Who sends money from Singapore to Malaysia
Common senders: Work Permit and S Pass holders supporting families, EP holders sending savings, and students' families.
Worked example: sending 1,000 SGD
Using the ECB reference rate on 2026-10-07, 1 SGD = 3.1928 MYR, our estimate model gives these results for sending 1,000 SGD:
| Provider | Est. fee | Est. received | Total cost vs mid-market |
|---|---|---|---|
| Wise | 7.28 SGD | 3,169.56 MYR | 23.24 MYR |
| Revolut | 3.00 SGD | 3,167.31 MYR | 25.49 MYR |
| Remitly | 0.00 SGD | 3,154.49 MYR | 38.31 MYR |
| Western Union | 6.40 SGD | 3,108.91 MYR | 83.89 MYR |
| Bank wire (typical) | 25.61 SGD | 3,033.26 MYR | 159.54 MYR |
In this example Wise delivers roughly 136.29 MYR more than a typical bank wire. Rates move daily and providers change pricing, so treat this as an illustration from our model; the live calculator above and the provider's own quote are what count. See how we estimate.
Sending to Malaysia: what to know
- Payout options: DuitNow-enabled bank accounts and cash pickup.
- Most digital services deliver to Malaysian banks within minutes to a day.
- Weekend rates on some providers include a wider buffer; weekdays are often better.
Rules and limits
In Singapore: Cross-border money transfer providers in Singapore must be licensed by the Monetary Authority of Singapore (MAS) under the Payment Services Act. You can check any provider in the MAS Financial Institutions Directory.
In Malaysia: Remittance providers are licensed by Bank Negara Malaysia under the Money Services Business Act 2011, and the licensee list is published on BNM's website.
How to pick the cheapest option
- Compare the amount received, not the fee. "Zero fee" offers usually hide their cost in the rate. How markups work.
- Small amounts: watch fixed fees. Large amounts: watch the markup.
- Avoid intermediary deductions. SWIFT wires can lose $10–30 in transit. Why.
Frequently asked questions
What is the cheapest way to send money from Singapore to Malaysia?
It depends on the amount and the day's pricing. This page calculates, at today's mid-market rate, how much MYR each provider delivers for 1,000 SGD; the top row is currently the cheapest by our estimate.
How much more does a bank wire cost for 1,000 SGD?
Using the reference rate on 2026-10-07, our model puts the gap at about 136.29 MYR versus the cheapest option. Rates and pricing change daily.
How can my recipient in Malaysia receive the money?
Common payout options are DuitNow-enabled bank accounts and cash pickup. Availability differs by provider, so check before you send.
How long does it take?
Digital services usually take minutes to 1–2 business days; bank wires often take 2–5 business days.