The Cheapest Ways to Send Money Overseas from Malaysia in 2026

Cheapest money transfers from Malaysia right now

These examples show how much arrives after fees, which is more useful than choosing the service with the smallest transfer charge.

Use both tabs because fixed charges affect RM1,000 more heavily, while exchange-rate differences usually carry more weight at RM10,000.

Amount

AmountMYR 1,000MYR 10,000Custom

Last updated at 28/09/2026

MYR USD

Mid Market Rate RM 1 = $0.2448RM 1 = $0.2449

Transfer Amount RM 1,000RM 10,000

1

Instarem

2

Wise

3

WorldRemit

1

Wise

2

Xe

Receive amount

Transfer fee

FX rate

Markup

Delivery time

Cheapest payment method

$244.50

RM 0.00

0.2445

0.13%

Minutes - 24 hours

-

Visit

$241.55

RM 13.38

0.2448

0.01%

Same day

Bank transfer

Visit

$240.66

RM 5.00

0.2419

1.20%

Minutes - 2 days

Debit card

Visit

$2,432.10

RM 69.73

0.2449

0.00%

Same day

Bank transfer

Visit

$2,429.00

RM 0.00

0.2429

0.82%

Minutes - 24 hours

Bank transfer

Visit

MYR SGD

Mid Market Rate RM 1 = $0.3132RM 1 = $0.313

Transfer Amount RM 1,000RM 10,000

1

Instarem

2

Wise

1

Wise

2

Xe

Receive amount

Transfer fee

FX rate

Markup

Delivery time

Cheapest payment method

$312.70

RM 0.00

0.3127

0.15%

Minutes - 24 hours

-

Visit

$308.98

RM 13.16

0.3131

0.02%

Within minutes

Bank transfer

Visit

$3,109.29

RM 67.73

0.3130

0.01%

Within minutes

Bank transfer

Visit

$3,109.00

RM 0.00

0.3109

0.68%

Minutes - 24 hours

Bank transfer

Visit

MYR INR

Mid Market Rate RM 1 = ₹23.4963RM 1 = ₹23.509

Transfer Amount RM 1,000RM 10,000

1

Wise

2

WorldRemit

1

Xe

2

Wise

3

WorldRemit

Receive amount

Transfer fee

FX rate

Markup

Delivery time

Cheapest payment method

₹23,217.55

RM 11.83

23.4955

0.00%

Within minutes

Bank transfer

Visit

₹22,801.62

RM 5.00

22.9162

2.50%

Minutes - 2 days

Debit card

Visit

₹233,714.00

RM 0.00

23.3714

0.59%

Minutes - 24 hours

Bank transfer

Visit

₹233,135.74

RM 77.05

23.4946

0.06%

Within minutes

Bank transfer

Visit

₹229,047.42

RM 5.00

22.9162

2.55%

Minutes - 2 days

Debit card

Visit

MYR IDR

Mid Market Rate RM 1 = Rp 4,401.3522RM 1 = Rp 4,401.2713

Transfer Amount RM 1,000RM 10,000

1

Wise

1

Wise

2

Xe

Receive amount

Transfer fee

FX rate

Markup

Delivery time

Cheapest payment method

Rp 4,343,541.00

RM 12.03

4396.4300

0.11%

Within minutes

Bank transfer

Visit

Rp 43,639,074.00

RM 71.92

4395.5200

0.13%

Within minutes

Bank transfer

Visit

Rp 43,417,465.00

RM 0.00

4341.7465

1.36%

Minutes - 24 hours

Bank transfer

Visit

MYR GBP

Mid Market Rate RM 1 = £0.185RM 1 = £0.185

Transfer Amount RM 1,000RM 10,000

1

Instarem

2

Wise

1

Xe

2

Wise

3

WorldRemit

Receive amount

Transfer fee

FX rate

Markup

Delivery time

Cheapest payment method

£184.70

RM 0.00

0.1847

0.18%

Minutes - 24 hours

-

Visit

£182.97

RM 10.85

0.1850

0.01%

Within minutes

Bank transfer

Visit

£1,838.00

RM 0.00

0.1838

0.63%

Minutes - 24 hours

Bank transfer

Visit

£1,836.91

RM 68.08

0.1850

-0.02%

Within minutes

Bank transfer

Visit

£1,802.50

RM 5.00

0.1803

2.55%

Minutes - 2 days

Debit card

Visit

MYR BDT

Mid Market Rate RM 1 = ৳30.169RM 1 = ৳30.1572

Transfer Amount RM 1,000RM 10,000

1

Instarem

2

Wise

1

Wise

Receive amount

Transfer fee

FX rate

Markup

Delivery time

Cheapest payment method

৳30,014.40

RM 0.00

30.0144

0.51%

Minutes - 24 hours

-

Visit

৳29,514.69

RM 21.01

30.1481

0.07%

Same day

Bank transfer

Visit

৳298,151.03

RM 109.24

30.1444

0.04%

Same day

Bank transfer

Visit

MYR AUD

Mid Market Rate RM 1 = $0.3487RM 1 = $0.3488

Transfer Amount RM 1,000RM 10,000

1

Instarem

2

Wise

1

Wise

2

Xe

Receive amount

Transfer fee

FX rate

Markup

Delivery time

Cheapest payment method

$348.20

RM 0.00

0.3482

0.15%

Minutes - 24 hours

-

Visit

$344.99

RM 10.79

0.3488

-0.02%

Within minutes

Bank transfer

Visit

$3,466.18

RM 63.58

0.3488

-0.01%

Within minutes

Bank transfer

Visit

$3,458.00

RM 0.00

0.3458

0.85%

Minutes - 24 hours

Bank transfer

Visit

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Table updates weekly. All information comes directly from our comparisons, provider APIs, and manual rate collection.

Since MYR rates change all the time, this table shows the cheapest options right now to send from Malaysia, while the list below covers companies that are generally competitive for different types of transfer.

Cheapest services for sending money from Malaysia

Choose the recipient outcome first, then compare the transfer fee, funding cost, exchange rate and applicable tax.

9.2

Wise

Fees

0.1% - 2.6%

Exchange Rate Markup

0%

Transfer Speed

Minutes - 24 hours

Visit

"Over 15 million customers use Wise, mostly for their excellent mobile app, transparent fee structure & use of mid-market rates. Now increasingly used for larger transfers."

8.0

Instarem

Fees

$0 - $2

Exchange Rate Markup

0.3% - 1.9%

Transfer Speed

Minutes - 24 hours

Visit

"Most transfers are instant or same-day. Customers can earn rewards on every transaction."

8.7

WorldRemit

Fees

$1.99 - $2.99

Exchange Rate Markup

0.8% - 3%

Transfer Speed

Minutes - 2 days

Visit

"24/7 live chat support provided in six languages. Special first transfer rates available, with airtime topup supported to many countries in Africa, Asia and South America."

Wise

Wise shows the mid-market rate and transfer fee before you pay for a bank payout.

MYR funding comes from a Malaysian bank transfer or FPX, with no card or SWIFT funding for this local route.

The fee changes with the amount and destination, so a fixed-fee alternative can work out cheaper even when its exchange rate includes a margin.

Malaysia-resident citizens and expatriates can send up to RM30,000 daily, with a monthly ceiling of 13 cross-currency MYR transfers to seven unique recipients.

Temporary-employment-pass workers have a lower RM5,000 monthly limit and recipient restrictions, which can rule out the RM10,000 example.

The table below shows Wise quotes across seven currencies at RM1,000 and RM8,200.

BigPay

BigPay keeps small Asian transfers simple with FPX funding.

Current fixed fees include RM3.50 to India, RM4 to an Indonesian e-wallet and RM4.50 to an Indonesian bank or Singapore.

Bangladesh costs RM6, while the UK and EU also cost RM6 and Australia costs RM13 before the exchange-rate effect.

FPX top-ups are free, while a Malaysian credit-card top-up costs 1% and a foreign card costs 2.9%.

Loading RM1,000 with a local credit card therefore adds RM10 before the RM3.50 India fee and currency conversion.

I would fund through FPX when cost is the priority, then compare the recipient amount with Wise or Instarem.

Sunway Money

Sunway Money reduces its transfer fee on qualifying larger JPY and THB payments.

Most native-currency destinations cost RM8, while qualifying JPY payments from RM30,000 and THB payments from RM5,000 cost RM1.

You save RM7 on the transfer fee at those thresholds, although a worse exchange rate could easily outweigh that saving.

The exchange rate, possible SWIFT surcharge and recipient-bank deduction remain outside the visible transfer fee.

Personal limits reach RM30,000 daily after online e-KYC for Malaysians and expatriates, or RM50,000 after face-to-face verification.

Temporary-employment-pass workers are limited to RM5,000 monthly to their home country, changing which threshold is usable.

Instarem

Instarem can make repeat FPX-funded transfers cheaper when InstaPoints reduce a later payment.

Malaysia funding uses FPX and sends local currency into the recipient's bank account on supported routes.

Successful transfers earn InstaPoints that can be redeemed against future-transfer discounts, giving regular senders value beyond the first quote.

Count a points discount only when you can redeem it on the transfer you are making, rather than treating future rewards as an immediate saving.

Limits depend on the destination and funding route, while bank processing can extend an otherwise fast transfer.

I would compare the same repeat amount with Wise after applying only points that are already available to redeem.

Here is Instarem’s rate and fee for a RM1,000 transfer in USD, before any account-specific rewards.

MoneyMatch

MoneyMatch handles US bank payments and selected mobile-wallet transfers.

Its personal US transfer costs RM8, takes one to two business days and has an RM30,000 per-transfer limit.

For other destinations or wallet payouts, check the applicable charge before assuming the same RM8 fee covers your transfer.

Selected corridors can support wallets such as Bangladesh bKash or Philippine wallets, where recipient access can change the practical cost.

App verification can take one business day, so complete it before relying on an urgent quote or delivery estimate.

I would compare bank payouts with Wise and wallet payouts only with another service offering the same recipient method.

CIMB SpeedSend

CIMB SpeedSend suits existing customers making larger payments within its destination and personal limits.

The transfer fee is RM10 plus 8% SST, giving RM10.80 before the exchange-rate cost.

That flat service charge can work well on a larger payment, provided the exchange rate remains competitive with remittance apps.

SpeedSend has a RM50,000 daily online ceiling for ordinary customers and RM200,000 for Preferred customers.

FTT is a separate SWIFT product with its own channel fee, OUR Fullpay cost and possible correspondent deductions.

Use the SpeedSend quote only where the named corridor applies, then compare the recipient amount rather than the low fixed charge.

Maybank Western Union

I would use Maybank Western Union for cash collection below its RM9,999 daily limit.

Cash pickup starts from RM5 depending on destination and amount, while credit to a participating bank account costs RM10.

The cash-pickup fee can be low, but the exchange rate and recipient's travel cost still determine whether the route is cheaper.

The RM9,999 cap means this channel cannot handle a single RM10,000 transfer from the comparison above.

Maybank's separate FTT limit can be higher, but that does not expand the Western Union channel or preserve its fee.

I would compare Maybank Western Union only against another cash-pickup quote using the same collection location.

WorldRemit

WorldRemit is useful when card funding or cash delivery justifies the extra payment-method cost.

Malaysia customers can fund by bank deposit, debit card or credit card, with recipient methods changing by destination.

A card issuer may treat the payment as a cash advance and add a fee or interest, even when WorldRemit's own fee looks low.

The exchange-rate margin is separate from the transfer fee, making the final recipient amount the better repeat-cost measure.

The examples below cover transfers in IDR, INR, GBP and USD where WorldRemit quotes are available for the selected amount.

Compare your bank’s complete price

An online bank transfer can have a low service fee, with both CIMB Clicks FTT and Maybank online FTT charging RM10 before applicable extras.

The larger difference may be the exchange rate and overseas bank charges, especially when the beneficiary needs an exact invoice amount.

CIMB’s OUR Fullpay and Maybank’s Guaranteed OUR arrangements can add charges for covering overseas deductions, so request that price alongside the ordinary transfer quote.

Compare the total MYR debit required to deliver the same foreign-currency amount, rather than assuming an app always beats your existing bank.

Check whether SST is already included in a fee before adding tax, and never apply 8% to the transfer principal.

Keep funding fees and rewards in the calculation

A wallet transfer has two costs to check, loading the wallet and then sending the money overseas.

Free FPX funding preserves BigPay’s low fixed fee, whereas credit-card loading can cost more than the remittance charge itself.

With WorldRemit, check your card issuer’s cash-advance treatment before assuming a card-funded quote includes every charge you will pay.

A welcome discount can be useful for your first payment, but judge a regular monthly transfer using the price you will pay afterwards.

Our guide to money transfer companies in Malaysia covers the broader service choices when support or recipient access changes your decision.

How to save on an international transfer abroad from Malaysia

Use a current comparison for your amount and destination, then add any local bank or payout-specific quote that fits the recipient.