Black Friday saving continues 🥳

Get the biggest bargains of Cyber weekend

Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Send money to Malaysia

Find a quick, affordable service to make a money transfer to Malaysia.

Updated

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

Send money to Malaysia with WorldRemit

WorldRemit can help you get your money where it needs to go in minutes, with upfront exchange rates and low fees.

  • Use promo code 3FREE to send your first three transfers with no fee
  • Send cash online within minutes
  • Large range of destinations
  • No minimum transfer amount
Promoted

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 60 1 day NZD 0.00 2.848 MYR
14,238
Skrill offers easy transfers to many popular destinations, but keep an eye out for added fees Go to site Show details
NZD 0 Same day NZD 0.00 2.844 MYR
14,221
Send money in more than 60 currencies. Fee-free international money transfers with a global brand. Go to site Show details
NZD 1 Within an hour NZD 3.99 2.847 MYR
14,224
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
Go to site Show details
AUD 250 1 - 2 days NZD 15.00 2.83 MYR
14,107
A higher exchange rate applies to non-finder customers. Send money in 45 currencies. No fee if you transfer over AUD$10,000. Go to site Show details
NZD 2,000 2 days NZD 0.00 2.83 MYR
14,149
Exclusive offer: $0 transfer fee and discounted exchange rates for all Finder customers.
A higher exchange rate applies to non-finder customers. Send money in more than 60 currencies.
Go to site Show details
NZD 1 1 - 2 days NZD 60.00 2.858 MYR
14,121
Make online transfers with transparent exchange rates, low fees and low minimum amounts. 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.
Back to top

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 New Zealand 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 specialise in handling overseas money transfers, offering attractive exchange rates and affordable transfer fees. This translates to big savings for you.

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?
  • Pick-up 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. In October 2018, the New Zealand dollar was worth approximately 2.72 Malaysian ringgit. 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 Malaysia.

Today’s exchange rates NZD to MYR

Back to top

Options for sending money to Malaysia from New Zealand

  • Bank transfers. A transfer from your New Zealand 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 pick-up or direct deposit.
  • Cheques. You can obtain an international guaranteed cheque from your bank and mail it overseas, but this is a time-intensive process and runs the risk of the cheque being lost while being shipped.
  • Money transfer companies with cash pick-up 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.
  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.
Back to top

Cash pick-up locations in Malaysia

More guides on Finder

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use, Disclaimer & Privacy Policy.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site