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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."
Overall top choice: Wise
Of the 7 money transfer providers we tested and reviewed, Wise was a standout option for its combination of speed and cost.
Over the last six months, Wise appeared in 95.2% of searches for transfers between Malaysia and Spain.
When sending money from Malaysia to Spain, using Wise in a great option.
How to to send from Malaysia to Spain in the best way
- Always compare rates
Money transfers to Spain should be easy. Use our live comparison tool to make sure you aren't missing the best rates to send money from Malaysia to Spain.
- 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 Spain.
Summary of recent searches
Considerations to make sending money from Malaysia to Spain easy
Comparing the different providers offering services between Malaysia and Spain, is the best way to send money with confidence.
The 7 providers we've compared ensures you will get the best options for your transfer to Spain from Malaysia. By taking the time to compare you can save yourself in the region of 3% of the total transfer amount.
Whilst we rate Wise as the best overall, comparing gives you a comprehensive view of all the options for transferring Malaysian Ringgit to Spain.
Cheapest way to send money to Spain from Malaysia: Instarem
The cost is a combination of an average fee of 32.16* MYR and an exchange rate for converting Malaysian Ringgit to Euro that is 0.2% different to the mid-market rate.
On average, Instarem is 0% cheaper than the second-best option.
We would recommend Instarem for low cost, affordable transfers from Euros to Spain.
*The most common fee applied to MYR-EUR by Instarem, based on data from the past six months.
Fastest way to transfer money to Spain from Malaysia: Wise.
Wise was the quickest way to send Malaysian Ringgit to Euro in 58.8% of searches. For fast transfers between MYR and EUR, Wise comes highly recommended.
When using Wise to send money from Malaysia to Spain you can expect an average fee of 35.46 MYR. Although we would recommend comparing the amount you want to send.
When testing the 'fastest' options we compared 7 money transfer providers. To test overall speed of sending money from Malaysia to Spain we included the timeframe for depositing Malaysian Ringgit to a money transfer account and average transfer times to Spain.
When sending money to Spain from Malaysia quickly is a priority, Wise is our recommended choice.
Transfer a large amount of money
Wise is the strongest option for large transfers of the 7 money transfer companies tested.
Whatever the reason is for the transfer, sending large amounts of money from Malaysia to Spain can become expensive through your bank or with the wrong provider.
Our data shows Wise as the best choice for sending large sums of money to Spain from Malaysia.
Understanding the cost of transferring money to Spain from Malaysia
Fees and exchange rates make up the total cost of sending money from Spain to Spain. Finding a company that can offer both ensures a good deal on your transfer.
The Mid-Market and Exchange Rates: The current MYR-EUR mid-market rate is 0.2138 EUR per Malaysian Ringgit. You will get more Euro for your Malaysian Ringgits if you find a provider close to this number.
For context, over the last three months the MYR-EUR mid-market rate has had a high of 0.2172, a low of 0.1961 and averaged 0.2064 EUR per Malaysian Ringgit.
Across the 7 companies compared, the best exchange rate is with Wise.
Unless fees are unusually high, the exchange rate you receive on converting MYR to EUR will be the biggest determining factor when working out the cost of transferring Malaysian Ringgits to Spain.
Fees: Transfer fees are charged as part of the transfer. Instarem at an average of 32.16 MYR 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 Euro eventually received in Spain. You can assume that a lower cost of sending from Malaysia will result in more money received in Spain.
Getting the best exchange rate for Malaysian Ringgit to Euro
Tracking the mid-market rate can make a huge difference when sending money MYR to EUR. The exchange rate you secure impacts how much EUR 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 EUR has seen some fluctuation. On average, it has been 0.2064.
During this period, the highest value level was 0.2172, with a low of 0.1961.
Wise, which is our recommended service to send money online from Malaysia to Spain offers an exchange rate that is only -0.04% above the mid-market rate.
Want to secure the best MYR-Euro 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 Spain!
Payment methods for Malaysia to Spain transfers
Bank transfers
Bank transfers are often the fastest option, and normally the cheapest, for sending money from Malaysia to Spain.
By opting for a money transfer company such as Instarem for transfers from Malaysia to Spain, 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 7 we tested when sending MYR to Spain.
With an average fee of MYR35.71 to send money from Malaysia to Spain, Instarem offers a great combination of competitive exchange rates and lower fees.
Debit and prepaid card payments
Using a debit card, or prepaid option, for sending money from Malaysia to Spain is easy with Instarem.
Instarem is a market leader in debit card payments for transfers from Malaysia to Spain, this is among a total of 7 money transfer companies compared.
Credit card transfers
When it comes to sending money with a credit card from Malaysia to Spain, Instarem emerges as our top choice of the 7 companies offering this service.
Fee alert: credit card money transfers often result in a cash advance fee being charged by your card issuer. We recommend bank transfer or debit card where possible.
How we analyze the market
We track the cost, speed, and product offerings of the leading money transfer services available between Spain 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 Spain.
We also provide unbiased and detailed reviews of all the top money transfer companies. You can use these reviews to send MYR to EUR.
For a deeper understanding of our commitment to integrity and transparency, we invite you to read our editorial policy document.
Money transfer company reviews
