Malaysians in Singapore make up the largest Malaysian diaspora community in the world. They are also the largest foreign community in Singapore. The World Bank estimated in 2018 that Malaysians living in Singapore sent home approximately USD 1 billion.
It is important that this group of expats is supported by a fast, secure, and low-cost way of remitting money across the Causeway.
Revolut is committed to providing our customers with the best rates when it comes to currency exchange. Read on to learn how our rates and fees compare against other providers.
What are Revolut's fees like?
We charge a fixed percentage fee of 0.3%, pegged to a minimum of SGD 0.30 and a maximum of SGD 9.00. A fair usage fee will apply under certain conditions. Click here for more details.
How does Revolut compare against other service providers?
If you're sending home 3,000 MYR, the table below illustrates how much, in SGD, you'll be charged at different providers*:
Before you confirm the transfer, Revolut will tell you:
The amount your recipient gets
The exchange rate for this particular transaction
The amount in SGD exchanged
The fees charged
The total amount you pay
The estimated time it takes your money to reach your recipient
Check out this step-by-step video for more details.
Great! How can I send money to Malaysia with Revolut?
If you're already a Revolut customer, you can send money to a Malaysian bank account by adding it as a beneficiary in your Revolut app. Not a customer yet? Download the Revolut app, set up a free account, top it up via bank transfer and you're ready to start remitting money home.
From now to August 10, 2021, Revolut is waiving fees on remittances to Malaysia in support of customers who are remitting money to family and friends fighting the Covid pandemic.
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