Here you’ll find answers to the most common questions about Malaysian ringgit (MYR) transfers.
Sending to MYR
Who can I send MYR to?
You can send MYR to individual and business bank accounts in Malaysia.
What information do I need about my recipient?
You’ll need their full name, bank name, and bank account number. This should be 7–20 digits long.
How much can I send?
If you are paying from another currency, you can send up to 975,000 MYR per transaction. We may ask for more documents if you send more than 200,000 MYR.
How long does it usually take for the money to arrive?
Once we receive and convert your money, it usually takes 2 working days to arrive in your recipient’s bank account. Conversion can take up to 2 working days.
We’ll always give you an estimate for how long your transfer will take when you set it up.
Learn more about how long transfers take
Are there any restrictions on sending to MYR?
If your recipient has a non-resident local bank account in Malaysia, they can only receive a maximum of 10,000 MYR per day. Their bank might close the account if they try to receive more than this.
Sending from MYR
How can I pay for my transfer from MYR?
You can only pay by bank transfer from your Malaysian bank or via FPX.
Payments by Swift or credit and debit cards aren't supported.
How much can I send?
| Residency | Limits |
|---|---|
| If you aren't a resident of Malaysia | When sending MYR to another currency, you can send up to 30,000 MYR per day for cross-currency transfers. This doesn't include transfers from your Wise MYR Balance to another currency. |
| If you're a Malaysia resident (Malaysian or an expatriate) | Per month, you can make 13 cross-currency transfers from MYR, but only to a maximum of 7 unique recipients. |
| When sending MYR to another currency, you can send up to 30,000 MYR per day for cross-currency transfers, including transfers from your Wise MYR Balance to another currency. | |
| For transfers over 30,000 MYR (or equivalent in any currency) from your Wise MYR balance to an external MYR account, the daily limit doesn't apply. However, you may need to make multiple transfers, each under 30,000 MYR. | |
| If you're a Malaysia resident (foreign worker holding a Visit Pass - Temporary Employment) | You can send up to 5,000 MYR (or equivalent in any currency) per month. This includes from-MYR transfers funded from external sources (e.g., bank transfers) and transfers from your Wise MYR Balance. |
| There’s also a lifetime limit of sending to a maximum of 5 recipients in your home country. |
How long does it usually take for the money to arrive?
It usually takes 0–2 working days for your money to get to us, depending on how you pay for your transfer. Then, we convert it and send it out. Conversion can take up to 2 working days.
Check the guide for the currency you’re sending to for an estimate on how long it will take to arrive in your recipient’s account after we send it out.
Are there any restrictions on sending from MYR?
You can send from MYR with an address anywhere if you've finished verification. But you can only add MYR to your Wise Account from a bank within Malaysia. Adding MYR to your Wise Account is only available for Malaysian residents, expatriates, foreign workers and someone with a Malaysian address.
This feature is not available for business accounts.
I’ve cancelled my payment, how long will my refund take?
We’ll let you know when we’ve refunded your money. The time it takes for you to get your refund depends on how you paid,
FPX/bank transfers take 2 working days
If you paid by bank transfer, we’ll need more information before we can send your refund. We’ll send you an email about this.
Make sure to wait until the above time frame has passed before getting in touch about a refund — we’re not able to speed up the process.