How to send money to Singapore from Malaysia with the best MYR-SGD rate

Comparing providers when sending money from Malaysia to Singapore is the easiest way to make a transfer at the best price.

Right now, for MYR/SGD

• Wise is our recommended company for transferring Malaysian Ringgit to Singapore. Sending 30,000 MYR to SGD will cost you RM188.99 in fees, and you will receive 9,318.77 SGD. The delivery time is within minutes, but it depends on the day you make the transfer.

• If you want to secure the best rates on a MYR to Singapore transfer, Wise is the cheapest way to send money and will result in the most Singapore Dollar received.

• Fastest way to send money from Malaysia to Singapore is via Wise. Based on a RM30,000 transfer, Wise transfer time for MYR-SGD transfers is within minutes.

We’ve compared 2 providers for sending Malaysian Ringgit to Singapore. This ensures you will get the best options for your transfer to Singapore from Malaysia.

The exchange rate determines the price you will pay when buying Singapore Dollar.

A better exchange rate and lower fees means more money being sent to Singapore.

The total cost of sending money to Singapore from Malaysia, is made-up of a combination of fees and exchange rates. Sending with a company that can offer a good deal on both ensures a good deal on your transfer.

• The Mid-Market and Exchange Rates: Currently, the mid-market for MYR-SGD is 0.3133 SGD per Malaysian Ringgit.

• Fees: Transfer fees may have to be paid alongside the transfer, either as a set fee or a percentage of the transfer. Wise has a fee of 188.99 MYR per transfer (which is the cheapest option right now for a RM30,000 transfer). Although you should search for your send amount to get live deals and lowest fees.

• Amount Received: Money transfer companies will show you the amount of Singapore Dollar eventually received in Singapore.

If you are paying for services in Singapore Dollar from Malaysia, this can make a huge difference.

Understanding the averages, and then waiting a day or two can help you get more SGD for the same amount of Malaysian Ringgit.

You can also use a forward contract to lock in an agreed exchange rate between Malaysia and Singapore.

Using a bank transfer to send via money transfer company is the payment method that will get you the best price when sending from Malaysia to Singapore.

Here are all the ways to send money from Malaysia to Singapore:

Bank transfers

Bank transfers are often the fastest and cheapest way to send money from Malaysia to Singapore.

Using a money transfer company such as Wise for payments from Malaysia to Singapore, means you can send via a bank transfer and benefit from lower fees and more favorable exchange rates than you would get with a traditional bank. 


Debit and prepaid cards

Sending money with a debit card from Malaysia to Singapore is easy with .


is a leader in debit card money transfers from Malaysia to Singapore. They are the best option of the 2 transfer companies compared.

Credit cards

Not many money transfer companies offer direct credit card deposits, because it is more expensive for everyone.

We recommend using a bank transfer or a debit card transfer if you can; otherwise, make a quick comparison to find the latest deal.

Ensuring you fully understand regulations in Malaysia and Singapore will aid in keeping your money safe.

Our directory of worldwide financial regulators contains details on regulation for sending money between Malaysia and Singapore.

Some companies offering money transfers between Malaysia and Singapore have minimum or maximum thresholds on how much you can send or receive.

Rates and fees for different transfer amounts could change - that’s why it’s best to compare MYR-SGD rates for your specific transfer amount.

For regular transfers to Singapore, shopping around each time can make a huge difference.

For sending large amounts of MYR to Singapore we'd recommend using Wise. They offer a combination of rates and fees when sending from Malaysia to Singapore that is the most competitive, even at larger amounts.

There are different options for receiving Singapore Dollar in Singapore.

The most popular are direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all companies offering transfers from Malaysia to Singapore will offer every method for incoming Singapore Dollar, so it’s best to check ahead of time.

Again, a comparison of MYR to SGD providers will tell you if the method for receiving is supported.

One of the most common ways to transfer money from Malaysia into Singapore is by sending directly to a bank account. Wise is the best company for bank transfers between Malaysia and Singapore.

And if you need cash right away, check if cash pickup is an option for transfers between Malaysia and Singapore.

P2P services and payment apps like PayPal, Xoom, and CashApp are popular because of convenience but are better for domestic transfers. For receiving international payments they come with more limitations and higher costs compared to money transfer options like multi-currency accounts.

If using a money transfer company to send Singapore Dollars to Singapore, you will need to verify your ID at the sign up stage.

The documents you need will vary and in some cases you might need more than one.

ID can be verified in Malaysia through a government issued ID such as a passport or driver's license.

If the recipient needs an ID to collect money in Singapore, it will be similar.

Large transactions between Malaysia and Singapore, can be subject to additional checks. This includes proof of funds for anti-money laundering purposes.

One of the reasons Wise has scored so highly for transfers to Singapore is their easy sign up process in Malaysia.

Sending regular, or larger amounts of money between Malaysia and Singapore could mean there are tax declarations to consider.

Some transfers into Singapore Dollar may need to be reported to tax authorities in Singapore, particularly where inheritance or property purchases are involved.

Singapore has many different tax obligations for residents and non-residents.

When in doubt, please contact a tax professional in Malaysia or Singapore to discuss your personal circumstances. This ensures you are not missing any specific tax needs associated with your transfer.