaysian digital wallet designed for everyday payments, budgeting and international spending in 45+ countries.17 Users can send their money through the mobile app, make local payments, pay bills, transfer money internationally and use a linked VISA or Mastercard payment card for purchases online and in stores.17,18 BigPay stores balances in Malaysian Ringgit (MYR) and does not support holding foreign currency balances.19
The platform is aimed at personal users rather than businesses and includes features such as spending insights, budgeting tools and transaction tracking within the app.20 While BigPay supports international transfers and overseas card spending, it does not provide business payment tools, marketplace collections or foreign currency accounts.
→ Read more on this BigPay review
Which Revolut alternative suits your needs?
The right alternative depends on international payments needs. WorldFirst and Airwallex are designed for businesses needing multi-currency accounts for sending/receiving currencies across borders.5 Wise is suited for individuals who want to hold multiple currencies and spend abroad with a linked debit card via a personal account.3 XE focuses on international money transfers for both personal and business users, while BigPay can be used for everyday spending and budgeting from an MYR wallet.10,17
FAQs
Is Revolut available in Malaysia?
No. Revolut is not currently available in Malaysia.
What is the closest alternative to Revolut in Malaysia?
Several providers offer features similar to Revolut, including multi-currency accounts, international transfers or overseas spending like WorldFirst.
Does WorldFirst work in Malaysia?
Yes. WorldFirst is available to Malaysian businesses through the World Account. Businesses can open local currency accounts in 20+ currencies, send, receive, hold and convert multiple currencies and also use World Pay for 1688.com supplier payments.
Which Revolut alternative is designed for businesses?
WorldFirst is designed primarily for businesses dealing with international payments, overseas customers and cross-border operations.
Which provider is best for personal international spending?
Wise and BigPay both offer personal payment solutions with linked cards for eligible users.3,17 Wise focuses on multiple currencies and international payments, while BigPay is designed for everyday spending, budgeting and payments from a MYR wallet.3,17
Sources
- https://www.revolut.com
- https://help.revolut.com/business/help/merchant-accounts/payments/in-which-currencies-can-i-accept-payments/
- https://wise.com/my/account/
- https://wise.com/my/pricing/
- https://www.airwallex.com/my/business-account
- https://www.airwallex.com/my/spend-management
- https://www.airwallex.com/my/payments/payment-links
- https://www.airwallex.com/my/spend-management/cards
- https://www.airwallex.com/my/pricing
- https://www.xe.com/en-my/
- https://www.xe.com/en-my/currencyconverter/
- https://help.xe.com/hc/en-gb/articles/360019847837-What-are-the-limits-on-how-much-I-can-send
- https://www.xe.com/en-my/business/multi-currency-accounts/
- https://www.xe.com/faq/topic/about-xe/#which-currencies-do-you-offer
- https://help.xe.com/hc/en-gb/articles/360019845777-Which-payment-methods-can-I-use
- https://www.xe.com/faq/topic/receiving-money/#how-do-i-receive-a-transfer
- https://bigpayme.com/
- https://bigpayme.com/features/card/
- https://bigpaysupport.zendesk.com/hc/en-us/articles/7110048854541–Top-up-Can-I-use-a-card-that-is-not-issued-by-a-Malaysian-bank-to-top-up
- https://bigpayme.com/features/budgeting/
Disclaimer: The information contained is general only and largely our views. Before acting on the information you should consider whether it is appropriate for you, in light of your objectives, financial situation or needs. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions, estimates, mentioned products/services and referenced material constitute the author’s own judgement as of the date of the briefing and are subject to change without notice. WorldFirst shall not be responsible for any losses or damages arising from your reliance of such information.
