Best Foreign Currency Accounts in Malaysia (2026)

For Malaysians working, studying and traveling abroad, and for expats in Malaysia, a multi-currency account can be a valuable asset, making it easier and cheaper to transact across borders. Some major Malaysian banks offer ways to hold foreign currency as an investment, while others provide debit cards that you can use as you travel. That means that choosing the best multi-currency account in Malaysia for your unique needs will take a bit of research.

This guide gives you some ideas to consider from major local and regional banks - and a specialist alternative, the Wise Account for cheaper and more convenient foreign currency transactions.

Side by Side: The best multi-currency accounts in Malaysia

*Details correct at time of research - 11 January, 2026

How to choose the best multi-currency account in Malaysia

Before you pick, it’s helpful to consider what to look for when choosing a multi-currency account.

One of the main things to look at when deciding between multi-currency accounts is fees. Some accounts will have annual fees, minimums, transaction fees or just one currency conversion fee.

The next thing is to look at the exchange rate. As these accounts are all about converting ringgit, it matters what exchange rate you are getting.

The mid-market rate is the rate that you’ll see when you use a currency converter tool or a Google search. However this isn’t usually the rate that’s offered to retail customers exchanging funds or sending a payment with a bank.

Instead, you’ll usually find a fee added, within the exchange rate. This can mean currency conversion and payments cost you more than you expect. Not all providers add fees to the rates they use for conversion - some, like Wise, which we’ll look at in this guide, use the mid-market rate and split out the fees for transparency.

Lastly, but not least, which currencies does the account offer? Sometimes banks will only focus on the major markets globally, while others give you reach and breadth to make moving around globally easier. With this in mind, let’s look at a bit more detail about the best multi-currency accounts in Malaysia, to see which might suit your needs.

Wise multi-currency account

Wise has changed the game with one of the largest global reach and some of the lowest fees for a multi-currency account

The Wise account is an easy way to hold and exchange 40+ currencies, including MYR, USD, GBP, and more. All you need to do is create a free account to get started.

With Wise, you can exchange currencies at the mid-market rate each time, with low, transparent conversion fees from 0.71% and absolutely no markups. Plus, you can order a linked Wise card for convenient spending without any foreign transaction fees, and up to 1,000 MYR free ATM withdrawals to the value of 1,000 MYR when you're overseas. You'll even get 8+ local account details to get paid conveniently to your Wise account in MYR and a selection of other major global currencies.

Sending money or making payments abroad? Wise also offers fast, low cost transfers to 140+ countries - you can track your transfer in your account and your recipient will also be notified when a transfer reaches them.

Get started with Wise

RHB multi-currency account

RHB offers a multi-currency account which comes with a debit card for ease of use abroad, and which lets you convert between 30+ currencies

The RHB Multi-Currency Account is an interest-bearing account that lets you hold 33 different currencies, with a debit card to use on the go. Beyond the traditional Western and major market currencies available, RHB also gives you access to currencies in the Middle East, Africa, and the Asia Pacific region. Plus you can convert between the currencies that they have on offer.

But all these features do come with fees. There are annual fees for the debit card and ATM withdrawals, as well as a 1% foreign transaction fee if you spend a currency you don’t hold in your account.

Learn more about the RHB multi-currency account here.

Hong Leong multi-currency account

Hong Leong Bank offers the HLB Pay&Save Account with Multi Currency Feature for users looking to hold and manage foreign currencies in Malaysia, supporting up to 21 foreign currencies.

The HLB Pay&Save Account's multi-currency feature is an optional add-on enabled within a hybrid savings and current account. An annual card fee of RM8 applies, which the bank waives entirely for the first year. When converting money, transactions are processed at the bank's prevailing board rates.

Plus, if your specific foreign currency wallet runs out of funds or if you spend in an unsupported currency, the card automatically falls back to your MYR balance, incurring a 2% overseas transaction fee. Using ATMs abroad via Visa PLUS/Mastercard Cirrus will also hit you with a flat RM12 fee or 2% of the total withdrawal amount, whichever happens to be higher.

Public Bank Berhad multi-currency account

The PB Foreign Currency Current Account supports 12 major currencies but doesn’t have a debit card, making it better for saving or investing.

Public Bank Berhad has a PB Foreign Currency Current Account that you can maintain in one of the foreign currencies listed above. You can make and receive payments using this account, under the rules of the Foreign Exchange Administration Rules and Bank Negara Malaysia. But you don’t receive a chequebook or an ATM card with this account so it’s not ideal for day to day use.

Plus, there are individual transaction charges depending on the currency you are using that can range from USD 1 to THB 36. While there is a minimum initial deposit of USD 1,000 to open, there is no minimum balance required to maintain.

Read more about the Public Bank Berhad multi-currency account in this handy guide.

Maybank Master Foreign Currency Account

The Maybank Master Foreign Currency account is available in a range of currencies, but intended for people who want to hold and make payments in foreign currencies, rather than for day to day spending.

Open your Maybank multi-currency account with a minimum opening deposit of 1,000 USD or the currency equivalent. The Maybank Master Foreign Currency account has transaction fees which are based on the currencies being used - usually the equivalent of 4 USD per transaction. There’s no ATM card with this account, so it’s not really useful for people travelling frequently - although it might be handy for anyone who wants to hold a foreign currency balance and minimise the risks of currency market fluctuations.

Read more about the Maybank Master Foreign Currency Account here.

CIMB multi-currency account

CIMB offers a multi-currency current account which supports 13 major currencies.

CIMB offers a Foreign Currency Current Account to hold and exchange 13 major currencies. This account has been designed for customers who need to make payments in foreign currencies. There’s no debit card, and the account doesn’t bear interest, but it can be used to pay for things like overseas school fees and other bills conveniently. Deposits and withdrawals are through electronic means only - such as a telegraphic transfer or transfer to a MYR account. There’s no chequing facility included.

HSBC multi-currency account

The global bank HSBC can be a strong option with a diverse amount of currencies, in a multi-currency account you can use to make payments conveniently.

HSBC’s Foreign Currency Account, or CombiNations Account, is a savings account that lets you hold money in 12 different currencies. HSBC recommends it as an account for parents of students studying abroad, those working abroad or receiving remittances. You can begin to move your Ringgit into one of the 12 foreign currencies and hold it in the currency you need now or for the future. It can also be used to repatriate money from offshore Foreign Currency Accounts.

To open an account comes with a minimum deposit amount depending on the currency you want to hold. There is also an ability to hold a Fixed Term Deposit of 1-2 months. But when it comes to fees, they can be on the high side, even for a specialist account product. That means less in your pocket for travel and spending abroad.

Summary

Hopefully this roundup gives you a flavour for the type of multi-currency account product available in Malaysia, from a range of online and brick and mortar providers. If you’re still not sure which one will suit you best, you can also read more about multi currency accounts in Malaysia, in this handy guide.

1. RHB
2. RHB foreign currency account FAQ
3. Hong Leong
4. PB Berhad
5. Maybank
6. CIMB
7. HSBC