Find the Best Way to Transfer Money to Malaysia
To find the best way to transfer money to Malaysia, you should compare your options. Even before you do that, it's important to understand how it actually works.
How to transfer money to Malaysia from Australia
While each bank and money transfer service is different, you will always need to follow these steps to transfer your money safely and quickly:
- Setting up an account usually takes 5-10 minutes and make sure you have some I.D. on hand
- Enter the bank details of the person or company you are sending the money to
- Pay for your transfer using a card or bank transfer
Now that you know how to transfer money to Malaysia, you can compare your options. We understand, this isn't easy.
Every bank and money transfer company offer different exchange rates and fees depending on how much you want to send.
That's why using our table compares the total cost of the transfer, based off the amount of your transfer.
Fee Free Offer
The Currency Shop has partnered with WorldRemit to offer 3 fee free money transfers. Click on this offer, register your details and avoid paying a fee to transfer money overseas.
- Zero fees on your first THREE money transfers
- Send money with WorldRemit using the code '3FREE' and pay no fees on your first three money transfers
- Valid until 31st March 2020
- Bank transfers only. Does not apply to cash pick-up or airtime
- Receiving or intermediary banks may charge fees on transactions
Learn More About WorldRemit
How to find the cheapest way to transfer money from Australia to Malaysia
Banks and money transfer services will offer different exchange rates and fees depending on your amount. To find the cheapest option, you really need to compare the total cost of the transfer based on your amount.
Keeping your money safe
We've made sure that all the money transfer services and banks you compare are safe. Each company:
- Is regulated in Australia and Malaysia
- Holds an appropriate financial services license
- Have strict privacy policies
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More helpful information, tools and videos
Here at The Currency Shop, you’ll learn how to save on transfer fees when sending money overseas from Australia.
We have fast and easy guides and tools including:
Frequently Asked Questions about Sending Money to Malaysia from Australia
How do I transfer money to a Malaysian bank account?
What information do I need to make a transfer?
To send money to Malaysia from Australia, you’ll normally need the following information:
- Your name, address, identity verification and payment details.
- The name and address of the beneficiary or recipient you’re sending money to.
- The recipient’s bank account details including the name of the bank and account number.
- In all cases you will need to provide the BIC or SWIFT code.
How long does it take to send money to Malaysia?
It depends on the provider you choose, how you pay for the transfer and how the recipient wants to get the money. Most money transfers to Malaysia via a specialist provider will take 0 to 2 days.
How can I pay for my money transfer to Malaysia?
Depending on your provider, there are several different ways to pay. Many providers accept direct bank transfers, wire transfers, or debit or credit card payments. They may charge a small additional fee, depending on how you decide to pay.
Is it safe to use The Currency Shop to compare?
Yes. The Currency Shop holds an Australian Financial Services Licence (462269) and is a member of the Financial Ombudsman Service. We closely vet our providers and only partner with the largest, safest and most trusted money transfer companies in the world. That just makes sense.
How does The Currency Shop make money?
The Currency Shop does not charge you. Instead, we receive a referral fee from the banks and money transfer companies that we are partnered with. This does not affect the price you pay.
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