Whether you are sending MYR to the United States for personal or business reasons, millions of international remittances are sent to the United States every year. With an estimated population of 331 million people and the world’s highest GDP, it is safe to say the United States is a global superpower. As the number of money transfer specialists providing services from Malaysia to United States continues to rise, it has never been easier to send money to the US safely and securely.
When considering how to send money United States from Malaysia 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 Malaysia to United States. The fastest provider is WorldRemit. The cheapest transfer provider we found is TransferWise at % Above Mid-Market Rate.
If you’re looking for the best combination of price, speed, and reliability we recommend using WorldRemit when sending MYR – USD.
This means that by using WorldRemit for online money transfers to United States from Malaysia, 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 WorldRemit for any reason, our comparison engine has found Instarem and TransferWise also to be very good options when sending MYR to USD.
If you are looking to make an international transfer, in some cases you might need to know the SWIFT/BIC code of your recipient in United States. If you’re unsure what it is, check out our SWIFT calculator to figure out the correct SWIFT code in United States.
The cost of transferring money will depend on the value of the transaction and amount of USD you want the recipient in United States to receive.
In order to avoid high fees, you should consider the cheapest way to send money from Malaysia to United States.
TransferWise has been determined by our comparison engine to be currently offering you the cheapest rates possible.
When sending money from Malaysia to United States, 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, WorldRemit is the fastest way to send MYR – USD.
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.
To avoid high fees you can opt to use an online money transfer provider such as WorldRemit to pay for your transfer to United States. Our guide on sending money using a credit card has more information.
With WorldRemit you can send money online to United States 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.
Bank and international wire transfers are the most common ways of sending money United States 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 WorldRemit 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 United States from Malaysia 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 WorldRemit, Instarem and TransferWise.
Before sending money to United States from Malaysia, you should consider the following:
This one’s easy. Simply use our comparison table above to find the best provider to send MYR to USD. After that it’s just a process of making your transfer via the following steps:
Your recipient has a few methods available to receive your money in United States. These will vary between providers, but it is possible to find services that will:
If your recipient is going to collect or have the money delivered to them in United States, then they will usually need the following:
The amount of USD you can receive from Malaysia 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 USD that can be received in United States or sent from Malaysia before making your transfer.