How to send money to Malaysia

Take advantage of low fees and competitive exchange rates when sending money to Malaysia.

When you need to get money to a loved one overseas, the last thing you want to deal with is navigating a potentially complicated and expensive process. Sending money from the United States to Malaysia doesn’t have to be expensive. Compare the transfer fees and exchange rates of the options available to you to get the best deal.
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    Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options.

    With over 17 years of foreign exchange expertise and over $100 billion transferred, OFX can help with all your currency exchange needs, including:

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    Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Services Amount Received Description CTA Details
    World First Foreign Exchange
    USD 1,000 1 day USD 0.00 4.219 Online MYR 21,093 Exclusive offer: $0 transfer fee
    No-limit transfers with competitive exchange rates for more than 100 currencies.
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    OFX International Money Transfers
    USD 150 1 day USD 0.00 4.265 Online, Bank Account to Bank Account MYR 21,327 Send safe, no-limit transfers with no fees and competitive exchange rates. Go to site View details
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    Sending money to Malaysia

    How do international money transfers work?

    An international money transfer allows you to send money to a recipient overseas. Generally, a transfer involves you providing funds to a bank or an independent transfer provider, which then sends the money to your recipient in another country — in this case, Malaysia. This can be done in person, over the phone, through a mobile app or online. You can use cash, a credit or debit card, or transfer funds from your bank account, which will then either be deposited into your recipient’s bank account or mobile wallet, or made available as cash for them to pick up at a location in their country.

    Banks versus money transfer services

    We use our banks to take care of all our other financial needs, so surely we should use them when we need to send an international money transfer, right? Not necessarily. While major U.S. banks offer money transfer services, they usually present less competitive exchange rates coupled with high transfer fees.

    You can often save money by using the services of a dedicated money transfer company. These providers specialize in handling overseas money transfers, offering attractive exchange rates and affordable transfer fees. This translates to big savings for you.

    Case Study: Max Sends Money to Malaysia

    Max wants to send $1,000 to his girlfriend in Malaysia as a gift to celebrate one year of a successful long-distance relationship. But when he sees the exchange rate offered by the major U.S. bank he has an accounts with, Max decides to compare two money transfer companies.

    Money transfer company 1Money transfer company 2
    Exchange rate1 USD = 4.12 MYR1 USD = 4.30 MYR
    Transfer fee$14$16
    Transfer methodBank account depositCash pickup
    Processing time1 business day10 minutes
    Amount received (in MYR)4,120 MYR4,300 MYR

    As you can see, not only does the second company get Max’s money to Malaysia quicker and for only a slightly higher fee, but it also allows him to send an extra 180 MYR because of the better exchange rate.

    How to compare transfer companies when sending money to Malaysia

    • Exchange rates. How do each company’s exchange rates compare to the competition?
    • Fees. How much will you have to pay to send the transfer? Can you avoid a transfer fee if you send a larger amount?
    • Transfer methods. Some companies will only offer online or in-branch transfers while others will also offer the option of placing transfers over the phone or using a mobile app.
    • Turnaround time. Processing times can vary from a few minutes to several days, so check how long each provider will take to complete your transaction.
    • Minimum amount. Is there a minimum transfer limit in place, and if so, is it likely to be higher than the amounts you will want to transfer?
    • Pickup methods. Can your beneficiary pick up the cash from their nearest transfer agent, or will the funds be deposited into their bank account?
    • Customer service. Does the company offer 24/7 customer support if you ever have a question or concern?
    Foreign exchange rates explained
    The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it will yield more money when exchanging it in a country with a weak currency. For example, in December 2016, the U.S dollar was worth approximately 19 Mexican pesos. However, most countries’ exchange rates are flexible, which means it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.

    Best USD > MYR exchange rates

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    Options for sending money to Malaysia from America

    • Bank transfers. A transfer from your U.S. bank account to a Malaysian bank account is a secure and simple transfer option.
    • Online money transfer providers. You can send fast and affordable transfers to Malaysia from your PC, tablet or smartphone.
    • Checks. You can also obtain an international guaranteed check from your bank and mail it overseas.
    • Money transfer companies with cash pickup options. Western Union and MoneyGram allow you to transfer cash that can be picked up in person from branches throughout Malaysia.
    • PayPal. PayPal offers secure and simple money transfers to Malaysia online.
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    Emergency cash transfers in Malaysia

    Some companies will offer the option of sending instant transfers, which usually mean the funds will be available to your recipient within around 10 minutes. However, be aware of the fact that you’ll usually pay an extra fee for urgent transfers, and you may also need to settle for a lower exchange rate than is otherwise available. With this in mind, take care to closely check the fee and exchange rate that apply to your transaction so you can avoid any nasty surprises.

    Back to topFind a money transfer location near you

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    Tips for picking up cash in Malaysia

    It always pays to exercise caution when picking up a sum of cash, so keep the following safety tips in mind in Malaysia:

    • Be wary of thieves. Keep your wallet hidden and keep a firm hold of your bag at all times.
    • There’s always safety in numbers, so ask a friend to come along with you when you pick up your funds.
    • Avoid areas where crime is known to be a problem and take your funds to your bank as soon as possible.
    • As a general rule, it’s always good to avoid carrying large sums of cash.
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    Cash pickup locations in Malaysia

    Worldremit

    AKBAR MONEY CHANGER SDN BHD
    Address: No 25 Medan Pasar
    Hours: 8:45 AM – 6:30 PM
    Phone: +60-20721348

    CBL MONEY TRANSFER SDN BHD
    Address: 39 (Ground Floor), Jalan Lebuh Pudu
    Hours: 9:00 AM – 6:00 PM
    Phone: +60- 320221625

    ORIENTAL HOUSE SDN BHD
    Address: Lot 113, Ground Floor , Ampang Park Mall
    Hours: 8:00 AM – 6:00 PM
    Phone: +60-321619490

    Moneygram

    MAYBANK – #25147 – KL SENTRAL BUREAU DE
    Address: Lot No 5 Departure Hall Kuala Lumpur City Air Terminal KL Sentral Kuala Lumpur, 50470
    Hours: 6:00 AM – 10:30 PM
    Phone: +60-3-22729702

    CIMB BANK – KL SENTRAL
    Address: Lot 23 Departure Hall Level 1Kuala Lumpur City Air Terminal KL Sentral, 50470
    Hours: 9:00 AM – 7:00 PM
    Phone: +60-3-22731950

    CIMB BANK – WISMA KOPONAS
    Address: 70-72 74 Wisma Koponas Jalan Tun Sambanthan Kuala Lumpur, 50470
    Hours: 9:15 AM – 4:30 PM
    Phone: +60-3-22746489

    Western Union

    103 PLAZA OSK
    Address: Ground And Mezzanine Floor Podium Block Plaza Osk Jalan Ampang Kuala Lumpur, Kuala Lumpur 50450
    Hours: 9:30 AM – 4:00 PM
    Phone: +60-3-21644326

    ALIF MONEY CHANGER AMPANG
    Address: Lot 19 Ground Floor Tesco Hypermarket Ampang Kuala Lumpur, Kuala Lumpur 55100
    Hours: 10:00 AM – 10:00 PM
    Phone: +60-3-92849682

    M H DIN SDN BHD SUNWAY PUTRA MALL
    Address: Lotclg 33 Lower Ground Floor Sunway Putra Mall Jalan Putra 50350 Kuala Lumpur, Kuala Lumpur 50350
    Hours: 9:00 AM – 11:00 PM
    Phone: +60-3-21102240

    Worldremit

    UAE EXCHANGE MALAYSIA SDN BHD
    Address: Unit B- 38. Lower Ground Floor,Suria Sabah
    Hours: 8:30 AM – 6:00 PM
    Phone: +60-8273998

    Moneygram

    EZ MONEY EXPRESS
    Address: 7-1 Ground Floor Block E Buhavan Square Jalan Penampang Dong Kota Kinabalu, 89500
    Hours: 8:15 AM – 5:15 PM
    Phone: +60-88-712280

    AGELESS WEALTH SDN BHD – Sinsuran
    Address: Ground Floor Lot 8 Block N Sinsuran Shopping Complex Kota Kinabalu
    Hours: 8:30 AM – 6:00 PM
    Phone: +60-88-225898

    AGELESS WEALTH SDN BHD – Kg Air
    Address: 5 Jalan Merdeka Kampong Air Kota Kinabalu, 88000
    Hours: 8:30 AM – 6:00 PM
    Phone: +60-88-246895

    Western Union

    AGROBANK PENAMPANG
    Address: Blok D Lot 3 Dongongong New Township Kota Kinabalu, Sabah 89507
    Hours: 8:30 AM – 5:30 PM
    Phone: +60-88-729380

    POS LIKAS 13020
    Address: Lot 2 And 3 Tingkat Bawah Likas Square Jalan Istiadat Likas Kota Kinabalu, Sabah 88400
    Hours: 8:00 AM – 4:30 PM
    Phone: +60-88-256904

    POS BESAR KOTA KINABALU 13002
    Address: Jalan Chong Thein Vun Off Jalan Tun Razak Kota Kinabalu, Sabah 88670
    Hours: 8:00 AM – 4:30 PM
    Phone: +60-89-210855

    Worldremit

    AKBAR MONEY CHANGER SDN BHD
    Address: No 440 Penang Road
    Hours: 10:00 AM – 6:30 PM
    Phone: +60-228 8786

    MAPCO MUTIARA SDN BHD
    Address: 178, Penang road , 10000 Penang
    Hours: 9:00 AM – 6:00 PM
    Phone: +60-4264 4911

    UAE EXCHANGE MALAYSIA SDN BHD
    Address: Unit G – 11,Ist Avenue Mall Penang
    Hours: 10:00 AM – 10:00 PM
    Phone: +60-2626873

    Moneygram

    MAYBANK – BALIK PULAU
    Address: 2 Jalan Quah Sin Kheng Balik Pulau Balik Pulau, 11000
    Hours: 9:00 AM – 6:00 PM
    Phone: +6-04-8665910

    MAYBANK – RELAU SERVICE CENTRE
    Address: 9 & 9A Jalan Relau Balik Pulau, 11000
    Hours: 9:00 AM – 6:00 PM
    Phone: +6-04-6445321

    CIMB BANK – BALIK PULAU
    Address: 72 Jalan Besar Balik Pulau, 11000
    Hours: 9:15 AM – 4:30 PM
    Phone: +6-04-8667986

    Western Union

    AMBANK BALIK PULAU
    Address: No 23 And 25 Jalan Tun Sardon Mk 6 Balik Pulau Balik Pulau, Penang 11000
    Hours: 9:00 AM – 7:30 PM
    Phone: +6-04-8660863

    AMBANK AYER ITAM
    Address: No 135 J And 135 K Jalan Paya Terubong Ayer Itam, Penang 11500
    Hours: 9:00 AM – 7:30 PM
    Phone: +6-04-8288566

    AGROBANK BALIK PULAU
    Address: No 858 E Jalan Besar Taman Seri Indah Balik Pulau, Pulau Pinang 11000
    Hours: 8:30 AM – 5:30 PM
    Phone: +60-4-8660912

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