Transfer Money to Malaysia

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About Money Transfers to Malaysia

Perhaps you are sending money to family in Kuala Lumpur or undertaking a business placement in Johor Bahru. Whatever the reason or amount, let our currency comparison service help guide you on the options available. In less than 60 seconds, you can find a competitive online quote on MYR, tailored to your needs that will maximise the value of your money transfer to Malaysia. Our service aims to simplify your money transfer so that you know you are getting the best and cheapest rates when sending Ringgit to Malaysia (MYR).

We have helped over 600,000 people find a better deal on their money transfer so you can rest assured your money is in the safest of hands. Whether it be for overseas property, business or emigration, we will help you find the cheapest deal when sending money online to Malaysia.

Last updated: May 08, 2014 Our methodology

Quick Facts: Malaysia

Key information for sending money to Malaysia

Transfer Speed
2 working days
Local Currency
MYR
Income Tax Rate
0-26%
Avg. Property Price/m²
6,614.15 MYR
Avg. Monthly Rent (3 bed)
2,641.36 MYR
IBAN Required
No

Money Saving Tips for Malaysia

Expert advice for your international transfer

Foreigners with Malaysian property exceeding a value of MYR 10 million may be subject to approval of the Foreign Investment Committee.

You must download and submit three copies of the Social Visit Pass form, IM.12 which can be found on the Immigration Malaysia website.

If emigrating to Malaysia, you will not need a Visa but make sure that your passport has at least another 6 months before its expiry date.

Employment passes are issued to foreigners planning to work under contract for a minimum period of 2 years and earning a monthly income of MYR 3,000.

What You Need to Send Money to Malaysia

Checklist of recipient bank details required

Routing Number e.g.
Bank routing number
SWIFT/BIC Code e.g. BANKMYXX
Bank identifier for international transfers
Account Number
Recipient's bank account number
Account Holder's Name
Full name as it appears on the bank account

Popular Banks in Malaysia

Maybank CIMB Group AmBank Group Bank Islam RHB Banking Group Public Bank Bhd

"When sending money to Malaysia, always compare multiple providers. The exchange rate is important, but don't forget to factor in transfer fees and delivery times. For larger amounts, even small rate differences can translate to significant savings."

— MyCurrencyTransfer Editorial Team

Frequently Asked Questions

Common questions about sending money to Malaysia

What is the cheapest way to send money to Malaysia?

The cheapest way to send money to Malaysia depends on your transfer amount. For larger transfers (over £1,000), specialist providers like Wise or OFX typically offer better rates than banks. Compare providers above to see which offers the best deal for your specific amount.

How long does it take to transfer money to Malaysia?

Most transfers to Malaysia are completed within 1-3 working days. Some providers offer same-day or next-day delivery for an additional fee. The exact time depends on the provider, payment method, and whether the recipient's bank processes weekend transfers.

What information do I need to send money to Malaysia?

You'll typically need: the recipient's full name (as it appears on their bank account), their bank account number, the bank's SWIFT/BIC code, and for some countries an IBAN. You may also need the recipient's address and the bank's name and address.

Are money transfer services safe to use?

Yes, the providers we compare are regulated by the Financial Conduct Authority (FCA) or equivalent regulators. They must keep your money in segregated accounts and follow strict anti-money laundering procedures. Always check a provider's regulatory status before sending money.

Should I use my bank to send money to Malaysia?

Banks are generally more expensive for international transfers due to higher exchange rate margins and fees. Specialist money transfer providers typically offer rates 2-4% better than banks. Use our comparison to see how much you could save.

How to Transfer Money to Malaysia

  1. Compare providers

    Use the comparison table above to find the best exchange rate and lowest fees for your transfer amount.

  2. Create an account

    Click through to your chosen provider and register for a free account. You'll need your email address and basic personal details.

  3. Verify your identity

    Upload ID documents as required (passport, driving licence, or national ID). Most providers verify within 1-2 business days.

  4. Enter recipient details

    Add your recipient's bank account details including their name, account number, and SWIFT/BIC code.

  5. Fund and track your transfer

    Pay by bank transfer or debit card, then track your money until it arrives. Most transfers complete within 1-3 working days.