Today's cheapest money transfer service might not be the cheapest tomorrow. Find the one that's best-suited to your needs and preference by comparing the best performers on Monito's comparison engine over the past 30 days for transfers from Malaysia to Indonesia:

How to Transfer Money From Malaysia to Indonesia

If you're sending money from Malaysia to Indonesia, you'll have two main options. One will be to go through your bank (which we don't recommend because of the high fees). Another option will be to use an international money transfer service.

1 — How to Transfer Money From Malaysia to Indonesia Online

Using an online international money transfer service is the fastest and cheapest way to transfer money from Malaysia to Indonesia. There are several top online transfer platforms that offer MYR to IND transfers, including:

• Wise
• Skrill
• WorldRemit 
• Instarem
• PayPal (which we don't recommend due to its fees)

In general, money transfer services are the best way to send money abroad not only because they're the cheapest, but also because they're usually the fastest and easiest to use options out there. Find out more about money transfer services here.

2 — Bank Transfers From Malaysia to Indonesia

Using your bank — whether it be Maybank, CIMB, UOB, or any other — is indeed a reliable option for sending money from your bank account to a bank account in Indonesia. However, it's very expensive and transfers usually take a long time to arrive (between two and five business days). This is because bank transfers go over SWIFT, which involves many steps along the way.

In fact, sending money from Malaysia to Indonesia with Maybank, for example, can be around 10% more expensive than making the same transfer with a top money transfer service online. It's for this reason that we generally don't recommend banks to get the job done. Learn more about why online platforms are better than banks for international transfers in our in-depth guide.

3 — Send Money to Indonesia via a Mobile Wallet

When sending money to Indonesia, you can also use an online transfer platform to send money to many of the most popular mobile wallet apps. These include sending money to GoPay, Ovo, LinkAja, and DANA.

For this purpose, we particularly recommend WorldRemit. The online money transfer platform will allow you to send MYR to a mobile money IND account, whether it's with GoPay, Ovo, LinkAja, or DANA:

4 — Google Pay Malaysia to Indonesia

A lot of people wonder whether or not they can use Google Pay to send money from Malaysia to Indonesia. Unfortunately, it's not yet possible to send money this way at this time, as Google Pay only supports international money transfers from the US.

Online Money Transfers to Indonesia From Malaysia

Would you describe yourself as tech-savvy? Then you'll find online money transfers very handy. The good news is that you could get more Indonesian rupiah for your ringgits by switching to one of the online money transfer providers, for example, Wise, Skrill, Instarem, or WorldRemit to name a few.

In the 21st century, an online money transfer is the equivalent of wiring money — only it's much cheaper and easier! With online money providers, you can send money via your mobile phone, laptop, or tablet with just a few clicks. There's no need to go to a bank or money transfer physical location. They offer much better MYR-IND exchange rates than banks and low and transparent fees. Compare your options in the list above to find the fastest, best rated, or cheapest option to send money to Indonesia. 

Make sure to compare all providers before every transfer from Malaysia to Indonesia to get the best MYR-IND exchange rate every time.

The Cheapest Way to Send Money From Malaysia to Indonesia

Let's start with the most expensive solutions: banks, cash-based money transfers, and mobile payments apps like Paypal are typically very expensive options when you factor in all fees (which include hidden exchange rate margin fees).

As we mentioned above, the cheapest way to transfer money internationally is to use a specialist money transfer service. They provide much more competitive rates, fees, and commissions than banks or Paypal. Their fees depend on various factors:

• Pay-in options: Credit card, bank transfer, cash payment, etc.
• Amount transferred from Malaysia to Indonesia: The cheapest operator will not necessarily be the same for a transfer of RM 500 and a transfer of RM 5,000.
• Transfer speed: Does the money have to be available instantly, or can a beneficiary wait a few days?
• Pay-out options: Will the money arrive in your beneficiary's bank account, or will they receive it in cash?

A dozen other parameters influence the price of sending money to Indonesia. You should check out Monito’s live comparison tool with dozens of services to find the cheapest or fastest one for you!

Fastest Way To Send Money to Indonesia From Malaysia

It comes as no surprise that the speed of your transfer depends on the method you choose to send your money from Malaysia to Indonesia.

Online money transfer providers are typically the fastest option. For example, Instarem offers transfers that will go to the recipient's account the same day, whereas Skrill and Wise offer transfers that arrive the next business day. 

When comparing the fastest options, always be sure to also compare the exchange rate to check you’re not getting a poor deal. More information about the fastest way to send money abroad can be found in our guide.