Types of Account
Alliance XChange Account (online foreign currency account; FCA)
Alliance Xchange Account is an online foreign currency current account and is an Investment Foreign Currency Account (FCA) for Individual only.
What's more?
Alliance XChange Fixed Deposit (online foreign currency fixed deposit; FCFD)
Alliance Xchange Fixed Deposits is an online foreign currency fixed deposits and is an Investment Foreign Currency Account (FCA) for Individuals only.
Well, what are you waiting for? Open an Alliance XChange account/fixed deposit today at allianceonline (personal online banking).
Note: Protected by PIDM up to RM250,000 for each depositor. View PIDM brochure in your preferred language here.
Important Notes on Foreign Exchange Notices The account operations are subject to the guidelines under the Foreign Exchange Notices issued by Bank Negara Malaysia:
Permissible Sources
Permissible Uses
A Resident is free to pay or receive payment in Foreign Currency, to or from another Resident for the following:
A Resident is free to pay or receive payment in Foreign Currency, to or from a Non-Resident for any purposes, except for-
A Non-Resident is allowed to make or receive payment in Foreign Currency, in Malaysia, to or from another Non-Resident for any purpose.
Opening And Maintaining Of Account
Resident Individual allowed to open Foreign Currency Accounts with licensed onshore banks (“LOBs”), individually of jointly with:
Open an Alliance XChange Current Account/Fixed Deposit (Online FCA/FCFD) NOW!
Interest Rate (%p.a.)
The revised rates will take effect from 13 May 2022.
Effective Date: 13 May 2022
Click here if you cannot view the Terms & Conditions in below section.
The product proposition of Alliance XChange account removes the pains that many foreign currency account holders or potential foreign currency account holders face today:
Individual customers who are aged 18 years and above with an active Alliance Bank MYR Current/Saving(s) account (conventional account only) and had successfully registered for allianceonline.
The account can only be opened via allianceonline. Account opening is completed upon successful debiting of the MYR Current/Saving(s) account and crediting the funds into the Alliance XChange account base on prevailing FX exchange rate.
Initial deposit starts from 500 in foreign currency denomination, for example USD 500 except for Japanese Yen at JPY 20,000. Alliance XChange Fixed Deposit would be 2,500 in foreign currency denomination, e.g. USD2, 500.
Subsequent deposit from an MYR Current/Saving(s) account into Alliance XChange account starts from RM100.
Alliance XChange transactions can only be performed via allianceonline from 9.30 am to 4.30 pm. on business days in Kuala Lumpur.
There are various uses of a foreign currency account including:
The Foreign Exchange Notices are administered by BNM under the Financial Services Act 2013 and Islamic Financial Services Act 2013 to accelerate the development of Malaysian financial market and to promote financial stability. Depending on your resident status and whether you have domestic ringgit borrowing / financing, undertaking of investment abroad and investment in foreign currency asset onshore may have limit imposed. For more info, visit BNM website. [Click here]
Yes. You can enjoy special Forex Rates called e-Rates when you convert online.
Yes. You can still choose to perform a transaction at the branch, e.g. sending/receiving a Foreign Telegraphic Transaction, currency conversion and account closing. All prevailing standard rates, fees and charges for OTC transactions at the branch shall apply. Please note that e-Rates are only applicable for transactions done with allianceonline.
Interest will be credited at the end of every month and paid in the respective foreign currency.
Latest interest rates can be obtained at Alliance Bank branches or website. [Click here]
This is a "ZERO FEE" account. No fees will be charged for account opening and maintenance of the account.
Withdrawals can only be made through the following methods:
There shall be no currency notes and coins transacted or dealt with in respect to the account.
No. You will not have to convert back to MYR, and the Telegraphic fund Transfer is straight through from the Alliance XChange account. You only need to pay for cable charges and all standard remittance commission charges. For fees and charges on remittances, kindly [Click here].
Call us up at 03-5516 9988 (Personal) / 1-300-80-3388 (Business) and we'll be happy to help you out.