MoneyMatch vs Sunway Money: Which should you use in Malaysia? (2026)

Key Takeaways:

• MoneyMatch covers 110+ countries and serves over 1.3 million customers, with no subscription or hidden fees on transfers.

• Sunway Money charges a flat RM8 per transaction for most currencies and offers a daily personal limit of up to RM50,000 with face-to-face verification.

• For businesses that need multi-currency accounts, batch transfers, and accounting integrations, Airwallex offers a more complete cross-border payment solution than both MoneyMatch and Sunway Money.

If you're comparing MoneyMatch vs Sunway Money, you're looking at two of Malaysia's most popular digital remittance platforms. Both are licensed by Bank Negara Malaysia, both charge low flat fees, and both let individuals and businesses send money overseas.

This guide breaks down how each platform works and compares them on the factors that matter most.

If you're unsure how international transfers work in general, also check out our guide on how to send money internationally from Malaysia. 

What is MoneyMatch?

MoneyMatch is a Malaysian fintech company that lets individuals and businesses send money internationally. It was founded in 2015 and officially launched its transfer platform in 2017¹.

Today, it serves over 1.3 million customers² and has processed more than RM27.5 billion in total transactions². It is regulated by Bank Negara Malaysia under Licence Serial Number 00544² and operates across Malaysia, Singapore, Brunei, Australia, and New Zealand².

What is Sunway Money?

Sunway Money is Malaysia's first fully online licensed remittance company³ and a wholly owned subsidiary of Sunway Group, one of Malaysia's largest conglomerates listed on Bursa Malaysia³.

It is fully licensed by Bank Negara Malaysia³ and serves both individual and business customers sending money overseas. To date, it has processed over RM8 billion³ in total transactions across more than 22,000 users³.

MoneyMatch vs Sunway Money: quick comparison

Here's how the two platforms compare at a glance:

The information in this table has been reviewed to be accurate as of 21 April 2026.

How MoneyMatch works

MoneyMatch is a fully digital platform — there are no physical branches. You can send money via its website, mobile app, or the Pulse business dashboard.

Transfers can be sent as bank deposits, mobile wallet payments, or cash pickups, depending on the destination country⁴.

How to open a MoneyMatch account

Opening a personal account is done entirely online. Download the MoneyMatch app or visit the website, register with your details, and complete the identity verification process before you can start transacting⁴.

Business accounts follow a different process. After you register and complete your profile online, a MoneyMatch representative will contact you to schedule a visit to your office for offline verification⁵. You can only activate your business account once that’s done.

MoneyMatch fees and transfer limits

MoneyMatch charges a flat fee per transfer with no registration, subscription, or hidden fees. The exact fee depends on the currency and destination, and is shown to you upfront before you confirm the transfer⁵. To check the fee for your specific corridor, use the live rate calculator at transfer.moneymatch.co.

Transfer limits also vary by currency, destination, and recipient type — whether you're sending to an individual or a business. MoneyMatch will show you the applicable limit when you set up the transfer.

MoneyMatch transfer speed

Once MoneyMatch has received your funds and all compliance requirements are satisfied, transfers typically take 1–2 working days to reach the recipient. The exact time depends on the currencies involved and bank holidays in both the sending and receiving countries.

MoneyMatch business features

MoneyMatch's business product is built around Pulse, a dedicated platform designed for SMEs⁵. Key features include:

• Bulk transfers — pay up to 500 recipients in one go

• Live currency rates — view rates in real time before booking a transfer

• Assigned Relationship Manager — a dedicated contact included with your business account at no extra cost

• Multi-language support — Pulse is available in English, Bahasa Malaysia, and Chinese

• Support hours — customer support is available 9am–9pm, Monday to Sunday (GMT+8)

MoneyMatch's business platform covers 88+ currencies across 110+ countries⁵, making it one of the broader-coverage remittance options for Malaysian SMEs paying international suppliers or employees.

How Sunway Money works

Sunway Money is fully digital — you can send money via its website or mobile app with no physical branches required. All transfers are direct bank-to-bank, with e-wallet payouts available for select currencies and destinations³.

How to open a Sunway Money account

Personal customers can open an account online or through the Sunway Money app. The process involves submitting your identity card (NRIC front and back) or passport, followed by an e-KYC selfie verification — all done within the app. Personal accounts can be approved instantly through e-KYC³.

Business customers follow a separate path. From November 2024, business account registration is done through Sunway's new Fintech Platform rather than the Sunway Money website directly⁷.

Once you sign up, a dedicated Sunway Money representative will get in touch to guide you through the onboarding process. Account applications are processed by the next business day, provided all documents are complete.

There is no account opening fee for both personal or business accounts.

Sunway Money fees and transfer limits

Sunway Money charges a flat fee of RM8 per transaction for most currencies and destinations³. There are two exceptions where a lower fee of RM1 applies:

• Sending JPY to Japan on transactions of RM30,000 and above

• Sending THB to Thailand on transactions of RM5,000 and above

Additional SWIFT charges or fees deducted by the receiving bank may also apply depending on the corridor, and will be shown on the transaction confirmation page before you pay.

Sunway Money also offers a tiered discount structure based on transaction amount³:

The information in this table has been reviewed to be accurate as of 21 April 2026.

The higher the tier, the better the exchange rate you receive.

Daily transfer limits vary by account type and verification method:

The information in this table has been reviewed to be accurate as of 21 April 2026.

Worth knowing: If your transfer amount is RM3,000 or above, you automatically qualify for Tier B pricing — which means a better exchange rate on top of the flat fee. Always check the rate shown at checkout before confirming.

Sunway Money transfer speed

Transfers arrive within the same day to 3 business days, depending on the destination. Sunway Money sends to 90+ countries³, covering most major corridors in Southeast Asia, Europe, North America, and beyond.

Sunway Money business features

Sunway Money's business product is designed for companies making regular international payments. Key features include:

• Direct bank-to-bank transfers — from your company's Malaysian bank account to overseas business or personal accounts³

• E-wallet payouts — available for select currencies including BDT, PHP, CNY, PKR, IDR, and NPR³

• High business transfer limits — up to RM5,000,000 per day for company-to-company transfers³

• Transparent pricing — all charges shown upfront on the transaction confirmation page before payment³

• Dedicated onboarding support — a Sunway Money representative guides business customers through setup⁷

Business customers with existing Sunway Money accounts can migrate to the new Sunway Fintech Platform using the same registered email address. You don’t need to go through registration again.

MoneyMatch vs Sunway Money: Key differences

The comparison table gives you a quick overview, but there are a few differences worth unpacking in more detail:

Country and currency coverage

MoneyMatch covers 110+ countries and 88+ currencies⁵, while Sunway Money covers 90+ countries³.

For most common corridors — Singapore, the UK, Australia, the US, and major Southeast Asian markets — both platforms will serve you equally well. The gap matters more if you're paying in less common currencies or sending to smaller markets. In that case, MoneyMatch's broader network gives it an edge.

Transfer types

MoneyMatch supports bank transfers, mobile wallet payments, and cash pickup in select countries⁴. Sunway Money supports bank transfers and e-wallet payouts for a defined set of currencies — BDT, PHP, CNY, PKR, IDR, and NPR³.

If your recipient needs to collect cash or receive funds to a mobile wallet in a country outside Sunway Money's supported list, MoneyMatch is the more flexible option.

Fee transparency

Both platforms use a flat-fee model with no hidden charges or subscription fees.

Sunway Money publishes its standard fee of RM8 per transaction clearly on its FAQ page, along with the specific corridors and thresholds where RM1 applies³. MoneyMatch's fees vary by currency and destination and are displayed at checkout rather than in a published schedule⁵.

Neither approach is better or worse, but if you prefer to know the fee before you log in, Sunway Money's published structure is easier to reference upfront.

Business verification process

Sunway Money's business onboarding is handled remotely: a representative contacts you after you sign up, and the process is managed digitally through the Sunway Fintech Platform³.

MoneyMatch requires an offline verification step: a MoneyMatch representative visits your office before your business account can be activated⁵. Depending on your timeline and location, this could add a few days to your onboarding.

Institutional backing

MoneyMatch is an independent fintech with BNM licensing and a track record since 2017². Sunway Money is a wholly owned subsidiary of Sunway Group, a top-50 listed group on Bursa Malaysia⁶.

For businesses that factor in financial stability and institutional credibility when choosing a payment partner, this distinction is meaningful.

Which should you choose?

Both platforms are solid options for sending money out of Malaysia. The right choice depends on your use case, how much you're sending, and how much flexibility you need.

Choose MoneyMatch if…

• You need to send money to a country or currency that Sunway Money doesn't cover

• Your recipient needs to collect cash or receive funds via a mobile wallet in a country outside Sunway Money's supported e-wallet list

• You're an SME that wants a dedicated business platform with bulk payment capability, a Relationship Manager, and multilingual support⁵

• You prefer to see fees and rates quoted dynamically at checkout before committing to a transfer

• You send regularly and want a platform built with business payment workflows in mind

Choose Sunway Money if…

• You want a fast personal account setup

• You want to know the standard transfer fee before you log in

• You're sending RM3,000 or above and want to benefit automatically from Tier B pricing for a better exchange rate³

• You need a higher personal daily limit — up to RM50,000 with face-to-face verification³ — without the complexity of a business account

• You're a business making large company-to-company payments and need a daily limit of up to RM5,000,000³

• You value the institutional backing of Sunway Group and prefer dealing with a platform tied to a listed Malaysian conglomerate⁶

What Malaysian businesses should consider instead

MoneyMatch and Sunway Money are built primarily as remittance tools. You send money from your Malaysian bank account to a recipient overseas, and the transfer settles in their account.

But most Malaysian businesses today need more than that: you might need to collect payments from overseas customers, hold foreign currency balances, or reconcile international transfers directly in your accounting software — none of which either platform supports.

This is where Airwallex comes in. Airwallex is a business financial platform regulated by Bank Negara Malaysia. Rather than acting purely as a remittance service, it gives your business the infrastructure to manage money across borders from a single account.

Here’s what you get with Airwallex:

• Free transfers via local rails — 94% of Airwallex’s transactions are routed through local payment systems rather than SWIFT, which means faster delivery and no transfer fees. 93% of transactions arrive on the same working day, and 45% arrive instantly

• Global Accounts in 20+ currencies — open local currency accounts in markets like the US, UK, Australia, Singapore, and more, and receive payments from overseas customers as if you were a local business. This eliminates unnecessary conversion fees on incoming funds.

• Competitive FX rates — businesses that use Airwallex save up to 80% on FX fees compared to traditional banks.

• Batch transfers to 1,000 recipients — pay suppliers, contractors, or employees across multiple countries and currencies in a single upload, compared to MoneyMatch's limit of 500 recipients per batch.

• Accounting integrations — connect directly to Xero, QuickBooks, or NetSuite for automatic reconciliation, so your finance team isn't manually matching international payments at month-end.

• No account opening fees, monthly charges, or minimum transaction requirements. You only pay when you transact.

Applecrumby, a Malaysian baby care brand that expanded across multiple Asian markets, saves approximately RM100 per international transfer since switching to Airwallex.

Frequently asked questions (FAQs)

Do I need to visit a branch to open a MoneyMatch or Sunway Money account?

For personal accounts, neither platform requires a branch visit. Sunway Money personal accounts are verified entirely through e-KYC on the mobile app, and approval can be instant³. MoneyMatch personal accounts are also opened online. Business accounts are different — MoneyMatch requires a representative to visit your office for offline verification before your business account is activated⁵. Sunway Money business customers are onboarded remotely through the Sunway Fintech Platform³.

How do MoneyMatch and Sunway Money's exchange rates work?

Both platforms apply a margin to the mid-market exchange rate — the rate you see on Google. This margin is built into the rate shown at checkout, rather than charged as a separate line item. It means the flat transfer fee is not the only cost you pay. Before confirming any transfer, compare the rate quoted on each platform against the mid-market rate to get a true picture of the total cost. The full amount your recipient will receive is shown before you confirm on both platforms⁴ ³.

What is the daily transfer limit for Sunway Money?

It depends on your account type and how you verified your identity. Personal customers who completed e-KYC can send up to RM30,000 per day. Those who completed face-to-face verification can send up to RM50,000 per day. Business customers that are registered companies can send up to RM5,000,000 per day to other company beneficiaries for payment of goods and services³.

What is the daily transfer limit for MoneyMatch?

MoneyMatch's transfer limits vary by currency, destination, and recipient type — whether you're sending to an individual or a business⁵. The platform will show you the applicable limit when you set up your transfer⁵. For the most accurate and up-to-date limits for your specific corridor, check directly within the MoneyMatch app or website.

Which is cheaper — MoneyMatch or Sunway Money?

It depends on the corridor and the amount you're sending. Both platforms use a flat-fee model with no hidden charges, and both apply an exchange rate margin on top of the flat fee. The best way to compare is to run the same transfer amount on both platforms at the same time and check the total amount your recipient will receive — the exchange rate, not just the flat fee, is what determines the true cost.

Can businesses use MoneyMatch or Sunway Money?

Yes, both platforms offer dedicated business accounts. MoneyMatch provides a business dashboard called Pulse, with bulk payment capability and an assigned Relationship Manager⁵. Sunway Money offers business accounts through its Sunway Fintech Platform, with daily limits of up to RM5,000,000 for company-to-company transfers³. That said, businesses that also need to receive overseas payments, hold foreign currency balances, or integrate transfers with accounting software may find Airwallex a more complete option.

Sources:

1. moneymatch.co/about-us

2. moneymatch.co/about-us

3. sunwaymoney.com/faq

4. moneymatch.co

5. moneymatch.co/business

6. sunwaymoney.com

7. sunwaymoney.com/business

This publication does not constitute legal, tax, or professional advice from Airwallex nor substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. If you would like to request an update, feel free to contact us at [[email protected]]. Airwallex (Malaysia) Sdn Bhd is licensed in Malaysia as a MSB Class B (remittance business only) licensee and is regulated by Bank Negara Malaysia (licence number 00318).