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Companies for transfers from Malaysia to Indonesia
"Over 16 million customers use Wise, mostly for their excellent mobile app, transparent fee structure & use of mid-market rates. Now increasingly used for larger transfers."
"OFX have been helping individuals and businesses send money for over 25 years. Transfer in 50+ currencies to 170+ countries, with 24/7 phone access to currency experts."
"Over 16 million customers use Wise, mostly for their excellent mobile app, transparent fee structure & use of mid-market rates. Now increasingly used for larger transfers."
"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."
"OFX have been helping individuals and businesses send money for over 25 years. Transfer in 50+ currencies to 170+ countries, with 24/7 phone access to currency experts."
"Ria Money Transfer has over 35 yeas of trusted experience. Send money online to over 190 countries, and to over 500,000 pickup locations."
Our recommendation: Wise
We tested & reviewed 8 money transfer providers offering money transfers from Malaysia to Indonesia, and Wise scored highly.
In total, Wise appeared in 96% of Malaysia to Indonesia searches, and was the top rated company supporting transfers between MYR and IDR.
For a great mix of cost, speed & features, we recommend making your Malaysia to Indonesia transfer using Wise.
How to to send from Malaysia to Indonesia in the best way
- Always compare rates
Money transfers to Indonesia should be easy. Use our live comparison tool to make sure you aren't missing the best rates to send money from Malaysia to Indonesia.
- Choose a provider
Select the provider that offers you the best value on your Malaysian Ringgit & service for your needs.
- Click, sign up & send
Follow the steps & start your transfer. Your funds will soon be on their way to Indonesia.
Summary of recent searches
Considerations when sending from Malaysia to Indonesia
Comparing money transfer companies with services between Malaysia and Indonesia, based on your specific transfer amount and transfer needs, is the best way to send money at the best price.
For this route, we’ve compared 8 providers providing services between Malaysia and Indonesia. This ensures you will get the best options when sending Rupiah to Indonesia.
Over the last six months, we’ve picked Wise as the best overall provider. However, comparing based on the amount you want to send to Indonesia will provide a specific provider that’s best for transferring money from Malaysia.
Cheapest way to transfer money from Malaysia to Indonesia: Instarem
Our data shows Instarem is 1.4% cheaper than the second-best option. The company offers an average fee of 8.78* MYR and an average exchange rate between MYR and IDR that is 0.35% different to the mid-market rate.
For a cheap way to send MYR to Indonesia, Instarem is a great all round choice.
*The most common fee applied to MYR-IDR by Instarem, based on data from the past six months.
Fastest way to transfer money to Indonesia from Malaysia: Wise.
Wise was the quickest way to send Malaysian Ringgit to Rupiah in 82.5% of searches. For fast transfers between MYR and IDR, Wise comes highly recommended.
When using Wise to send money from Malaysia to Indonesia you can expect an average fee of 20.83 MYR. Although we would recommend comparing the amount you want to send.
When testing the 'fastest' options we compared 8 money transfer providers. To test overall speed of sending money from Malaysia to Indonesia we included the timeframe for depositing Malaysian Ringgit to a money transfer account and average transfer times to Indonesia.
When sending money to Indonesia from Malaysia quickly is a priority, Wise is our recommended choice.
Send large sums of money
Wise offers the strongest all round option for large transfers of the 8 money transfer companies compared.
Whether for business or a property purchase, sending large amounts of money can be expensive if you get a bad exchange rate from Rupiah to Rupiah.
As such, opt for Wise for sending large sums of money to Indonesia from Malaysia.
Understanding the cost of transferring money to Indonesia from Malaysia
Fees and exchange rates make up the total cost of sending money from Indonesia to Indonesia. Finding a company that can offer both ensures a good deal on your transfer.
The Mid-Market and Exchange Rates: The current MYR-IDR mid-market rate is 3,630.8171 IDR per Malaysian Ringgit. You will get more Rupiah for your Malaysian Ringgits if you find a provider close to this number.
For context, over the last three months the MYR-IDR mid-market rate has had a high of 3,679.529, a low of 3,452.4528 and averaged 3,567.833 IDR per Malaysian Ringgit.
Across the 8 companies compared, the best exchange rate is with Wise.
Unless fees are unusually high, the exchange rate you receive on converting MYR to IDR will be the biggest determining factor when working out the cost of transferring Malaysian Ringgits to Indonesia.
Fees: Transfer fees are charged as part of the transfer. Instarem at an average of 8.78 MYR per transfer over the last 6 months, offers the lowest fees overall. We’d always recommend comparing providers for your exact send amount as fees may change.
Amount Received: Money transfer companies will show you the amount of Rupiah eventually received in Indonesia. You can assume that a lower cost of sending from Malaysia will result in more money received in Indonesia.
Getting the best exchange rate for Malaysian Ringgit to Rupiah
Tracking the mid-market rate can make a huge difference when sending money MYR to IDR. The exchange rate you secure impacts how much IDR you get for your MYR.
Here's some data on recent trends in the mid-market rate.
Over the past six months, the interbank rate from MYR to IDR has seen some fluctuation. On average, it has been 3,567.833.
During this period, the highest value level was 3,679.529, with a low of 3,452.4528.
Wise, which is our recommended service to send money online from Malaysia to Indonesia offers an exchange rate that is only 0.1% above the mid-market rate.
Want to secure the best MYR-Rupiah exchange rates?
Sign up for our rate alerts and we'll tell you when it's the best time to move your money from Malaysia to Indonesia!
Funding your Malaysia to Indonesia transfer
Bank transfers
The default option for sending money from Malaysia to Indonesia is often a bank transfer.
Using a money transfer company, such as Instarem for transfers from Malaysia to Indonesia, allows for sending via a bank transfer while benefitting from lower fees and more favorable exchange rates.
From the 8 we tested, the cheapest provider for bank transfers from MYR to Indonesia is Instarem.
With an average fee of MYR8.78 to send money from Malaysia to Indonesia, Instarem offers a great combination of competitive exchange rates and lower fees.
Prepaid and debit cards
Sending money from Malaysia to Indonesia with a prepaid or debit card is easy with .
is a leader in accepting card payments for transfers between Malaysia and Indonesia.
Credit cards
is the best money transfer company of the 8 compared for credit card transfers from Malaysia to Indonesia
Fee alert: using a credit card to transfer money can mean a fee being charged by your card issuer. We recommend bank transfer or debit card instead.
How we analyze the market
We track the cost, speed, and product offerings of the leading money transfer services available between Indonesia and Malaysia.
Our comparison engine and algorithms evaluate providers based on over 25 factors, including transfer fees, ease of use, exchange rates, mobile apps, transfer times & customer support.
We also consider how these services are rated on platforms like TrustPilot, AppStore, and Google Play, giving you a comprehensive view of what to expect.
This thorough analysis helps you get the best available deal - every time you want to move money from Malaysia to Indonesia.
We also provide unbiased and detailed reviews of all the top money transfer companies. You can use these reviews to send MYR to IDR.
For a deeper understanding of our commitment to integrity and transparency, we invite you to read our editorial policy document.
Money transfer company reviews
