How to send money to Malaysia
Find out how to send money to Malaysia at the lowest cost with these 4 steps
1. Check the MYR exchange rate against your sending currency
Although the evolution of the exchange rate is fluctuating, it is a good idea to keep an eye on it to maximize how much you (or your recipient) receives after the currency exchange. Monitor the evolution of the Malaysian ringgit exchange rate and validate your transfer when the mid-market rate is close to its highest level of the last few days.
2. Find the most interesting deal by comparing the available money transfer companies.
Monito lists quite a few providers offering money transfer services to Malaysia, such as TransferWise, Western Union, MoneyGram, OFX, Xendpay. Save money by comparing them all and select the best deal for your upcoming transfer.
3. Pick the best provider for you
Select the money transfer service with the overall most competitive cost, the fastest solution, most positive customer reviews, or a good combination of the three.
It is also interesting to consider the options to pay for the transfer and receive the money. Local bank transfer, debit and/or credit cards are the most common payment methods to send money to Malaysia online. In Malaysia, you often have to decide if you want the amount in MYR to be deposited on a local bank account or available for pick-up in cash at an agent location.
4. Sign up and start your transaction to Malaysia with the company of your choice
Go to the provider's website to complete the sign-up process - be aware you will often need to give an offical ID and/or a proof of adress - and configure your transfer.
Send money money to Malaysia with the current cheapest provider for your next transfer
Questions you may have about your transfers %TO_COUNTRY%
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