Compare money transfers from Malaysia to Singapore

International Tools of money transfer from Malaysia to Singapore

🪙 Cheapest to a bank account	InstaReM
💳 Best with credit card payment	WorldRemit

There are different steps and ways of sending money from the home country to a foreign country or overseas. Money transfer depends on budget, preferences and needs.  Different factors need to be analyzed before money transfering. First of all, there is a need to check the exchange rate of the currency and choose the best one from the available list.  Secondly, you need to check the charge fees rate per transfer by the company or the bank. Other factors which should be considered are transfer destinations, process time, and available option and customer support services.

How to send money to a foreign country?

Various methods are used for online money transfer from Malaysia to Singapore, including bank accounts, money transfer through e-payments, through credit cards and online transfers through companies.

Which services to use?

Money transfer through bank accounts is an outdated task with rapid technological evaluation and a range of online services. But still, this method is practising with the help of online wire transfers (between international banks) banks with SWIFT and IBAN account numbers. Different charge fees are applicable by banks on incoming and outgoing money through this service up to 30$. 

In parallel to transfers through bank accounts, there are licensed companies which give lower cost rate and fast services in this regard. These are various including OFX, CurrencyTransfer, InstaReM, Ria, PayPal, MoneyGram and many more.

Best ways of money transfers internationally (cost analysis)

• Transferwise ranked on this list with services in up to 70 countries with good currency exchange rates and transfer fees typically lower than 1% of the total amount. One can use credit or debit card for this purpose and a limit of 1million dollars per single transfer by this service.
• OFX is the second on this list, with coverage in 80 countries. The delivery and receiving time is 3 to 4 business days with 1 thousand dollars amount limit per transfer. No charge fees apply on transfer while the exchange rate is considered.
• The third on this list is XOOM services, with the exchange rate up to 3% while some offers less than 1% rate. Its delivery time ranges from minutes to few days but this solely linked with time zones of locations. More than 120 countries are providing this service.
• MoneyGram is providing services in 200 countries with markup rate up to 3%. Its transfer amount is limited up to 10 thousand dollars per month. Payment can be sent and receive via credit cards and bank accounts
• Western Union is another service provider in this field and suited to in-person transfers. Also covers up to 200 countries with markup rates from 1 to 6%. Week time is required for cash delivery. Transfer amount limit varies with countries.

Money transfer services from Malaysia to Singapore

If a person wants to send cash payment among the above-said countries two types of methods are available including bank accounts and transfer through companies. It is observed that for money transfer between these countries all the above-mentioned factors should be considered for example what is the exchange rate? what are service charges fees? The time factor is also very important. For this transfer, you can use wire transfer services debit card as well as a credit card but need a bank account first for these services. 

Our advantages

Our website is providing services in this field and also facilitate you make a comparison between different exchange rates and time required for this task. You can understand which service is suitable for you according to your budget and requirements.