Personal Finance Money transfer

How to receive money overseas in Malaysia with Maybank

Hannes Ausmees

19.01.26 (last updated)

Read time 3 minutes

If you're expecting to receive a remittance into your Maybank account in Malaysia, you'll want to know how the process works and what fees there may be along the way. The good news is that it's pretty easy to arrange to have a payment made to you - but there are some costs involved which you should know about.

Read on for our handy guide to receiving international payments into your Maybank account. We'll cover all the details you'll need to receive your payment and whether there are any fees involved. And how long it takes until you'll get your money.

We'll also introduce the Wise account, a handy companion to make your money go further with low, transparent fees.

But first, let's get you set up to receive an international payment as a Maybank customer.

Table of contents
What details to provide to the sender Fees for receiving money from overseas Exchange rate How long does it take? Receive money locally for free in 10 currencies

What details will I need to provide?

You'll need to give the sender of the payment a number of important details to ensure that the money ends up in the right place. The exact details depend on the sending bank, but here's what you'll generally need to provide¹:

Your full name
Your account number and sort code
The address of your bank branch (if required)
The Maybank SWIFT code - this is MBBEMYKL²

A SWIFT code is an identifying number unique to a specific bank. International payments are usually sent via SWIFT, which is a global network of banks.

What are the fees for receiving money from overseas with Maybank?

Let's take a look at how it may cost you with Maybank to receive money from overseas. Fees for receiving international payments are as follows:

Origin of payment	Service charge³
Receiving international payments sent from Maybank	None
Receiving international payments from all other banks	RM 5

However, this isn't the only cost to consider. When payments are sent through the SWIFT network, it often involves a number of other banks along the way. These are known as correspondent banks, and they can each charge their own fees.

If you're arranging an international payment you might find that you're asked how you would like the costs of the transaction to be covered. Usually you'll be given 3 options, which are often expressed as the codes OUR, SHA and BEN.

Here's what they mean:

OUR means that the sender pays all of the upfront costs of the international payment
SHA is used when you want the charge to be split between the sender and the recipient
BEN shows that the recipient - the beneficiary - must pay all of the bank charges associated with the transfer

In most cases your sender will decide how the costs of the international payment are covered. So if you're going to be receiving money from someone based overseas, it could be essential to agree in advance who will pay the upfront charges, so there are no nasty surprises.

Exchange rate

Another thing to consider is the exchange rate. If the sender transfers money to your account in a different currency, banks tend to add a mark-up to the mid-market exchange rate, which makes the transfer more expensive. This could potentially affect how much you receive.

👀 With Wise you can spend and convert your money at the rate you usually see on Google, with low, transparent fees that are presented upfront.

Check which exchange rate is being used for your remittance, and compare it with the mid-market exchange rate, which you'll find with a simple search on Google, for example.

You can also use this tool to compare the rate you can get with a bank and the mid-market rate if, for example, you receive a payment from Singaporean dollars to Malaysian ringgit.

Using Maybank to receive money from overseas - how long does it take?

The time it takes to receive your payment from overseas all depends on where the money is coming from, and which bank is sending it.

It's likely though that the transfer will be made via the SWIFT network. The average time for a SWIFT payment to arrive is 1-5 working days⁴, although of course it could potentially take longer than that.

Receive money locally for free in 10 currencies with the Wise account

With Wise, you'll get 8+ local account details including MYR, USD, GBP, AUD, and more. This way, you can receive money directly, in a cheap and convenient manner. All you need to get started is to sign up for a free account, and you'll be able to manage your money with just a few taps of your phone.

After getting your money, you can easily convert it to 40+ currencies, with low fees, and the mid-market rate - also known as the rate you see on Google. This includes exchanging to MYR with a one-time conversion fee from 0.25% that's shown upfront, and no markups or additional fees.

Receive, exchange, and move your funds to your local bank account in MYR in a cheap and convenient manner with Wise.

✍️ Sign up for a free account now]

Sources used for this article:

Sources checked on 18 January, 2026

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.