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How to send money to Malaysia

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


Fact checked
Sending money from the US to Malaysia doesn’t have to be an expensive or time-consuming process. You can convert US dollars to Malaysian ringgit in no time at all, and for many transfer companies, you won’t even have to leave the comfort you your home. Our guide will tell you how to make your transfer and give you plenty of places to start.
XE Money Transfer

Send money to Malaysia with XE

XE specializes in a wide range of foreign currency solutions and offers an affordable solution when you need to send money overseas.

  • Send money to 200+ countries.
  • Competitive exchange rates that are often better than banks.
  • Transfer up to $500,000 online.
  • See exchange rates in real-time.

    Compare international money transfers to Malaysia

    Select your currency and transfer amount, and compare the fees, rates and transfer times of different providers.

    Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
    USD 1 1 - 2 days USD 0.00 4.313 MYR 4,313 Offering no maximum and no minimum limit transfers with $0 fees. Go to site Show details
    USD 0 1 - 2 days USD 1.99 4.261 MYR 4,252 Special offers like free transfers and better exchange rates available for new customers.
    Quick, affordable transfers around the world with both express and economy options.
    Go to site Show details
    USD 1 1 - 2 days USD 11.00 4.347 MYR
    Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
    USD 1 Within an hour USD 3.99 4.326 MYR 4,309 Use promo code 3FREE to send your first 3 transfers with no fee. Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details

    Compare up to 4 providers

    Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

    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 US 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 their successful long-distance relationship. But when he sees the exchange rate offered by the major US bank he has an account with, Max decides to compare two money transfer companies instead.

    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.

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    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

    When making a money transfer, you might start wondering what exactly is an exchange rate? To put it simply, exchange rate is the way international businesses and banks convert one currency into another. When a country’s currency is strong, it will yield more money when exchanging it in a country with a weak currency. Every country’s exchange rate is flexible and impacted by the global market, so checking the rates daily will help you get a better idea of what to expect when making a transfer to someone in Malayasia.

    Best USD to MYR exchange rates

    Options for sending money to Malaysia from America

    • Bank transfers. A transfer from your US bank account to a Malaysian 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 smart phone. This comes with options for cash pickup or direct deposit.
    • Checks. You can obtain an international guaranteed check from your bank and mail it overseas, but this is a time-intensive process and runs the risk of the check being lost while being shipped.
    • 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.

    How to send money to Malaysia

    Ready to make a transfer? Here are the basic steps you’ll need to follow.

    1. Compare your money transfer options above.
    2. Select a provider that suits your needs.
    3. Create an account.
    4. Start a transaction.
    5. Enter your recipient’s information.
    6. Select a transfer amount.
    7. Pay for your transfer.
    8. Save your tracking number.

    Don’t forget to follow up on your transaction! If there is any trouble, your tracking number will be helpful when you contact customer service, and if you recipient is picking up cash, they may need it to complete their end of the transfer.

    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 about 10 minutes. However, be aware of the fact that you’ll usually pay an extra fee for quick transfers, and you may also need to settle for a lower exchange rate. 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.

    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.

    Cash pickup locations in Malaysia

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    10 Responses

    1. Default Gravatar
      HawkJanuary 28, 2019

      Does the recipient needs a valid Malaysian visa to pick up money in Kuala Lumpur?

      • Avatarfinder Customer Care
        JhezJanuary 29, 2019Staff

        Hi Hawk,

        Thank you for your comment.

        According to one of the money transfer companies, the recipient must show a valid photo ID such as:

        – Passport
        – Driving licence
        – ID card/MyKad

        A Malaysian Visa is not really required.


    2. Default Gravatar
      LolitaApril 19, 2018

      Im in doubt, fr example, if someone oversea intend to send money, do i hv to pay fr itc international transfer commission? Jz wanna know fearing this all scammers

      • Default Gravatar
        ArnoldApril 20, 2018

        Hi Lolita,

        Thanks for your inquiry

        Generally, it is the sender who shoulders the transfer fees. However, there are money transfer services that allow the receiver to pay the fees. It would be best to confirm this with the company chosen by the sender.

        Hope this information helps


    3. Default Gravatar
      AzriApril 3, 2018

      I just want to know what proof can we show the agent in Malaysia in claiming the money?

      • Avatarfinder Customer Care
        JhezApril 4, 2018Staff

        Hello Azri,

        Thank you for your comment.

        Usually, if you’re to pick up the cash someone has sent you, you’ll need the details of the sender and the transaction number or the reference number. You also must bring your valid government-issued ID.

        To be sure, check with the remittance company the steps to claim the mooney.


    4. Default Gravatar
      melMarch 15, 2018

      It’s that true for the first online international banking he said during the process for the exchange rate of the payment transaction settlement for the money to be credited into your account in MYR you have to pay the online processing fee rm650 more or so because this the first time to get an online international payment transaction settlement from us company

      • Avatarfinder Customer Care
        RenchMarch 20, 2018Staff

        Hi Mel,

        Thanks for your inquiry.

        Yes, there is a transfer fee that will be added to your total of money transfer. It will depend on which money transfer service you will use and the amount that you’ll transfer.

        Best regards,

      • Default Gravatar
        QestinaApril 10, 2018

        Hi dear,I need to double confirm. It’s that true for the first online international banking he said during the process for the exchange rate of the payment transaction settlement for the money to be credited into your account in MYR you have to pay the online processing fee rm2950 more or so because this the first time to get an online international payment transaction settlement from us. But the agent call me and ask with me,regarding the charge of the fee..but I’m confused he give the personal account number with me.

      • Avatarfinder Customer Care
        MayApril 10, 2018Staff

        Hi Qestina,

        Thank you for reaching out.

        If the money is sent directly to your bank account, usually your bank will be the one to charge you a fee for the inward transfer into your bank account. For legitimate money transfers, senders don’t usually ask for fees for sending you the money and they will not provide you with their personal bank account details. Best if you can confirm your transaction whether this is legit or not.


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