How to send money to Malaysia from Australia with the best AUD-MYR rate

Of the 11 companies we analysed, Remitly is the cheapest app overall for sending A$2,000 to Malaysia.

On a 2,000 AUD transfer it will get your recipient 5,758.6 MYR.

Best companies for AUD/MYR transfers

11 of 11 providers

Last updated on 28 October 2026

Based on 2,000 AUD transfer

Best companies for AUD/MYR transfers

Sort Cheapest
Ad

Wise

Pay via Bank Transfer
Fees: $7.97 1 AUD = 2.8686 MYR -0.02% vs mid-market Recipient gets RM 5,714.26 Within minutes
Receive to bank accountDedicated support for large transfers

Ways to receive money in Malaysia with Wise when paying by bank transfer.

MethodFee & ratesRecipient gets
Bank depositWithin minutesAvailable via:Bank Transfer
$7.971 AUD = 2.8686 MYR
RM 5,714.26You pay$2,000.00
Ad

Xe

Pay via Debit Card
Fees: $0.00 1 AUD = 2.8544 MYR +0.48% vs mid-market Recipient gets RM 5,708.70 6-12 Hours
Receive to bank accountDedicated support for larger transactions

Ways to receive money in Malaysia with Xe when paying by debit card.

MethodFee & ratesRecipient gets
Bank deposit6-12 Hours
Free1 AUD = 2.8544 MYR
RM 5,708.70You pay$2,000.00

Run a live search

Showing top Australia to Malaysia deals for 2,000 AUD. Do a live search with your exact amount for today's best rates.

Remitly

Pay via PayTo
Fees: $0.00 1 AUD = 2.8793 MYR -0.39% vs mid-market Recipient gets RM 5,758.60 Within a week
Cheapest
Receive to bank account or cash pickup

Ways to receive money in Malaysia with Remitly when paying by payto.

MethodFee & ratesRecipient gets
Bank depositWithin a week
Free1 AUD = 2.8793 MYR
RM 5,758.60You pay$2,000.00

Western Union

Pay via Debit Card
Fees: $0.00 1 AUD = 2.8712 MYR -0.11% vs mid-market Recipient gets RM 5,742.46 Next Day
Receive to bank account or cash pickup

Ways to receive money in Malaysia with Western Union when paying by debit card.

MethodFee & ratesRecipient gets
Bank depositNext Day
Free1 AUD = 2.8712 MYR
RM 5,742.46You pay$2,000.00

Western Union

Pay via Bank Transfer
Fees: $0.00 1 AUD = 2.8712 MYR -0.11% vs mid-market Recipient gets RM 5,742.46 Next Day
Receive to bank account or cash pickup

Ways to receive money in Malaysia with Western Union when paying by bank transfer.

MethodFee & ratesRecipient gets
Bank depositNext Day
Free1 AUD = 2.8712 MYR
RM 5,742.46You pay$2,000.00

Instarem

Pay via PayID
Fees: $0.00 1 AUD = 2.8654 MYR +0.09% vs mid-market Recipient gets RM 5,730.80 6-12 Hours
Receive to bank account

Ways to receive money in Malaysia with Instarem when paying by payid.

MethodFee & ratesRecipient gets
Bank deposit6-12 Hours
Free1 AUD = 2.8654 MYR
RM 5,730.80You pay$2,000.00

Instarem

Pay via Bank Transfer
Fees: $0.00 1 AUD = 2.8654 MYR +0.09% vs mid-market Recipient gets RM 5,730.80 6-12 Hours
Receive to bank account

Ways to receive money in Malaysia with Instarem when paying by bank transfer.

MethodFee & ratesRecipient gets
Bank deposit6-12 Hours
Free1 AUD = 2.8654 MYR
RM 5,730.80You pay$2,000.00

TapTap Send

Pay via Debit Card
Fees: $0.00 1 AUD = 2.8600 MYR +0.28% vs mid-market Recipient gets RM 5,720.00 Minutes
Receive to bank account

Ways to receive money in Malaysia with TapTap Send when paying by debit card.

MethodFee & ratesRecipient gets
Bank depositMinutes
Free1 AUD = 2.8600 MYR
RM 5,720.00You pay$2,000.00
Mobile walletMinutesAvailable via:BigPay
Free1 AUD = 2.8600 MYR
RM 5,720.00You pay$2,000.00
DuitNowMinutesAvailable via:TNG via DuitNow
Free1 AUD = 2.8600 MYR
RM 5,720.00You pay$2,000.00
Pricing based on Revolut Standard plan

Revolut

Pay via Bank Transfer
Fees: $3.00 1 AUD = 2.8633 MYR +0.16% vs mid-market Recipient gets RM 5,717.98 Within minutes
Fastest
Receive to bank account

Ways to receive money in Malaysia with Revolut when paying by bank transfer.

MethodFee & ratesRecipient gets
Bank depositWithin minutes
$3.001 AUD = 2.8633 MYR
RM 5,717.98You pay$2,000.00

US Disclaimer: Revolut is not a bank. Banking services are provided by Lead Bank, Member FDIC. Fees may apply. See revolut.com/en-US/ for details.

Wise

Pay via Bank Transfer
Fees: $7.97 1 AUD = 2.8686 MYR -0.02% vs mid-market Recipient gets RM 5,714.26 Within minutes
Recommended
Receive to bank accountDedicated support for large transfers

Ways to receive money in Malaysia with Wise when paying by bank transfer.

MethodFee & ratesRecipient gets
Bank depositWithin minutesAvailable via:Bank Transfer
$7.971 AUD = 2.8686 MYR
RM 5,714.26You pay$2,000.00

Wise

Pay via Osko
Fees: $7.97 1 AUD = 2.8686 MYR -0.02% vs mid-market Recipient gets RM 5,714.26 Within minutes
Receive to bank accountDedicated support for large transfers

Ways to receive money in Malaysia with Wise when paying by osko.

MethodFee & ratesRecipient gets
Bank depositWithin minutesAvailable via:Bank Transfer
$7.971 AUD = 2.8686 MYR
RM 5,714.26You pay$2,000.00
$0 fee on first online transfers

MoneyGram

Pay via Debit Card
Fees: $2.99 1 AUD = 2.8550 MYR +0.45% vs mid-market Recipient gets RM 5,710.00 6-12 Hours

Ways to receive money in Malaysia with MoneyGram when paying by debit card.

MethodFee & ratesRecipient gets
Bank deposit6-12 HoursAvailable via:All Banks
$2.991 AUD = 2.8550 MYR
RM 5,710.00You pay$2,002.99
Mobile wallet6-12 HoursAvailable via:Select Wallets
$2.991 AUD = 2.8542 MYR
RM 5,708.40You pay$2,002.99
Cash pickup6-12 Hours
$2.991 AUD = 2.8529 MYR
RM 5,705.80You pay$2,002.99
$0 fee on first online transfers

MoneyGram

Pay via POLi
Fees: $2.99 1 AUD = 2.8550 MYR +0.45% vs mid-market Recipient gets RM 5,710.00 6-12 Hours

Ways to receive money in Malaysia with MoneyGram when paying by poli.

MethodFee & ratesRecipient gets
Bank deposit6-12 HoursAvailable via:All Banks
$2.991 AUD = 2.8550 MYR
RM 5,710.00You pay$2,002.99
Mobile wallet6-12 HoursAvailable via:Select Wallets
$2.991 AUD = 2.8542 MYR
RM 5,708.40You pay$2,002.99
Cash pickup6-12 Hours
$2.991 AUD = 2.8529 MYR
RM 5,705.80You pay$2,002.99
$0 fee on first online transfers

MoneyGram

Pay via Credit Card
Fees: $2.99 1 AUD = 2.8550 MYR +0.45% vs mid-market Recipient gets RM 5,710.00 6-12 Hours

Ways to receive money in Malaysia with MoneyGram when paying by credit card.

MethodFee & ratesRecipient gets
Bank deposit6-12 HoursAvailable via:All Banks
$2.991 AUD = 2.8550 MYR
RM 5,710.00You pay$2,002.99
Mobile wallet6-12 HoursAvailable via:Select Wallets
$2.991 AUD = 2.8542 MYR
RM 5,708.40You pay$2,002.99
Cash pickup6-12 Hours
$2.991 AUD = 2.8529 MYR
RM 5,705.80You pay$2,002.99

Xe

Pay via Debit Card
Fees: $0.00 1 AUD = 2.8544 MYR +0.48% vs mid-market Recipient gets RM 5,708.70 6-12 Hours
Receive to bank accountDedicated support for larger transactions

Ways to receive money in Malaysia with Xe when paying by debit card.

MethodFee & ratesRecipient gets
Bank deposit6-12 Hours
Free1 AUD = 2.8544 MYR
RM 5,708.70You pay$2,000.00

Xe

Pay via Bank Transfer
Fees: $0.00 1 AUD = 2.8544 MYR +0.48% vs mid-market Recipient gets RM 5,708.70 6-12 Hours
Receive to bank accountDedicated support for larger transactions

Ways to receive money in Malaysia with Xe when paying by bank transfer.

MethodFee & ratesRecipient gets
Bank deposit6-12 Hours
Free1 AUD = 2.8544 MYR
RM 5,708.70You pay$2,000.00

Xe

Pay via Credit Card
Fees: $0.00 1 AUD = 2.8544 MYR +0.48% vs mid-market Recipient gets RM 5,708.70 6-12 Hours
Receive to bank accountDedicated support for larger transactions

Ways to receive money in Malaysia with Xe when paying by credit card.

MethodFee & ratesRecipient gets
Bank deposit6-12 Hours
Free1 AUD = 2.8544 MYR
RM 5,708.70You pay$2,000.00

OFX

Pay via Bank Transfer
Fees: $0.00 1 AUD = 2.8494 MYR +0.65% vs mid-market Recipient gets RM 5,698.74 6-12 Hours
Receive to bank account

Ways to receive money in Malaysia with OFX when paying by bank transfer.

MethodFee & ratesRecipient gets
Bank deposit6-12 Hours
Free1 AUD = 2.8494 MYR
RM 5,698.74You pay$2,000.00

Wise

Pay via Debit Card
Fees: $13.50 1 AUD = 2.8686 MYR -0.02% vs mid-market Recipient gets RM 5,698.39 Within minutes
Receive to bank accountDedicated support for large transfers

Ways to receive money in Malaysia with Wise when paying by debit card.

MethodFee & ratesRecipient gets
Bank depositWithin minutesAvailable via:Bank Transfer
$13.501 AUD = 2.8686 MYR
RM 5,698.39You pay$2,000.00

OrbitRemit

Pay via Bank Transfer
Fees: $0.00 1 AUD = 2.8491 MYR +0.66% vs mid-market Recipient gets RM 5,698.18 2 Days

Ways to receive money in Malaysia with OrbitRemit when paying by bank transfer.

MethodFee & ratesRecipient gets
Bank deposit2 Days
Free1 AUD = 2.8491 MYR
RM 5,698.18You pay$2,000.00

Panda Remit

Pay via Bank Transfer
Fees: $5.99 1 AUD = 2.8558 MYR +0.43% vs mid-market Recipient gets RM 5,694.49 6-12 Hours
0 reviews

Ways to receive money in Malaysia with Panda Remit when paying by bank transfer.

MethodFee & ratesRecipient gets
Bank deposit6-12 Hours
$5.991 AUD = 2.8558 MYR
RM 5,694.49You pay$2,000.00

Instarem

Pay via Debit Card
Fees: $24.00 1 AUD = 2.8654 MYR +0.09% vs mid-market Recipient gets RM 5,662.03 6-12 Hours
Receive to bank account

Ways to receive money in Malaysia with Instarem when paying by debit card.

MethodFee & ratesRecipient gets
Bank deposit6-12 Hours
$24.001 AUD = 2.8654 MYR
RM 5,662.03You pay$2,000.00

Instarem

Pay via Credit Card
Fees: $24.00 1 AUD = 2.8654 MYR +0.09% vs mid-market Recipient gets RM 5,662.03 6-12 Hours
Receive to bank account

Ways to receive money in Malaysia with Instarem when paying by credit card.

MethodFee & ratesRecipient gets
Bank deposit6-12 Hours
$24.001 AUD = 2.8654 MYR
RM 5,662.03You pay$2,000.00

Remitly

Pay via Debit Card
Fees: $0.00 1 AUD = 2.8299 MYR +1.34% vs mid-market Recipient gets RM 5,659.80 Within minutes
Receive to bank account or cash pickup

Ways to receive money in Malaysia with Remitly when paying by debit card.

MethodFee & ratesRecipient gets
Bank depositWithin minutes
Free1 AUD = 2.8299 MYR
RM 5,659.80You pay$2,000.00

Remitly

Pay via Credit Card
Fees: $0.00 1 AUD = 2.8299 MYR +1.34% vs mid-market Recipient gets RM 5,659.80 Within minutes
Receive to bank account or cash pickup

Ways to receive money in Malaysia with Remitly when paying by credit card.

MethodFee & ratesRecipient gets
Bank depositWithin minutes
Free1 AUD = 2.8299 MYR
RM 5,659.80You pay$2,000.00

Wise

Pay via Credit Card
Fees: $27.04 1 AUD = 2.8686 MYR -0.02% vs mid-market Recipient gets RM 5,659.55 Within minutes
Receive to bank accountDedicated support for large transfers

Ways to receive money in Malaysia with Wise when paying by credit card.

MethodFee & ratesRecipient gets
Bank depositWithin minutesAvailable via:Bank Transfer
$27.041 AUD = 2.8686 MYR
RM 5,659.55You pay$2,000.00
How Our Results Work
Mid-market rate: 1 AUD = 2.8680 MYR Updates every 60 minutes.

How to send money from Australia to Malaysia

Pick a company

Start with the cheapest, which is Remitly at 5,758.6 MYR on A$2,000.

Remitly was the cheapest on 12 of the 24 days it quoted A$2,000 transfers to Malaysia.

Funding is quick whoever you pick, so the choice comes down to the rate and how your recipient collects it.

Fund your transfer

You have 7 ways to pay, including bank transfer, debit card, credit card, payto, payid, osko, and poli.

PayID and Osko move money to the company in seconds at no cost, and PayID shows you the account name before you confirm.

Watch your bank's daily limit on anything large.

Verify and send

First time round you'll need a photo ID, usually a licence or a passport.

A passport and visa are enough if you’re new (you don’t need an Australian credit history).

Compare amounts

How much AUD are you sending to Malaysia?

How much AUD you send to Malaysia heavily affects the best ways and the cheapest options. Use the table below to check how the cheapest options change and how much more you'd get by comparing.

Our analysis shows Remitly was the cheapest in 58% of the transfers up to A$2,000 it quoted, and in 59% of all the transfers it quoted.

Cheapest service
$1,000-1.19%$0.00RM 2,902.60with payto to bank deposit+RM 56.96
$1,200-0.92%$0.00RM 3,476.16with payto to bank deposit+RM 58.63
$1,500-0.67%$0.00RM 4,331.40with payto to bank deposit+RM 50.59
$2,000This page-0.39%$0.00RM 5,758.60with payto to bank deposit+RM 53.57
$3,000-0.13%$0.00RM 8,616.60with payto to bank deposit+RM 58.72
$7,500-0.12%$0.00RM 21,534.24with debit card to bank deposit+RM 123.56
$12,0000.27%$0.00RM 34,320.11with bank transfer to bank deposit+RM 86.22
$15,0000.24%$0.00RM 42,900.00with debit card to bank deposit+RM 112.83
$50,0000.25%$0.00RM 143,055.32with bank transfer to bank deposit+RM 327.61
$100,0000.25%$0.00RM 286,055.27with bank transfer to bank deposit+RM 591.91
$250,0000.20%$0.00RM 715,496.64with bank transfer to bank deposit+RM 1,798.95
$500,0000.20%$0.00RM 1,430,553.16with bank transfer to bank deposit+RM 3,372.80

Mid-market rate: 1 AUD = 2.8680 MYR

AUD/MYR Exchange Rate History

Is today a good time to send money from Australia to Malaysia?

The cheapest way to send AUD to MYR can change every day, or stay with the same company all month.

We've compared the mid-market rate with the cheapest option each day (today it's Remitly), across 30 days of comparisons for 2,000 AUD transfers to Malaysia.

MYR received for $2,000, after fees

Wed, 28 Oct 2026Mid-market rateRM 5,736.02 Remitly RM 5,758.60RemitlyRM 5,758.60Western UnionRM 5,742.46InstaremRM 5,730.80

5,550
5,600
5,650
5,700
5,750
5,800
5,850
At the mid-market rateWith the cheapest optionRemitlyWestern UnionInstarem
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8503 – RM 5,700.69
Panda Remit Cheapest 2.9066 $5.99 RM 5,795.79 +RM 95.10
Western Union 2.8673 $0.00 RM 5,734.64 +RM 33.95
Remitly 2.8433 $0.00 RM 5,686.60 −RM 14.09
Instarem No quote collected this day – – – –
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8461 – RM 5,692.21
Panda Remit Cheapest 2.9066 $5.99 RM 5,795.79 +RM 103.58
Western Union 2.8488 $0.00 RM 5,697.55 +RM 5.34
Remitly 2.8364 $0.00 RM 5,672.80 −RM 19.41
Instarem 2.8445 $24.00 RM 5,620.73 −RM 71.48
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8415 – RM 5,683.02
Panda Remit Cheapest 2.9066 $5.99 RM 5,795.79 +RM 112.77
Western Union 2.8387 $0.00 RM 5,677.31 −RM 5.71
Remitly 2.8311 $0.00 RM 5,662.20 −RM 20.82
Instarem No quote collected this day – – – –
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8340 – RM 5,667.91
Panda Remit Cheapest 2.9066 $5.99 RM 5,795.79 +RM 127.88
Instarem 2.8321 $0.00 RM 5,664.20 −RM 3.71
Western Union 2.8302 $0.00 RM 5,660.37 −RM 7.54
Remitly 2.8221 $0.00 RM 5,644.20 −RM 23.71
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8304 – RM 5,660.86
Panda Remit Cheapest 2.9066 $5.99 RM 5,795.79 +RM 134.93
Instarem 2.8361 $0.00 RM 5,672.20 +RM 11.34
Western Union 2.8324 $0.00 RM 5,664.75 +RM 3.89
Remitly No quote collected this day – – – –
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8304 – RM 5,660.86
Panda Remit Cheapest 2.9066 $5.99 RM 5,795.79 +RM 134.93
Western Union 2.8324 $0.00 RM 5,664.75 +RM 3.89
Remitly 2.8290 $0.00 RM 5,658.00 −RM 2.86
Instarem No quote collected this day – – – –
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8354 – RM 5,670.86
Western Union Cheapest 2.8396 $0.00 RM 5,679.21 +RM 8.35
Remitly No quote collected this day – – – –
Instarem No quote collected this day – – – –
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8456 – RM 5,691.20
Western Union Cheapest 2.8461 $0.00 RM 5,692.27 +RM 1.07
Remitly No quote collected this day – – – –
Instarem No quote collected this day – – – –
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8478 – RM 5,695.69
Western Union Cheapest 2.8508 $0.00 RM 5,701.60 +RM 5.91
Remitly No quote collected this day – – – –
Instarem No quote collected this day – – – –
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8426 – RM 5,685.23
Panda Remit Cheapest 2.9066 $5.99 RM 5,795.79 +RM 110.56
Western Union 2.8434 $0.00 RM 5,686.77 +RM 1.54
Instarem 2.8421 $0.00 RM 5,684.20 −RM 1.03
Remitly 2.8317 $0.00 RM 5,663.40 −RM 21.83
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8544 – RM 5,708.81
Panda Remit Cheapest 2.9066 $5.99 RM 5,795.79 +RM 86.98
Instarem 2.8520 $0.00 RM 5,704.00 −RM 4.81
Western Union 2.8450 $0.00 RM 5,690.01 −RM 18.80
Remitly 2.8442 $0.00 RM 5,688.40 −RM 20.41
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8460 – RM 5,691.92
Panda Remit Cheapest 2.9066 $5.99 RM 5,795.79 +RM 103.87
Western Union 2.8515 $0.00 RM 5,703.00 +RM 11.08
Instarem 2.8494 $0.00 RM 5,698.80 +RM 6.88
Remitly 2.8422 $0.00 RM 5,684.40 −RM 7.52
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8460 – RM 5,691.92
Panda Remit Cheapest 2.9066 $5.99 RM 5,795.79 +RM 103.87
Western Union 2.8515 $0.00 RM 5,703.00 +RM 11.08
Instarem 2.8494 $0.00 RM 5,698.80 +RM 6.88
Remitly 2.8422 $0.00 RM 5,684.40 −RM 7.52
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8509 – RM 5,701.85
Panda Remit Cheapest 2.9066 $5.99 RM 5,795.79 +RM 93.94
Western Union 2.8530 $0.00 RM 5,705.93 +RM 4.08
Remitly 2.8399 $0.00 RM 5,679.80 −RM 22.05
Instarem No quote collected this day – – – –
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8465 – RM 5,692.94
Panda Remit Cheapest 2.9066 $5.99 RM 5,795.79 +RM 102.85
Remitly 2.8588 $0.00 RM 5,717.60 +RM 24.66
Western Union 2.8431 $0.00 RM 5,686.18 −RM 6.76
Instarem No quote collected this day – – – –
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8602 – RM 5,720.41
Remitly Cheapest 2.8722 $0.00 RM 5,744.40 +RM 23.99
Western Union 2.8485 $0.00 RM 5,697.07 −RM 23.34
Instarem No quote collected this day – – – –
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8321 – RM 5,664.22
Western Union Cheapest 2.8457 $0.00 RM 5,691.35 +RM 27.13
Remitly 2.8440 $0.00 RM 5,688.00 +RM 23.78
Instarem No quote collected this day – – – –
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8406 – RM 5,681.24
Revolut Cheapest 2.8361 $3.00 RM 5,663.68 −RM 17.56
Instarem 2.8378 $24.00 RM 5,607.49 −RM 73.75
Remitly No quote collected this day – – – –
Western Union No quote collected this day – – – –
Exchange rateFees:Recipient getsDifference
Mid-market rate – – –
Remitly Cheapest 2.8462 $0.00 RM 5,692.40 –
Western Union 2.8338 $0.00 RM 5,667.57 –
Instarem No quote collected this day – – – –
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8435 – RM 5,687.09
Remitly Cheapest 2.8462 $0.00 RM 5,692.40 +RM 5.31
Western Union 2.8338 $0.00 RM 5,667.57 −RM 19.52
Instarem 2.8311 $0.00 RM 5,662.20 −RM 24.89
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8482 – RM 5,696.39
Revolut Cheapest 2.8433 $3.00 RM 5,678.01 −RM 18.38
Remitly No quote collected this day – – – –
Western Union No quote collected this day – – – –
Instarem No quote collected this day – – – –
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8570 – RM 5,713.98
Remitly Cheapest 2.8691 $0.00 RM 5,738.20 +RM 24.22
Western Union 2.8485 $0.00 RM 5,697.07 −RM 16.91
Instarem No quote collected this day – – – –
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8659 – RM 5,731.77
Remitly Cheapest 2.8781 $0.00 RM 5,756.20 +RM 24.43
Instarem 2.8638 $0.00 RM 5,727.60 −RM 4.17
Western Union 2.8586 $0.00 RM 5,717.25 −RM 14.52
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8634 – RM 5,726.75
Remitly Cheapest 2.8751 $0.00 RM 5,750.20 +RM 23.45
Western Union 2.8672 $0.00 RM 5,734.38 +RM 7.63
Instarem No quote collected this day – – – –
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8673 – RM 5,734.69
Remitly Cheapest 2.8789 $0.00 RM 5,757.80 +RM 23.11
Instarem 2.8659 $0.00 RM 5,731.80 −RM 2.89
Western Union 2.8630 $0.00 RM 5,725.99 −RM 8.70
Exchange rateFees:Recipient getsDifference
Mid-market rate – – –
Remitly Cheapest 2.8855 $0.00 RM 5,771.00 –
Western Union 2.8706 $0.00 RM 5,741.17 –
Instarem No quote collected this day – – – –
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8499 – RM 5,699.82
Remitly Cheapest 2.8855 $0.00 RM 5,771.00 +RM 71.18
Western Union 2.8706 $0.00 RM 5,741.17 +RM 41.35
Instarem 2.8702 $0.00 RM 5,740.40 +RM 40.58
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8715 – RM 5,742.97
Remitly Cheapest 2.8825 $0.00 RM 5,765.00 +RM 22.03
Western Union 2.8732 $0.00 RM 5,746.43 +RM 3.46
Instarem No quote collected this day – – – –
Exchange rateFees:Recipient getsDifference
Mid-market rate – – –
Remitly Cheapest 2.8791 $0.00 RM 5,758.20 –
Western Union 2.8670 $0.00 RM 5,734.06 –
Instarem No quote collected this day – – – –
Exchange rateFees:Recipient getsDifference
Mid-market rate 2.8680 – RM 5,736.02
Remitly Cheapest 2.8793 $0.00 RM 5,758.60 +RM 22.58
Western Union 2.8712 $0.00 RM 5,742.46 +RM 6.44
Instarem 2.8654 $0.00 RM 5,730.80 −RM 5.22

Exchange rateFees:Recipient getsDifference

Each line shows what the recipient gets when you send $2,000, after fees, as quoted by each company. The mid-market line shows what $2,000 converts to at the real exchange rate, with no fees or markup. Rates are checked once a day. Sponsored placements never affect this data. There are no bank quotes for this period.

The dashed line is what you'd get at the mid-market rate with no fees, and the blue line is the cheapest option that day.

When the blue line goes above the dashed one, you're getting more MYR per AUD than the mid-market rate can offer.

This could be due to money transfer offers, FX rate adjustments, or market competitiveness.

In the past month, a money transfer company beat the mid-market rate on 25 of the last 30 days.

Right now, Remitly pays 5,758.6 MYR on 2,000 AUD, which is 22.58 MYR more than the mid-market amount, so it's a good deal (pretty much free money).

Today's payout isn't the best this month though, since the highest receive amount was 5,795.79 MYR.

If you can wait and want to get the most out of your transfer, create a rate alert and we'll let you know when the rate improves.

If you need to send money now, it's a good time to send.

Cheapest over time

Picking the cheapest money transfer company

Just because a company is the cheapest today doesn't mean it's always the best option for sending money to Malaysia.

We've tracked 332 comparisons to check how often today's top companies were the cheapest across 12 amounts over the past month.

  1. RemitlyAppeared in 111 comparisons

    Cheapest in 59% of them

  2. Western UnionAppeared in 163 comparisons

    Cheapest in 14% of them

  3. InstaremAppeared in 56 comparisons

    Cheapest in 4% of them

Based on 332 comparisons across 12 amounts over the last 30 days.

Different companies can come out cheapest depending on the day and the amount you send.

To keep things fair, we only count the comparisons each company appeared in, and only analyse companies that appeared in at least 50% of all comparisons (so occasional cheapest options don't skew it).

Today Remitly is the cheapest, but it only quotes some of the amounts we track, so it isn't included in these figures.

Ways to send money from Australia to Malaysia

11 money transfer companies let you send money from Australia to Malaysia.

Cheapest for most transfers

Online transfers

Sending money online with a “self-service” provider is usually the cheapest way to send money to Malaysia.

For example, sending A$2,000 with Remitly will get you 5,758.6 MYR after a A$0 fee and -0.39% markup.

In our comparisons over the past month, it was the cheapest online service on 12 of the 24 days it quoted.

To speed up the transfer, use PayID or bank transfer, this will ensure your money is withdrawn instantly from your AU bank account.

Plus, PayID shows the registered payee name, which gives you an extra check against the details you entered.

For regular transfers home

Money transfer apps

An app suits the transfer you make over and over to the same recipient, similar amount, every payday or so.

Remitly takes A$0 in fees and -0.39% markup on a A$2,000 transfer, and your MYR arrives in within a week.

Over the past month, Remitly was the cheapest app on 50% of the days it appeared for A$2,000 transfers.

Signing up is quick even if you're new to Australia.

A passport and visa are enough for most money transfer apps, and no local credit history is needed.

For large AUD transfers

Currency brokers

Money transfer brokers are best for large transfers, like buying property, moving abroad, or paying student fees.

On transfers of $10,000 or more, a broker like Xe drops the fee entirely and works on margin instead.

With Xe you get 0.48% on AUD/MYR, and it gets lower the more you send.

You also get an account manager for the whole thing.

Our analysis shows Xe was the cheapest broker in 46% of all the transfers it quoted.

For overseas business payments

Business accounts

Global accounts like Airwallex are great for paying suppliers, contractors or staff in MYR, handling invoices, batch payments, and more.

For receiving and spending

Multi-currency accounts

Multi-currency accounts let you hold AUD and MYR in one account, and convert when the rate suits you.

Revolut converts A$2,000 at 0.16% markup, and the MYR sits in your account until you spend or transfer it.

Over the past month, it came out cheapest among multi-currency accounts on 63% of days.

Most useful if you travel often to Malaysia, split your life between two countries, or receive money from abroad.

We also created a guide going into more detail about multi currency accounts.

Ways to fund AUD and receive money in Malaysia

With Remitly, paying by payto and receiving through a bank deposit is the cheapest combination. Sending A$2,000 gives your recipient 5,758.6 MYR.

You can fund the transfer with bank transfer, debit card, credit card, payto, payid, osko, and poli.

You can pay with payid

Use the PayID supplied by the company and confirm the recipient name shown by your Australian bank before approving the payment.

Recipients in Malaysia can collect MYR through bank deposit, mobile wallet, duitnow, and cash pickup.

Your recipient can have MYR delivered to a mobile wallet, without a bank account.

Use our payout filters above to find the cheapest company offering mobile wallet withdrawals.

They can collect cash via Remitly

For cash collection, the recipient should take a photo ID and the transfer reference to a participating location in Malaysia.

  1. 1
    Payto Bank deposit

    You pay A$2,000.00

    RM5,759

    Cheapest

  2. 2
    Debit card Bank deposit

    You pay A$2,000.00

    RM5,742

    -RM16

  3. 3
    Bank transfer Bank deposit

    You pay A$2,000.00

    RM5,742

    -RM16

  4. 4
    Payid Bank deposit

    You pay A$2,000.00

    RM5,731

    -RM28

  5. 5
    Debit card Mobile wallet

    You pay A$2,000.00

    RM5,720

    -RM39

Show moreShow less
  1. 6
    Debit card Duitnow

    You pay A$2,000.00

    RM5,720

    -RM39

  2. 7
    Osko Bank deposit

    You pay A$2,000.00

    RM5,714

    -RM44

  3. 8
    Credit card Bank deposit

    You pay A$2,002.99

    RM5,710

    -RM49

  4. 9
    Poli Bank deposit

    You pay A$2,002.99

    RM5,710

    -RM49

  5. 10
    Credit card Mobile wallet

    You pay A$2,002.99

    RM5,708

    -RM50

  6. 11
    Poli Mobile wallet

    You pay A$2,002.99

    RM5,708

    -RM50

  7. 12
    Debit card Cash pickup

    You pay A$2,002.99

    RM5,706

    -RM53

  8. 13
    Credit card Cash pickup

    You pay A$2,002.99

    RM5,706

    -RM53

  9. 14
    Poli Cash pickup

    You pay A$2,002.99

    RM5,706

    -RM53

Consider this before sending AUD to Malaysia

Every international transfer is reportable by the company handling it, but that is not a tax or a form you normally file yourself. PayID can fund the transfer, while the overseas leg still needs a transfer provider.

Compare AUD/MYR transfer options

For a A$2,000 transfer to Malaysia, these are the best options right now:

Cheapest

Remitly is cheapest when funded by payto with bank deposit for the payout. Your recipient gets 5,758.6 MYR, which is 0.28% more than the next best option.

Fastest

Revolut delivers 5,717.98 MYR in within minutes when you use bank transfer and choose bank deposit as payout.

If you need money urgently, we've put together a guide on instant money transfers.

PayID is domestic only

PayID and Osko move Australian dollars between local accounts.

When a money transfer company accepts PayID, it collects the AUD in Australia and then handles the conversion and payout in Malaysia.

Confirm the registered business name shown by your bank before approving the PayID payment.

AUSTRAC reporting

The bank or remittance company reports international transfer instructions to AUSTRAC.

This applies to international transfers generally, rather than only those above A$10,000.

You do not normally submit the international transfer report yourself.

A separate threshold report applies when a transaction involves A$10,000 or more in physical cash.

Large or unusual transfers can still trigger source-of-funds checks. Keep the sale agreement, invoice or bank statement that explains the payment ready.

Cash gifts can affect Centrelink payments

Australia does not generally tax a genuine cash gift simply because you send it to family in Malaysia.

Gifting money can still affect income-tested or asset-tested Centrelink payments.

Services Australia can continue assessing gifts above its gifting free areas under the income and assets tests.

If you or your partner receive a relevant payment, check the gifting rules before sending a large amount.

Bank protection in Australia

The Financial Claims Scheme protects eligible Australian-dollar deposits with an Australian-incorporated ADI, up to A$250,000 per account holder per ADI.

It does not automatically cover money held by a non-bank transfer company.

In case of issues, if a complaint is not resolved, the Australian Financial Complaints Authority is the free external dispute service for member financial firms.

How we analyse the market

We track 11 companies sending AUD to Malaysia, all holding an Australian licence, with rates refreshed in real time when running a live search.

In the past 30 days alone, we analysed 332 comparisons across 12 amounts.

This page covers the cheapest and fastest options for AUD/MYR transfers. This is how we pick them:

  • Cheapest: the company that gets your recipient the most, after fees and the exchange rate. On a tie, live pricing from the company takes priority over the rates we collect by hand.

  • Fastest: the company with the shortest estimated delivery time once you’ve paid. On a tie, the one that pays out more takes priority.

Fees, exchange rates and the pay-in and payout options all get compared, and each company goes through our review before it appears.

More on who we are, why you can trust us and getting started.

Any tax information is for general guidance only and does not constitute tax advice. Speak to a qualified tax adviser about your circumstances.