How to send money to Malaysia from Italy with the best EUR-MYR rate

Comparing money transfer companies with services between Italy and Malaysia, based on your specific transfer amount and transfer needs, is the best way to send money at the best price.

Right now, for EUR/MYR

• Of the 7 money transfer providers we tested and reviewed, Wise was a standout option for its combination of speed and cost. Sending 7,000 EUR to MYR will cost you €35.06 in fees, and you will receive 32,863.3 MYR.

• Regency FX offers the lowest cost transfers of the 7 providers we compared. Regency FX offers this through a combination of 0 EUR fee per transfer and exchange rate between EUR-MYR that is 0.27% different to the mid-market rate.

• Fastest way to send money to Malaysia from Italy is with Revolut. If you send 7,000 EUR with Revolut to Malaysia now, the transfer time is within minutes. Smaller transfers will likely be quicker, while larger transfers to Malaysia can take slightly longer.

We’ve compared 7 providers providing services between Italy and Malaysia. This ensures you will get the best options when sending Malaysian Ringgit to Malaysia.

Over the last 7 days, we’ve picked Wise as the best overall provider. However, comparing based on the amount you want to send to Malaysia will provide a specific provider that’s best for transferring money from Italy.

The exchange rate is the price you will pay when buying Malaysian Ringgit in Italy. A better exchange rate means you send more Malaysian Ringgits to Malaysia.

Currently, the mid-market rate between the Euro and Malaysian Ringgit is 4.7173. Exchange rates between EUR-MYR change almost constantly.

The cost of sending money from Malaysia to Malaysia, is made-up of a combination of fees and exchange rates:

• The Mid-Market and Exchange Rates: The mid-market rate determines a mid-price for buying currency. The current mid-market rate from EUR-MYR is 4.7173 MYR per Euro.

• Fees: Outside of exchange rates, you may need to pay a fee to send. Regency FX currently offers the lowest fees on transfers to Malaysia from Italy, costing 0 EUR per transfer. Although this does include large transfers as well, we recommend searching for your exact send amount for an exact fee.

• Amount Received: The amount received in Malaysian Ringgit is the amount you started with, minus the amount you paid in the exchange and fees.

Waiting a day or two can help you get more MYR for the same amount of Euros, but you may also end up paying more if you do wait.

A better option is to use a forward contract. This allows you to lock in an agreed exchange rate for transfers between Italy and Malaysia for a set amount of time, this can be up to two years in some cases.

Sending through a money transfer company via a bank transfer will most often be the way to get the best price when sending money from Italy to Malaysia.

Here are all the ways to send money from Italy to Malaysia:

Bank transfers

Bank transfers are often the better option for money transfers from Italy to Malaysia.

Sending money via a bank transfer with a company such as Regency FX for transfers from Italy to Malaysia allows you to benefit from lower fees and more favorable exchange rates than you would get with a traditional bank. 


Debit and prepaid cards

Sending money from Italy to Malaysia with a prepaid or a debit card is very simple with Wise.


Wise is a leader in card payments for transfers from Italy to Malaysia, competing among a total of 7 active money transfer companies on this route.

Credit cards

When it comes to international credit card transfers from Italy to Malaysia, we recommend comparing your options to get the best deal.

Beware of fees: using a credit card to transfer money often results in a fee being charged by your card issuer. Where possible, we recommend a bank transfer or debit card payment instead.

and have different regulators for financial transactions and ensuring you fully understand these regulations will aid in keeping your money safe.

Our directory of worldwide financial regulators has regulation details for money transfers between Italy and Malaysia.

Money transfer companies offering services between Italy and Malaysia have minimum or maximum thresholds on how much you can send or receive. These can be daily, weekly or monthly.

In particular, rates and fees for sending different amounts of Euro could change. We always recommend comparing EUR-MYR rates for your specific transfer amount. Then, with transfers to Malaysia, shopping around each time can make a huge difference - as some providers offer introductory rates.

If you’re worried about transfer limits, for sending large amounts of EUR to Malaysia, we’d recommend Wise.

There are different options for receiving Malaysian Ringgit in Malaysia. The most popular are direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account. Not all providers offering transfers from Italy to Malaysia will offer every method for incoming Malaysian Ringgit, so it’s best to check ahead of time.

Sending directly to a bank account is one of the most common ways to send money from Italy into Malaysia. For most part, this is because it means the recipient has to do very little. Wise is the best company for bank transfers between Italy and Malaysia.

And if you need cash right away, check if cash pickup is an option for transfers between Italy and Malaysia.

Mobile wallet services and payment apps like PayPal, Xoom, and CashApp are popular too, but they come with more limitations and higher costs compared to money transfer providers like Regency FX.

You will need to verify your ID at the sign up stage when sending from Italy to Malaysia through a money transfer company.

Documents needed will vary and in some cases you might need a couple of different forms of ID.

ID can be verified in Italy through a government issued ID such as a passport or driver's license. If the recipient needs ID to collect money in Malaysia, both of these will also likely be accepted. Depending on the company you are using and where the money is going in Malaysia, it’s always best to check ahead just in case.

Larger transactions between Italy and Malaysia are likely to be subject to additional checks such as proof of funds for anti-money laundering purposes. This could slow down the process of sending money if you’re not prepared for them.

One of the reasons Wise scored so highly for large and regular transfers to Malaysia, was their easy sign up process in Italy.

When sending money between Italy and Malaysia there will be tax declarations to consider.

Some transfers into Malaysian Ringgit may need to be reported to tax authorities in Malaysia. This is of particular note where inheritance or property purchases are involved.

Personal allowances and tax limits will change in Malaysia based on age, income and personal circumstance. When in doubt, please contact a tax professional in Italy or Malaysia to discuss your individual needs. This will ensure you are not missing any specific tax obligations associated with your transfer.