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Send money from India 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."
"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."
"Western Union agents help you send money from a wide variety of countries. Find a local branch near you to deposit cash and send your funds abroad."
"With MoneyGram you can send money globally. Find a local MoneyGram branch near you to deposit and send cash abroad."
"If you and the person you are sending money to both have PayPal apps, you can quickly and easily send money between each other."
"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."
Best recommended: Wise
Of the 5 money transfer providers tested and reviewed, Wise scored highly for its competitive rates and fees.
For example, sending 22,100 INR to MYR will cost you ₹634.23 in fees, and you will receive 1,003.75 MYR.
Make your India to Malaysia transfer using Wise for the best mix of cost and speed.
How to get the best deal on sending money from India to Malaysia
Always compare rates
Don't pay more than you have to. Use our live comparison tool to make sure you aren't missing the best rates to send money from India to Malaysia.
Choose a provider
Select the provider that offers you the best value on buying MYR & service for your needs.
Click, sign up & send
Follow the steps & make your transfer. Your funds will soon be on their way to your chosen country & currency.
Summary of recent searches
Considerations for money transfers from India to Malaysia
Compare providers
Comparing providers offering services between India and Malaysia, based on your specific needs is the best way to send money with confidence.
Our comparison includes 5 companies that provide the ability to send Indian Rupee to Malaysia.
This ensures you get the best options for transfers to Malaysia from India, based on the amount you want to send.
Watch the Indian Rupee-Malaysian Ringgit exchange rate
Choose the right payment method
Use providers regulated in Malaysia and India
Consider transfer limits
Receiving money in Malaysia
Have your ID ready
Tax declarations
The fastest way to send money to Malaysia from India is by sending cash
Cash transfers are almost instant in most cases.
However, in some cases, it can take a few days to process, depending on your branch, how much you are sending, and the deposit method you use.
Considering there aren’t many INR/MYR transfer options available, this is by far the fastest way to do it.
The cheapest way to to send money to Malaysia from India is via PayPal P2P Transfer
The coverage of INR/MYR transfer options is very limited, therefore, PayPal’s P2P transfer service is one of the cheaper options you have, along with cash transfer via Western Union and MoneyGram.
With PayPals P2P transfer, the main cost is the conversion between currencies, which can go as high as % on top of the mid market rate, as well as a INR transfer fee.
You can also opt to use a cash transfer via MoneyGram or Western Union, which are cheaper in some cases (depending on the amount, deposit method, and your branch).
Send large sums of money
From the 5 options we compared, Wise offers the strongest all round option for large transfers to Malaysia from India.
Whatever the reason, sending large sums of money can be expensive if you get a bad exchange rate from Malaysian Ringgits to Malaysian Ringgit.
As such, we recommend Wise for large transfers between Malaysia and India.
Understanding the cost of transferring money to Malaysia from India
Fees and exchange rates make up the total cost of sending money from Malaysia to Malaysia. Finding a company that can offer both ensures a good deal on your transfer.
The Mid-Market and Exchange Rates: The current INR-MYR mid-market rate is 0.0465 MYR per Indian Rupee. You will get more Malaysian Ringgit for your Indian Rupees if you find a provider close to this number.
For context, over the last 7 days the INR-MYR mid-market rate has had a high of 0.0471, a low of 0.0466 and averaged 0.0468 MYR per Indian Rupee.
Across the 5 companies compared, the best exchange rate is with Wise.
Unless fees are unusually high, the exchange rate you receive on converting INR to MYR will be the biggest determining factor when working out the cost of transferring Indian Rupees to Malaysia.
Fees: Transfer fees are charged as part of the transfer. Western Union Agent charges the lowest fee of 3 INR at the moment. 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 Malaysian Ringgit eventually received in Malaysia. You can assume that a lower cost of sending from India will result in more money received in Malaysia.
Getting the best exchange rate for Indian Rupee to Malaysian Ringgit
Tracking the mid-market rate can make a huge difference when sending money INR to MYR. The exchange rate you secure impacts how much MYR you get for your INR.
Here's some data on recent trends in the mid-market rate.
Over the past 7 days, the interbank rate from INR to MYR has seen some fluctuation. On average, it has been 0.0468.
During this period, the highest value level was 0.0471, with a low of 0.0466.
Wise, which is our recommended service to send money online from India to Malaysia offers an exchange rate that is only -0.11% above the mid-market rate.
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Payment options for transfers from India to Malaysia
Bank transfers
Bank transfers are often the fastest and cheapest way to send money from India to Malaysia.
Using a money transfer company such as Western Union Agent for payments from India to Malaysia, 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.
Western Union Agent is the best money transfer provider for bank transfers of the 5 we compared when sending INR to Malaysia.
With a fee of 3 INR to transfer money from India to Malaysia, Western Union Agent offers a great combination of competitive exchange rates and lower fees.
Prepaid and debit cards
Sending money with a debit card from India to Malaysia is easy with Western Union Agent.
Western Union Agent is a leader in debit card money transfers from India to Malaysia. They are the best option of the 5 transfer companies compared.
Credit cards
When it comes to credit card transfers from India to Malaysia, we recommend comparing your options to get the best deal.
Fee alert: using a credit card to transfer money internationally often results in a fee being charged by your card issuer. That's why 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 Malaysia and India.
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 India to Malaysia.
We also provide unbiased and detailed reviews of all the top money transfer companies. You can use these reviews to send INR to MYR.
For a deeper understanding of our commitment to integrity and transparency, we invite you to read our editorial policy and review methodology.
Money transfer company reviews
