GX Bank review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
GX Bank suits travelers and small businesses that want a Malaysian account with a fee of MYR 0 a month and a currency conversion fee of 0%. The savings account pays 2% as a variable rate on the total balance, with no lock-in period and daily interest.
Key facts
- Best for
- A low cost Malaysian account for travelers and businesses that pay in ringgit and spend abroad.
- Monthly fee
- MYR 0↗
- Currency conversion fee
- 0%↗
- Transfer fee
- RM 0 intrabank fund transfer and RM 0 DuitNow transfer↗
- Legal entity
- GX Bank Berhad (Reg No. 202101014409 (1414709-A))↗
- Headquarters
- Malaysia↗
- Support channels
- Email, Chat, Phone, Help-centre↗
- Audience
- Travelers, Business
- Pricing model
- No monthly fee, Low FX fees
- Features
- Free ATM withdrawals, Digital-only
- Official website
- gxbank.my
Pros and cons
Pros
- Transfers cost RM 0 intrabank fund transfer and RM 0 DuitNow transfer, so paying in and paying out takes no cut.
- Interest is credited daily on the total balance, with no minimum balance, no cap and no lock-in period.
- DuitNow and QR payments work in the app, so day to day local spending needs no extra step.
- Support runs on email, chat and phone, so phone, chat, email and a help centre are all open.
Cons
- The rate is variable at 2%, so the return can move rather than staying put for a term.
- A minimum deposit of MYR 20 is required, so a very small balance cannot be opened.
- The service is digital only, as free atm and digital only shows, so there is no branch counter to visit for help.
Who it suits
- Travelers and businesses, since travelers and business lists both and the account takes DuitNow and QR payments in the app.
- Savers who want their money on hand, since the account kind is easy access and interest is credited daily.
- People who would rather call than write, since support runs on email, chat and phone.
Who should look elsewhere
- Anyone put off by a minimum deposit of MYR 20 can look at PayPal Colombia, whose monthly fee is $0.
- Plazo ES, at a monthly fee of €0, suits anyone who does not want interest credited daily.
- Skrill, at a monthly fee of €0, is the alternative for anyone not looking to earn interest on a balance.
Rates and card terms
The savings account pays a headline rate of 2%, and that rate is variable, so the return follows the base rate rather than sitting still. There is no promised rate for a set term, which makes the headline figure a starting point that can move up or down. For savers, the headline number is the one to watch rather than a guaranteed return.
The company behind it
The account is issued by GX Bank Berhad (Reg No. 202101014409 (1414709-A)), which lists its own registration number, and the operation is based in Malaysia. It is supervised by Bank Negara Malaysia, so deposits sit with a bank rather than a wallet operator. Customer help runs on email, chat and phone, which covers phone, chat, email and a help centre.
How GX Bank compares
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9.6 vs 9.0Its monthly fee is €0, and weighing it against GX Bank comes down to the conversion fee of 0% here.
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Where GX Bank is available
- Available
- Malaysia
- Licence in Malaysia
- Bank Negara Malaysia, checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does a GX Bank account cost each month?+
GX Bank charges a monthly fee of MYR 0, and no monthly fee and low fx lists the account as a no monthly fee setup. Transfers add nothing on top, at RM 0 intrabank fund transfer and RM 0 DuitNow transfer, so a balance can be paid in and moved out without a standing charge. There is no account minimum balance to maintain.
What does it cost to spend abroad or convert currency?+
The currency conversion fee is 0%, and that is the figure that matters for anyone paying in ringgit and spending in another currency. The debit card sits under a low foreign exchange model, per no monthly fee and low fx, and local spending runs through DuitNow and QR in the app. Interest on the balance keeps accruing while the money is abroad.
What rate does the GX Bank savings account pay?+
The savings account pays a headline rate of 2%, and the rate is variable per variable, so the return moves rather than being fixed for a term. Interest is credited daily on the total balance, which suits savers who pay in gradually. There is no lock-in, so the money stays accessible.
Is there a minimum deposit to open the account?+
A minimum deposit of MYR 20 applies to the savings account, so a small balance has to sit there before it earns the 2% headline rate. After that there is no minimum balance requirement, no cap on the total and no lock-in period, so the balance can move as needed.
How do I pay in, pay out and take cash out?+
DuitNow and QR payments are handled in the app, and the debit card gives free ATM withdrawals, per free atm and digital only. With transfers at RM 0 intrabank fund transfer and RM 0 DuitNow transfer, everyday payments in and out do not carry a charge. The service is digital only, so cash and payments depend on the card and the app rather than a counter.
How do I get help when something goes wrong?+
Support runs on email, chat and phone, so phone and chat sit alongside email and a help centre. That mix suits people who would rather call during a problem with a payment than work through a form, and the same app handles DuitNow and QR payments day to day.
Who runs GX Bank and where is it based?+
The account is issued by GX Bank Berhad (Reg No. 202101014409 (1414709-A)), which is based in Malaysia and supervised by Bank Negara Malaysia. Because the balance is held by a bank rather than an app operator, the protection on the money depends on that supervision, and day to day servicing runs through the app.
Sources
- gxbank.my checked September 26, 2026
Backs: Headquarters, Legal entity, Monthly fee, Licences
“Level 5, 1 First Avenue, Bandar Utama, 47800 Petaling Jaya, Selangor, Malaysia”
- gxbank.my/about-us checked September 26, 2026
Backs: Support channels
“In-app live chat 24/7 Customer Support; +603 7498 3188 24/7 Support Hotline; ask@gxbank.my Support Email”
- gxbank.my/campaign-tnc checked September 26, 2026
Backs: Audience
“GX Card Travel GrabRewards Cashback Campaign: Get 3X GrabRewards Points for every RM1 spent in foreign currency using GX Card”
- gxbank.my/debit-card checked September 26, 2026
Backs: Features, Currency conversion fee, Pricing model
“Withdraw cash anywhere at ATMs nationwide. No ATM fees for interbank cash withdrawals”
- gxbank.my/savings-account checked September 26, 2026
Backs: Access terms, Account kind, Headline rate, Minimum deposit, Rate type, Transfer fee
“2% p.a. daily interest. No minimum balance. No limits. No lock in periods. Saving should be this simple.”
Compiled from 5 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Licence type, Deposit protection, Currencies.
Related by the facts
Guides
GX Bank
A low cost Malaysian account for travelers and businesses that pay in ringgit and spend abroad.