Transfer INR to MYR quickly and easily by comparing the latest exchange rates, and best provider fees, speed and reviews from India to Malaysia.
Best Providers for Sending Money to Malaysia from India
When considering how to send money Malaysia from India 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 India to Malaysia. The fastest provider is Instarem. The cheapest provider we found is Instarem at 0.05% Above Mid-Market Rate.
If you’re looking for the best combination of price, speed, and reliability we recommend using Instarem when sending INR - MYR.
This means that by using Instarem for online money transfers to Malaysia from India, 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 and also to be very good options when sending INR to MYR.
The cheapest way to send money from India to Malaysia
The cost of transferring money will depend on the value of the transaction and amount of MYR you want the recipient in Malaysia to receive.
In order to avoid high fees, you should consider the cheapest way to send money from India to Malaysia.
Instarem has been determined by our comparison engine to be currently offering you the cheapest rates possible.
The fastest way to send money from India to Malaysia
When sending money from India to Malaysia, 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, Instarem is the fastest way to send INR - MYR.
What payment methods are available when sending money from India to Malaysia?
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.
Sending money to Malaysia from India using credit card
To avoid high fees you can opt to use an online money transfer provider such as Instarem to pay for your transfer to Malaysia. Our guide on sending money using a credit card has more information.
Sending money to Malaysia from India using a debit card
With Instarem you can send money online to Malaysia 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.
Using a wire transfer to send money from India to Malaysia
Bank and international wire transfers are the most common ways of sending money Malaysia 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 Malaysia from India 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, and .
Considerations for a INR to MYR Currency Transfer
Before sending money to Malaysia from India, you should consider the following:
The amount you want to transfer: It is likely that the more money you send to Malaysia the more value you will get and more MYR the recipient will receive. This is because any flat fee charged ends up as a smaller percentage of your transfer amount, and also because many providers allow you to negotiate a better exchange rate margin if sending large amounts.
The INR - MYR exchange rate margin: Money transfer providers charge a small percentage on top of the mid-market exchange rates in order to generate revenue. Current mid market rate is 0.053773 and the lowest exchange rate margin is currently offered by Instarem at 0.05% above the mid market rate.
Hidden fees & charges: Before sending money to Malaysia, make sure the provider you are using doesn’t charge any hidden fees. Our reviews of the top ranked providers Instarem, undefined and undefined will give insight here.
How to send money from India to Malaysia at the best rate?
This one’s easy. Simply use our comparison table above to find the best provider to send INR to MYR. After that it’s just a process of making your transfer via the following steps:
Click “Visit Site” inside our comparison table
Register for an account if required
Input how much you are willing to send
Fund your transfer
Receive & save an email confirming your transfer
How to receive transfers from INR to MYR in Malaysia?
Your recipient has a few methods available to receive your money in Malaysia. These will vary between providers, but it is possible to find services that will:
Deposit MYR directly into a bank account
Enable the recipient to pick up cash a specific locations across Malaysia
Deliver money directly to their door
Send MYR to your recipient’s mobile wallet
If your recipient is going to collect or have the money delivered to them in Malaysia, then they will usually need the following:
A government issued I.D document
The money transfer reference number
Senders details and the amount of money sent
How much money can be transferred from India to Malaysia?
The amount of MYR you can receive from India 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 MYR that can be received in Malaysia or sent from India before making your transfer.