If you live in Malaysia, you can only hold up to 20,000 MYR on your personal Wise account. This includes all the money you hold in your Balances and Jars in any currency.
We know that from time to time, you may receive funds into your account taking your balance over 20,000 MYR:
If you've already set up your external account, we will immediately transfer any amount over 20,000 MYR to you.
If you've not set up your external account yet, you’ll have 7 days to withdraw the excess money. If you don’t withdraw it within 7 days, we’ll freeze your account so that we remain compliant.
Keep in mind: This limit only applies to personal accounts in Malaysia.
How do I know if I'm a Malaysian user?
A Malaysian user is someone who has a Malaysian address registered in their Wise account.
Setting up an external account
An external account is a bank account where Wise will automatically send your excess funds so you won't go over the limit.
This account can be in another currency other than MYR as long as it's under your ownership, but cannot be your Wise account details. We’ll charge the usual fees to convert (if needed) and transfer your money.
To add your external account:
Go to Recipients
Add your own bank account as a recipient
Select Mark this as my external account
Transfer money locally
If you’re sending from your personal account and live in Malaysia:
If your recipient is in Malaysia, you can only make transfers that involve MYR. But you can send to any currency as long as the money is sent from your MYR balance.
If your recipient is not in Malaysia, you can send from or to any currency.
For business accounts in Malaysia, you can send to any recipient any currency.
My account was suspended.
If you were not able to withdraw your balances on time, your profile might be deactivated. If that has happened, don't worry — please contact us here and we will help you fix it.