Open a global business account to transact like a local in 70+ countries

To open a business account in Malaysia, you generally need your company’s registration number issued by the Companies Commission of Malaysia (SSM), your business registration documents, registered business address, and details of directors, partners, or authorised signatories. You will also need identification documents (such as MyKad or passport) for all authorised persons and, in some cases, proof of business activities (e.g. invoices, contracts, or a business profile).

You can open a business bank account within minutes to a few days with fintechs and digital banks, but traditional banks might take 5-15 business days or even weeks. Fully online applications with instant verification can get you a business account almost immediately, while complex cases with unique company structure or foreign owners can take longer.

You can usually open an Airwallex business account within a few business days once you submit all required documents. Our online application takes about 15 minutes to complete, and our onboarding is fully digital. If your company’s structure is more complex or information is missing, our team may need extra time to follow up before approval.

In Malaysia, Airwallex operates through Airwallex (Malaysia) Sdn. Bhd., which is regulated by Bank Negara Malaysia under a Money Services Business licence. Customer funds are held in segregated accounts with licensed banks, separate from company operating funds. 

Airwallex also maintains internationally recognised security standards, including PCI DSS and SOC compliance, to protect customer data and transactions. For more information on how Airwallex keeps your funds safe, see here.

A business bank account helps you separate your personal finances from your business finances, which makes bookkeeping, audits and tax filing much simpler. It also lets you pay and get paid in your company’s name, which looks more professional. In Malaysia, a local business account typically gives you access to payment services such as DuitNow, Interbank GIRO (IBG), and other domestic transfer channels, making it easier to manage day-to-day transactions and payroll.

The Airwallex Business Account includes multi-currency global accounts, FX and transfers, and Corporate Cards. You can sync transactions with accounting platforms like Xero, QuickBooks and NetSuite, connect to eCommerce platforms, and use CSV uploads for batch payments. Developers can also use our APIs and webhooks to automate payouts, reconciliations and reporting across the business.

To open a business account for international operations, choose a provider such as Airwallex that supports multi‑currency accounts and cross‑border payments, then complete their registration process online. Once you’re approved, you’ll be able to receive, hold, and pay out funds in multiple currencies from a single online business account.

For fast onboarding, look for digital‑first business accounts rather than traditional branch‑based banks. Fintech providers such as Airwallex offer an online business account where you submit your business details and documents digitally, and applications are often approved within a few business days.