How to send money to Malaysia in 2026: dollars and euros in 1-2 business days, exchanged into ringgit locally
In 2026 money is sent to Malaysia in dollars or euros to your own currency account at a Malaysian bank, and exchanged into ringgit within the country. A fixed deposit under the Second Home programme starts at $150,000, a flat in Kuala Lumpur for a foreigner at $250,000, and a resident's foreign income is tax-free until the end of 2036.
Money goes to Malaysia by international transfer to your own Malaysian bank account: US dollars reach a currency account in 1-2 business days and are exchanged into ringgit at the same bank. Ringgit are bought inside Malaysia, so money is sent from abroad in dollars or euros, and a resident's foreign income is tax-free until the end of 2036.
Dollar amounts use the Central Bank of Malaysia average rate of 7 October 2026, 4.0862 ringgit per dollar, rounded up. Routes checked on 8 October 2026.
| Route | Now | Arrives in | Time | What for |
|---|---|---|---|---|
| International transfer to a currency account at a Malaysian bank | works | US dollars, euros and other currencies | 1-2 business days | capital, the programme deposit, a home |
| International transfer to a ringgit account | works | ringgit after exchange at the Malaysian bank | 1-2 business days | living costs, rent, studies |
| Fixed deposit under the Second Home programme | works | US dollars or ringgit | on the programme schedule | a 5-, 15- or 20-year visa |
| Instant domestic payment by phone or ID number | works | ringgit | seconds | rent, shops, bills |
| Money transfer service | works | ringgit | from minutes to 1 business day | small sums to family |
Ringgit are bought in Malaysia: a currency account and exchange at the bank
The ringgit circulates within the country, and the rate for a transfer is set by the recipient's Malaysian bank. So it is better to send US dollars or euros to your own currency account in Malaysia and exchange into ringgit exactly the sum needed for a payment: rent, studies or the first instalment on a flat. The rest stays in foreign currency and loses nothing on a double exchange.
Malaysian banks also open currency accounts for people who live abroad. A non-resident's money leaves freely: investments, rental income and home sale proceeds are sent abroad in any currency. A Malaysian account number is a local one, without the international format, and a transfer from abroad needs the bank's international code, the account number and the recipient's name as the bank has it.
The bank fixes the exchange rate on the day of crediting, so a large sum is exchanged into ringgit in parts, to match payment dates.
A transfer to your own account in Malaysia: with a visa, in one visit
The law does not require a residence permit for an account, and some Malaysian banks open accounts for non-residents. Accounts open fastest for those already living in the country on a visa: Second Home programme participants, employees, students and remote workers. With a visa and a full set of documents an account is opened in one branch visit.
For the visit you prepare a passport with a visa, proof of an address in Malaysia, a letter from your employer or the programme documents, and proof of the source of funds for large sums. Inside the country, your own account gives access to the national instant payment system by phone or ID number, used for rent, in shops and for bills.
The Second Home programme: a fixed deposit from $150,000 and a home
The Second Home programme gives the whole family a multiple-entry visa without working in the country. The main condition is a fixed deposit at a Malaysian bank and the purchase of a home, so a programme transfer is planned in two parts. Terms on 8 October 2026:
| Category | Fixed deposit | Home from | Visa |
|---|---|---|---|
| Silver | $150,000 | $150,000 | 5 years |
| Gold | $500,000 | $250,000 | 15 years |
| Platinum | $1,000,000 | $500,000 | 20 years |
| Special economic zones | $65,000, from age 50 $32,000 | no purchase needed | 10 years |
From the second year of participation up to half the deposit can be used for a home, children's studies or medical care in Malaysia. The deposit remains yours and is returned when you leave the programme, and when opening it the bank checks the source of all applicants' money. Details are in how to get residency in Malaysia.
Gathering money for the programme deposit? We will suggest the best way to send the deposit and the home payment on the programme's schedule.
Foreign income tax-free until the end of 2036
Malaysia taxes income from local sources at rates of up to 30%, while foreign income of individuals brought into the country is exempt from tax until 31 December 2036 under the exemption conditions. Interest on deposits at Malaysian banks is also tax-free for individuals. So a Malaysian resident brings dividends, interest and savings into the country without Malaysian tax, and the transfer itself is not taxed.
Details are on the taxes in Malaysia page.
We will help you send money to Malaysia
Mistakes cost more than fees: a double exchange through ringgit where a currency account would have done, a programme deposit without documents on the source of the money, a flat below the state threshold, a transfer sum that leaves out the 8% stamp duty. We will help you avoid them: we will choose the currency and route of the transfer, schedule the deposit and the home payment to fit the programme's deadlines and prepare the document package for the bank.
Details and terms are with a manager in the chat: they depend on the sum, the purpose of the transfer and your visa in Malaysia.
Pension and remote work income: regular transfers to Malaysia
People choose Malaysia to live on income from abroad, and for such transfers one currency account plus a ringgit account for spending is convenient. A remote worker can use the nomad pass: income from $24,000 a year and a fee of about $270. A retiree from age 50 can use the Second Home programme in a special economic zone with a $32,000 deposit and a 10-year visa without buying a home.
A salary from a foreign employer and a pension arrive once a month, so they are sent in one transfer in dollars or euros and exchanged into ringgit as you spend. The bank quickly gets used to a regular payment from one sender, and monthly transfers go through without extra questions. More about visas is in residency in Malaysia: all routes.
A flat in Kuala Lumpur: from $250,000, state consent and an 8% duty
A foreigner buys a home in Malaysia with the consent of the state authorities and at no less than the threshold the state sets for foreigners: from $250,000 in Kuala Lumpur and from $490,000 in Selangor. Stamp duty for a foreign buyer has been 8% since 1 January 2026, so for a $300,000 flat about $330,000 is sent including the duty.
Money for a flat is sent to your Malaysian account in advance, and the payment to the seller or developer goes out in ringgit. Tax on sale is 30% in the first 5 years of ownership and 10% after that, so a purchase for resale is planned with a horizon of 5 years or more. Details are in buying an apartment in Malaysia.
Chosen a flat? A manager will choose a route and check the sum together with the duty.
Up to $62,000, up to $500,000 and more: what a Malaysian bank will ask
- Up to $62,000 (250,000 ringgit): transfers for living costs, rent and studies. The whole sum is within the deposit guarantee, and the bank checks the name and the payment purpose.
- From $62,000 to $500,000: a Silver category programme deposit, a flat in Kuala Lumpur. The bank will ask for statements, documents on the source of the money and the contract or a programme letter.
- From $500,000: the Gold and Platinum categories, a home in Selangor or Penang. You need a full file on the source of the capital: the history of the business, tax returns, documents on the sale of assets.
A large sum? Capital relocation is our general procedure for such transfers, and the documents are covered in proof of source of funds. A manager will split the transfer into parts to fit your timing.
Sending money out of Malaysia and on to Singapore
Money leaves Malaysia freely: a transfer to Singapore arrives the same or the next day, and to Thailand and Indonesia in 1-2 business days. The Malaysian bank checks the recipient's bank and the purpose of the payment in advance.
Sending money to neighbouring countries
- Singapore - a deposit guarantee and instant transfers
- Indonesia - payments in rupiah and a home on Bali
- Thailand - an account with a long-term visa
- Brunei - a currency at par with the Singapore dollar
- India - transfers with a payment purpose code
- Australia - an account before arrival and transfers by phone number
Other countries and the general procedure for moving capital are in the capital relocation section.
FAQ
Can you send dollars to an account in Malaysia without exchange?
How much do you need to place on deposit under the Second Home programme?
Is foreign income brought into Malaysia taxed?
Up to what amount is a Malaysian deposit insured?
What sums does a foreigner need for a flat in Kuala Lumpur?
Can you open an account in Malaysia without a residence permit?
We will suggest the best way to send your money
We will choose a transfer method for your amount and country, prepare the documents on the origin of the money for the bank, make the transfer through licensed partners and follow it until the money is credited. Ask your question in the chat - the manager will suggest the best terms and the cost. The legal side with banks and government bodies is handled by Murblz specialists and locally licensed partners.
Details and cost are with the manager in the chat. Describe your situation and we will reply right away.
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