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Transferwise Malaysia: Money Transfer Coverage at Cheaper Rates

BY Team Loanstreet

Updated 03 Dec 2020

TransferWise recently has announced an enhancement of services for customers in Malaysia, who can now receive low cost and fast international money transfers from Indonesia and send MYR to Alipay users in China. 

What's covered in this article?

Transferwise made it CHEAPER - price drop up to 30%

These latest expansions come at the heels of other updates, including price drops for sending money to 10 currencies in Asia and enabling customers to receive international payments within minutes.

In September, TransferWise made it cheaper for customers to send money to MYR or any of these other nine Asian currencies — INR, THB, IDR, CNY, PKR, VND, KRW, LKR, or BDT — as part of its continuing effort to make international money transfers more affordable and transparent. For some currency routes, the price drop can be as high as 30%.

TransferWise also made it faster for customers to receive their payments.

They were the first global payments company to go live on DuitNow, allowing customers to receive their international payments in less than 2 minutes. Customers can make instant pay-ins to fund their transfers, as a result of their integration with the Financial Process Exchange (FPX).

Here's why you should consider TransferWise’s service in Malaysia:

  • Cheaper 一 by up to 4x compared to banks and other providers. 
  • Faster 一 50% of all transfers globally are completed within an hour, with over 30% arriving at their destinations instantly (in less than 20 seconds). 
  • Easier 一 100% online experience from verification to the setting up and completion of transfers, with no need for customers to leave their homes. 
  • More transparent 一 the only service to use the real, mid-market exchange rate seen on Google.

For more info, visit
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About the Author

Team Loanstreet

Run by a professional human-sized team, get resourceful tips & guides from our very own library of financial articles that can help improve your financial lifestyle & make a well-informed money decision. We strive to provide you with the best service in helping you to get the most out of that DUIT!


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