What is the cheapest way to send money abroad?
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Find the cheapest international money transfer
| Sending 1,000 MYR with | Recipient gets(Total after fees)and transfer speed | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
 | 207.20 USD | ||||||||||
Transfer fee 8.74 MYR Exchange rate(1 MYR USD) 0.209030 Exchange rate markup 0 MYR Cost of transfer 8.74 MYR | |||||||||||
 | 206.72 USD- 0.48 USD | ||||||||||
Transfer fee 9.50 MYR Exchange rate(1 MYR USD) 0.208700 Exchange rate markup 1.58 MYR Cost of transfer 11.08 MYR | |||||||||||
 | 203.65 USD- 3.55 USD | ||||||||||
Transfer fee 10 MYR Exchange rate(1 MYR USD) 0.205704 Exchange rate markup 15.91 MYR Cost of transfer 25.91 MYR | |||||||||||
 | 174.75 USD- 32.45 USD | ||||||||||
Transfer fee 153.52 MYR Exchange rate(1 MYR USD) 0.206445 Exchange rate markup 12.37 MYR Cost of transfer 165.89 MYR | |||||||||||
See why customers choose Wise for their international money transfers
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Best ways to send money internationally
Bank Transfer
Bank transfers are usually the cheapest option when it comes to funding your international money transfer with Wise. Bank transfers can be slower than debit or credit cards, but they usually give you the best value for your money. Read more how to use bank transfers as a payment option.
How to send a cheap money transfer in 3 easy steps
Choose your payment method
Funding your money transfer with a bank transfer is usually the cheapest way to send money abroad.
Get the cheapest rate possible.
Wise always gives you the real and fair mid-market exchange rate. If the rate is not good right now, sign up for Rate alerts to receive an email notification when the rate changes.
Send MYR, receive USD.
The recipient gets money in their currency directly to their bank account.
Things to consider to find a truly cheap way to send money abroad
Fees
Many businesses state low fees or even offer consumers fee-free transfers, but most of the expense of sending money abroad is hidden. The bulk of consumer costs can be concealed in poor exchange rates.
Exchange rates
A quick Google search will show you an exchange rate. But if you compare it to the exchange rate offered by banks and traditional money transfer services, you’ll find their rate is often much worse.
Transfer time
Traditional banks and international money remittances often take several working days. Wise is often much faster: a lot of transfers are completed within 1 business day. Many of our transfers are even instant.
Protecting you and your money
Safeguarded with leading banks
We hold your money with established financial institutions, so it's separate from our own accounts and in our normal course of business not accessible to our partners. Read more here.
Extra-secure transactions
We use 2-factor authentication to protect your account and transactions. That means you — and only you — can get to your money.
Data protection
We’re committed to keeping your personal data safe, and we’re transparent in how we collect, process, and store it.
Dedicated anti-fraud team
We work round the clock to keep your account and money protected from even the most sophisticated fraud.
Sending money is cheap with the most international app
Looking for an app to send money with low fees? Sending money is easy with Wise app.
- Cheaper transfers abroad - free from hidden fees and exchange rate markups.
- Check exchange rates - see on the app how exchange rates have changed over time.
- Repeat your previous transfers - save the details, and make your monthly payments easier.
