How to send money from Malaysia to India

Hi,

I am moving to Malaysia from India shortly. So I just wanted to enqire about how to send money back to my home country India from Malaysia?

Is there any way I can send money to my bank account in India from Malaysia? What will be the charges/fees incurred?

I hope some Indian in Malaysia can help me out with this.

Thanks in advance

The best Remittance from Malaysia to India is Merchantrade.

Check below for Service Charges:
http://www.eremit.com.my/rates/service_charge.asp

Hi friend, best way is using Lotus forex. Almost all Indians here use it. In case you need any detailed help, let me know.

harsh6sigma :

Hi friend, best way is using Lotus forex. Almost all Indians here use it. In case you need any detailed help, let me know.

Hi harsh6sigma, thanks for the reply.

Can you please let me know the details, and the charges that will be incurred? Is the money directly transferred to bank accounts in India?

Why not use direct bank to bank transfers? (swift, iban...)

(Moderated: off topic)

u get a lower exchange rate when doing bank to bank transfer. especially when doing large transfes, the difference is very noticeable.

I want to tranfer money from my malaysian account to my indian account.Can u please help me how i do this...

sasmita pati :

I want to tranfer money from my malaysian account to my indian account.Can u please help me how i do this...

Use eremit or UAEexchange to send money to India, you get a good exchange rate as compared to b2b transfer. The service charge would be 15 to 20 rm depending on the amount. You can go to their websites and register yourself..all you need to do once you have registered, send the money to their local bank accounts and they would transfer that to your Indian bank account..

I am using moneygram and so far quite satisfied with their exchange rates and area coverage..!
Cheers..!

If I open a SBI NRE account and then transfer from Maybank to SBI...is that possible and would I get a good rate?

regards

Hi...

How much Service charge to send money to India

There are many option you can transfer money to india in your bank account  using remit portals or CIMB bank via speedsend

Portal

www.eremit.com  (Merchanttrade)

www.money2anywhere.com  (UAE exchange)

www.imeremit.com (Ria money transfer)

www.lotusremit.com (Lotus)

All have different rate and charges depend if any promotion it will be less etc.

How is Western Union? Its giving good exchange rates and less fees compared to eremit.

westren union is higher rates but more convenience for sender and receiver..
Moneygram is also a decent option.

Transferwise is one of the best in the market (low fees, transparency of guaranteed rate) though limited on currencies.

If your currency is not available I think the next best in my experience is https://moneymatch.co

Western Union works, but for some people it poses a problem because SOME banks require you to have a bank account in Malaysia before you can send or receive. There are two types of WU, indicated by two different signs outside banks. I cant remember which is which but you will learn when you pop in there and ask. One type lets anyone send or receive and it only takes a few minutes, the other type requires you to have a bank account in Malaysia.

I have used to ime remit online -https://online.imeremit.com/my/

Recently I sent RM5,952 ( INR100,000) to someone's account in India. They charged me RM8/- for the transaction. the rate fluctuates. You could monitor it daily and send when the rates are higher. For lower amounts, the charges are RM5/-

Instarem is the best. instarem.com/invite/cLLkyu
They offer good exchange rates and signup bonus. I have been using from the past 8 months and the money will be credited to your Indian account within 4 hours.

you can use western union or Instarem to transfer the money.

Totally agree with BritJohn, and I use TransferWise every week. But not sure that it will work from Malaysia as Malaysia has more control than many other countries. Also, this thread dates back to 2013 so who are you answering?

The charges will be based on the amount and the exchange rate on that day. All banks do it.

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