that's touching on the prospect of a recession!

Yes.

Some banks may be more strict. If so, tell them you want to open for investment purpose like DCI

Whether how account treatment or not, it doesn't matter, it is still the same.
This topic is not about GST benefit consumer or not, or how GST impact, but how MNCs and large export corporation are not being affected by the weak currency. 

Business is never fair.
Rich enjoyed the most when QE was at its height, but when QE being pulled back time, just like current situation, the poor and middle class suffer the most.

The worldwide trend currently is big eat small. Look at how giant retailers crushed traditional grocery stores is the best example.

That's why I said SME will be the one suffer the most.
There is no such thing of given chance to survive or not, you need to find your own space to survive in business world.
Cashflow is the basic of managing the business.
If a company be it large or small do not know to manage cashflow including in the difficult period, the company doesn't deserve to survive, as simple as that.
Anyway, we are deviated too far out from the currency issues. 

RM is not freely traded offshore, not like last time prior before 1997.

Not all SMEs will fail, only weak one.
This is not the first time economy difficulty that business needs to go through.

Whatever you posted the spiralling effect down is as same as what many had been posted during 1986, 1998, 2002, 2008 or even the 2011 Euro debt crisis.

Economy is not forever doom or boom one.

If the % of SMEs falling is huge enough at the country level, then everybody is impacted in his/her livelihood in this country. Furthermore, if this weakening of the RM does not stop, the negative effects will croach into the 'stronger' SMEs too.

' Whatever you posted the spiralling effect down is as same as what many had been posted during 1986, 1998, 2002, 2008 or even the 2011 Euro debt crisis. '

Reply similar to immediate previous reply to yourself - This is not the first time we are going through this.

By the way, officially, the RM CANNOT be traded directly offshore. An eg of an indirect way to trade the RM will be through transactions done by contracts or everyday dealings initiated by 'local-based' organizations - by definition ! The contracts need not be direct RM buy-an-sell contracts. These are slip-throughs which cannot be avoided in this globalised world.

I'll give an eg here here, a very simpl one - an SME company which purchases its products and buys in the RM locally, exports the finished product overseas and parks the sales return in an overseas account in the USD. The RM has 'been converted' into the USD indirectly.

Edit : added final two paras..

DCI is not ordinary foreign currency current account or FD.

It is a structured investment, which normally need 250K as min.

U have decided to liquidate?

Tourism outward aka Malaysian travel to overseas business surely will be hit hard.

But tourism inward aka foreigner come to Malaysia should be good, because accommodation, foods and expenses become relatively cheaper for foreign tourists.

Just like Singaporean come to Malaysia to take a dinner, RM100, so cheap SGD 33 only, pump petrol in Malaysia only SGD 0.60, as compared SGD2.00 in Sg.

The goemn need maximum conversion from petronas US$ income to pay for budget, myr is likely to depreciate further hence should keep opr the same.

What you choose does matter?? Accorded to the standard practice, OPR will be increase to stabilizing the currency. It is because when OPR increase and Federal Reserve will be able to increase / gain faster. Government have no other choice as other resource such as oil cannot filling the target.

Be prepare for BR increase...      

Be aware, as government may increase personal income tax due to no other income... they cannot increase GST again less then 1 year...