CIMB Foreign Currency Account: Current account and fixed deposit guide

Many Malaysians choose to open foreign currency accounts, to save for travel, to pay for overseas bills such as school fees, or to diversify their assets. Whether you need a foreign currency account for saving or for day to day transfers, CIMB¹ has an option for you.

This guide walks through the CIMB foreign currency account plans, features and fees to help you decide if one is right for you. We'll also introduce the Wise account, a handy companion to make your money go further with low, transparent fees.

What CIMB foreign currency accounts are there?

You can open either a CIMB foreign currency current account or a CIMB foreign currency fixed deposit account.

A current account allows you to transact freely including sending telegraphic transfers and transfers to a ringgit account. However, there’s no card available for spending and withdrawals and no interest paid on your balance. The fixed term account is a little different in that it offers interest or profit, based on the length of time you’re prepared to leave your balance in the account.

There’s no CIMB multi currency account - these accounts hold one currency each, so you would need to open multiple accounts if you want to have a balance in more than one currency. As a minimum deposit amount may apply, this might not be convenient as it would force you to tie up more of your funds to meet the account eligibility criteria.

CIMB Foreign Currency Current Account

You can open a CIMB Foreign Currency Current Account² in any of the following currencies:

• USD
• GBP
• JPY
• AUD
• NZD
• SGD
• CHF
• EUR
• CAD
• HKD
• CNH
• THB
• AED

Your account does not earn interest, but it does allow you to transfer in and out of it easily. This could be useful if you have regular bills to pay in a foreign currency - such as rent or a mortgage on a home overseas. The account does not offer a linked debit card which means this is not really intended for travel use.

CIMB Foreign Currency Fixed Deposit

CIMB also offers fixed deposit accounts including a conventional³ and an Islamic option⁴. These accounts require you to commit to leave your funds for an agreed term in return for interest or profit. Both account types have a minimum deposit amount of 10,000 MYR or the equivalent in your preferred currency.

The CIMB foreign currency fixed deposit account can support any one of the following currencies:

• USD
• EUR
• GBP
• AUD
• NZD
• SGD
• HKD
• CNH
• CHF
• CAD
• JPY

At the time of writing there’s no interest being paid on balances in CHF and JPY. Customers are advised to consider a different account if they’re interested in one of these currencies. For the conventional account, the term can be anything from 1 day to 12 months, with variable interest rates based on term and currency selected.

The CIMB foreign currency fixed deposit-i account can be opened in the following currencies:

• USD
• EUR
• GBP
• AUD

You can select a term from 1 week to 12 months depending on your preferences.

CIMB foreign currency account exchange rate

You can find the CIMB foreign currency rate⁵ on the CIMB website, or in the Clicks app. Make sure you choose the correct rate based on the transaction you intend to make, as the rates are listed by actions such as buying or selling currency to send a telegraphic transfer for example.

The CIMB exchange rate may include a markup. That’s a fee added onto the mid-market exchange rate to calculate the retail rate offered to customers sending a payment or converting an amount for deposit to a foreign currency account.

Markups are very commonly used, but they can make it harder to see exactly what you’re paying for your currency conversion. The only way to check what the markup is, is to compare the CIMB retail rate for your currency against the mid-market rate which you can get from Google or using a currency conversion tool. If there’s a difference, this is likely to be the markup.

Fees and charges

There are a couple of different fees you’ll want to know about, depending on the type of CIMB foreign currency account you choose to open. Here’s a roundup.

CIMB foreign currency current account fees

*Correct at time of research - 1st September 2025

CIMB foreign currency deposit account fees

*Correct at time of research - 1st September 2025

How to open a CIMB foreign currency account

You can open a CIMB foreign currency account in the CIMB Clicks app once you have an MYR account or other similar product with CIMB. You’ll need to complete the account opening process for your MYR account online or in person and can then add in a foreign currency account of your choice. You may also be able to register for CIMB Clicks if you have different products from CIMB such as a credit card or loan. Check your eligibility to register for Clicks if you’re unsure.

Here’s how to open a CIMB foreign currency current account in Clicks:

1. Log in to the CIMB Clicks app
2. Tap Pay & Transfer and the FCCA Fund Transfer
3. Tap FCCA Account and then choose your MYR account to deposit from
4. Make your initial opening deposit of at least 500 USD following the instructions, to open your FCCA account

The process to open a fixed deposit account is similar. You’ll need to log in to CIMB Clicks and then tap Apply and Invest. Here you can select the option to open a foreign currency fixed deposit account including the currency, tenure and amount you want to deposit.

The only occasion on which this process is not possible is if you’re looking to deposit funds for a 1 day tenure. This account type can only be opened in person by visiting a CIMB branch.

Eligibility requirements

You can open either the foreign currency fixed term account or the foreign currency current account using CIMB Clicks. To register with CIMB Clicks you need to have an existing relationship with CIMB through either holding a current or savings account with the bank, or having a different product from CIMB such as a trust, credit card or loan.

You must be aged 18 or older to open your foreign currency account with CIMB, and joint accounts are also available if you would prefer. Minimum deposit amounts apply depending on the account you select:

• CIMB foreign currency current account - 500 USD or the equivalent (about 2,100 MYR)
• CIMB foreign currency fixed deposit account - 10,000 MYR or the equivalent in your preferred currency

If you would like to hold more than one currency with CIMB you will need to open multiple foreign currency accounts - and this minimum deposit amount will apply every time.

Manage foreign currencies with low fees and the mid-market rate with the Wise account

Make seamless foreign currency payments and transactions with low fees and the mid-market rate with Wise.

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 0.77% and absolutely no markups. Plus, you can order a linked Wise card for convenient spending without any foreign transaction fees, and up to 2 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.

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Get the most out of every ringgit and save more when you use Wise.

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1. CIMB Malaysia
2. CIMB foreign currency current account
3. CIMB foreign currency fixed deposit account
4. CIMB foreign currency fixed deposit-i account
5. CIMB forex rates
6. CIMB foreign currency current account fees
7. CIMB foreign currency deposit account fees
8. CIMB foreign currency deposit-i account fees