OCTIS vs digital banks for business in Malaysia: who can open and what you get
Five digital banks hold Bank Negara licences. Only some serve companies today.
Last checked · 3 sources
Otty's short answer
As of November 2026, Boost Bank and AEON Bank list business current accounts that a company can apply for. GX Biz takes sole proprietors only. Ryt Bank shows no business account and KAF Digital Bank lists business banking as coming soon. None of the five offers multi-currency accounts, so exporters still need a traditional bank or a fintech for foreign money.
Side by side
Swipe to see every column
| What matters | OCTISSdn Bhd + OCTIS | GX Biz (GXBank) | Boost Bank (Boost SME) | AEON Bank | Ryt Bank | KAF Digital Bank |
|---|---|---|---|---|---|---|
| Business account live | Multi-currency business account via licensed partners | Yes (GX Biz) | Yes (Boost SME) | Yes (Business Current Account-i) | No business account listed | Coming soon |
| Sdn Bhd can open | Yes, Sdn Bhd incorporated through OCTIS at least 10% below any qualifying quote (Lowest Price Guarantee) | No, sole proprietors | Yes, subject to terms | SSM-registered businesses | Not applicable | Not applicable |
| Monthly fee | Priced from your bill; no separate account line to track | RM0 | Not published | Not published | Not applicable | Not applicable |
| Minimum balance | Set by our licensed partner; quoted before you commit | None | None on Boost Grow | Not published | Not applicable | Not applicable |
| Interest on balance | Not an OCTIS product | 2.50% p.a. | 3.0% p.a. (new merchants) | Up to 2.5% p.a. | Not applicable | Not applicable |
| Business loans | No, OCTIS is not a bank | Business financing | Biz Loan up to RM300,000 | Term and working capital | No | Not yet |
| Multi-currency | Via licensed partners | No | No | No | No | No |
| Sign-up | Arranged through OCTIS | App | App, about 5 minutes | App | Not applicable | Not applicable |
| Deposit protection | Not a bank; accounts via licensed partners | PIDM, RM250,000 | PIDM, RM250,000 | PIDM, RM250,000 | PIDM, RM250,000 | PIDM, RM250,000 |
| Licence | Not a bank; accounts and FX via licensed partners | BNM digital bank | BNM digital bank | BNM digital bank | BNM digital bank | BNM 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 a Sdn Bhd, accounts and a multi-currency business account via licensed partners set up together.
GX Biz (GXBank)
Choose GX Biz if you trade as a sole proprietor and want a zero-fee account with interest.
Boost Bank (Boost SME)
Choose Boost Bank if you take DuitNow QR payments and want same-day settlement and a quick loan.
AEON Bank
Choose AEON Bank if you want a Shariah-compliant business account with financing.
Ryt Bank
Choose Ryt Bank for personal savings today. It lists no business account.
KAF Digital Bank
Choose KAF Digital Bank only after it launches business banking. No date is published.
What the table does not show
What digital banks do well
They open in an app, charge little or nothing to hold money, and pay interest on balances. Boost lists daily interest of 3.0% p.a. with no lock-in on Boost Grow for new merchants, and same-day DuitNow QR settlement including weekends and public holidays. AEON Bank lists up to 2.5% p.a. and GX Biz 2.50% p.a.
What is still missing
None of the five offers multi-currency accounts or direct international transfers. Cheque books and branch cash handling are not their model. If your Sdn Bhd buys or sells abroad, pair a digital bank with a multi-currency provider. Rates and promotions change quickly, and Boost's 3.0% is listed for new merchants, so check the current rate before you move cash.
How safe is the money
All five hold Bank Negara Malaysia digital bank licences and are PIDM members, which protects deposits up to RM250,000 per depositor per bank. That is the same cover as a traditional bank. It is a real difference from e-money wallets and fintech balances, which are not PIDM deposits.
Where OCTIS fits
A digital bank account still needs bookkeeping behind it. OCTIS bookkeeping reconciles statements from a digital bank, a traditional bank or a multi-currency account, and handles tax filings and audit coordination with an independent licensed auditor. OCTIS is not a bank and has no live partnership with any bank named here. Ask about 10–30% off your current bill.
Frequently asked questions
Can a Sdn Bhd open GX Biz?
No. GX Biz is limited to SSM-registered sole proprietors. Partnerships, LLPs and Sdn Bhd companies are not eligible at the time of writing.
Does Ryt Bank have a business account?
Not in the public product list checked. It shows personal products: Savings Account, Save Pockets, Ryt PayLater and Ryt Card.
Is a digital bank safer than a fintech account?
Digital banks are licensed banks with PIDM cover up to RM250,000 per depositor. Fintech e-money balances are held under e-money rules and are not PIDM deposits. Both are regulated by Bank Negara Malaysia in different ways.
Can I get a business loan from a digital bank?
Boost Bank lists a Biz Loan of up to RM300,000 with approval in about 10 minutes. AEON Bank lists Term Financing-i and Working Capital Financing-i. GX Biz lists access to business financing. All are subject to approval.
Can digital banks send money overseas?
The sources checked say none of the five offers multi-currency accounts or direct international transfers.
Sources
Checked on the date above. Links open the provider's or regulator's own page.