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"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."
"Most transfers are instant or same-day. Customers can earn rewards on every transaction."
"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."
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"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."
Best recommended: Wise
Of the 11 money transfer providers tested and reviewed, Wise scored highly for its competitive rates and fees.
Wise appeared in 93.8% of Singapore to Malaysia searches, and was the top rated company supporting SGD to MYR transfers.
Make your Singapore to Malaysia transfer using Wise for the best mix of cost and speed.
How to send money from Singapore to Malaysia
- Always compare rates
Don't pay more than you have to. Use our live comparison tool to make sure you get the best rates on converting into Malaysian Ringgit from Singapore.
- Choose a provider
Select the provider offering the best way to send to Malaysia based on your needs.
- Click, sign up & send
Follow the steps & make your transfer. Your Malaysian Ringgit will soon be on their way to Malaysia.
Summary of recent searches
Considerations for money transfers from Singapore to Malaysia
Comparing providers offering services between Singapore and Malaysia, based on your specific needs is the best way to send money with confidence.
Our comparison includes 11 companies that provide the ability to send Singapore Dollar to Malaysia.
This ensures you get the best options for transfers to Malaysia from Singapore, based on the amount you want to send.
Cheapest way to transfer money to Malaysia from Singapore: Instarem
Of the 11 providers compared, data shows that Instarem is 0.3% cheaper than the second-best option.
The is cost is made up of an average SGD-MYR exchange rate that is 0.11% different to the mid-market rate and an average fee of 49.22* SGD.
If you want to secure the best rates on a SGD to Malaysia transfer, Instarem will result in the most Malaysian Ringgit received.
*The most common fee applied to SGD-MYR by Instarem, based on data from the past six months.
Fastest money transfers from Singapore to Malaysia: Wise.
Through our comparison, we found Wise to be the fastest option to transfer money from Singapore to Malaysian Ringgit in 87.5% of instances.
Over the last six months, sending money from Singapore to Malaysia through Wise have an average fee of 22.23 SGD.
Wise was one of 11 money transfer providers we compared for overall speed of sending money from Singapore to Malaysia. This speed test included depositing Singapore Dollars 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 Singapore to Malaysia.
Send large sums of money
From the 11 options we compared, Wise offers the strongest all round option for large transfers to Malaysia from Singapore.
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 Singapore.
Understanding the cost of sending money from Singapore to Malaysia
Ensuring a strong combination of fees and exchange rates ensures the best deal on money transfers from Singapore to Malaysia.
The Mid-Market and Exchange Rates: Finding a provider as close to mid-market rate as possible will ensure more Malaysian Ringgit for your Singapore Dollar. The current SGD-MYR mid-market rate is 3.2809 MYR per Singapore Dollar.
This rate changes regularly so it can pay to track it. For comparison, the SGD-MYR mid-market rate for the past three months has averaged 3.3063 MYR per Singapore Dollar, with a low of 3.2255 and a high of 3.3623.
Wise is currently offering the best exchange rate from the 11 companies compared.
Often the SGD-MYR exchange rate you pay is the biggest cost factor when transferring Singapore Dollars to Malaysia.
Fees: Money transfer fees are charged on top the exchange rate and can be set, or a percentage of the total amount of Singapore Dollar you’re sending to Malaysia. Instarem currently has the lowest fees for transfers into MYR at an average of 49.22 SGD over the last 6 months. We always recommend searching for your exact send amount for an exact fee.
Amount Received: The amount received in Malaysian Ringgit is the biggest indicator of the total cost of sending money to Malaysia from Singapore. The bigger the amount received in Malaysia, the lower the overall cost of sending from Singapore.
Track the exchange rate for Singapore Dollar to Malaysian Ringgit
Sending money at the right time between SGD and MYR can make a huge difference to overall cost. The exchange rate impacts how much MYR you get for your SGD.
Over the last six months, the average numbers are:
The exchange rate from SGD to MYR averaged 3.3063 MYR.
The highest value recorded was 3.3623 MYR, while the lowest was 3.2255 MYR.
11 providers currently offer transfers between Singapore and Malaysia close to this rate
Want to secure the best SGD-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 Singapore to Malaysia!
Payment options for transfers from Singapore to Malaysia
Bank transfers
Bank transfers are often the fastest and cheapest way to send money from Singapore to Malaysia.
Using a money transfer company such as Instarem for payments from Singapore 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.
Instarem is the best money transfer provider for bank transfers of the 11 we compared when sending SGD to Malaysia.
With an average fee of 49.22 SGD to transfer money from Singapore to Malaysia, Instarem offers a great combination of competitive exchange rates and lower fees.
Prepaid and debit cards
Sending money with a debit card from Singapore to Malaysia is easy with Wise.
Wise is a leader in debit card money transfers from Singapore to Malaysia. They are the best option of the 11 transfer companies compared.
Credit cards
When it comes to credit card transfers from Singapore to Malaysia, is the top choice of the 11 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 Singapore.
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 Singapore to Malaysia.
We also provide unbiased and detailed reviews of all the top money transfer companies. You can use these reviews to send SGD 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
