Money Transfer between Malaysia and India

Now a days due to globalization, a lot of people work outside India in other countries. Malaysia is one of such countries where several people go for employment. Also Malaysia is a favorite tourist destination. A great number of tourists from India visit Malaysia frequently.

Send Money from Malaysia to India

Indians who are in Malaysia are always in need to send money back to India. There are many ways for such money transfer but the most preferable way is by Telegraphic Transfer. Telegraphic transfer is an electronic way to transfer fund from one bank to another bank. A Malaysian bank Bhumipatra Bank of Commerce has a tie with ICICI bank and a Telegraphic Transfer can be done through this bank.

Currency in Malaysia

The currency used in Malaysia is Malaysian Ringitt (RM). The exchange rate of Malaysian Ringitt is around 1 RM = 11.6 Indian Rupees.

Transfer Charges

The transfer fee for telegraphic transfer for amounts up to 5000 RM is 30 RM and for amount more than 5000 RM is 25 RM.

Send Money from India to Malaysia

If you want to send money from India to Malaysia then you can send it by foreign currency draft. Foreign currency draft is more advantageous for smaller amounts up to Rs35000.

Foreign currency draft is a bank draft drawn on overseas bank and in recipient’s currency. Most of the main banks in India have the facility of drawing foreign currency drafts.

Now your loved ones are not alone even if they are far from you. Your help will always reach to them within no time in their needy period.