Best Foreign Money Transfer Services in Malaysia
(aka Gini Gangadharan - iamgini.com)
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As an expat, saving something at the end of pay date is an important thing for foreigners those working abroad. And some of the expats are saving in Malaysian Ringgit but most of of them are sending money to their home country for meeting their expenses at native and also as a saving in their home currency.
Now we have more players in the e-remittance market, listing out some of the best.
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Comparison Chart
| Remittance Service | Transfer Type | Minimal Fee | Speed (Days) |
| eRemit | online | RM 12 | 0-1 |
| Sunway Money | online | RM 1 (PROMO) | 0-1 |
| Instarem | online | RM 3 (minimum and depends on amount) | 0-2 |
| UAE Exchange | online / Cash | RM 5 | 0-2 |
| Western Union | Online / Cash | 1% (and incremental) | 0-2 |
| MoneyGram | Online / Cash / App | 10 RM | 0-2 |
| MoneyMatch | Online / App | 8 RM | 0-2 |
| ValYou | Online / Cash | FREE | 0-1 |
| Lotus Remit | Cash | 12 RM | 0-1 |
MyTransfer : An app to find Best Transfer Rates Malaysia !
We have noticed several apps to monitor the best money transfer rates and we would like to highlight this app as we found most accurate information on a single pane.
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eRemit
eRemit is a money transfer service provided by Merchantrade Asia Sdn Bhd, a trusted, licensed Remittance Service Provider; providing money transfer services to major countries in Asia including Bangladesh, Nepal, Indonesia, Philippines, Vietnam, India and Sri Lanka.
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Sunway Money
Sunway Money is a remittance service provider from popular Sunway group, and offering best transfer rate in the market. Also there is a promo which will allow you to send money for just 1 RM as transfer fee.
InstaRem
Instarem offer good service and the minimal transfer fee is RM 3 (and will be more if you are sending more money). Also they have referral program by which you can invite a Friend & Earn InstaPoints (which you can redeem as benefits).
UAE Exchange
UAE Exchange has presence in more than 31 countries and it is a leading global remittance, Foreign Exchange and payment solutions brand.
Western Union
Providing services in most of the countries, Western Union money transfer is a good choice if you want to transfer money to someone very urgently and without adding beneficiary. You have online as well cash agent options.
MoneyGram
MoneyGram is offering foreign money transfer around the globe and handling this via few banks in Malaysia (MayBank, CIMB etc).
Money Match
MoneyMatch is a multi-national financial technology firm focusing on international payments.
ValYou
ValYou is offering remittance services to asian countries like India, Indonesia, Pakistan, Bangladesh, Nepal, Philippines etc.
Lotus Remit
Lotus Remit offer Cash to Cash or Remit to Bank services and also providing good exchange rate.
Disclaimer
All above details are as per our observation and we do not have any contract with any of the vendors mentioned above. Please use the service at your own risk and responsibility
