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Best option: Wise
We tested & reviewed 8 money transfer providers, and Wise scored highly in each category.
Over the last six months, Wise appeared in 94.7% of Malaysia to Philippines searches, and was the top rated company supporting money transfers between MYR and PHP.
For a great mix of cost, speed & features, transfer from Malaysia to Philippine Peso using Wise.
How to to send from Malaysia to Philippines in the best way
- Always compare rates
Money transfers to Philippines should be easy. Use our live comparison tool to make sure you aren't missing the best rates to send money from Malaysia to the Philippines.
- Choose a provider
Select the provider that offers you the best value on your Malaysian Ringgit & service for your needs.
- Click, sign up & send
Follow the steps & start your transfer. Your funds will soon be on their way to the Philippines.
Summary of recent searches
Understanding Malaysia to Philippines money transfers
Comparing providers when sending money from Malaysia to the Philippines is the easiest way to make a transfer at the best price.
We’ve compared 8 providers for sending Malaysian Ringgit to Philippines. This ensures you will get the best options for your transfer to the Philippines from Malaysia.
We rate Wise as the best overall, but comparing gives you a comprehensive view of all the options for transferring money from Malaysia to the Philippines.
Cheapest way to transfer money to the Philippines from Malaysia: Instarem
Data collected over the past six months shows that Instarem is 0% cheaper than the second-best option.
Instarem offers this through a combination of an average 26.04* MYR fee per transfer and exchange rate between MYR-PHP that is 0% different to the mid-market rate
If you want the cheapest way to send Malaysian Ringgit to the Philippines, Instarem is our recommended choice.
*The most common fee applied to MYR-PHP by Instarem, based on data from the past six months.
Fastest way to transfer money to the Philippines from Malaysia: Wise.
Wise was the quickest way to send Malaysian Ringgit to Philippine Peso in 62.7% of searches. For fast transfers between MYR and PHP, Wise comes highly recommended.
When using Wise to send money from Malaysia to the Philippines you can expect an average fee of 24.78 MYR. Although we would recommend comparing the amount you want to send.
When testing the 'fastest' options we compared 8 money transfer providers. To test overall speed of sending money from Malaysia to the Philippines we included the timeframe for depositing Malaysian Ringgit to a money transfer account and average transfer times to the Philippines.
When sending money to Philippines from Malaysia quickly is a priority, Wise is our recommended choice.
Transfer a large sum of money
From 8 money transfer companies compared, Wise is the best option for large transfers from Malaysia to the Philippines.
Whether it’s for property purchases, business or any other reason, sending large amounts of money from Malaysia to the Philippines can become expensive if you use a bank, or the wrong provider.
Wise is the top choice for sending large sums of money to the Philippines from Malaysia because they offer a strong service and competitive exchange rates.
Understanding the cost of moving money from Malaysia to Philippines
The total cost of sending money to the Philippines from Malaysia, is made-up of a combination of fees and exchange rates. Sending with a company that can offer a good deal on both ensures a good deal on your transfer.
The Mid-Market and Exchange Rates: Currently, the mid-market for MYR-PHP is 13.302 PHP per Malaysian Ringgit.
Finding a company offering an exchange rate closer to this will mean more Philippine Peso for your Malaysian Ringgit.
The average MYR-PHP mid-market rate for the last three months has been 12.5398 PHP per Malaysian Ringgit. This includes a high of 13.391, and low of 12.0936.
Out of the 8 companies compared, Wise offers the best exchange rates.
The exchange rate you receive on converting MYR to PHP should be the biggest determining cost factor when transferring Malaysian Ringgit to the Philippines.
Fees: Transfer fees may have to be paid alongside the transfer, either as a set fee or a percentage of the transfer. Instarem, with a fee average of 26.04 MYR per transfer over the last 6 months, offers the lowest fees overall. Although, you should search for your send amount for actual fees.
Amount Received: Money transfer companies will show you the amount of Philippine Peso eventually received in the Philippines.
A lower cost of sending from Malaysia will result in more money received in the Philippines.
Getting the best exchange rate for Malaysian Ringgit to Philippine Peso
Tracking the mid-market rate can make a huge difference when sending money MYR to PHP. The exchange rate you secure impacts how much PHP you get for your MYR.
Here's some data on recent trends in the mid-market rate.
Over the past six months, the interbank rate from MYR to PHP has seen some fluctuation. On average, it has been 12.5398.
During this period, the highest value level was 13.391, with a low of 12.0936.
Wise, which is our recommended service to send money online from Malaysia to Philippines offers an exchange rate that is only 0% above the mid-market rate.
Want to secure the best MYR-Philippine Peso exchange rates?
Sign up for our rate alerts and we'll tell you when it's the best time to move your money from Malaysia to Philippines!
Payment options for transfers from Malaysia to Philippines
Bank transfers
Bank transfers are often the fastest and cheapest way to send money from Malaysia to the Philippines.
Using a money transfer company such as Instarem for payments from Malaysia to the Philippines, 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 8 we compared when sending MYR to the Philippines.
With an average fee of 26.04 MYR to transfer money from Malaysia to the Philippines, Instarem offers a great combination of competitive exchange rates and lower fees.
Prepaid and debit cards
Sending money with a debit card from Malaysia to the Philippines is easy with .
is a leader in debit card money transfers from Malaysia to the Philippines. They are the best option of the 8 transfer companies compared.
Credit cards
When it comes to credit card transfers from Malaysia to the Philippines, is the top choice of the 8 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 Philippines and 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 from Malaysia to Philippines.
We also provide unbiased and detailed reviews of all the top money transfer companies. You can use these reviews to send MYR to PHP.
For a deeper understanding of our commitment to integrity and transparency, we invite you to read our editorial policy document.
Money transfer company reviews
