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Overall best choice: Wise
We tested & reviewed dozens of money transfer providers, and Wise scored highly.
Wise appeared in 63.3% of Malaysia to Singapore searches, and was the top rated company out of 3 that support MYR to SGD.
So for a great mix of cost, speed & features, make your Malaysia to Singapore transfer using Wise.
How to get the best deal on your Malaysia to Singapore transfer
Important things to consider before sending money from Malaysia to Singapore
Don't settle for the first option. Always compare ways to send money from Malaysia to Singapore to find out about fees, speed, and reliability.
Our analysis included 3 providers that operate between Malaysia and Singapore.
Through this, you get a comprehensive view of all the options you have in Malaysia when you need to send money to Singapore.
Cheapest way to send money to Singapore from Malaysia: Instarem
Data collected over the past six months shows that Instarem is 0% cheaper than the second-best option.
The RM1202.16 transfer cost represents the most common fee for MYR to SGD international transfers, based on data from the past six months.
If you want to secure the best rates on a MYR to Singapore transfer, make sure you pick Instarem to send your money online.
*The most common fee applied to MYR-SGD by Instarem, based on data from the past six months.
Fastest way to send money from Malaysia to Singapore: Wise
Our data shows that Wise came up as the fastest way to send money from Malaysia to Singapore in 57.9% of searches. This makes them well suited to urgent MYR to SGD money transfers.
The 'fastest' way to send money is defined by the overall speed of sending money from Malaysia to Singapore - this includes deposit, transfer and withdrawal timeframes and often differs per currency.
When speed matters, Wise is your best choice at the moment. This service emerged as the quickest way to send money to Singapore from Malaysia in 57.9% of the searches on MoneyTransfers.com over the past six months.
Need to send over $10,000?
Opt for a service proven with large transfers when size matters. For transfers over $10,000, your best bet is Wise.
While Wise may not always be the cheapest or fastest way to send MYR from Malaysia to Singapore, it’s the provider that will keep you safe and relaxed while your money moves into SGD.
Understanding the costs involved when moving money from Malaysia to Singapore
When calculating the costs of money transfers between Malaysia and Singapore, here's what really matters:
The Mid-Market Rate: Today, the MYR-SGD mid-market rate equals to 0.284855 SGD per Malaysian Ringgit.
The MYR-SGD average exchange rate for the past three months has been 0.2857 SGD per Malaysian Ringgit, with a high of 0.2922 and a low of 0.2803.
When looking to send money, we'd recommend Wise. On average Wise is -0.04% away from the average mid-market rate. Fees may be added on top, but they're still the cheapest provider on average from MYR to SGD.
How to find the best exchange rate for Malaysian Ringgit to Singapore Dollar
Timing is essential for sending money between MYR and SGD. The exchange rate you secure impacts how much SGD you get for your MYR.
Let's dive into some interesting recent trends.
Over the past six months, the exchange rate from MYR to SGD has seen some fluctuation. On average, it stood at 0.2857.
During this period, the highest value recorded was 0.2922, while the lowest was 0.2803.
Wise, which is our recommended service to send money online from Malaysia to Singapore offers an exchange rate that is only -0.04% above the mid-market rate.
Want to secure the best MYR-Singapore Dollar 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 Singapore!
Payment methods available to fund your Malaysia to Singapore transfer
Bank transfers
Bank transfers are often the default option for sending money from Malaysia to Singapore.
By using a money transfer company such as Instarem for transfers from Malaysia to Singapore, you can send money via a bank transfer while benefitting from lower fees and more favorable exchange rates.
On average, Instarem is the cheapest provider for bank transfers from the 3 we tested when sending MYR to Singapore.
With an average fee of MYR1070.43 to send money from Malaysia to Singapore, Instarem offers a great combination of competitive exchange rates and lower fees.
Debit and prepaid cards
Sending money from Malaysia to Singapore with a debit or a prepaid card is very simple with Wise.
Wise is a leader in debit card payments for transfers from Malaysia to Singapore, competing among a total of 3 active money transfer companies on this route.
Credit cards
When it comes to credit card transfers from Malaysia to Singapore, Wise emerges as our top choice of the 3 companies offering this service.
Fee alert: using a credit card to transfer money 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 Singapore and Malaysia.
Our comparison engine and algorithms evaluate providers based on over 25 factors.
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 Singapore.
We also provide unbiased and detailed reviews of all the top money transfer companies. You can use these reviews to send MYR to SGD.
For a deeper understanding of our commitment to integrity and transparency, we invite you to read our editorial policy document.
Money transfer company reviews
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