What's the best way to transfer money from Malaysia to Singapore? 💸

We recommend using a specialist currency provider for the money transfer from Malaysia to Singapore. You will get a much better exchange rate and lower fees than at your bank. All the providers for your money transfer from Malaysia to Singapore you can compare on Monito. You will compare all the fees, hidden conversion costs, and percentage fees that money transfer services charge for your money transfers from Malaysia to Singapore.

How to send money from Malaysia to a bank in Singapore at the best rate? 🏦

If you look for a cheap, safe, and fast way to send money from Malaysia to Singapore, consider the services of online money transfer providers. All of them you can compare side-by-side on Monito and find the cheapest way to send money from Malaysia to Singapore. Here's a step-by-step guide on how to send money from Malaysia to a bank account in Singapore with a money transfer specialist: Compare money transfer services on Monito Open an account online with one of the money transfer operators of your choice Set up your transfer and provide your beneficiary bank details in Singapore Pay for your transfer in MYR by wire transfer, debit or credit card The money is on its way to Singapore 💸

Find the best ways to send money to Singapore from Malaysia

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Top Providers For transfers from Malaysia to Singapore

Based on 1,937 comparisons made by Monito users in the past 3 months.

Compare live results

Cheapest
8.4

Cheapest

in 84% of all comparisons
Fastest

in 88% of all comparisons
Go to Instarem
Top rated
9.5

Top rated

in 95% of all comparisons
Go to Wise

Best of 4 providers. Compare all

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1 MYR = SGD Mid-market exchange rate

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25M+ comparisons made

With more than 7 million searches per year, Monito's real-time comparison engine is a world leader in comparing international money transfer services.
$80M+ in transfer fees saved

By choosing a transfer service found on Monito, the average user pays a total of just 0.59% in fees and exchange rates. Compared to the 4.6% paid at a bank or traditional cash transfer service, Monito users have saved around $80 million in total to date!
200+ providers compared

For every service appearing on Monito, our experts build in-depth reviews using dozens of verifiable criteria to make clear, actionable recommendations to guide your decisions.
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Far too often, sending money abroad is both pricey and problematic. That's exactly why our team of experts works tirelessly to offer the most in-depth, up-to-date, and helpful consumer advice.

Monito's Recommendations for Sending Money from Malaysia to Singapore

Advertiser disclosure

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 Singapore:

Best Ways to Send Money from Malaysia to Singapore

The best rated: Wise (9.5/10)
The cheapest: Instarem
The fastest: Instarem

About Money Transfers from Malaysia to Singapore

Monito compares 4 providers offering international money transfer services from Malaysia to Singapore. The total cost of the cheapest available option at any given point in the past month was 0.8% of the transferred amount. In comparison, the total cost of the most expensive provider was on average 8.7%.

💸 Number of providers	4
🏆 Most often cheapest provider	Instarem
💰 Average Lowest Total Cost	0.8%
💰 Highest Total Cost	8.7%
👍 Recommended Providers	Instarem, Wise, WorldRemit
⚡ ️Fastest Transfer Time	In minutes
💳 Pay-in Options	Bank transfer, Debit card, Direct bank payment
💵 Pay-out Options	Bank account, Bank account (via international transfer)
💸 Most transferred amount	10000 MYR

How to Transfer Money From Malaysia to Singapore

If you're sending money from Malaysia to Singapore, you'll have two main options. One will 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 Singapore to a Malaysian Bank Account

Using an online international money transfer service is the fastest and cheapest way to transfer money from Malaysia to Singapore. Several top online transfer platforms offer MYR to SGD transfers, including:

Wise
Skrill
WorldRemit
Instarem
PayPal (which we don't recommend due to its fees)
Halo Financial (an FX broker for larger transfers)

In general, money transfer services are the best way to send money abroad because they're the cheapest and usually the fastest and easiest to use options out there. Find out more about money transfer services here.

2 — Bank Transfers From Malaysia to Singapore

Using your bank — whether it be Maybank, CIMB, UOB, or any other — is a reliable option for sending money from your bank account to a bank account in Singapore. However, it's costly, 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.

Sending money from Malaysia to Singapore with Maybank, for example, can be around 10% more expensive than making the same transfer with a top money transfer service online. For this reason, we generally don't recommend banks to get the job done. Learn more about why online platforms are better than banks for international transfers.

3 — Send Money to Singapore via a Mobile Wallet

When sending money to Singapore, you can also use an online transfer platform to send money to many of the most popular mobile wallet apps. For this purpose, we particularly recommend WorldRemit. The online money transfer platform will allow you to send MYR to a mobile money SGD account:

8.3

Go to WorldRemit

4 — Google Pay Malaysia to Singapore

Many people wonder whether or not they can use Google Pay to send money from Malaysia to Singapore. 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 Singapore From Malaysia

Would you describe yourself as tech-savvy? Then you'll find online money transfers convenient. The good news is that you could get more Singaporean dollars 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 more accessible! 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-SGD 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 Singapore.

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

The Cheapest Way to Send Money From Malaysia to Singapore

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 including 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 Singapore: 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 Singapore. 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 Singapore 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 Singapore.

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.

FAQ About Money Transfers to Singapore From Malaysia

What's the best way to transfer money from Malaysia to Singapore? 💸

We recommend using a specialist currency provider for the money transfer from Malaysia to Singapore. You will get a much better exchange rate and lower fees than at your bank. All the providers for your money transfer from Malaysia to Singapore you can compare on Monito. You will compare all the fees, hidden conversion costs, and percentage fees that money transfer services charge for your money transfers from Malaysia to Singapore.
What's the cheapest way to send money from Malaysia to Singapore? 💱

The cheapest way to send money from Malaysia to Singapore depends on the amount of the transfer, payment method, and pick-up option. 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. Use Monito's comparison widget - just say where you want to send money to and how much and we'll give you a ranking of all the money transfer services from the cheapest to the most expensive.
How to send money from Malaysia to a bank in Singapore at the best rate? 🏦
If you look for a cheap, safe, and fast way to send money from Malaysia to Singapore, consider the services of online money transfer providers. All of them you can compare side-by-side on Monito and find the cheapest way to send money from Malaysia to Singapore. Here's a step-by-step guide on how to send money from Malaysia to a bank account in Singapore with a money transfer specialist:
1. Compare money transfer services on Monito
2. Open an account online with one of the money transfer operators of your choice
3. Set up your transfer and provide your beneficiary bank details in Singapore
4. Pay for your transfer in MYR by wire transfer, debit or credit card
5. The money is on its way to Singapore 💸

Best-Rated Providers to Send Money from Malaysia to Singapore

9.5

Go to Wise

8.4

Read the full review

8.3

Read the full review

See Monito's In-Depth Money Transfer Guides

Best Ways To Send Money Internationally

March 27, 2024 - by François Briod

Fastest Ways To Send Abroad

November 22, 2022 - by François Briod

Transfer Specialists vs Banks

November 22, 2022 - by Byron Mühlberg

Best Money Transfer Services

October 11, 2023 - by François Briod

Everyone wins, except expensive solutions

With our model, the only losers are the expensive banks or providers you’ll stop using!

To ensure our independence, we always use transparent, objective and verifiable criteria in our comparison. No provider can buy their way to the top of our results.

We include as many providers as possible in our comparison and have partnerships with almost all major and innovative providers.

We make sure you never pay more than if you went directly to the provider of your choice. We even negotiate special offers for you with many of our partners.

You save money on your transfer by selecting the cheapest provider.
The best providers earn new customers without expensive marketing, helping keep their costs (and prices) low.
Monito receives a referral fee from the provider you selected. This enables us to offer our service to you for free.

Questions you may have

How can I use Monito to find the best option to send money to Singapore?

Before each international money transfer, you should come and compare the costs of the different options on Monito, as they may have changed. The cheapest option is at the top, of our results but you may want to consider other criteria such as the speed of transaction or the pay-in or pay-out methods.
I simply use my bank to send money to Singapore, do I really need to compare other options?

Of course! Banks are usually not the best way to make international money transfers. The fees can be quite low (and sometimes even zero), but beware of the poor exchange rates which banks often apply. We list as many banks as possible in our results, so do compare to find out if you’d be better off switching to another bank or a specialized money transfer company.
Can I trust a company I found on Monito but never heard about before?

Yes. We only list money transfer operators or banks that are fully authorized and monitored by the regulation authorities of the countries where they operate.
Is it possible to send money with Monito, or are you just a service to compare money transfer services?

Monito is not a money transfer company. We’re here to help you find the best way to send money to Singapore.

Why Trust Monito?

You’re probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, co-founders François, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services across the globe.

Today, Monito’s award-winning comparisons, reviews, and guides are trusted by around 8 million people each year and our recommendations are backed by millions of pricing data points and dozens of expert tests — all allowing you to make the savviest decisions with confidence.

Learn more about Monito

Monito is Trusted by 15+ Millions Users across the globe.
Monito's experts spend hours researching and testing services
Affiliate commissions we may receive never impact our independence

Mid-market exchange rate

To calculate the total cost of your transfer, we compare the exchange rate every provider applies to your transactions with the latest mid-market exchange rate data that we source from XE.