9 best international money transfer services in Malaysia (2026)

Key Takeaways:

• Malaysia has several international money transfer options, but not all work the same way. Some are personal-only, some need in-person visits, and some cover a limited set of countries.

• The cheapest international money transfer isn't always the one with the lowest fee. Compare both the transfer fee and the exchange rate, as hidden FX markups can make a "free" transfer more expensive overall.

• For businesses, Airwallex offers free transfers via local payment rails and FX rates at just 0.4% to 0.6% above interbank, saving you up to 80% on FX fees compared to traditional banks.

Finding the best international money transfer service in Malaysia isn't as simple as picking the biggest name.

Some providers are designed for personal remittances, while others help businesses pay overseas suppliers or receive international payments. They also differ in fees, exchange rates, transfer speeds, and the countries they support.

In this guide, we compare nine of the best international money transfer services available in Malaysia in 2026.

If you're running a business and need to make international business transfers, skip to the end of this guide where we share the best option for businesses.

9 best international money transfer services for personal use (2026)

The table below gives you a quick overview of all nine options:

The information in this table has been reviewed to be accurate as of 24 April 2026.

1. Wise

Wise is one of the most popular choices for individuals sending money overseas from Malaysia, especially if you value transparent exchange rates and a straightforward online experience.

It's well suited for personal transfers such as supporting family abroad, paying for overseas education, or sending money to your own bank account in another country.

However, Wise's Malaysian account is not intended for business payments. According to Wise's terms, using a personal account to pay suppliers, employees, or make transfers on behalf of a business may result in the account being deactivated.

Key features:¹

• Uses the mid-market exchange rate with no FX markup

• Shows the exchange rate and recipient amount before you confirm the transfer

• Supports transfers from Malaysia to 70+ countries

• Multiple funding methods, including FPX and bank transfer

• Transfers are fully managed online through the website or mobile app

• Most transfers arrive the same day or instantly, depending on the destination

• Transfer tracking available within the app

• Personal transfers only for Malaysian account holders

Information in this section is based on Wise’s official website as of 31 July 2026.

2. MoneyMatch

MoneyMatch is a Malaysia-based international money transfer service that's licensed to operate locally. It's a good option if you prefer using a homegrown provider that's built around Malaysian payment rails and local compliance requirements.

MoneyMatch supports transfers to more than 110 countries and offers multiple payout options, including bank transfers, mobile wallets, and cash pickup.

Key features²

• Licensed money transfer provider in Malaysia

• Supports transfers to over 110 countries

• Multiple payout options, including bank transfer, mobile wallet, and cash pickup

• Shows the final exchange rate and recipient amount before you confirm the transfer

• Online platform and mobile app for managing transfers

• Customer support based in Malaysia

• Typically delivers transfers within 1–2 business days, depending on the destination

• Available for personal international money transfers from Malaysia

Information in this section is based on MoneyMatch’s official website as of 31 July 2026.

3. TNG Remit (GOremit)

TNG Remit (GOremit) is the international money transfer service built into the Touch 'n Go eWallet. It's a convenient option for existing TNG eWallet users, as you can send money overseas without downloading a separate app or creating a new account.

Depending on the destination, recipients can receive funds via bank transfer, e-wallet, or cash pickup.

Key features:³

• Integrated into the Touch 'n Go eWallet app

• Supports transfers to over 50 countries

• Multiple payout options, including bank transfer, e-wallet, and cash pickup

• Available to Pro and Premium TNG eWallet users

• Requires eKYC verification before you can send money

• Shows the final exchange rate and transfer amount before you confirm

• Transfer limits depend on your TNG eWallet account tier

• Fully digital transfer process within the app

Information in this section is based on TNG Remit’s official website as of 31 July 2026.

4. Instarem

Instarem is an international money transfer service that's available in Malaysia for personal overseas transfers.

It's a good option for people who send money abroad regularly, thanks to its loyalty programme that rewards eligible transfers with InstaPoints, which can be redeemed for discounts on future transfers.

New customers may also be eligible for promotional offers, such as fee-free first transfers, subject to Instarem's terms and conditions.

Key features:⁴

• Supports personal transfers from Malaysia to over 60 countries

• Shows the exchange rate and transfer fees before you confirm

• Earn InstaPoints on eligible transfers

• Redeem InstaPoints for discounts on future transfers

• Multiple funding and payout options, depending on the destination

• Online platform and mobile app for managing transfers

• Promotional offers available for eligible new customers

• Transfer times vary by destination, with many transfers completed within 1–2 business days

Information in this section is based on Instarem’s official website as of 31 July 2026.

5. WorldRemit

WorldRemit is a good choice if your recipient needs flexibility in how they receive their money.

In addition to bank transfers, it supports cash pickup, mobile wallet transfers, and airtime top-ups across a wide range of destinations, making it particularly useful for recipients who don't have access to a bank account or prefer alternative payout methods.

Key features:⁵

• Supports transfers to over 130 countries

• Multiple payout options, including bank transfer, cash pickup, mobile wallet, and airtime top-up

• Fund transfers using FPX or a Malaysian debit card

• Shows the exchange rate and transfer fees before you confirm

• Fully digital transfer process through the website or mobile app

• Cash pickup available in supported destinations

• Mobile wallet transfers available in selected countries

• Transfer speed varies depending on the destination and payout method

Information in this section is based on WorldRemit’s official website as of 31 July 2026.

6. Western Union

Western Union is one of the world's largest and longest-established international money transfer providers. It's a strong option if your recipient prefers to collect cash rather than receive money in a bank account, thanks to its extensive global network of agent locations.

In Malaysia, you can send money online or visit one of its local agent locations to arrange a transfer.

Key features:⁶

• Supports transfers to over 200 countries and territories

• More than 525,000 agent locations worldwide

• Over 2,500 agent locations across Malaysia

• Send money online or in person

• Cash pickup available in supported destinations

• Multiple payout options, including bank transfer and cash pickup

• Online transfers available for eligible transactions up to RM30,000

• Transfer speed varies by destination and payout method

Information in this section is based on Western Union’s official website as of 31 July 2026.

7. Maybank Foreign Telegraphic Transfer

Maybank's Foreign Telegraphic Transfer (FTT) is the bank's standard service for sending money overseas.

It's a good option if you already bank with Maybank and prefer to make international transfers from a familiar platform rather than signing up for a separate money transfer provider. You can send money directly from the MAE app or Maybank2u to recipients in over 200 countries.

Key features:⁷

• Available to existing Maybank customers

• Send money through the MAE app, Maybank2u, or at a Maybank branch

• Supports transfers to over 200 countries

• Available daily, including weekends and public holidays (subject to service hours)

• Suitable for sending funds directly to overseas bank accounts

• Uses the SWIFT network for international bank transfers

• Transfer times vary depending on the destination and receiving bank

• Transfer status can be tracked through your Maybank account

Information in this section is based on Maybank’s official website as of 31 July 2026.

The information in this table has been reviewed to be accurate as of 24 April 2026.

What's the cheapest way to send money internationally from Malaysia?

The cheapest international money transfer isn't always the one with the lowest advertised fee. That's because many providers earn money in two ways:

• A transfer fee, which is shown upfront.

• An exchange rate markup, where they offer you a worse exchange rate than the mid-market rate (the rate you see on Google).

For example, imagine you're sending RM5,000 overseas.

Even though Provider A advertises a "free" transfer, the poorer exchange rate means your recipient ultimately receives less money. Provider B charges a visible fee, but because it uses the mid-market exchange rate, it may still work out cheaper overall.

When comparing international money transfer services, don't just look at the transfer fee. Check:

• the exchange rate being offered,

• the total cost of the transfer, and

• the final amount your recipient will receive.

The easiest way to compare providers is to look at how much money arrives in your recipient's account, not how much you pay in fees.

Running a business? Don't use a personal money transfer service

The providers in this guide are designed for personal transfers, such as sending money to family overseas, paying for overseas education, or transferring money to your own account abroad. If you're running a business, they're generally not the right tool.

Businesses often need to pay multiple overseas suppliers, contractors, or employees, manage payments in different currencies, and keep a clear record of every transaction for accounting. Most personal money transfer services don't offer these capabilities.

Some providers also prohibit commercial use. For example, Wise states that Malaysian personal accounts can't be used to make payments on behalf of a business, and doing so may result in the account being deactivated.

If your business regularly makes international payments, you'll likely benefit from using a platform that's built for business transfers instead.

Transfer money to 200+ countries with Airwallex

Airwallex is a fintech platform that helps Malaysian businesses send and receive money internationally.

Unlike personal money transfer services, it's built for businesses managing cross-border payments at scale, with support for overseas supplier payments, multi-currency accounts, batch transfers, and accounting integrations.

Here’s what you get with Airwallex:

• FX rates at 0.4%–0.6% above the interbank rate, saving you up to 80% on FX fees

• 94% of transfers are routed through local payment rails, helping reduce SWIFT fees

• Hold and manage funds in 20+ currencies with Global Accounts

• Batch payments to up to 1,000 recipients in a single transfer

• Direct integrations with Xero, QuickBooks, and NetSuite

• Licensed in Malaysia as a Class B remittance service for business payments

Malaysian baby care brand Applecrumby estimates it saves around RM100 per international transfer after switching to Airwallex.

Frequently asked questions (FAQs)

What is the best international money transfer service in Malaysia?

It depends on how you're sending money and to where. Wise and Instarem work well for straightforward personal transfers with transparent pricing, while TNG Remit is convenient if you already use the eWallet. For businesses sending international payments, a dedicated business platform like Airwallex is built for that use case rather than personal remittances.

What is the cheapest way to send money internationally from Malaysia?

The cheapest option isn't always the one with the lowest advertised fee. Check the FX rate too, since many providers make up for a low fee with a wider exchange rate margin. Providers using the mid-market rate with a small transparent fee are usually cheaper overall than "zero fee" options with a hidden mark-up. Airwallex charges 0.4% to 0.6% above interbank, helping you save up to 80% on FX fees compared to traditional banks.

Is Wise safe to use in Malaysia?

Wise Payments Malaysia Sdn. Bhd. is regulated under Malaysian law as a remittance, money-changing, and e-money issuance business. It's worth checking any provider's licensing status before sending money with them for the first time.

How much money can I send overseas from Malaysia?

Transfer limits vary by provider, destination country, and payment method; some providers cap daily or per-transaction amounts, especially for cash pickup or e-wallet payouts. Check the specific provider's limits before setting up a large transfer, since amounts above certain thresholds may require extra documentation.

What's the best way for a business to send money internationally from Malaysia?

Business international transfers usually need more than a personal remittance app: think multi-currency accounts, batch payments, and integration with accounting software. Airwallex is built specifically for this, letting Malaysian businesses send free transfers via local rails to 120+ countries and hold multiple currencies in one account.

Sources:

1. wise.com/my/pricing/

2. moneymatch.co, https://moneymatch.co/transfers

3. https://www.tngdigital.com.my/gofinance/remittance/

4. instarem.com/en-my/

5. worldremit.com/en/my

6. https://www.westernunion.com/my/en/direct-to-bank.html, https://play.google.com/store/apps/details?id=com.westernunion.moneytransferr3app.apac 

7. https://www.maybank2u.com.my/maybank2u/malaysia/en/personal/services/funds_transfer/overseas/foreign_telegrapic_transfer.page

8. https://www.moneygram.com/r/my/en

9. https://bigpayme.com/, https://bigpaysupport.zendesk.com/hc/en-us/articles/6338835016205--International-Bank-Transfer-How-Long-Does-It-Take-for-My-Transfer-to-Reach-the-Recipient