How to send money to Malaysia
Learn how to send money to Malaysia at the lowest cost in four easy steps
1. See if the Malaysian ringgit conversion rate is at your advantage
Although the evolution of the currency market is unpredictable, it never hurts to monitor it to optimize how many you will receive against your sending currency. Monitor the evolution of the Malaysian ringgit mid-market and transfer your money when the rate is at its highest level of the past days.
2. Compare 13 money transfer providers available to send money to Malaysia to find the best provider.
Our comparison engine lists quite a few companies to transfer money to Malaysia, such as TransferWise, Western Union, MoneyGram, OFX, Xendpay. Picking the right service from the list is a sure way to save money.
3. Pick the best option for your needs
What do you value the most? Overall cost, speed, number of customer ratings? Consider the different criteria before deciding which provider to use.
In addition, it is important to pay attention to the pay-in/out methods. You can often have money transfer companies allowing you to transfer the money directly from your bank account, other providers will also allow you to pay with your credit and debit cards. At the other end, in Malaysia, look at different options if you need the converted amount to be sent directly to the recipient's bank account or be available for cash pick-up.
4. Sign up and start your money transfer with the company you selected
Visit the provider's website to complete the sign-up process - be ready to upload a copy of your ID and/or a proof of adress - and provide the details of your transfer to Malaysia.