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Malaysia is a Southeast Asian country. It is famous for its beaches, rainforests and the diverse culture. Around 7 percent of the total population of Malaysia is Indians. This results in huge flow of money from India to Malaysia. The flow of money goes two ways, therefore, there are two types of Remittances: -
Whether it be to a close relative abroad, a foreign institute, your account abroad, a medical institution or hospital, book your trip or for immigration, CurrencyKart can help you Transfer Money to Malaysia. It can either be through Online Money Transfer or Wire Transfer.
To Send Money from India to Malaysia, CurrencyKart provides two modes of transfer: -
It is one of the easiest and the fastest modes to transfer money electronically to Malaysia. Other common names for the Wire Transfer are TT Transfer and SWIFT Transfer. The Wire Transfer is actually done by the banks in India, but as they charge a bit high fee to process it, the whole process becomes expensive. Also, most of the Malaysia banks charge a correspondent fee while receiving the money from India.
The better option is to use the services of institutions like CurrencyKart. We offer comparatively better rates of Wire Transfer to Malaysia. There are no extra charges or fee charged for the process.
Foreign Currency Demand Drafts are physical paper drafts. They are issued in a specific foreign currency instead of sending a specific recipient of the money to be sent. Comparatively, it is much cheaper than Wire Transfer. Though, it is a much longer process as well. The Demand Draft has to be mailed physically. Once the beneficiary receives it, they have to go to a bank to encash it, which might also take few days. Overall, the whole process can take up to 10 days.
CurrencyKart does not charge any extra fee or charge to Send Money to Malaysia from India, except the demand draft fee of the bank or the service provider.
Once you fill in the details of the money transfer on our website, our team would find the best quotes from different agents and institutions near you. They would be guiding and helping you through each step of the transfer. The credit to your beneficiary account would be made in less than 48 working hours.
The main purposes to Transfer Money to Malaysia from India are: -
There are only four simple steps to Send Money to Malaysia:
Fill in the money transfer form available on our website portal online. Make sure to keep the necessary documents (see below for more information) for the information near you. The amount of the money to be transferred has to be entered either in Malaysian Ringgit or US Dollars. (If the amount transferred is done in US Dollars, the Malaysian Banks will convert the dollars to Malaysian Ringgit. This cross conversion can take up to 3 days.)
Instant quotations from the agents and institutions near you offering the best rates for the money transfer will be mailed to you. You can compare the quotes provided to you and choose the best offer. Once you book and confirm the money transfer order online, the rate booked would be valid for the next 24 hours.
You have to submit the required documents for the verification. For the list of the documents, scroll down. Once the documents are submitted and verified, the amount can be transferred directly as NEFT or RTGS to the current account which is operated by the chosen exchange house.
The money order transfer would be initiated as soon as the amount will be credited. The whole process would take less than 48 working hours. It is advised to the customer to take a print out of the invoice or keep the invoice safely as a proof of money transfer.
Documents Required to Transfer Money to Malaysia from India
Here is a list of general documents that are required for verification and to Transfer Money to Malaysia from India. The documents, usually, depend on the purpose of remittance. A complete list of all the documents required will be mailed to you with the instant quotes.
The Beneficiary details to be shared are: -
CurrencyKart is one of the leading institutes in Foreign Exchange Market Place, from providing money conversion to the cheapest modes to Send Money Online to Malaysia from India. The customers can gain many benefits by opting to Send Money from India to Malaysia via CurrencyKart. Some of them are: -
The live and updated market transfer rates are available on our website 24*7. There is an option available for the customers to lock in rates for up to 3 days and as soon as the desired rate would be available, the customer will be notified. The rate chosen for the transaction will remain live for the customer till the transfer process is completed, i.e., for the next 24-48 hours.
The money transfer orders are processed within 24-48 working hours after the funds and the documents are received. CurrencyKart provides the fastest processing time with no extra cost or charge.
CurrencyKart provides online money transfer services to the customer. The customer can schedule the time for the document pick up and we will pick them up from your location at zero cost. The customers can also visit one of our branches to submit or drop in the documents.
There is no extra cost or fee charged for processing of the money transfer. Please make note that according to the Government and RBI policies, all foreign currency transactions are subjected to service tax.
Book your order online now at CurrencyKart.
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