Best Multi-Currency Accounts for Expats in Southeast Asia

Reviewed 2026-11-01. General independent information; check current official immigration, financial and medical guidance before acting.

Expert take — Cost of Asia editorial team Multi-currency accounts are tied to your country of residence, and changing your address can switch features off. Wise's help center says it has temporarily stopped issuing balances and account details to customers in Thailand, even after receiving a full set of Bank of Thailand licences in March 2026. Revolut says you can't keep your main account once you're no longer resident in the country where you opened it. Check the rules for your new country before you update your address in the app.

Commercial transparency: Cost of Asia has no contracted partner in this category. Providers are compared on published criteria, and no provider has paid for inclusion. If this changes, affiliate links will be labelled.

A multi-currency account lets you receive a salary, pension or client payment in one currency, hold it, and convert it when the rate suits you. For expats in Thailand, Vietnam, Bali or Malaysia, the main job is usually getting money from home into a local bank account at a fair rate.

The trade-off is between reach and eligibility. The most useful accounts give you local receiving details in USD, EUR or GBP, but they're licensed country by country, and not all of them serve residents of every Southeast Asian country. Pair any of these with a local bank account for rent and bills.

At a glance

How we chose

• Eligibility for residents of Thailand, Vietnam, Indonesia and Malaysia
• Currencies you can hold, and those with local receiving details
• Ability to pay out to local bank accounts in THB, VND, IDR and MYR
• Published fees for receiving, converting, withdrawing and annual charges
• Local licensing

Fees change, so check the live quote in the app before every large transfer. Checked on 1 November 2026.

1. Wise — best for receiving home income and paying into local banks

Wise lists THB, VND, IDR and MYR among the currencies it can send, each to accounts within that country. In Malaysia, Wise Payments Malaysia is regulated as a remittance, money-changing and e-money business. As of August 2026, Wise says Malaysian customers can hold 40+ currencies and receive payments with local details in 8+ currencies. ATM withdrawals are free up to MYR 1,000 a month, then cost MYR 5 plus 1.75%. Malaysian accounts are personal only.

In Thailand, Wise announced its full Bank of Thailand licence set in March 2026. Local features, including baht transfers to 70+ countries and receiving details from 10+ countries, were opened to a waitlist without a launch date. Meanwhile, its help center says new balances and account details are paused for Thai customers. If you hold a Wise account registered in another country, check whether it stays valid once you're resident in Thailand.

2. Revolut — best for keeping a home-country account while abroad short term

Revolut lets you keep using your account while a relocation is temporary. If you move permanently, its help center says you must close the account and open one in your new country, if that country is supported. You can only hold one account. Revolut lists Malaysia, Indonesia, Thailand and Vietnam as money-transfer destinations, which isn't the same as being able to open an account there.

3. Payoneer — best for freelancers paid by platforms

Payoneer's receiving accounts cover USD, GBP, EUR, AUD, CAD, SGD, HKD, AED, MXN and JPY. Payments into a local-currency receiving account are free. A non-local receiving account costs 1% (minimum USD 1). Withdrawals to a local bank cost 1.2% to 4% depending on country, and moving funds between your own balances costs 0.5%. There's a USD 29.95 annual fee if you receive less than USD 6,000 in 12 months. Payoneer presents the product as a business account, which suits marketplace and agency income better than a pension.

4. Airwallex — best for businesses in Malaysia

Lowyat.NET reported in April 2026 that Bank Negara Malaysia had approved Airwallex's e-money and Class A licences, adding currency exchange to its earlier remittance licence. Airwallex focuses on business accounts: multi-currency balances, FX and supplier payments. If you run a Malaysian company, it's worth a quote.

What to check before you decide

• Residency rules: read the provider's eligibility page for your new country before you change your address.
• Receiving details: confirm that the currency you're paid in has local details, not just a balance.
• Payout route: test a small transfer into your Thai, Vietnamese, Indonesian or Malaysian bank first.
• Visa paperwork: if a visa application needs proof of incoming funds, ask your local bank in advance what record it issues for payouts from these providers.
• Total cost: compare the amount that actually lands in your account, not the headline fee.

FAQ

What is the best multi-currency account for expats in Thailand?

It depends on your residency status. Wise has paused new balances and account details for Thai customers while it prepares a local launch. Many expats keep an account registered in their home country, if still eligible, and pay out to a Thai bank.

Can I open a Revolut account if I live in Vietnam or Thailand?

Revolut accounts must be opened in a supported country of residence. Check its supported-countries list before applying.

Are multi-currency accounts safe for large sums?

They're licensed e-money or payment institutions, not banks. Keep larger savings in a bank.

Related guides

• Money services
• Best ways to send money to Thailand
• Best ways to send money to Vietnam
• Best banks for expats in Malaysia
• Budget calculator