OCTIS vs Airwallex vs banks: best business account for a new Sdn Bhd in Malaysia
Six real options, who can open each one, and what you pay to start.
Last checked · 5 sources
Otty's short answer
A new Sdn Bhd needs one bank current account first, because that is what lenders, landlords and LHDN payments expect. Hong Leong PrimeBiz or CIMB are easy starting points. Add Airwallex if you trade in foreign currency. GX Biz is for sole proprietors only, so a Sdn Bhd cannot use it. Boost Bank is newer, so confirm its terms.
Side by side
Swipe to see every column
| What matters | OCTISSdn Bhd + OCTIS | Airwallex | Maybank | CIMB | Hong Leong Bank | Boost Bank | GX Biz |
|---|---|---|---|---|---|---|---|
| Open as Sdn Bhd | Sdn Bhd incorporated through OCTIS at least 10% below any qualifying quote (Lowest Price Guarantee) | Yes | Yes | Yes | Yes | Yes, subject to bank terms | No, sole proprietors |
| Minimum opening deposit | Set by our licensed partner; quoted before you commit | None stated | RM2,000 (Corporate) | RM3,000 | RM500 | Not published | RM0 |
| Monthly fee | Priced from your bill; no separate account line to track | RM0 | RM10 half-yearly if low balance | RM10 half-yearly if low balance | Check with bank | Not published | RM0 |
| Online opening | Arranged through OCTIS | Fully online | Branch often needed | Online if eligible | Online, no branch | App, about 5 minutes | App |
| Foreign currency | Multi-currency business account via licensed partners | 20+ currencies | Ask the bank | Ask the bank | Ask the bank | No multi-currency | No multi-currency |
| Cheque book | Not an OCTIS product | No | Yes | Yes | Yes | Not published | Not published |
| Business loans | No, OCTIS is not a bank | No | Yes | Yes | Yes | Up to RM300,000 Biz Loan | Business financing |
| Company cards | Corporate card via licensed partners | Free | Via bank | Via bank | Via bank | Not published | Not published |
| PIDM protection | Not a bank; accounts via licensed partners | No, e-money | Yes, RM250,000 | Yes, RM250,000 | Yes, RM250,000 | Yes, RM250,000 | Yes, RM250,000 |
| Regulator | Not a bank; accounts and FX via licensed partners | BNM licensed MSB, e-money | BNM licensed bank | BNM licensed bank | BNM licensed bank | BNM licensed digital bank | BNM licensed digital bank |
Data sources & disclaimer: Comparison data was compiled from publicly available sources — including the competitors' own published pricing and feature pages — captured on 9 November 2026. Figures reflect the typical or advertised pricing at that time and may have changed since; plans, inclusions and prices vary by provider, region and promotion. OCTIS is independent and not affiliated with the named companies; all trademarks belong to their respective owners. This comparison is provided in good faith for general information only and is not professional, legal or financial advice — please verify current details with each provider before deciding.
Which one fits you
OCTIS · Sdn Bhd + OCTIS
Choose OCTIS if you want your new Sdn Bhd, accounts and a multi-currency business account via licensed partners set up together.
Airwallex
Choose Airwallex if you invoice or pay in foreign currency and want an online account in minutes.
Maybank
Choose Maybank if you want branches nearby and a large bank behind future loans.
CIMB
Choose CIMB if your company type is listed as eligible and you can fund RM3,000.
Hong Leong Bank
Choose Hong Leong Bank if you want the smallest deposit and a fully online application.
Boost Bank
Choose Boost Bank if you take DuitNow QR sales and want same-day settlement, after checking its terms.
GX Biz
Choose GX Biz only if you run as a sole proprietor, not as a Sdn Bhd.
What the table does not show
Start with one bank account
Landlords, suppliers and government agencies expect a company bank account in the company name. Capital from shareholders, LHDN payments and EPF or SOCSO contributions all go through it. A licensed bank also carries PIDM cover of up to RM250,000 per depositor. Pick one with online banking that can bulk-pay salaries and export statements.
Add a second account for foreign money
If more than a fifth of your revenue or costs are in USD, SGD or CNY, a multi-currency account saves FX margin. Airwallex lists 0.4% over interbank on major currencies. A bank quote has no published margin. Keep the bank account for local operations and route foreign payments through the second account.
Digital banks are still catching up
GX Biz is limited to SSM sole proprietors. Boost Bank launched Boost SME on 18 August 2026 and lists Sdn Bhd as eligible in comparisons, but publishes no fee schedule in the sources checked. Ryt Bank shows no business account and KAF Digital Bank lists business banking as coming soon.
Where OCTIS fits
A new Sdn Bhd also needs a company secretary, bookkeeping and tax filings, whichever account you pick. OCTIS handles incorporation, company secretary, accounting and tax in Malaysia, plus a built-in CRM. OCTIS is not a bank and has no live partnership with any bank or fintech named here. Ask about 10–30% off your current bill.
Frequently asked questions
What documents do I need to open a Sdn Bhd bank account?
Banks usually ask for the SSM certificate, Forms 24, 44 and 49, the company constitution, a board resolution, and IDs of all directors. Some banks also want proof of business address. Check each bank's list, as they differ.
Can I open a company bank account online in Malaysia?
Yes at some providers. Hong Leong says PrimeBiz can be applied for online without a branch visit, and Airwallex opens fully online. Many other banks still require a director to visit a branch.
Can a Sdn Bhd use GX Biz?
No. GX Biz is for SSM-registered sole proprietors. Partnerships, LLPs and Sdn Bhd companies are not eligible at the time of writing.
Which bank account has the lowest opening deposit?
Among the accounts compared here, Hong Leong PrimeBiz lists RM500, against RM2,000 at Maybank and RM3,000 at CIMB. Airwallex states no minimum. Deposits change, so confirm before applying.
Does a new Sdn Bhd need more than one account?
Not at the start. One local current account is enough. Add a multi-currency account when foreign payments become regular.
Sources
Checked on the date above. Links open the provider's or regulator's own page.