Want to send money to Malaysia? Thinking about a bank wire to transfer the money to Malaysia? Before you go your financial institution to do it, make sure you check out the wire transfer fees. It may come as a shock how much the charges will be and depending on the amount of the wire, it might be better to have a look at the alternatives to send the money by other means.
What can make it more expensive is in addition to your bank adding a fee for sending the money to a place in Malaysia, the recipient receiving the transfer will possibly also incur a fee at their end. One way to minimise the likelihood of this fee is to remit the international wire transfer in the currency of their account.
To process a wire transfer to Malaysia, you may need a SWIFT code. These are unique codes for each bank and based on references including the individual banking institution and country.
SWIFT Country Code
Central Bank Name
Bank Negara Malaysia