How to send money to Indonesia from Malaysia with the best MYR-IDR rate

Comparing providers when sending money from Malaysia to Indonesia is the easiest way to make a transfer at the best price.

Right now, for MYR/IDR

• Wise is our recommended company for transferring Malaysian Ringgit to Indonesia. Sending 31,525 MYR to IDR will cost you RM246.75 in fees, and you will receive 136,294,349 IDR. The delivery time is within minutes, but it depends on the day you make the transfer.

• If you want to secure the best rates on a MYR to Indonesia transfer, Wise is the cheapest way to send money and will result in the most Rupiah received.

• Fastest way to send money from Malaysia to Indonesia is via Wise. Based on a RM31,525 transfer, Wise transfer time for MYR-IDR transfers is within minutes.

We’ve compared 2 providers for sending Malaysian Ringgit to Indonesia. This ensures you will get the best options for your transfer to Indonesia from Malaysia.

The exchange rate determines the price you will pay when buying Rupiah.

A better exchange rate and lower fees means more money being sent to Indonesia.

The total cost of sending money to Indonesia from Malaysia, is made-up of a combination of fees and exchange rates. Sending with a company that can offer a good deal on both ensures a good deal on your transfer.

• The Mid-Market and Exchange Rates: Currently, the mid-market for MYR-IDR is 4,358.8845 IDR per Malaysian Ringgit.

• Fees: Transfer fees may have to be paid alongside the transfer, either as a set fee or a percentage of the transfer. Wise has a fee of 246.75 MYR per transfer (which is the cheapest option right now for a RM31,525 transfer). Although you should search for your send amount to get live deals and lowest fees.

• Amount Received: Money transfer companies will show you the amount of Rupiah eventually received in Indonesia.

If you are paying for services in Rupiah from Malaysia, this can make a huge difference.

Understanding the averages, and then waiting a day or two can help you get more IDR for the same amount of Malaysian Ringgit.

You can also use a forward contract to lock in an agreed exchange rate between Malaysia and Indonesia.

Using a debit card to send via money transfer company is the payment method that will get you the best price when sending from Malaysia to Indonesia.

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

Bank transfers

Bank transfers are often the fastest and cheapest way to send money from Malaysia to Indonesia.

Using a money transfer company such as Wise for payments from Malaysia to Indonesia, means you can send via a bank transfer and benefit from lower fees and more favorable exchange rates than you would get with a traditional bank. 


Debit and prepaid cards

Sending money with a debit card from Malaysia to Indonesia is easy with WorldRemit.


WorldRemit is a leader in debit card money transfers from Malaysia to Indonesia. They are the best option of the 2 transfer companies compared.

Credit cards

Not many money transfer companies offer direct credit card deposits, because it is more expensive for everyone.

We recommend using a bank transfer or a debit card transfer if you can; otherwise, make a quick comparison to find the latest deal.

Ensuring you fully understand regulations in Malaysia and Indonesia will aid in keeping your money safe.

Our directory of worldwide financial regulators contains details on regulation for sending money between Malaysia and Indonesia.

Some companies offering money transfers between Malaysia and Indonesia have minimum or maximum thresholds on how much you can send or receive.

Rates and fees for different transfer amounts could change - that’s why it’s best to compare MYR-IDR rates for your specific transfer amount.

For regular transfers to Indonesia, shopping around each time can make a huge difference.

For sending large amounts of MYR to Indonesia we'd recommend using Wise. They offer a combination of rates and fees when sending from Malaysia to Indonesia that is the most competitive, even at larger amounts.

There are different options for receiving Rupiah in Indonesia.

The most popular are direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all companies offering transfers from Malaysia to Indonesia will offer every method for incoming Rupiah, so it’s best to check ahead of time.

Again, a comparison of MYR to IDR providers will tell you if the method for receiving is supported.

One of the most common ways to transfer money from Malaysia into Indonesia is by sending directly to a bank account. Wise is the best company for bank transfers between Malaysia and Indonesia.

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

P2P services and payment apps like PayPal, Xoom, and CashApp are popular because of convenience but are better for domestic transfers. For receiving international payments they come with more limitations and higher costs compared to money transfer options like multi-currency accounts.

If using a money transfer company to send Rupiahs to Indonesia, you will need to verify your ID at the sign up stage.

The documents you need will vary and in some cases you might need more than one.

ID can be verified in Malaysia through a government issued ID such as a passport or driver's license.

If the recipient needs an ID to collect money in Indonesia, it will be similar.

Large transactions between Malaysia and Indonesia, can be subject to additional checks. This includes proof of funds for anti-money laundering purposes.

One of the reasons Wise has scored so highly for transfers to Indonesia is their easy sign up process in Malaysia.

Sending regular, or larger amounts of money between Malaysia and Indonesia could mean there are tax declarations to consider.

Some transfers into Rupiah may need to be reported to tax authorities in Indonesia, particularly where inheritance or property purchases are involved.

Indonesia has many different tax obligations for residents and non-residents.

When in doubt, please contact a tax professional in Malaysia or Indonesia to discuss your personal circumstances. This ensures you are not missing any specific tax needs associated with your transfer.