Whether you’re travelling around Japan, working abroad as a foreign teacher or living there as an expatriate of Malaysia, understanding the difference between international bank transfers and money transfers will save you a great amount of in the long run. Japanese Yen is one of the most commonly traded currencies on the market, but this does not stop Japanese banks charging for their global payment services. Whether it’s high conversion rates on exchange, to excessive transfer fees, no customer should be spending their hard-earned money on additional and unnecessary costs. Here we will show you how to send money from Malaysia to Japan, avoiding the big costs while getting the most for your money.
When considering how to send money Japan from Malaysia there are some key aspects of the transfer that will impact the best provider for your needs.
There are plenty of international money transfer providers for Malaysia to Japan. The fastest provider is VertoFX . The cheapest provider we found is TransferWise at 1.0E-5% Above Mid-Market Rate.
If you’re looking for the best combination of price, speed, and reliability we recommend using Instarem when sending MYR – JPY.
This means that by using Instarem for online money transfers to Japan from Malaysia, you are likely to save on transfer fees and benefit from fast speeds – so your recipient will get more money and have it delivered in less time.
Alternatively, if you are unable to access Instarem for any reason, our comparison engine has found TransferWise and VertoFX also to be very good options when sending MYR to JPY.
If you are looking to make an international transfer, in some cases you might need to know the SWIFT/BIC code of your recipient in Japan. If you’re unsure what it is, check out our SWIFT calculator to figure out the correct SWIFT code in Japan.
The cost of transferring money will depend on the value of the transaction and amount of JPY you want the recipient in Japan to receive.
In order to avoid high fees, you should consider the cheapest way to send money from Malaysia to Japan.
TransferWise has been determined by our comparison engine to be currently offering you the cheapest rates possible.
When sending money from Malaysia to Japan, speed is one of the biggest factors you need to consider in terms of the service offered by different money transfer providers, particularly if you want to send money instantly. Currently, VertoFX is the fastest way to send MYR – JPY.
Most money transfer providers allow you to deposit and send money using various payment methods, but not all providers offer every option. Typically you’ll find the most common methods are bank transfers and card payments, but many providers also accept cash and some will even deliver funds straight to your recipient’s door.
To avoid high fees you can opt to use an online money transfer provider such as TransferWise to pay for your transfer to Japan. Our guide on sending money using a credit card has more information.
With Instarem you can send money online to Japan using your debit card. But before making a payment, make sure you understand all the processing fees in place. Our guide on sending money using a debit card has more information.
Bank and international wire transfers are the most common ways of sending money Japan as they are secure, reliable, and convenient. However, they often come with the slowest delivery times in case speed is an important factor for you. You can use Instarem to send money using a bank or wire transfer at a great rate as long as you’re happy for your transfer to take 1-2 days.
When sending money to Japan from Malaysia using bank account transfer you are paying for the outgoing fees, flat fees, currency exchange rate markup, and sometimes an additional incoming transfer fee. If you do decide to make an international transfer using wire transfer, you might be required to use a SWIFT/BIC code when completing your transaction. If you’re unsure of what it is, check out our guide on what is a SWIFT code as well as use our SWIFT code calculator to find the right SWIFT/BIC code.
On the other hand, you usually only pay a sender fee and a small exchange rate markup when using online money transfer services such as Instarem, TransferWise and VertoFX .
Before sending money to Japan from Malaysia, you should consider the following:
This one’s easy. Simply use our comparison table above to find the best provider to send MYR to JPY. After that it’s just a process of making your transfer via the following steps:
Your recipient has a few methods available to receive your money in Japan. These will vary between providers, but it is possible to find services that will:
If your recipient is going to collect or have the money delivered to them in Japan, then they will usually need the following:
The amount of JPY you can receive from Malaysia will largely depend on the money transfer service you are using. There are providers that specialise in smaller remittance payments, and providers who specialise in larger transfers.
You should also check if there are any government regulations pertaining to the amount of JPY that can be received in Japan or sent from Malaysia before making your transfer.