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Best recommended: Wise
Of the 7 money transfer providers tested and reviewed, Wise scored highly for its competitive rates and fees.
Wise appeared in 83.2% of India to Malaysia searches, and was the top rated company supporting INR to MYR transfers.
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
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 7 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.
Cheapest way to transfer money from India to Malaysia: Ria Money Transfer
Our data shows Ria Money Transfer is 0% cheaper than the second-best option. The company offers an average fee of 4* INR and an average exchange rate between INR and MYR that is 2.8% different to the mid-market rate.
For a cheap way to send INR to Malaysia, Ria Money Transfer is a great all round choice.
*The most common fee applied to INR-MYR by Ria Money Transfer, based on data from the past six months.
Fastest money transfers from India to Malaysia: Wise.
Through our comparison, we found Wise to be the fastest option to transfer money from India to Malaysian Ringgit in 48.7% of instances.
Over the last six months, sending money from India to Malaysia through Wise have an average fee of 2,115.12 INR.
Wise was one of 7 money transfer providers we compared for overall speed of sending money from India to Malaysia. This speed test included depositing Indian Rupees to an account and the average timeframe for sending money to Malaysia.
When fast transfers are a priority, Wise is our best choice for sending from India to Malaysia.
Send large sums of money
From the 7 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 {countryFromName}}
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 0.0525 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 three months the INR-MYR mid-market rate has had a high of 0.0568, a low of 0.051 and averaged 0.0543 MYR per Indian Rupee.
Across the 7 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. Ria Money Transfer at an average of 4 INR 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 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 six months, the interbank rate from INR to MYR has seen some fluctuation. On average, it has been 0.0543.
During this period, the highest value level was 0.0568, with a low of 0.051.
Wise, which is our recommended service to send money online from India to Malaysia offers an exchange rate that is only 0% above the mid-market rate.
Want to secure the best INR-Malaysian Ringgit exchange rates?
Sign up for our rate alerts and we'll tell you when it's the best time to move your money from India to Malaysia!
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 Ria Money Transfer 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.
Ria Money Transfer is the best money transfer provider for bank transfers of the 7 we compared when sending INR to Malaysia.
With an average fee of 4 INR to transfer money from India to Malaysia, Ria Money Transfer 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 Instarem.
Instarem is a leader in debit card money transfers from India to Malaysia. They are the best option of the 7 transfer companies compared.
Credit cards
When it comes to credit card transfers from India to Malaysia, Instarem is the top choice of the 7 companies offering this service.
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 document.
Money transfer company reviews
