You asked: How can I transfer money from Malaysia to TransferWise?

Can TransferWise receive money in Malaysia?

TransferWise, an online global remittance company that is offering instant, convenient, and transparent international money transfer services, has officially entered the Malaysian market. … TransferWise obtained its remittance licence from Bank Negara Malaysia in June 2019.

Is TransferWise working in Malaysia?

TransferWise’s service in Malaysia is open to individuals – including all locals and foreigners except those with a Foreign Worker status. The service is available now to foreigners with an Expatriate status. For this latter group, due to additional checks required by regulations, the service will begin in 2020.

TransferWise has successfully obtained a remittance license from Bank Negara Malaysia (BNM). The license allows TransferWise customers in Malaysia access to the eKYC (electronic Know Your Customer) checks, instead of having to fulfill KYC requirements face to face.

What is the best way to send money to Malaysia?

Here are the best ways to transfer money to Malaysia with Wise:

  1. Bank Transfer. Bank transfers are usually the cheapest option when it comes to funding your international money transfer with Wise. …
  2. Debit Card. Paying for your transfer with a debit card is easy and fast. …
  3. Credit Card. …
  4. PISP. …
  5. Swift.
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How can I send money to Malaysia?

FAQ about money transfers to Malaysia from Singapore

  1. Compare & find the service with the best rates on
  2. Open an account online.
  3. Set-up your transfer and provide your beneficiary’s bank details in Malaysia.
  4. Pay for your transfer by wire transfer, debit or credit card.
  5. Click “send” – the money is on its way

How can I send money from Singapore to Malaysia?

How to transfer money from Singapore to Malaysia online?

  1. Register for free. Sign up online or in our app for free. …
  2. Choose an amount to send. Tell us how much you want to send. …
  3. Add recipient’s bank details. Fill in the details of your recipient’s bank account. …
  4. Verify your identity. …
  5. Pay for your transfer. …
  6. That’s it.

Can I use WISE in Malaysia?

Foreign workers in Malaysia can now also use Wise to send remittances back home to their family members’ bank accounts and e-wallets without paying costly fees and markups by other service providers — saving money which can stay in their pockets or go towards sending a bigger remittance volume.

How do I receive money from TransferWise?

How do I receive money?

  1. Open a balance in the currency you want to receive money in. …
  2. Click Get account details — you’ll need to complete some requirements if it’s the first time you’re getting account details.
  3. Share these account details to your company, clients or friends, so they can send you money using them.

Does TransferWise have a fee?

Wise multi-currency account pricing.

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It’s free to create a Wise account, and there are never any monthly fees or minimum balances to worry about. … With the Wise account, you’ll always get the real exchange rate. You only pay a small fee to convert currencies in your account.

We are an Electronic Money Institution authorised by the UK Financial Conduct Authority (“FCA”) under the Electronic Money Regulations 2011 for the issuing of electronic money and providing payment services. Our FCA reference number is 900507.

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