News Product update

Wise lands in Malaysia, for you and your family.

Wise

11.11.19 (updated more than 1 year ago)

Read time 1 minute

Every day hundreds of people send money to and from Malaysia — and it’s on the rise. Last year alone, Malaysia’s international money transfers grew 23.3%, to RM41 billion.

But there’s a problem. Most Malaysians are still sending money abroad with their bank. And every time they do, they could be losing out to hidden fees. Because banks aren’t using the real exchange rate — they’re marking it up and taking an extra cut for themselves.

Today this all changes. You can now send Malaysian Ringgits to over 70 countries with the real exchange rate — like the one you see on Google. With the low transparent fees we’re known for.

We couldn’t be happier to launch in Malaysia, our fourth country in Asia — following Singapore, Hong Kong and Japan.

To celebrate this launch, our first 1,000 customers will get their first transfer fee-free for up to RM1,000 — get your free transfer here.

What’s Wise?

Wise is the building the best way to move money around the world.

6 million people are already transferring over RM20 billion every month. That’s a saving of over RM6 billion every year compared to if they used a bank.

Check out how to send money with Wise

But, is it cheaper than my bank?

Wise is up to 4x times cheaper than banks in Malaysia to send money overseas — compare the price here.

price-comparison-15-00-11nov2019

Who can use Wise?

Currently, Wise is available to anyone sending money out of Malaysia to over 70 countries. You can send money back home, pay for your tuition fees overseas, or pay friends and family overseas.

If you’d like to send money as a business, join the waitlist for business here. We’re launching in the next few months so businesses can send money out of Malaysia.

Can I refer friends to Wise?

Of course! And when you invite 3 friends, you’ll get RM100.

Create a Transferwise account
Go to your account and select Invite & earn 100 MYR
Share your invite link
For every 3 friends who transfer over RM500, you’ll get RM100
Tell us your bank account for the reward to be paid out

invite

What’s next?

In the coming months, we are launching payments via FPX, and international transfers for businesses. We are also working on our multi-currency account and debit card to bring people in Malaysia a step closer to a world without borders.

The year has been a big step forward for Wise, but it’s early days for our mission. 99% of the world is still moving money with expensive, intransparent providers, and for the RM6 billion we save customers every year, hundreds more billions are wasted in hidden fees. We want to get that number to zero.

Send money from Malaysia

*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.