Best digital business accounts in Malaysia [2026]
Looking to open a digital business account in Malaysia? Here is a look at the leading options for SMEs, sole proprietors and growing businesses
Key takeaways
- Malaysia has five licensed digital banks under Bank Negara Malaysia
- Some digital banks offer dedicated business accounts; others currently serve personal customers only, with business accounts coming
- Most digital bank accounts in Malaysia are MYR-only, with eligibility typically limited to Malaysian residents or SSM-registered businesses
- For businesses that make frequent international money transfers, a multi-currency account is worth considering
Digital business accounts have changed how small and medium businesses in Malaysia handle day-to-day banking. While opening a business account once meant branch visits, paper forms and waiting weeks for approval, several providers now offer fully digital onboarding completed in a matter of days or hours.
There are now five licensed digital banks under Bank Negara Malaysia (BNM). Most accounts are MYR-only and built around domestic banking, including local transfers via DuitNow and FPX.
This guide compares the leading digital business accounts in Malaysia on features, eligibility and fees. It also takes a look at how the World Account by WorldFirst can sit alongside a MYR digital business account for businesses with international payment needs.
Top digital bank accounts in Malaysia
1. GX Bank BizAccount
GX Bank was the first digital bank to launch operations under a Bank Negara Malaysia licence.¹ The BizAccount is a fully digital business account designed for sole proprietors registered with Suruhanjaya Syarikat Malaysia (SSM).² The account is opened entirely through the GX Bank app, with no monthly fees or maintenance charges, and the balance earns daily interest.²
Setup is built around mobile-first onboarding, suitable for sole proprietors who want a banking app that runs on their phone rather than a desktop portal.
Pricing: Zero service charge.² Initial deposit not specified
2. RYT Bank account
RYT Bank launched in 2025 under YTL Digital Capital and operates as an AI-assisted digital bank.³ It currently offers personal accounts only, with business accounts not yet available.⁴ Account holders can interact with the bank through a conversational interface for tasks like checking balances, moving funds and reviewing transactions.³
The bank also offers the RYT Card which can be switched between debit and credit modes through the app.⁵ Eligibility for RYT Bank’s personal account is restricted to Malaysian residents aged 18 or older with a valid MyKad.⁴
Pricing: Zero account opening and maintenance fees on the personal account.⁴
3. AEON Bank Business Current Account-i
AEON Bank is one of Malaysia’s two licensed Islamic digital banks, operating under the Islamic Financial Services Act.⁶ AEON Bank Biz is a Shariah-compliant business banking suite designed for micro, small and medium enterprises (MSMEs), including the Business Current Account-i.⁷
To qualify for AEON Bank Biz, the business must be registered with Suruhanjaya Syarikat Malaysia (SSM), operate a Shariah-compliant business, and have directors and authorised users who are Malaysian citizens and not US tax residents.⁷ AEON Bank supports DuitNow transfers, QR-code payments, and instant transfers via mobile number, MyKad or account number.⁶
Pricing: Fees vary by product within the Business Banking suite.⁷
4. KAF Digital Bank Savings-i Account
KAF Digital Bank is the second licensed Islamic digital bank in Malaysia.⁸ The bank currently focuses on personal account holders through the Digital Bank Savings-i Account, with business accounts indicated as coming next.⁸
The Digital Bank Savings-i Account is a Shariah-compliant savings product with monthly and daily transaction limits set by KAF.⁹ Account opening requires a valid MyKad, a registered Malaysian mobile number and an existing bank account with another Malaysian bank.¹⁰ The account comes with a physical Visa debit card that can be personalised with a nickname and has the card number hidden digitally within the app.¹¹
Pricing: Free to open and maintain on the personal account. RM20 charge if the account is closed within three months.⁹
*Fees checked in June 2026
World Account by WorldFirst is built for businesses operating across borders
The World Account is a multi-currency account from WorldFirst, an international payments provider. It lets Malaysian businesses hold, receive and send funds in 20+ currencies, including MYR, USD, GBP, EUR and CNH. With the World Account, you can send payments in 100+ currencies across 200+ countries.
Built for businesses in global trade, a World Account can help you collect payments in multiple currencies from 130+ international marketplaces, pay overseas suppliers in their local currency or hold funds until you are ready to convert it back to MYR. You can also use the collected funds to make further same-currency payments and avoid unnecessary double conversion.
The World Account is available to businesses registered in Malaysia. Opening an account is online and does not involve a branch visit.
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://gxbank.my/
- https://gxbank.my/bizaccount
- https://www.rytbank.my/
- https://www.rytbank.my/savings-account
- https://www.rytbank.my/ryt-card
- https://www.aeonbank.com.my/
- https://www.aeonbank.com.my/business/
- https://www.kafdigitalbank.com.my/
- https://www.kaf.com.my/Portals/0/Resources/KAFDB/KAF_SVACPDSS_EN_LATEST.pdf
- https://hello.kaf.com.my/en_US/registration-application-onboarding-process
- https://www.kafdigitalbank.com.my/produk
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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