Send money to Malaysia
"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."
"Xe has over 30 years of currency exchange experience, and is one of the most reputable names on the market. 200 countries, 100 currencies, & funds often received in seconds."
"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."
"Revolut has 50+ million customers globally. You can hold up to 36 currencies in the app and send money quickly in 70+ currencies to 160+ countries."
"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."
"Xe has over 30 years of currency exchange experience, and is one of the most reputable names on the market. 200 countries, 100 currencies, & funds often received in seconds."
"Regency's UK-based account management team has vast experience. Get support on all kinds of transfers, from overseas property transactions to business payments & more."
"Remitly focuses on sending money to friends and family in Asia, Africa and South America. Wide coverage and well-suited to regular transfers home."
"Send money to over 40 destinations online and in the mobile app."
"Paysend has transparent fees and rates, with transfer sent within seconds to your recipient's bank. They also have global 24/7 support for any enquiries, and bank-level security."
"Moneygram is a well established service with over 80 years in the sector. They support over 200 countries worldwide and have over 440,000 retail locations."
How to get the best rate when sending money to Malaysia
Overall best choice: Wise
We tested & reviewed 9 companies offering transfers to Malaysia, and Wise scored the highest.
Wise offers the best combination of transfer fees, rates, speed, and has the best overall experience for transfers to Malaysia.
At the moment, if you were to send $7,000 to MYR, it would cost you $32.79 in fees, and your recipient will get 29,220.48 MYR.

Xe: The cheapest way to send money to Malaysia
Xe charges $0 per transfer to Malaysia, with a -0.14% markup on the MYR exchange rate. This is 0.41% cheaper than the second cheapest option.
To get the most out of your transfer to Malaysia, use a bank transfer deposit to maximize the amount of MYR received.



The fastest way to send money to Malaysia: Wise
Based on a $7,000 transfer and our comparison data for MYR transfers, Wise is the quickest option for sending MYR to Malaysia.
With Wise, the transfer time to Malaysia is within minutes.
They charge $32.79 in fees and apply a 0% markup on the ‘real’ MYR rate. This is 0% cheaper than the second-best provider.
For the best balance between speed and cost, we suggest using a deposit for Malaysian Ringgit transfers.

The easiest way to send money to Malaysia: Wise
They offer transparent fees, charging $32.79 per transfer with 0% markup added to the MYR rate.
Getting started with Wise takes less than 3 minutes, making it a fast, affordable, and user-friendly choice for sending Malaysian Ringgit.

Consider this before sending money to Malaysia
Always compare your options before sending Malaysian Ringgit, as the amount of MYR received can vary based on the deposit method, the amount of MYR sent, and your home country.
Most services include fees and markups on the MYR mid-market rate.
Our comparison of 9 providers supporting Malaysia will help you find the best fit for your needs.
Sending large amounts of MYR to Malaysia
Xe consistently ranked as the top choice for large MYR transfers. They charge $0 per transfer to Malaysia and apply only a -0.14% markup on the MYR exchange rate.
Whether you’re purchasing property, paying tuition fees in MYR, planning a wedding in Malaysia, or making business payments, Xe ensures a smooth and secure process.
When sending large amounts of Malaysian Ringgit to Malaysia, consider factors like transfer limits, markup on the MYR rate, customer service, and any legal, tax, or government-imposed restrictions in Malaysia.

Understanding the costs involved when moving money to Malaysia
When calculating the cost of money transfers to Malaysia, here's what really matters: the country of origin, amount, payment method, fees, and the markup on the MYR exchange rate.
Exchange rate markup
This is a percentage added on top of the "real" MYR rate (known as the mid-market rate).
Xe, for example, offers the best exchange rate. It adds -0.14% markup to the USD-MYR exchange rate (4.1975 MYR - -0.14% per US Dollar).
Transfer fees
These are fixed and/or percentage fees added for the service when sending money to Malaysia.
Let's imagine you want to send $7,000 from the US to Malaysia.
After analyzing 9 companies supporting Malaysian Ringgit, we found Xe to offer the lowest fees ( $0 in fees and -0.14% markup).
However, exact fees vary by deposit method and the service, for example:
Bank transfers vary from $0 to $490.00000000000006
Debit cards range from $0 to $0
Credit card fees vary a lot, mainly due to cash advance fees and/or additional fees from your credit card provider.
Get the best MYR exchange rate
The exchange rate is the value of the MYR (Malaysian Ringgit) against other currencies, and since it fluctuates, it will affect how much MYR the recipient will get. Sending money when MYR reaches the highest value will result in more MYR for your recipient.
Over the past 7 days, the MYR exchange rate has:
Averaged at 4.2226 Malaysian Ringgit per USD
Reached a high of 4.238 MYR/USD
Dropped to a low of 4.194 MYR per US Dollar
You should aim to make a transfer when the rate is closer to 4.238 MYR/USD . This will give your recipient in Malaysia more Malaysian Ringgit.
Pair your transfer with Xe (who offers the best exchange rate), and you will maximize the amount of MYR received.
Get notified when it’s the best time to send MYR
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Payment methods available for money transfers to Malaysia
The way you fund your transfer to Malaysia will impact the speed, cost, and amount of MYR your recipient receives.
How we analyze the market
We track the cost, speed, and product offerings of the leading money transfer services available in 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 to Malaysia.
We also provide unbiased and detailed reviews of all the top money transfer companies. You can use these reviews to find the best service for your needs when sending money to Malaysia
For a deeper understanding of our commitment to integrity and transparency, we invite you to read our editorial policy document.

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FAQs
Find answers to the most common questions on our dedicated FAQ page.