Skip to main content

Revolut is an e-money institution platform that provides a wide range of banking and financial services through its mobile app and web platform. Launched in 2015, Revolut initially started as a service for managing multiple currencies but has since grown into a comprehensive financial platform used by millions of people globally.

Moreover, one of Revolut’s main features is its multi-currency accounts, which allow users to hold, exchange, and spend in various currencies at competitive exchange rates. This service is particularly popular among frequent travelers and those who need to manage money across different countries.

Beyond traditional banking services, Revolut also enables users to engage in cryptocurrency trading, stocks and comodities directly within the app.

In this article, we will uncover Revolut’ availability and expansion plans in Malaysia, as well as provide alternative solutions.

Is Revolut available in Malaysia?

Unfortunately, Revolut is not yet available in Malaysia and it’s currently available in 35 countries. According to their website, Revolut You can open a Revolut account if you live in a country or overseas territory listed below: Australia, Brazil, European Economic Area (EEA), Japan, New Zealand, Singapore, Switzerland, United Kingdom and United States”.

Where is Revolut available? Suppported Countries

As the world of digital banking evolves, Malaysian residents looking for sophisticated and user-friendly banking platforms have a variety of options. Revolut has gained popularity in over 35 countries for its innovative features, transparent operations, and a strong commitment to social and environmental responsibility. However, Revolut is not available in Malaysia.

This article explores the best Revolut alternatives accessible to Malaysians who wish to benefit from innovative digital banking services. We will look at the best neobanks and fintech platforms that cater to the unique needs and preferences of Malaysian users, offering features such as low fees, seamless transactions, and comprehensive mobile banking solutions.

Whether you are a seasoned user or just getting started, keep reading to learn about the best options for managing your finances efficiently.

If you would like to read our full review of Revolut just click here!

Revolut Alternatives in Malaysia

In this section, we will be discussing 3 alternatives that share comparable features with Revolut in Malaysia:

  • Wise
  • GX Bank
  • AEON Bank

Wise

Wise home page

Wise, formerly known as TransferWise, is a leading fintech company that has evolved into a neobank, primarily focused on providing international money transfers and multi-currency account services.

Initially founded in 2011, Wise was created to address the high fees and markups associated with traditional foreign exchange services. Today, it offers customers the ability to hold, convert, and manage funds in over 40 currencies through its multi-currency accounts, making it an ideal choice for individuals and businesses dealing with cross-border transactions.

Likewise, Wise has gained a reputation for its user-friendly mobile app, efficient international transactions, and commitment to cost transparency, positioning itself as one of the most trusted names in cross-border financial services.

However, if you still have doubts about Wise being the right fit for you, just click here and find out more!

GX Bank

GX Bank home page

GX Bank is Malaysia’s first neobank dedicated exclusively to personal users, offering a range of digital-only banking services, including checking and savings accounts.

Moreover, licensed under Bank Negara Malaysia’s digital banking framework, GX Bank operates entirely online with no physical branches, allowing users to manage their finances from the convenience of a mobile app.

Overall, GX Bank aims to drive financial inclusion by reaching underserved populations across Malaysia. Whether it’s saving for future goals or handling everyday expenses, GX Bank provides a modern solution to personal banking needs, backed by the security and oversight of Malaysia’s central bank.

However, if you still have doubts about GX Bank being the right fit for you, just click here and find out more!

AEON Bank

AEON Bank home page

AEON Bank is a pioneering digital banking platform launched in Malaysia on 2022. It stands out as the first Shariah-compliant digital bank in the country, specifically designed to cater to the needs of tech-savvy users, particularly Generation Z and Alpha consumers.

Leveraging its heritage in retail banking, AEON Bank aims to provide a comprehensive range of financial services through a user-friendly digital platform. The bank emphasizes accessibility and convenience, utilizing innovative technology to enhance customer engagement and streamline banking processes.

Overall, AEON Bank is committed to redefining the banking experience while ensuring that all services comply with Islamic financial principles. This approach positions AEON Bank as a unique player in Malaysia’s evolving financial landscape.

However, if you still have doubts about AEON Bank being the right fit for you, just click here and find out more!

Final Thoughts

Although Revolut is not accessible in Malaysia, there are still plenty of other options available to assist people in achieving their financial objectives. There are local and global solutions available, each catering to a different desire and set of financial goals.

Having said so, always remember that choosing the best digital bank depends on your personal goals and financial situation, so it’s essential to stay informed about the latest developments and explore the ever-expanding range of financial tools available.

We hope we helped you in your search for the Best Alternatives for Revolut in Malaysia.

Why use a digital bank?

Affordable fees and attractive pricing

Quick account setup and hassle-free onboarding

Intuitive design for easy navigation

Neobanks offer highly accessible, user-friendly mobile apps designed for a smooth, modern banking experience. Unlike traditional banks, which rely on complex processes and paperwork, neobanks provide a streamlined interface where users can manage finances, track transactions in real-time, and set up alerts with ease. This straightforward, app-based experience appeals to tech-savvy users and businesses alike, offering a practical solution for efficient financial management.

Advanced budgeting and financial tracking tools

Responsive support and community involvement

What Neobank: Your guide to modern banking.