Valyou: Fees and Exchange rates explained

Yumiko Kijima

Valyou is an international remittance service owned by Merchantrade Asia, which offers cross border payments. The service operates both online and through branches. Valyou’s online services are now offered through the Merchantrade eRemit app.

We’ll also introduce Wise as a comparison. With Wise you’ll get international transfers all over the world with the mid-market exchange rate and transparent, low transfer fees.

Table of contents

Valyou fees and exchange rates - a worked example

Before we dive into the way Valyou works, let’s take a look at a cost comparison for sending a payment to Indonesia. This example is for an online transfer direct from your bank account to your recipient’s account - often the simplest way to get money to a friend or family member, or to settle a bill - quickly.

Example: Sending MYR to a bank account in Indonesia so that your recipient gets 10,000,000 IDR

ProviderTransfer feesExchange rates (1 MYR)Total cost
Valyou (eRemit)10 MYRExchange rate Valyou decides (3461 IDR)¹2,889.34 MYR¹
Wise18.48 MYRMid-market exchange rate (3538.14 IDR)2,844.82 MYR² Send money

( 28 April 2021, at 10:19, 10:21(GMT+8))

In this example, you’ll pay less if you choose Wise - even though Valyou’s transfer fee looks cheaper. That’s because Wise offers the real mid-market exchange rate with no markups, while Valyou uses the rate they decide.

Check both the fees and exchange rates used by a few providers to find the best deal out there for your payment.

Send money with the real rate: Wise👩‍💻

Valyou money transfer: Fees, exchange rates and service area

To help you decide if Valyou is the best option for your payment, let’s take a look at the fees and exchange rates on offer. We’ll also review the Valyou service area - the countries you can send a payment to with Valyou.

Valyou transfer fees

The transfer fee you’ll pay with Valyou depends on where you’re sending money to, and the amount you send. You’ll be able to model the payment online to see the specific fee for your transfer.

Here are a few examples:

Sending MYR 10,000 to:Fee
United Kingdom20 MYR
AustraliaNo upfront fee
China30 MYR
Singapore12 MYR

Valyou exchange rates

As we saw in the worked example above, it’s important to check the exchange rates used by any provider, as well as the upfront fees. If a markup is added to the rate used for your transfer, you could find it’s more expensive than you expect in the end.

Valyou or Merchantrade’s exchange rates are available online³. You’ll be able to see if a markup is used for the rate offered for your transfer, by comparing the Valyou rate with the mid-market exchange rate. The mid-market exchange rate can be easily found using a Google search or with an online currency converter.

Valyou service area

You can send money online to the following countries at the time of research:³

  • Australia
  • Bangladesh
  • China
  • India
  • Indonesia
  • Japan
  • Myanmar
  • Nepal
  • Pakistan
  • Philippines
  • Sri Lanka
  • Thailand
  • United Kingdom
  • Vietnam

If your destination country isn’t in Valyou or Merchantrade Asia’s service area, check out alternative providers like Wise.

💡A cheap and transparent alternative: Wise

Wise uses low, transparent fees and the real exchange rate without any mark-up - every time.

You can send money from Malaysia to 70+ countries with no hidden fees. Transfers can be set up easily online and via the Wise app - and can be up to 4x cheaper than Malaysian banks.

To send money with Wise:

  1. Register for free
  2. Choose an amount to send
  3. Add recipient’s bank details
  4. Verify your identity
  5. Pay for your transfer by bank transfer or debit/credit card

And that is it! You can track your transfer in your account and your recipient will also be notified when a transfer reaches them.

Join over 10 million customers and experience a cheaper, faster way to send money abroad. From Malaysia, you can send money abroad up to 4x times cheaper than banks.

Sign up for free🚀

How to send money abroad with Valyou

You’ll be able to send money online either by opening a Valyou e-wallet and topping that up, or by linking your Valyou account to your regular online banking system directly. Or you might choose to send money in person by visiting a Valyou agent. Here’s how to get started.⁴


Here’s how to register and open an account with Valyou:

  • Open Valyou’s website or download the app
  • Register a new account - you’ll need your passport/NRIC, and access to your online banking
  • If you’re registering on the app, confirm your account using the validation SMS you receive
  • Set up a Valyou wallet, or link your online banking to get started

Once you have an account open and verified, you can take the following steps to make an international payment:⁵

  • Open the app or log into your account online
  • Select Send and the country you want to make a transfer to
  • Add the beneficiary details, following the onscreen prompts
  • Confirm the amount you’re sending and the method of receipt
  • Check and compare the costs of the transfer against alternatives
  • If you’re happy, click confirm and you’re done

Via a cash pickup agent

As an alternative you can find a Valyou or Merchantrade Asia agent close to you, and call in for face to face service. It’s worth noting that the costs of sending money in person are typically more than sending online, so do be careful to check the fees and the Valyou rate offered for your transfer.

Valyou Transaction Tracker (How to track your remittances)

Once your payment is being processed, you can track it with the PINNO or the reference number of the transaction. Just head over to the Valyou transaction tracker page, and enter the details to learn more.⁶


Before you choose an international payment provider, it’s smart to check the costs and exchange rates, and compare a few options to get the best deal.

Valyou offers payments online and in person to a limited range of countries, so you’ll want to check your payment falls within the service area, and model the costs online to check it’s competitive. Compare Valyou against other online providers and specialist services like Wise to make sure you get the best possible price for your international payment.

Join Wise💡

Wise for sending money


  1. eRemit (28 April 2021, at 10:19(GMT+8))
  2. Wise: Online Money Transfers(28 April 2021, at 10:21(GMT+8))
  3. Merchantrade: Daily Exchange Rates
  4. Valyou: International Remittance
  5. Valyou: Send Money Overseas with Valyou
  6. Valyou: Transaction Tracker

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.

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